2018 Q2 Form 10-Q Financial Statement

#000139681418000025 Filed on August 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2 2012 Q2
Revenue $84.11M $70.93M $12.34M
YoY Change 18.57% 1.86% 239.49%
Cost Of Revenue $20.92M $23.81M $6.685M
YoY Change -12.16% 3.29% 114.61%
Gross Profit $63.19M $47.12M $5.659M
YoY Change 34.1% 1.15% 986.18%
Gross Profit Margin 75.13% 66.43% 45.84%
Selling, General & Admin $44.25M $39.55M $10.41M
YoY Change 11.88% -9.43% 133.16%
% of Gross Profit 70.02% 83.93% 184.01%
Research & Development $12.24M $18.86M $1.872M
YoY Change -35.09% 101.41% -59.18%
% of Gross Profit 19.37% 40.01% 33.08%
Depreciation & Amortization $2.800M $3.700M $0.00
YoY Change -24.32% 15.63% -100.0%
% of Gross Profit 4.43% 7.85% 0.0%
Operating Expenses $77.57M $86.71M $18.97M
YoY Change -10.55% 13.97% 55.91%
Operating Profit $6.541M -$15.78M -$6.626M
YoY Change -141.45% 144.88% -22.33%
Interest Expense $5.397M $5.226M $494.0K
YoY Change 3.27% 201.56% -26.92%
% of Operating Profit 82.51%
Other Income/Expense, Net -$3.942M -$3.933M -$1.670M
YoY Change 0.23% 170.12% 619.83%
Pretax Income $2.599M -$19.71M -$8.296M
YoY Change -113.18% 149.53% -5.73%
Income Tax $35.00K $30.00K $0.00
% Of Pretax Income 1.35%
Net Earnings $2.564M -$19.74M -$8.296M
YoY Change -112.99% 148.09% -5.33%
Net Earnings / Revenue 3.05% -27.83% -67.21%
Basic Earnings Per Share $0.06 -$0.49 -$0.27
Diluted Earnings Per Share $0.06 -$490.0K -$0.27
COMMON SHARES
Basic Shares Outstanding 40.80M shares 40.16M shares 30.95M shares
Diluted Shares Outstanding 41.69M shares 40.16M shares 30.95M shares

Balance Sheet

Concept 2018 Q2 2017 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $371.3M $382.4M $84.30M
YoY Change -2.9% 135.03% 78.6%
Cash & Equivalents $116.9M $53.81M $21.45M
Short-Term Investments $254.5M $328.6M $62.80M
Other Short-Term Assets $6.000M $7.500M $3.200M
YoY Change -20.0% 29.31% -8.57%
Inventory $42.05M $33.60M $9.299M
Prepaid Expenses
Receivables $35.64M $27.47M $3.200M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $455.1M $451.0M $100.1M
YoY Change 0.9% 74.81% 86.71%
LONG-TERM ASSETS
Property, Plant & Equipment $111.3M $103.2M $29.97M
YoY Change 7.78% 3.99% 21.81%
Goodwill $59.91M $50.94M $8.000M
YoY Change 17.61% 19.16%
Intangibles
YoY Change
Long-Term Investments $15.70M
YoY Change
Other Assets $692.0K $572.0K $600.0K
YoY Change 20.98% -15.51% -45.45%
Total Long-Term Assets $187.6M $154.8M $42.78M
YoY Change 21.24% 8.44% 27.69%
TOTAL ASSETS
Total Short-Term Assets $455.1M $451.0M $100.1M
Total Long-Term Assets $187.6M $154.8M $42.78M
Total Assets $642.7M $605.7M $142.9M
YoY Change 6.1% 51.17% 64.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.26M $10.39M $400.0K
YoY Change 37.22% 125.23% -92.16%
Accrued Expenses $38.43M $46.76M $9.300M
YoY Change -17.8% 21.98% 158.33%
Deferred Revenue
YoY Change
Short-Term Debt $300.0K $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $300.0K $1.200M
YoY Change -80.95%
Total Short-Term Liabilities $53.02M $57.51M $15.24M
YoY Change -7.8% -61.77% -12.94%
LONG-TERM LIABILITIES
Long-Term Debt $283.3M $269.3M $25.90M
YoY Change 5.2% 14.6%
Other Long-Term Liabilities $15.89M $17.86M $7.200M
YoY Change -11.05% 26.1% -70.12%
Total Long-Term Liabilities $15.89M $17.86M $33.10M
YoY Change -11.05% 26.1% -29.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.02M $57.51M $15.24M
Total Long-Term Liabilities $15.89M $17.86M $33.10M
Total Liabilities $352.2M $344.7M $48.35M
YoY Change 2.17% 100.0% -24.69%
SHAREHOLDERS EQUITY
Retained Earnings -$395.9M -$386.1M
YoY Change 2.52% 20.63%
Common Stock $41.00K $40.00K
YoY Change 2.5% 8.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares 1.065K shares
Shareholders Equity $290.5M $261.0M $94.51M
YoY Change
Total Liabilities & Shareholders Equity $642.7M $605.7M $142.9M
YoY Change 6.1% 51.17% 64.06%

Cashflow Statement

Concept 2018 Q2 2017 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $2.564M -$19.74M -$8.296M
YoY Change -112.99% 148.09% -5.33%
Depreciation, Depletion And Amortization $2.800M $3.700M $0.00
YoY Change -24.32% 15.63% -100.0%
Cash From Operating Activities $13.71M $3.650M -$20.22M
YoY Change 275.62% -51.59% 85.16%
INVESTING ACTIVITIES
Capital Expenditures -$2.640M -$5.150M -$4.370M
YoY Change -48.74% -41.94% 261.16%
Acquisitions
YoY Change
Other Investing Activities $62.21M -$56.00M -$43.18M
YoY Change -211.09% 419.48% 118.52%
Cash From Investing Activities $59.57M -$61.15M -$47.54M
YoY Change -197.42% 211.35% 126.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $62.90M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.020M 2.330M 64.00M
YoY Change -13.3% -2.1%
NET CHANGE
Cash From Operating Activities 13.71M 3.650M -20.22M
Cash From Investing Activities 59.57M -61.15M -47.54M
Cash From Financing Activities 2.020M 2.330M 64.00M
Net Change In Cash 75.30M -55.17M -3.760M
YoY Change -236.49% 467.59% -88.21%
FREE CASH FLOW
Cash From Operating Activities $13.71M $3.650M -$20.22M
Capital Expenditures -$2.640M -$5.150M -$4.370M
Free Cash Flow $16.35M $8.800M -$15.85M
YoY Change 85.8% -46.37% 63.23%

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35000 USD
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70000 USD
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133000 USD
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2149000 USD
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-2470000 USD
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3640000 USD
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8402000 USD
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-2303000 USD
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2324000 USD
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-1849000 USD
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-102000 USD
us-gaap Increase Decrease In Inventories
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642000 USD
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-1480000 USD
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325000 USD
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0 shares
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
4000 shares
us-gaap Incremental Common Shares Attributable To Equity Unit Purchase Agreements
IncrementalCommonSharesAttributableToEquityUnitPurchaseAgreements
0 shares
CY2017Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
807000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2017Q2 us-gaap Interest Costs Capitalized
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200000 USD
us-gaap Interest Costs Capitalized
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400000 USD
CY2018Q2 us-gaap Interest Costs Capitalized
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200000 USD
us-gaap Interest Costs Capitalized
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600000 USD
CY2017Q2 us-gaap Interest Expense
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5226000 USD
us-gaap Interest Expense
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7815000 USD
CY2018Q2 us-gaap Interest Expense
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5397000 USD
us-gaap Interest Expense
InterestExpense
10553000 USD
us-gaap Interest Paid
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2384000 USD
us-gaap Interest Paid
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4102000 USD
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16540000 USD
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18652000 USD
CY2017Q4 us-gaap Inventory Net
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41411000 USD
CY2018Q2 us-gaap Inventory Net
InventoryNet
42053000 USD
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16500000 USD
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InventoryRawMaterialsNetOfReserves
16070000 USD
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
8371000 USD
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CY2017Q2 us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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1533000 USD
us-gaap Investment Income Interest
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2906000 USD
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352168000 USD
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1601000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
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us-gaap Net Cash Provided By Used In Continuing Operations
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62745000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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219194000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2444000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-204986000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
49280000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3662000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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11021000 USD
us-gaap Net Income Loss
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-19743000 USD
CY2018Q2 us-gaap Net Income Loss
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2564000 USD
us-gaap Net Income Loss
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-8116000 USD
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9720000 USD
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3942000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-7651000 USD
CY2017Q2 us-gaap Operating Expenses
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us-gaap Operating Expenses
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170046000 USD
CY2018Q2 us-gaap Operating Expenses
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77566000 USD
us-gaap Operating Expenses
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159109000 USD
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OperatingIncomeLoss
-15780000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-29829000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
6541000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-395000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due
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49847000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
5366000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
5245000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7604000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
8122000 USD
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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19577000 USD
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3933000 USD
us-gaap Other Adjustments To Income Discontinued Operations
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80000 USD
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825000 USD
CY2018Q2 us-gaap Other Assets Noncurrent
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692000 USD
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18000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-34000 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
356000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-91000 USD
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
18000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-34000 USD
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
356000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-91000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
16498000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
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15886000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
80000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
89000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-78000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
11000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
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PaymentsToAcquireBusinessesNetOfCashAcquired
15000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8771000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7818000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
274791000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
182749000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6694000 USD
CY2018Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6039000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
345000000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
82782000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
244562000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2613000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1492000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
156256000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
165279000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
107046000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
111276000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
118191000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18856000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
35487000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12239000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26617000 USD
CY2017Q2 us-gaap Restricted Stock Expense
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1389000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
2611000 USD
CY2018Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
1819000 USD
us-gaap Restricted Stock Expense
RestrictedStockExpense
3609000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-389136000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
70139000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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155004000 USD
CY2017Q2 us-gaap Revenues
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70934000 USD
us-gaap Revenues
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140217000 USD
CY2018Q2 us-gaap Revenues
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84107000 USD
us-gaap Revenues
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158714000 USD
CY2017Q2 us-gaap Royalty Revenue
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665000 USD
us-gaap Royalty Revenue
RoyaltyRevenue
1317000 USD
CY2018Q2 us-gaap Royalty Revenue
RoyaltyRevenue
390000 USD
us-gaap Royalty Revenue
RoyaltyRevenue
710000 USD
CY2017Q2 us-gaap Sales Revenue Goods Net
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70139000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
138564000 USD
CY2018Q2 us-gaap Sales Revenue Goods Net
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80717000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
155004000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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CY2018Q2 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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88439000 USD
CY2017Q2 us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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14744000 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
7047000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15432000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
18.85
CY2018Q2 us-gaap Share Price
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32.05
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
CY2017Q4 us-gaap Short Term Investments
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257221000 USD
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254450000 USD
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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34985 shares
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
952000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1492000 USD
CY2017Q4 us-gaap Stockholders Equity
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CY2018Q2 us-gaap Stockholders Equity
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290513000 USD
CY2017Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
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14146000 USD
CY2017Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
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14000000 USD
CY2018Q2 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
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14146000 USD
CY2017Q4 us-gaap Taxes Payable Current
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76000 USD
CY2018Q2 us-gaap Taxes Payable Current
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0 USD
CY2017Q4 us-gaap Treasury Stock Shares
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0 shares
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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40160000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39079000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41694000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40751000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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40160000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40796000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40751000 shares

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