2018 Q4 Form 10-Q Financial Statement

#000139681418000031 Filed on November 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $95.12M $83.45M $79.08M
YoY Change 20.28% 23.93% 8.47%
Cost Of Revenue $23.98M $19.07M $21.30M
YoY Change 12.6% 4.59% -9.85%
Gross Profit $71.14M $64.38M $57.78M
YoY Change 23.11% 31.11% 17.25%
Gross Profit Margin 74.79% 77.15% 73.07%
Selling, General & Admin $44.60M $44.18M $39.20M
YoY Change 13.78% 8.7% 12.97%
% of Gross Profit 62.7% 68.62% 67.84%
Research & Development $14.20M $14.90M $10.00M
YoY Change 42.0% 26.51% -41.52%
% of Gross Profit 19.96% 23.14% 17.31%
Depreciation & Amortization $4.060M $3.500M $3.660M
YoY Change 10.93% 2.94% 12.27%
% of Gross Profit 5.71% 5.44% 6.33%
Operating Expenses $82.85M $79.40M $70.61M
YoY Change 17.33% 11.98% -6.3%
Operating Profit -$11.72M $4.048M -$12.83M
YoY Change -8.68% -213.33% -50.81%
Interest Expense -$3.800M $5.642M -$3.800M
YoY Change 0.0% 10.04% 153.33%
% of Operating Profit 139.38%
Other Income/Expense, Net -$200.0K -$4.750M $0.00
YoY Change 19.35% -100.0%
Pretax Income $8.300M -$702.0K $4.600M
YoY Change 80.43% -90.7% -215.0%
Income Tax $0.00 -$62.00K $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings $8.285M -$640.0K $4.595M
YoY Change 80.3% -91.58% -215.66%
Net Earnings / Revenue 8.71% -0.77% 5.81%
Basic Earnings Per Share
Diluted Earnings Per Share $201.9K -$14.63K $113.3K
COMMON SHARES
Basic Shares Outstanding 41.11M shares 41.00M shares 40.57M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $383.5M $386.4M $311.3M
YoY Change 23.19% 31.38% 80.36%
Cash & Equivalents $132.5M $230.9M $54.13M
Short-Term Investments $250.9M $155.5M $257.2M
Other Short-Term Assets $7.900M $6.500M $6.700M
YoY Change 17.91% 16.07% -27.96%
Inventory $48.57M $44.88M $41.41M
Prepaid Expenses
Receivables $38.00M $34.27M $31.66M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $478.0M $472.0M $391.1M
YoY Change 22.21% 29.03% 60.89%
LONG-TERM ASSETS
Property, Plant & Equipment $108.7M $110.1M $107.0M
YoY Change 1.52% 3.88% 5.97%
Goodwill $62.04M $62.04M $55.20M
YoY Change 12.4% 17.15% 18.1%
Intangibles $0.00
YoY Change
Long-Term Investments $40.00M $14.10M $74.20M
YoY Change -46.09% -82.55%
Other Assets $657.0K $747.0K $825.0K
YoY Change -20.36% 37.06% 32.21%
Total Long-Term Assets $211.4M $187.0M $237.3M
YoY Change -10.91% -22.17% 59.9%
TOTAL ASSETS
Total Short-Term Assets $478.0M $472.0M $391.1M
Total Long-Term Assets $211.4M $187.0M $237.3M
Total Assets $689.4M $659.0M $628.4M
YoY Change 9.7% 8.74% 60.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.37M $13.80M $14.66M
YoY Change -1.98% 12.36% 95.15%
Accrued Expenses $45.87M $40.36M $41.06M
YoY Change 11.71% 1.66% 11.98%
Deferred Revenue
YoY Change
Short-Term Debt $300.0K $300.0K $300.0K
YoY Change 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.66M $54.52M $56.22M
YoY Change 7.91% 4.18% 25.38%
LONG-TERM LIABILITIES
Long-Term Debt $290.6M $286.9M $276.2M
YoY Change 5.21% 5.21% 154.09%
Other Long-Term Liabilities $16.87M $16.36M $16.50M
YoY Change 2.28% 0.81% -12.77%
Total Long-Term Liabilities $16.87M $16.36M $16.50M
YoY Change 2.28% 0.81% -12.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.66M $54.52M $56.22M
Total Long-Term Liabilities $16.87M $16.36M $16.50M
Total Liabilities $368.1M $357.8M $348.9M
YoY Change 5.51% 4.83% 102.27%
SHAREHOLDERS EQUITY
Retained Earnings -$388.2M -$396.5M -$389.1M
YoY Change -0.23% 0.71% 12.39%
Common Stock $41.00K $41.00K $41.00K
YoY Change 0.0% 0.0% 10.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares 0.000 shares
Shareholders Equity $321.2M $301.3M $279.5M
YoY Change
Total Liabilities & Shareholders Equity $689.4M $659.0M $628.4M
YoY Change 9.7% 8.74% 60.52%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $8.285M -$640.0K $4.595M
YoY Change 80.3% -91.58% -215.66%
Depreciation, Depletion And Amortization $4.060M $3.500M $3.660M
YoY Change 10.93% 2.94% 12.27%
Cash From Operating Activities $21.22M $16.63M $16.94M
YoY Change 25.27% -691.81% -2.36%
INVESTING ACTIVITIES
Capital Expenditures -$2.240M -$4.450M -$5.080M
YoY Change -55.91% -17.9% 4.1%
Acquisitions $15.00M
YoY Change
Other Investing Activities -$120.9M $98.91M $13.77M
YoY Change -978.14% -548.57% -775.0%
Cash From Investing Activities -$123.2M $94.46M $8.690M
YoY Change -1517.26% -443.87% -225.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.520M 2.990M 2.280M
YoY Change 54.39% 11.15% 113.08%
NET CHANGE
Cash From Operating Activities 21.22M 16.63M 16.94M
Cash From Investing Activities -123.2M 94.46M 8.690M
Cash From Financing Activities 3.520M 2.990M 2.280M
Net Change In Cash -98.42M 114.1M 27.91M
YoY Change -452.63% -513.48% 142.48%
FREE CASH FLOW
Cash From Operating Activities $21.22M $16.63M $16.94M
Capital Expenditures -$2.240M -$4.450M -$5.080M
Free Cash Flow $23.46M $21.08M $22.02M
YoY Change 6.54% 707.66% -0.94%

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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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-12401000 USD
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4048000 USD
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CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
305000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
213000 USD
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-3000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-37000 USD
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305000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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213000 USD
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169000 USD
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OtherNonoperatingIncomeExpense
-694000 USD
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OtherNonoperatingIncomeExpense
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11000000 USD
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0 USD
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15000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14190000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12271000 USD
us-gaap Payments To Acquire Short Term Investments
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436017000 USD
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182750000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
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0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6694000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
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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
223962000 USD
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
345602000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5304000 USD
us-gaap Proceeds From Stock Options Exercised
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4474000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
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156256000 USD
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CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
110063000 USD
CY2018Q3 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
900000 USD
us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
900000 USD
us-gaap Repayments Of Debt
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118193000 USD
us-gaap Repayments Of Debt
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0 USD
CY2017Q3 us-gaap Research And Development Expense
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11775000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
47262000 USD
CY2018Q3 us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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CY2017Q3 us-gaap Restricted Stock Expense
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2161000 USD
us-gaap Restricted Stock Expense
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4772000 USD
CY2018Q3 us-gaap Restricted Stock Expense
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us-gaap Restricted Stock Expense
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CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2018Q3 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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CY2017Q3 us-gaap Revenues
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us-gaap Revenues
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CY2018Q3 us-gaap Revenues
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242163000 USD
CY2017Q3 us-gaap Royalty Revenue
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358000 USD
us-gaap Royalty Revenue
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1676000 USD
CY2018Q3 us-gaap Royalty Revenue
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740000 USD
us-gaap Royalty Revenue
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1450000 USD
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205515000 USD
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CY2017Q3 us-gaap Share Based Compensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
8108000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
23539000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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18.90
CY2018Q3 us-gaap Share Price
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49.15
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
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CY2017Q4 us-gaap Short Term Investments
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CY2018Q3 us-gaap Short Term Investments
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CY2017Q4 us-gaap Stockholders Equity
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CY2017Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
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14000000 USD
CY2017Q4 us-gaap Summary Of Investments Other Than Investments In Related Parties Carrying Amount
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14146000 USD
CY2018Q3 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
CY2018Q3 us-gaap Taxes Payable Current
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35000 USD
CY2017Q4 us-gaap Treasury Stock Shares
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CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40995000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40833000 shares

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