2020 Q2 Form 10-Q Financial Statement

#000139681420000029 Filed on August 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $75.51M $102.6M $91.31M
YoY Change -26.41% 21.99% 22.39%
Cost Of Revenue $22.31M $25.20M $27.30M
YoY Change -11.49% 20.49% 19.31%
Gross Profit $53.20M $77.40M $64.01M
YoY Change -31.27% 22.49% 23.76%
Gross Profit Margin 70.46% 75.44% 70.1%
Selling, General & Admin $43.34M $49.13M $47.31M
YoY Change -11.77% 11.02% 7.05%
% of Gross Profit 81.47% 63.47% 73.9%
Research & Development $13.62M $17.83M $14.38M
YoY Change -23.6% 45.66% 0.04%
% of Gross Profit 25.6% 23.03% 22.47%
Depreciation & Amortization $3.000M $3.500M $3.600M
YoY Change -14.29% 25.0% 30.34%
% of Gross Profit 5.64% 4.52% 5.62%
Operating Expenses $56.96M $97.33M $90.23M
YoY Change -41.47% 25.48% 10.66%
Operating Profit -$7.147M $5.275M $1.079M
YoY Change -235.49% -19.35% -115.55%
Interest Expense $5.456M $5.878M $5.814M
YoY Change -7.18% 8.91% 12.74%
% of Operating Profit 111.43% 538.83%
Other Income/Expense, Net -$164.0K -$4.148M -$3.597M
YoY Change -96.05% 5.23% -2.99%
Pretax Income -$7.311M $1.127M -$2.518M
YoY Change -748.71% -56.64% -76.35%
Income Tax -$42.00K -$1.600M $253.0K
% Of Pretax Income -141.97%
Net Earnings -$7.269M $2.730M -$2.771M
YoY Change -366.26% 6.47% -74.05%
Net Earnings / Revenue -9.63% 2.66% -3.03%
Basic Earnings Per Share -$0.17 $0.07 -$0.07
Diluted Earnings Per Share -$0.17 $0.06 -$0.07
COMMON SHARES
Basic Shares Outstanding 42.22M shares 41.38M shares 41.24M shares
Diluted Shares Outstanding 42.22M shares 42.35M shares 41.24M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $326.8M $292.2M $412.4M
YoY Change 11.84% -21.3% 21.37%
Cash & Equivalents $78.55M $59.74M $215.0M
Short-Term Investments $248.2M $232.5M $197.4M
Other Short-Term Assets $18.30M $8.500M $9.400M
YoY Change 115.29% 41.67% 22.08%
Inventory $66.69M $52.70M $47.03M
Prepaid Expenses
Receivables $44.01M $41.15M $39.77M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $455.8M $394.6M $508.7M
YoY Change 15.51% -13.28% 21.48%
LONG-TERM ASSETS
Property, Plant & Equipment $113.3M $105.5M $107.1M
YoY Change 7.4% -5.2% -1.99%
Goodwill $99.50M $100.5M $62.00M
YoY Change -1.03% 67.81% 7.84%
Intangibles $100.5M $108.3M
YoY Change -7.26%
Long-Term Investments $10.00M $42.40M $14.10M
YoY Change -76.42% 170.06% -60.61%
Other Assets $560.0K
YoY Change -26.22%
Total Long-Term Assets $410.3M $393.2M $210.5M
YoY Change 4.34% 109.58% 3.53%
TOTAL ASSETS
Total Short-Term Assets $455.8M $394.6M $508.7M
Total Long-Term Assets $410.3M $393.2M $210.5M
Total Assets $866.1M $787.8M $719.2M
YoY Change 9.93% 22.59% 15.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.160M $13.35M $13.37M
YoY Change -31.37% -6.4% -10.35%
Accrued Expenses $47.68M $51.91M $39.70M
YoY Change -8.14% 35.05% 20.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $70.58M $83.00M $58.99M
YoY Change -14.96% 56.54% 21.96%
LONG-TERM LIABILITIES
Long-Term Debt $314.2M $298.2M $294.4M
YoY Change 5.37% 5.26% 5.26%
Other Long-Term Liabilities $2.984M $8.993M $8.993M
YoY Change -66.82% -43.39% -41.84%
Total Long-Term Liabilities $2.984M $8.993M $8.993M
YoY Change -66.82% -43.39% -41.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.58M $83.00M $58.99M
Total Long-Term Liabilities $2.984M $8.993M $8.993M
Total Liabilities $478.0M $446.2M $391.6M
YoY Change 7.12% 26.7% 14.01%
SHAREHOLDERS EQUITY
Retained Earnings -$398.5M -$388.4M -$391.2M
YoY Change 2.6% -1.88% -1.83%
Common Stock $43.00K $42.00K $41.00K
YoY Change 2.38% 2.44% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares
Shareholders Equity $388.1M $341.7M $327.5M
YoY Change
Total Liabilities & Shareholders Equity $866.1M $787.8M $719.2M
YoY Change 9.93% 22.59% 15.61%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$7.269M $2.730M -$2.771M
YoY Change -366.26% 6.47% -74.05%
Depreciation, Depletion And Amortization $3.000M $3.500M $3.600M
YoY Change -14.29% 25.0% 30.34%
Cash From Operating Activities -$15.63M $22.76M $3.499M
YoY Change -168.67% 66.01% -230.07%
INVESTING ACTIVITIES
Capital Expenditures -$8.910M -$2.050M $2.018M
YoY Change 334.63% -22.35% -61.07%
Acquisitions
YoY Change
Other Investing Activities $45.03M -$179.8M $80.50M
YoY Change -125.05% -388.94% -1675.34%
Cash From Investing Activities $36.13M -$181.8M $78.48M
YoY Change -119.87% -405.19% -862.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.460M 3.740M $530.0K
YoY Change -7.49% 85.15% 26.49%
NET CHANGE
Cash From Operating Activities -15.63M 22.76M $3.499M
Cash From Investing Activities 36.13M -181.8M $78.48M
Cash From Financing Activities 3.460M 3.740M $530.0K
Net Change In Cash 23.96M -155.3M $82.51M
YoY Change -115.43% -306.24% 19592.12%
FREE CASH FLOW
Cash From Operating Activities -$15.63M $22.76M $3.499M
Capital Expenditures -$8.910M -$2.050M $2.018M
Free Cash Flow -$6.720M $24.81M $1.481M
YoY Change -127.09% 51.74% -118.81%

Facts In Submission

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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
42.80
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1346703 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
46.72
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
427606 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
27.26
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
150954 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
41.93
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
31982 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
61.24
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7442539 shares
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
44.34
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
22.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
36668 shares
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-7269000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
2730000 USD
us-gaap Net Income Loss
NetIncomeLoss
889000 USD
us-gaap Net Income Loss
NetIncomeLoss
-41000 USD
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42221000 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41384000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42126000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41312000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42221000 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42345000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42861000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41312000 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7522000 shares
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4616000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5533000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6538000 shares
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-6645000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
3760000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
6400000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
5580000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-666000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-2633000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-5155000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-6970000 USD
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7311000 USD
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1127000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1245000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1390000 USD
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1600000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1300000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-1800000 USD
CY2019Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-1800000 USD
CY2019Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0 USD
CY2020Q2 us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
200000 USD
us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
100000 USD
CY2019Q2 us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
100000 USD
us-gaap Discontinued Operation Tax Effect Of Income Loss From Disposal Of Discontinued Operation
DiscontinuedOperationTaxEffectOfIncomeLossFromDisposalOfDiscontinuedOperation
100000 USD
CY2019Q4 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
3500000 USD

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