2017 Q2 Form 10-Q Financial Statement

#000147409817000044 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $205.7M $212.3M
YoY Change -3.09% 7.38%
Cost Of Revenue $121.1M $122.3M
YoY Change -0.98% 5.43%
Gross Profit $84.60M $90.00M
YoY Change -6.0% 10.16%
Gross Profit Margin 41.12% 42.4%
Selling, General & Admin $18.50M $18.80M
YoY Change -1.6% 9.94%
% of Gross Profit 21.87% 20.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.90M $25.80M
YoY Change 0.39% 3.61%
% of Gross Profit 30.61% 28.67%
Operating Expenses $44.50M $44.60M
YoY Change -0.22% 6.19%
Operating Profit $40.18M $45.33M
YoY Change -11.35% 27.98%
Interest Expense $9.705M $11.43M
YoY Change -15.11% 23.51%
% of Operating Profit 24.15% 25.22%
Other Income/Expense, Net -$64.00K -$101.0K
YoY Change -36.63%
Pretax Income $45.09M $76.42M
YoY Change -40.99% 153.87%
Income Tax $1.423M $1.982M
% Of Pretax Income 3.16% 2.59%
Net Earnings $43.51M $74.19M
YoY Change -41.35% 180.06%
Net Earnings / Revenue 21.15% 34.95%
Basic Earnings Per Share $0.57 $0.97
Diluted Earnings Per Share $0.57 $0.96
COMMON SHARES
Basic Shares Outstanding 69.17M shares 71.92M shares
Diluted Shares Outstanding 69.47M shares 72.32M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.30M $36.30M
YoY Change -60.61% 9.34%
Cash & Equivalents $14.34M $36.31M
Short-Term Investments
Other Short-Term Assets $40.50M $36.50M
YoY Change 10.96% -25.66%
Inventory
Prepaid Expenses
Receivables $34.80M $29.90M
Other Receivables $0.00 $0.00
Total Short-Term Assets $89.60M $102.7M
YoY Change -12.76% -9.83%
LONG-TERM ASSETS
Property, Plant & Equipment $2.507B $2.643B
YoY Change -5.13% -2.23%
Goodwill
YoY Change
Intangibles $29.33M $29.92M
YoY Change -1.97% -1.94%
Long-Term Investments $244.4M
YoY Change -1.19%
Other Assets $6.700M $7.900M
YoY Change -15.19% -62.38%
Total Long-Term Assets $2.514B $2.895B
YoY Change -13.16% -2.57%
TOTAL ASSETS
Total Short-Term Assets $89.60M $102.7M
Total Long-Term Assets $2.514B $2.895B
Total Assets $2.604B $2.998B
YoY Change -13.15% -2.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $149.8M $159.0M
YoY Change -5.79% 20.0%
Accrued Expenses $1.900M $2.600M
YoY Change -26.92% 4.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $203.0M $214.2M
YoY Change -5.23% 18.93%
LONG-TERM LIABILITIES
Long-Term Debt $886.3M $1.031B
YoY Change -13.99% -10.17%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $886.3M $1.031B
YoY Change -13.99% -10.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $203.0M $214.2M
Total Long-Term Liabilities $886.3M $1.031B
Total Liabilities $1.089B $1.245B
YoY Change -12.48% -6.23%
SHAREHOLDERS EQUITY
Retained Earnings -$172.6M -$84.60M
YoY Change 104.02% -22.34%
Common Stock $688.0K $719.0K
YoY Change -4.31% 0.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.510B $1.750B
YoY Change
Total Liabilities & Shareholders Equity $2.604B $2.998B
YoY Change -13.15% -2.84%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $43.51M $74.19M
YoY Change -41.35% 180.06%
Depreciation, Depletion And Amortization $25.90M $25.80M
YoY Change 0.39% 3.61%
Cash From Operating Activities $56.30M $70.60M
YoY Change -20.25% 16.89%
INVESTING ACTIVITIES
Capital Expenditures -$25.60M -$24.40M
YoY Change 4.92% -92.66%
Acquisitions
YoY Change
Other Investing Activities $203.2M $108.7M
YoY Change 86.94% -108800.0%
Cash From Investing Activities $177.6M $84.30M
YoY Change 110.68% -125.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -252.0M -147.0M
YoY Change 71.43% -153.16%
NET CHANGE
Cash From Operating Activities 56.30M 70.60M
Cash From Investing Activities 177.6M 84.30M
Cash From Financing Activities -252.0M -147.0M
Net Change In Cash -18.10M 7.900M
YoY Change -329.11% 68.09%
FREE CASH FLOW
Cash From Operating Activities $56.30M $70.60M
Capital Expenditures -$25.60M -$24.40M
Free Cash Flow $81.90M $95.00M
YoY Change -13.79% -75.8%

Facts In Submission

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OtherNoncashIncomeExpense
-1263000 USD
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OtherNoncashIncomeExpense
-1438000 USD
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OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
-64000 USD
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0 USD
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0 USD
us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
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OtherPreferredStockDividendsAndAdjustments
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-3000000 USD
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0 USD
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PaymentsForRepurchaseOfCommonStock
2496000 USD
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PaymentsForRepurchaseOfCommonStock
95862000 USD
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PaymentsForRepurchaseOfRedeemablePreferredStock
140000000 USD
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PaymentsForRepurchaseOfRedeemablePreferredStock
0 USD
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PaymentsOfDividendsCommonStock
50376000 USD
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PaymentsOfDividendsCommonStock
54747000 USD
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8047000 USD
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950000 USD
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PaymentsOfFinancingCosts
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10000 USD
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us-gaap Preferred Stock Dividends Income Statement Impact
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0.01
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PreferredStockSharesAuthorized
100000000 shares
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10000000 shares
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PreferredStockSharesIssued
10000000 shares
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10000000 shares
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PreferredStockSharesOutstanding
10000000 shares
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100000 USD
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100000 USD
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40461000 USD
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125000000 USD
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0 USD
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254000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
194922000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
106000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
107565000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
203189000 USD
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74438000 USD
us-gaap Profit Loss
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91075000 USD
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ProfitLoss
43670000 USD
us-gaap Profit Loss
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57759000 USD
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405275000 USD
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3031139000 USD
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2883318000 USD
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2672654000 USD
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6705000 USD
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-169227000 USD
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RetainedEarningsAccumulatedDeficit
-172590000 USD
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212272000 USD
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RevenueFromLeasedAndOwnedHotels
408517000 USD
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SecuredDebt
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3901000 USD
us-gaap Share Based Compensation
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3186000 USD
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P6Y
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us-gaap Stock Issued1
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606000 USD
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StockIssued1
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140025000 USD
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StockRepurchasedDuringPeriodValue
2496000 USD
us-gaap Stock Repurchased During Period Value
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95863000 USD
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StockholdersEquity
1605684000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
1510344000 USD
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1760834000 USD
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1753126000 USD
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1514451000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
185000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
92000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
52000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72319784 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72373376 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69468354 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70706802 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71922904 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71879859 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69168788 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
70383149 shares
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
550000 USD
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
776000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management&#8217;s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.</font></div></div>

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