2017 Q4 Form 10-Q Financial Statement

#000147409817000060 Filed on October 23, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q3
Revenue $179.6M $201.8M $209.0M
YoY Change -9.71% -3.43% -3.4%
Cost Of Revenue $115.5M $116.9M $116.9M
YoY Change -5.94% -0.03% -5.19%
Gross Profit $64.10M $84.92M $92.00M
YoY Change -15.88% -7.69% -1.08%
Gross Profit Margin 35.68% 42.08% 44.03%
Selling, General & Admin $18.30M $15.80M $19.10M
YoY Change -13.68% -17.28% -7.28%
% of Gross Profit 28.55% 18.61% 20.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.80M $25.30M $25.40M
YoY Change -4.98% -0.39% 2.83%
% of Gross Profit 38.69% 29.79% 27.61%
Operating Expenses $43.20M $41.00M $44.60M
YoY Change -8.67% -8.07% -1.55%
Operating Profit $20.90M $40.71M $35.34M
YoY Change -27.68% 15.19% -26.0%
Interest Expense -$9.300M $8.969M $10.26M
YoY Change -17.7% -12.56% -7.65%
% of Operating Profit -44.5% 22.03% 29.02%
Other Income/Expense, Net $2.100M $132.0K $1.548M
YoY Change 250.0% -91.47%
Pretax Income $11.90M $32.16M -$34.01M
YoY Change -34.97% -194.58% -184.63%
Income Tax $0.00 $1.593M $1.528M
% Of Pretax Income 0.0% 4.95%
Net Earnings $11.90M $30.44M -$35.42M
YoY Change -35.18% -185.94% -192.93%
Net Earnings / Revenue 6.62% 15.09% -16.95%
Basic Earnings Per Share $0.11 $0.38 -$0.61
Diluted Earnings Per Share $0.11 $0.38 -$0.61
COMMON SHARES
Basic Shares Outstanding 68.95M shares 68.81M shares 71.92M shares
Diluted Shares Outstanding 69.20M shares 71.92M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.40M $14.20M $46.60M
YoY Change -23.95% -69.53% 20.73%
Cash & Equivalents $25.41M $14.19M $46.63M
Short-Term Investments
Other Short-Term Assets $43.60M $43.90M $48.80M
YoY Change 13.25% -10.04% 8.44%
Inventory
Prepaid Expenses
Receivables $29.20M $35.80M $31.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $98.20M $93.90M $127.0M
YoY Change -1.41% -26.06% 4.7%
LONG-TERM ASSETS
Property, Plant & Equipment $2.486B $2.493B $2.588B
YoY Change -8.02% -3.66% -4.09%
Goodwill
YoY Change
Intangibles $29.04M $29.19M $29.78M
YoY Change -1.99% -1.98% -1.94%
Long-Term Investments $183.1M
YoY Change -26.65%
Other Assets $7.100M $6.500M $57.30M
YoY Change -4.05% -88.66% 166.51%
Total Long-Term Assets $2.493B $2.500B $2.828B
YoY Change -8.01% -11.62% -4.76%
TOTAL ASSETS
Total Short-Term Assets $98.20M $93.90M $127.0M
Total Long-Term Assets $2.493B $2.500B $2.828B
Total Assets $2.591B $2.594B $2.955B
YoY Change -7.77% -12.24% -4.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $148.8M $150.1M $164.4M
YoY Change -0.33% -8.7% 10.48%
Accrued Expenses $2.100M $3.300M $3.700M
YoY Change -8.7% -10.81% 42.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $202.1M $205.2M $221.0M
YoY Change -0.88% -7.15% 11.67%
LONG-TERM LIABILITIES
Long-Term Debt $885.2M $872.9M $1.129B
YoY Change -11.15% -22.7% -0.45%
Other Long-Term Liabilities $800.0K
YoY Change
Total Long-Term Liabilities $885.2M $872.9M $1.130B
YoY Change -11.15% -22.75% -0.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $202.1M $205.2M $221.0M
Total Long-Term Liabilities $885.2M $872.9M $1.130B
Total Liabilities $1.087B $1.078B $1.351B
YoY Change -9.4% -20.2% 1.4%
SHAREHOLDERS EQUITY
Retained Earnings -$191.0M -$172.6M -$156.0M
YoY Change 12.87% 10.61% 56.21%
Common Stock $688.0K $688.0K $719.0K
YoY Change -4.31% -4.31% 0.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.499B $1.511B $1.601B
YoY Change
Total Liabilities & Shareholders Equity $2.591B $2.594B $2.955B
YoY Change -7.77% -12.24% -4.38%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income $11.90M $30.44M -$35.42M
YoY Change -35.18% -185.94% -192.93%
Depreciation, Depletion And Amortization $24.80M $25.30M $25.40M
YoY Change -4.98% -0.39% 2.83%
Cash From Operating Activities $42.50M $57.60M $68.50M
YoY Change -21.88% -15.91% 0.88%
INVESTING ACTIVITIES
Capital Expenditures -$17.30M -$16.20M -$28.70M
YoY Change -47.73% -43.55% 36.67%
Acquisitions
YoY Change
Other Investing Activities $7.700M $2.300M -$9.700M
YoY Change -97.58% -123.71% 4750.0%
Cash From Investing Activities -$9.600M -$13.90M -$38.40M
YoY Change -103.37% -63.8% 80.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -21.10M -44.00M -19.80M
YoY Change -94.05% 122.22% -52.17%
NET CHANGE
Cash From Operating Activities 42.50M 57.60M 68.50M
Cash From Investing Activities -9.600M -13.90M -38.40M
Cash From Financing Activities -21.10M -44.00M -19.80M
Net Change In Cash 11.80M -300.0K 10.30M
YoY Change -177.63% -102.91% 98.08%
FREE CASH FLOW
Cash From Operating Activities $42.50M $57.60M $68.50M
Capital Expenditures -$17.30M -$16.20M -$28.70M
Free Cash Flow $59.80M $73.80M $97.20M
YoY Change -31.66% -24.07% 9.34%

Facts In Submission

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10000000 USD
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0 USD
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100000000 shares
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100000 USD
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125000000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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364000000 USD
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ProceedsFromLinesOfCredit
220502000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
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ProceedsFromMinorityShareholders
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us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
107565000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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203479000 USD
CY2016Q3 us-gaap Profit Loss
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-35535000 USD
us-gaap Profit Loss
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55540000 USD
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30571000 USD
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3031139000 USD
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208963000 USD
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us-gaap Share Based Compensation
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P6Y
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CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
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UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
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UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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0 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72376349 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71894313 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Write Off Of Deferred Debt Issuance Cost
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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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