2019 Q1 Form 10-Q Financial Statement

#000101385719000014 Filed on May 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $212.5M $235.2M
YoY Change -9.62% -8.24%
Cost Of Revenue $74.44M $75.61M
YoY Change -1.56% 11.05%
Gross Profit $138.1M $159.6M
YoY Change -13.45% -15.22%
Gross Profit Margin 64.98% 67.85%
Selling, General & Admin $121.5M $104.8M
YoY Change 15.92% 27.84%
% of Gross Profit 88.0% 65.71%
Research & Development $50.60M $46.79M
YoY Change 8.15% 16.1%
% of Gross Profit 36.63% 29.32%
Depreciation & Amortization $6.755M $10.32M
YoY Change -34.56% 69.55%
% of Gross Profit 4.89% 6.47%
Operating Expenses $172.1M $151.6M
YoY Change 13.52% 23.97%
Operating Profit -$34.03M $7.936M
YoY Change -528.78% -87.96%
Interest Expense $0.00 -$300.0K
YoY Change -100.0% -130.0%
% of Operating Profit -3.78%
Other Income/Expense, Net $0.00 $363.0K
YoY Change -100.0% -230.11%
Pretax Income -$37.02M $7.978M
YoY Change -563.99% -88.02%
Income Tax -$8.300M -$4.222M
% Of Pretax Income -52.92%
Net Earnings -$28.72M $12.20M
YoY Change -335.39% -76.97%
Net Earnings / Revenue -13.51% 5.19%
Basic Earnings Per Share -$0.37 $0.16
Diluted Earnings Per Share -$0.37 $0.15
COMMON SHARES
Basic Shares Outstanding 78.58M shares 78.24M shares
Diluted Shares Outstanding 78.58M shares 83.10M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $202.2M $254.8M
YoY Change -20.64% 72.4%
Cash & Equivalents $110.4M $165.8M
Short-Term Investments $91.80M $89.00M
Other Short-Term Assets $63.73M $50.69M
YoY Change 25.72% 157.95%
Inventory
Prepaid Expenses
Receivables $135.4M $165.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $562.7M $624.2M
YoY Change -9.84% 41.35%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $72.90M $73.02M
YoY Change -0.16% 0.26%
Intangibles
YoY Change
Long-Term Investments $2.100M
YoY Change
Other Assets $190.4M $128.7M
YoY Change 47.97% 2795.25%
Total Long-Term Assets $393.8M $381.8M
YoY Change 3.15% 67.4%
TOTAL ASSETS
Total Short-Term Assets $562.7M $624.2M
Total Long-Term Assets $393.8M $381.8M
Total Assets $956.6M $1.006B
YoY Change -4.91% 50.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.56M $12.18M
YoY Change -5.06% -14.48%
Accrued Expenses $40.95M $48.28M
YoY Change -15.18% 25.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $302.1M $280.1M
YoY Change 7.86% 0.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.34M $23.77M
YoY Change -48.09% 51.07%
Total Long-Term Liabilities $12.34M $23.77M
YoY Change -48.09% 51.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $302.1M $280.1M
Total Long-Term Liabilities $12.34M $23.77M
Total Liabilities $368.1M $343.8M
YoY Change 7.07% 11.07%
SHAREHOLDERS EQUITY
Retained Earnings $479.8M $517.9M
YoY Change -7.36% 132.22%
Common Stock $120.0M $146.7M
YoY Change -18.25% 2.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $588.4M $663.8M
YoY Change
Total Liabilities & Shareholders Equity $956.6M $1.006B
YoY Change -4.91% 50.22%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$28.72M $12.20M
YoY Change -335.39% -76.97%
Depreciation, Depletion And Amortization $6.755M $10.32M
YoY Change -34.56% 69.55%
Cash From Operating Activities $22.70M $55.66M
YoY Change -59.21% 71.77%
INVESTING ACTIVITIES
Capital Expenditures $2.790M -$2.100M
YoY Change -232.86% -186.96%
Acquisitions
YoY Change
Other Investing Activities $2.790M $2.069M
YoY Change 34.85% -23.51%
Cash From Investing Activities -$1.466M -$31.28M
YoY Change -95.31% 745.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.22M $20.71M
YoY Change 12.15% 51.2%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$25.59M -$23.05M
YoY Change 11.0% 44.08%
NET CHANGE
Cash From Operating Activities $22.70M $55.66M
Cash From Investing Activities -$1.466M -$31.28M
Cash From Financing Activities -$25.59M -$23.05M
Net Change In Cash -$4.055M $3.511M
YoY Change -215.49% -72.35%
FREE CASH FLOW
Cash From Operating Activities $22.70M $55.66M
Capital Expenditures $2.790M -$2.100M
Free Cash Flow $19.91M $57.76M
YoY Change -65.52% 92.61%

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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
11324000 USD
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11604000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13764000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15784000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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7465000 USD
CY2018Q4 us-gaap Liabilities
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CY2019Q1 us-gaap Liabilities
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CY2018Q4 us-gaap Liabilities And Stockholders Equity
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CY2019Q1 us-gaap Liabilities And Stockholders Equity
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CY2019Q1 us-gaap Operating Expenses
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OperatingIncomeLoss
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CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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4300000 USD
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0 USD
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
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45325000 USD
CY2019Q1 us-gaap Operating Lease Payments
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CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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46464000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
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41800000 USD
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0.057
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P4Y3M11D
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11084000 USD
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13262000 USD
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63731000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
147823000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
190433000 USD
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
4450000 USD
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
1627000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
4262000 USD
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2001000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
374000 USD
CY2018Q4 us-gaap Other Liabilities Current
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0 USD
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12447000 USD
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CY2019Q1 us-gaap Other Liabilities Noncurrent
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12339000 USD
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-1137000 USD
CY2019Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1471000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
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363000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
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CY2018Q1 us-gaap Payments For Proceeds From Other Investing Activities
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2069000 USD
CY2019Q1 us-gaap Payments For Proceeds From Other Investing Activities
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2790000 USD
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20708000 USD
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PaymentsForRepurchaseOfCommonStock
23224000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
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2344000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
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2363000 USD
CY2018Q1 us-gaap Payments To Acquire Investments
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35204000 USD
CY2019Q1 us-gaap Payments To Acquire Investments
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7224000 USD
CY2018Q4 us-gaap Preferred Stock Shares Authorized
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1000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Value
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0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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5995000 USD
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2018Q1 us-gaap Research And Development Expense
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510863000 USD
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479779000 USD
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235182000 USD
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212546000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation
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459270000 USD
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
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632582000 USD
CY2018Q1 us-gaap Revenue Remaining Performance Obligation Percentage
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1
CY2019Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
1
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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8034000 USD
CY2018Q1 us-gaap Selling And Marketing Expense
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88383000 USD
CY2019Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
108865000 USD
CY2018Q1 us-gaap Share Based Compensation
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15109000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
18350000 USD
CY2019Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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500000 shares
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2018Q1 us-gaap Stock Repurchased And Retired During Period Value
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5689000 USD
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Value
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7587000 USD
CY2017Q4 us-gaap Stockholders Equity
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655870000 USD
CY2018Q1 us-gaap Stockholders Equity
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CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
621531000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
588429000 USD
CY2018Q4 us-gaap Taxes Payable Current
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10387000 USD
CY2019Q1 us-gaap Taxes Payable Current
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7954000 USD
CY2018Q4 us-gaap Unbilled Receivables Current
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172656000 USD
CY2019Q1 us-gaap Unbilled Receivables Current
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161480000 USD
CY2019Q1 us-gaap Variable Lease Cost
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1321000 USD
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4866000 shares
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83102000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78584000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78236000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78584000 shares

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