$PEGA
PEGASYSTEMS INC

2014 Q4 Form 10-Q Financial Statement

#000119312514396283 Filed on November 04, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $168.9M $137.6M $153.4M
YoY Change 10.13% 12.8% 6.64%
Cost Of Revenue $46.10M $46.38M $43.80M
YoY Change 5.25% 21.74% 14.66%
Gross Profit $122.8M $91.25M $109.6M
YoY Change 12.05% 8.74% 3.76%
Gross Profit Margin 72.7% 66.3% 71.46%
Selling, General & Admin $63.10M $57.45M $60.30M
YoY Change 4.64% 15.37% 3.08%
% of Gross Profit 51.38% 62.96% 55.02%
Research & Development $28.10M $28.56M $20.60M
YoY Change 36.41% 44.33% 6.74%
% of Gross Profit 22.88% 31.3% 18.79%
Depreciation & Amortization $6.200M $5.800M $5.800M
YoY Change 6.9% 20.83% 26.09%
% of Gross Profit 5.05% 6.36% 5.29%
Operating Expenses $93.00M $86.25M $82.80M
YoY Change 12.32% 23.0% 6.43%
Operating Profit $29.69M $4.997M $24.30M
YoY Change 22.17% -63.76% -12.54%
Interest Expense -$1.000M -$2.700M -$100.0K
YoY Change 900.0% 575.0% -120.0%
% of Operating Profit -3.37% -54.03% -0.41%
Other Income/Expense, Net $0.00 $19.00K $100.0K
YoY Change -100.0% -101.63% -150.0%
Pretax Income $28.71M $2.352M $24.31M
YoY Change 18.13% -82.46% -13.65%
Income Tax $8.600M $470.0K $8.700M
% Of Pretax Income 29.95% 19.98% 35.79%
Net Earnings $20.10M $1.882M $15.56M
YoY Change 29.19% -78.39% -23.75%
Net Earnings / Revenue 11.9% 1.37% 10.15%
Basic Earnings Per Share $0.27 $0.02 $0.21
Diluted Earnings Per Share $0.26 $0.02 $0.20
COMMON SHARES
Basic Shares Outstanding 76.35M shares 76.35M shares 37.96M shares
Diluted Shares Outstanding 78.65M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $211.2M $228.6M $156.7M
YoY Change 34.78% 21.34% 27.4%
Cash & Equivalents $114.6M $136.5M $80.23M
Short-Term Investments $96.60M $92.00M $76.50M
Other Short-Term Assets $9.544M $10.10M $9.148M
YoY Change 4.33% 45.71% 66.45%
Inventory
Prepaid Expenses
Receivables $154.8M $103.4M $165.6M
Other Receivables $4.500M $12.00M $4.400M
Total Short-Term Assets $393.1M $366.4M $348.2M
YoY Change 12.89% 22.0% 24.8%
LONG-TERM ASSETS
Property, Plant & Equipment $30.16M $28.88M $28.96M
YoY Change 4.14% -0.33% -6.07%
Goodwill $46.86M $45.01M $43.47M
YoY Change 7.8% 120.08% 112.55%
Intangibles $47.88M $56.57M
YoY Change -4.07% -2.85%
Long-Term Investments
YoY Change
Other Assets $2.783M $2.882M $2.526M
YoY Change 10.17% 73.93% 50.36%
Total Long-Term Assets $194.7M $182.8M $188.3M
YoY Change 3.43% 21.3% 17.32%
TOTAL ASSETS
Total Short-Term Assets $393.1M $366.4M $348.2M
Total Long-Term Assets $194.7M $182.8M $188.3M
Total Assets $587.8M $549.2M $536.5M
YoY Change 9.57% 21.77% 22.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.752M $8.060M $3.671M
YoY Change 29.45% 243.42% 10.24%
Accrued Expenses $42.96M $35.04M $31.62M
YoY Change 35.84% 68.94% 103.58%
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 $229.6M $211.8M $190.4M
YoY Change 20.61% 44.32% 22.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $17.71M $17.47M $18.84M
YoY Change -6.01% 0.04% 20.64%
Total Long-Term Liabilities $17.71M $17.47M $18.84M
YoY Change -6.01% 0.04% 20.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $229.6M $211.8M $190.4M
Total Long-Term Liabilities $17.71M $17.47M $18.84M
Total Liabilities $293.1M $270.9M $264.7M
YoY Change 10.73% 38.25% 30.38%
SHAREHOLDERS EQUITY
Retained Earnings $153.1M $135.2M $127.8M
YoY Change 19.74% 19.25% 35.48%
Common Stock $142.3M $141.2M $140.3M
YoY Change 1.38% 1.86% 0.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $294.7M $278.3M $271.8M
YoY Change
Total Liabilities & Shareholders Equity $587.8M $549.2M $536.5M
YoY Change 9.57% 21.77% 22.07%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $20.10M $1.882M $15.56M
YoY Change 29.19% -78.39% -23.75%
Depreciation, Depletion And Amortization $6.200M $5.800M $5.800M
YoY Change 6.9% 20.83% 26.09%
Cash From Operating Activities $5.000M $24.40M -$2.700M
YoY Change -285.19% 27.75% -118.62%
INVESTING ACTIVITIES
Capital Expenditures -$5.700M -$2.900M -$1.400M
YoY Change 307.14% 31.82% -17.65%
Acquisitions
YoY Change
Other Investing Activities -$9.500M -$1.600M -$22.90M
YoY Change -58.52% -85.84% 3171.43%
Cash From Investing Activities -$15.20M -$4.500M -$24.30M
YoY Change -37.45% -66.91% 872.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00M -6.100M -2.700M
YoY Change 270.37% 90.62% 170.0%
NET CHANGE
Cash From Operating Activities 5.000M 24.40M -2.700M
Cash From Investing Activities -15.20M -4.500M -24.30M
Cash From Financing Activities -10.00M -6.100M -2.700M
Net Change In Cash -20.20M 13.80M -29.70M
YoY Change -31.99% 500.0% -370.0%
FREE CASH FLOW
Cash From Operating Activities $5.000M $24.40M -$2.700M
Capital Expenditures -$5.700M -$2.900M -$1.400M
Free Cash Flow $10.70M $27.30M -$1.300M
YoY Change -923.08% 28.17% -108.02%

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dei Document Type
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dei Entity Registrant Name
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PEGASYSTEMS INC
dei Trading Symbol
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<div> <p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>2.&#xA0;&#xA0;&#xA0;&#xA0;NEW ACCOUNTING PRONOUNCEMENTS</b></p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Revenue from Contracts with Customers:</i></b> In May 2014, the Financial Accounting Standard Board (&#x201C;FASB&#x201D;) issued Accounting Standards Update (&#x201C;ASU&#x201D;) No.&#xA0;2014-09, &#x201C;Revenue from Contracts with Customers (Topic 606)&#x201D;. This ASU amends the guidance for revenue recognition to replace numerous, industry-specific requirements and converges areas under this topic with those of the International Financial Reporting Standards. This ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. This ASU also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. Other major provisions include ensuring the time value of money is considered in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The amendments in this ASU are effective for reporting periods beginning after December&#xA0;15, 2016, and early adoption is not permitted. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. This ASU will be effective for the Company January&#xA0;1, 2017. Management is currently assessing the impact the adoption of this ASU will have on the Company&#x2019;s consolidated financial statements.</p> </div>
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