2015 Q4 Form 10-K Financial Statement

#000119312516478369 Filed on February 25, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2015 2014 Q4
Revenue $204.4M $682.7M $168.9M
YoY Change 20.97% 15.71% 10.13%
Cost Of Revenue $53.20M $213.4M $46.10M
YoY Change 15.4% 15.32% 5.25%
Gross Profit $151.2M $469.2M $122.8M
YoY Change 23.1% 15.89% 12.05%
Gross Profit Margin 73.98% 68.73% 72.7%
Selling, General & Admin $80.60M $278.1M $63.10M
YoY Change 27.73% 13.94% 4.64%
% of Gross Profit 53.31% 59.27% 51.38%
Research & Development $32.10M $126.4M $28.10M
YoY Change 14.23% 16.38% 36.41%
% of Gross Profit 21.23% 26.93% 22.88%
Depreciation & Amortization $5.500M $23.09M $6.200M
YoY Change -11.29% -1.11% 6.9%
% of Gross Profit 3.64% 4.92% 5.05%
Operating Expenses $114.3M $404.6M $93.00M
YoY Change 22.9% 14.49% 12.32%
Operating Profit $36.79M $64.66M $29.69M
YoY Change 23.9% 25.46% 22.17%
Interest Expense -$600.0K -$4.200M -$1.000M
YoY Change -40.0% 16.67% 900.0%
% of Operating Profit -1.63% -6.5% -3.37%
Other Income/Expense, Net $300.0K -$1.044M $0.00
YoY Change 127.45% -100.0%
Pretax Income $36.50M $60.51M $28.71M
YoY Change 27.11% 26.07% 18.13%
Income Tax $15.50M $24.18M $8.600M
% Of Pretax Income 42.47% 39.97% 29.95%
Net Earnings $20.96M $36.32M $20.10M
YoY Change 4.25% 9.22% 29.19%
Net Earnings / Revenue 10.26% 5.32% 11.9%
Basic Earnings Per Share $0.27 $0.47 $0.27
Diluted Earnings Per Share $0.26 $0.46 $0.26
COMMON SHARES
Basic Shares Outstanding 76.42M shares 76.51M shares 76.35M shares
Diluted Shares Outstanding 79.04M shares

Balance Sheet

Concept 2015 Q4 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $219.1M $219.1M $211.2M
YoY Change 3.74% 3.74% 34.78%
Cash & Equivalents $93.03M $93.00M $114.6M
Short-Term Investments $126.1M $126.1M $96.60M
Other Short-Term Assets $10.79M $10.80M $9.544M
YoY Change 13.07% -52.0% 4.33%
Inventory
Prepaid Expenses
Receivables $211.8M $211.8M $154.8M
Other Receivables $4.800M $4.800M $4.500M
Total Short-Term Assets $446.5M $446.5M $393.1M
YoY Change 13.59% 13.58% 12.89%
LONG-TERM ASSETS
Property, Plant & Equipment $31.32M $31.30M $30.16M
YoY Change 3.86% 3.64% 4.14%
Goodwill $46.78M $46.86M
YoY Change -0.18% 7.8%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.030M $69.80M $2.783M
YoY Change 44.81% -3.06% 10.17%
Total Long-Term Assets $181.3M $181.3M $194.7M
YoY Change -6.91% -6.88% 3.43%
TOTAL ASSETS
Total Short-Term Assets $446.5M $446.5M $393.1M
Total Long-Term Assets $181.3M $181.3M $194.7M
Total Assets $627.8M $627.8M $587.8M
YoY Change 6.8% 6.81% 9.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.68M $12.70M $4.752M
YoY Change 166.73% 164.58% 29.45%
Accrued Expenses $42.77M $89.80M $42.96M
YoY Change -0.44% 13.81% 35.84%
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 $267.2M $267.2M $229.6M
YoY Change 16.35% 16.38% 20.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.29M $37.70M $17.71M
YoY Change -8.02% -40.63% -6.01%
Total Long-Term Liabilities $16.29M $37.70M $17.71M
YoY Change -8.02% -40.63% -6.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $267.2M $267.2M $229.6M
Total Long-Term Liabilities $16.29M $37.70M $17.71M
Total Liabilities $304.9M $304.9M $293.1M
YoY Change 4.03% 4.03% 10.73%
SHAREHOLDERS EQUITY
Retained Earnings $180.2M $153.1M
YoY Change 17.72% 19.74%
Common Stock $146.2M $142.3M
YoY Change 2.76% 1.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $527.0M $322.9M $294.7M
YoY Change
Total Liabilities & Shareholders Equity $627.8M $627.8M $587.8M
YoY Change 6.8% 6.81% 9.57%

Cashflow Statement

Concept 2015 Q4 2015 2014 Q4
OPERATING ACTIVITIES
Net Income $20.96M $36.32M $20.10M
YoY Change 4.25% 9.22% 29.19%
Depreciation, Depletion And Amortization $5.500M $23.09M $6.200M
YoY Change -11.29% -1.11% 6.9%
Cash From Operating Activities $12.90M $67.80M $5.000M
YoY Change 158.0% -34.37% -285.19%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M $11.02M -$5.700M
YoY Change -82.46% -3.86% 307.14%
Acquisitions $1.671M
YoY Change -57.35%
Other Investing Activities -$600.0K -$33.40M -$9.500M
YoY Change -93.68% 27.48% -58.52%
Cash From Investing Activities -$1.800M -$44.50M -$15.20M
YoY Change -88.16% 18.04% -37.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $22.83M
YoY Change 48.04%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.00M -40.70M -10.00M
YoY Change 50.0% 48.54% 270.37%
NET CHANGE
Cash From Operating Activities 12.90M 67.80M 5.000M
Cash From Investing Activities -1.800M -44.50M -15.20M
Cash From Financing Activities -15.00M -40.70M -10.00M
Net Change In Cash -3.900M -17.40M -20.20M
YoY Change -80.69% -145.55% -31.99%
FREE CASH FLOW
Cash From Operating Activities $12.90M $67.80M $5.000M
Capital Expenditures -$1.000M $11.02M -$5.700M
Free Cash Flow $13.90M $56.78M $10.70M
YoY Change 29.91% -38.17% -923.08%

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OpenTaxYearsByMajorTaxJurisdictions
2012 to the present
CY2015 pega Number Of Customers Accounted For More Than Ten Percent Of Accounts Receivable
NumberOfCustomersAccountedForMoreThanTenPercentOfAccountsReceivable
1 Customer
CY2015 pega Number Of Customers Accounted For More Than Ten Percent Of Revenue
NumberOfCustomersAccountedForMoreThanTenPercentOfRevenue
0 Customer
CY2015 pega Lease Expiration Year
LeaseExpirationYear
2021
CY2015 pega More Likely Than Not Likelihood Percentage
MoreLikelyThanNotLikelihoodPercentage
0.50 pure
CY2015 pega Income Tax Examination Interest Expense And Credits
IncomeTaxExaminationInterestExpenseAndCredits
-600000
CY2013Q4 us-gaap Restructuring Charges
RestructuringCharges
1700000
CY2013Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.12
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
14541000
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
14627000
CY2014Q1 us-gaap Revenues
Revenues
140464000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
9765000
CY2014Q1 us-gaap Gross Profit
GrossProfit
94551000
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
9260000
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
11909000
CY2015Q1 us-gaap Revenues
Revenues
153918000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
5935000
CY2015Q1 us-gaap Gross Profit
GrossProfit
103859000
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2387000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
2222000
CY2014Q2 us-gaap Revenues
Revenues
142985000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
1504000
CY2014Q2 us-gaap Gross Profit
GrossProfit
96294000
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.04
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.04
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4501000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
5250000
CY2015Q2 us-gaap Revenues
Revenues
162019000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
3104000
CY2015Q2 us-gaap Gross Profit
GrossProfit
107238000
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2352000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4997000
CY2014Q3 us-gaap Revenues
Revenues
137631000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
1882000
CY2014Q3 us-gaap Gross Profit
GrossProfit
91249000
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
200000
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10246000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
10711000
CY2015Q3 us-gaap Revenues
Revenues
162403000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
6325000
CY2015Q3 us-gaap Gross Profit
GrossProfit
106962000
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
28714000
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
29693000
CY2014Q4 us-gaap Revenues
Revenues
168924000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
20104000
CY2014Q4 us-gaap Gross Profit
GrossProfit
122816000
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
36498000
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
36791000
CY2015Q4 us-gaap Revenues
Revenues
204355000
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
20958000
CY2015Q4 us-gaap Gross Profit
GrossProfit
151190000

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