2015 Q1 Form 10-Q Financial Statement

#000162828015003254 Filed on April 30, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $1.033B $888.3M
YoY Change 16.32% 19.1%
Cost Of Revenue $739.6M $629.9M
YoY Change 17.41% 19.02%
Gross Profit $293.7M $258.4M
YoY Change 13.67% 19.28%
Gross Profit Margin 28.43% 29.09%
Selling, General & Admin $119.2M $106.9M
YoY Change 11.57% 14.53%
% of Gross Profit 40.59% 41.35%
Research & Development $38.86M $35.51M
YoY Change 9.43% 12.92%
% of Gross Profit 13.23% 13.74%
Depreciation & Amortization $37.08M $28.07M
YoY Change 32.11% 41.01%
% of Gross Profit 12.62% 10.86%
Operating Expenses $158.1M $142.4M
YoY Change 11.04% 14.13%
Operating Profit $150.3M $126.7M
YoY Change 18.63% 24.24%
Interest Expense $2.910M $2.812M
YoY Change 3.49% 90.9%
% of Operating Profit 1.94% 2.22%
Other Income/Expense, Net -$7.440M $2.105M
YoY Change -453.44% -14.71%
Pretax Income $138.3M $125.1M
YoY Change 10.58% 21.97%
Income Tax $49.75M $44.18M
% Of Pretax Income 35.97% 35.32%
Net Earnings $88.56M $80.90M
YoY Change 9.47% 7.2%
Net Earnings / Revenue 8.57% 9.11%
Basic Earnings Per Share $1.33 $1.23
Diluted Earnings Per Share $1.30 $1.19
COMMON SHARES
Basic Shares Outstanding 66.43M shares 65.83M shares
Diluted Shares Outstanding 68.15M shares 67.96M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $111.0M $101.8M
YoY Change 9.04% -73.27%
Cash & Equivalents $111.0M $101.8M
Short-Term Investments $0.00
Other Short-Term Assets $183.5M $152.3M
YoY Change 20.49% 31.07%
Inventory $629.3M $482.9M
Prepaid Expenses
Receivables $173.2M $150.5M
Other Receivables $5.300M $3.000M
Total Short-Term Assets $1.102B $890.5M
YoY Change 23.78% -11.51%
LONG-TERM ASSETS
Property, Plant & Equipment $558.8M $495.1M
YoY Change 12.87% 80.19%
Goodwill $114.3M $126.3M
YoY Change -9.54% 127.37%
Intangibles $96.16M $100.1M
YoY Change -3.95% 102.14%
Long-Term Investments $96.20M $86.50M
YoY Change 11.21% 25.54%
Other Assets $77.42M $45.84M
YoY Change 68.9% 112.19%
Total Long-Term Assets $978.5M $873.9M
YoY Change 11.97% 76.72%
TOTAL ASSETS
Total Short-Term Assets $1.102B $890.5M
Total Long-Term Assets $978.5M $873.9M
Total Assets $2.081B $1.764B
YoY Change 17.93% 17.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $304.7M $257.8M
YoY Change 18.18% 19.8%
Accrued Expenses $416.6M $398.8M
YoY Change 4.46% 9.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.200M $3.100M
YoY Change -29.03% 19.23%
Total Short-Term Liabilities $750.1M $687.0M
YoY Change 9.18% 14.57%
LONG-TERM LIABILITIES
Long-Term Debt $326.9M $328.7M
YoY Change -0.55% 216.97%
Other Long-Term Liabilities $101.1M $85.37M
YoY Change 18.4% 37.51%
Total Long-Term Liabilities $101.1M $85.37M
YoY Change 18.4% 37.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $750.1M $687.0M
Total Long-Term Liabilities $101.1M $85.37M
Total Liabilities $1.204B $1.139B
YoY Change 5.73% 48.05%
SHAREHOLDERS EQUITY
Retained Earnings $373.6M $204.2M
YoY Change 83.0% -52.67%
Common Stock $665.0K $659.0K
YoY Change 0.91% -3.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $862.3M $615.8M
YoY Change
Total Liabilities & Shareholders Equity $2.081B $1.764B
YoY Change 17.93% 17.56%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $88.56M $80.90M
YoY Change 9.47% 7.2%
Depreciation, Depletion And Amortization $37.08M $28.07M
YoY Change 32.11% 41.01%
Cash From Operating Activities $4.225M $44.75M
YoY Change -90.56% -6.34%
INVESTING ACTIVITIES
Capital Expenditures $30.78M $39.70M
YoY Change -22.46% -1.02%
Acquisitions $0.00
YoY Change
Other Investing Activities -$10.40M -$700.0K
YoY Change 1385.71% -143.75%
Cash From Investing Activities -$41.18M -$40.38M
YoY Change 1.98% 4.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $86.27M $244.0K
YoY Change 35255.33% -99.05%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $19.12M $5.237M
YoY Change 265.15% -111.74%
NET CHANGE
Cash From Operating Activities $4.225M $44.75M
Cash From Investing Activities -$41.18M -$40.38M
Cash From Financing Activities $19.12M $5.237M
Net Change In Cash -$17.83M $9.603M
YoY Change -285.68% -127.17%
FREE CASH FLOW
Cash From Operating Activities $4.225M $44.75M
Capital Expenditures $30.78M $39.70M
Free Cash Flow -$26.56M $5.044M
YoY Change -626.55% -34.16%

Facts In Submission

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CY2014Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2015Q1 us-gaap Operating Expenses
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CY2014Q1 us-gaap Operating Income Loss
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CY2015Q1 us-gaap Operating Income Loss
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1307000 USD
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CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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-16000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
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15000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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566000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1572000 USD
CY2014Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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337000 USD
CY2015Q1 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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935000 USD
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CY2014Q1 us-gaap Other Noncash Income
OtherNoncashIncome
1543000 USD
CY2015Q1 us-gaap Other Noncash Income
OtherNoncashIncome
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CY2014Q1 us-gaap Other Nonoperating Income Expense
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CY2015Q1 us-gaap Other Nonoperating Income Expense
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CY2014Q1 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
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CY2015Q1 us-gaap Payments For Proceeds From Businesses And Interest In Affiliates
PaymentsForProceedsFromBusinessesAndInterestInAffiliates
346000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
244000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2014Q1 us-gaap Payments Of Dividends Common Stock
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CY2015Q1 us-gaap Payments Of Dividends Common Stock
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PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2015Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
10049000 USD
CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
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39703000 USD
CY2015Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
30784000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
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71526000 USD
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
70964000 USD
CY2015Q1 us-gaap Principal Amount Outstanding Of Loans Held In Portfolio
PrincipalAmountOutstandingOfLoansHeldInPortfolio
1221937000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
9365000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
19010000 USD
CY2014Q1 us-gaap Proceeds From Long Term Capital Lease Obligations
ProceedsFromLongTermCapitalLeaseObligations
652838000 USD
CY2015Q1 us-gaap Proceeds From Long Term Capital Lease Obligations
ProceedsFromLongTermCapitalLeaseObligations
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CY2013Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2014Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2014Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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CY2015Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
48634000 USD
CY2014Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2015Q1 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
50000 USD
CY2014Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
53104000 USD
CY2015Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
48634000 USD
CY2014Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
16621000 USD
CY2015Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
18439000 USD
CY2014Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
11027000 USD
CY2015Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
13919000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
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555428000 USD
CY2015Q1 us-gaap Property Plant And Equipment Net
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CY2015Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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CY2014Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2015Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2014Q1 us-gaap Research And Development Expense
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35513000 USD
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
38863000 USD
CY2014Q1 us-gaap Restricted Stock Expense
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4411000 USD
CY2015Q1 us-gaap Restricted Stock Expense
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6757000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
401840000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
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373610000 USD
CY2014Q1 us-gaap Sales Revenue Goods Net
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888346000 USD
CY2015Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1033345000 USD
CY2014Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
65570000 USD
CY2015Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
69685000 USD
CY2014Q1 us-gaap Share Based Compensation
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12785000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
17094000 USD
CY2014Q1 us-gaap Stock Option Plan Expense
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5578000 USD
CY2015Q1 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
6585000 USD
CY2015Q1 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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14695000 USD
CY2015Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
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4479000 shares
CY2015Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
571000 shares
CY2015Q1 us-gaap Stock Repurchased And Retired During Period Value
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86267000 USD
CY2014Q4 us-gaap Stockholders Equity
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861267000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
862278000 USD
CY2014Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
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13528000 USD
CY2015Q1 us-gaap Transfers Of Financial Assets Accounted For As Sale Initial Fair Value Of Liabilities Incurred
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146440000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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67958000 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68146000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
75000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
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87000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
65557000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
66137000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65833000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66429000 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
201000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
205000 shares

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