2014 Q4 Form 10-Q Financial Statement

#000157791615000003 Filed on February 10, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4
Revenue $249.4M $208.9M
YoY Change 19.4% 1.2%
Cost Of Revenue $94.53M $72.74M
YoY Change 29.96% 25.03%
Gross Profit $154.9M $136.2M
YoY Change 13.76% -8.15%
Gross Profit Margin 62.1% 65.18%
Selling, General & Admin $85.39M $73.13M
YoY Change 16.77% 19.03%
% of Gross Profit 55.12% 53.7%
Research & Development $716.0K $1.042M
YoY Change -31.29% -56.07%
% of Gross Profit 0.46% 0.77%
Depreciation & Amortization $14.40M $9.953M
YoY Change 44.71% 42.12%
% of Gross Profit 9.3% 7.31%
Operating Expenses $89.25M $74.92M
YoY Change 19.12% 16.72%
Operating Profit $65.67M $61.25M
YoY Change 7.21% -27.13%
Interest Expense $4.900M $4.500M
YoY Change 8.89% 28.57%
% of Operating Profit 7.46% 7.35%
Other Income/Expense, Net $4.413M $4.512M
YoY Change -2.19% 29.28%
Pretax Income $70.08M $65.76M
YoY Change 6.56% -24.88%
Income Tax $4.270M $14.28M
% Of Pretax Income 6.09% 21.72%
Net Earnings $9.271M $6.404M
YoY Change 44.77% 221.65%
Net Earnings / Revenue 3.72% 3.07%
Basic Earnings Per Share -$0.93 -$114.70
Diluted Earnings Per Share -$0.93 -$114.70
COMMON SHARES
Basic Shares Outstanding 35.59M shares 32.38M shares
Diluted Shares Outstanding 35.59M shares 32.38M shares

Balance Sheet

Concept 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $347.4M $233.9M
YoY Change 48.53%
Cash & Equivalents $129.6M $277.8M
Short-Term Investments $217.8M $75.80M
Other Short-Term Assets $46.30M $37.20M
YoY Change 24.46%
Inventory $27.68M $16.12M
Prepaid Expenses
Receivables $86.79M $68.69M
Other Receivables $1.500M $2.200M
Total Short-Term Assets $509.6M $271.9M
YoY Change 87.43%
LONG-TERM ASSETS
Property, Plant & Equipment $145.4M $124.1M
YoY Change 17.19%
Goodwill $214.5M $90.29M
YoY Change 137.59%
Intangibles $43.76M $10.67M
YoY Change 310.05%
Long-Term Investments $122.2M $174.8M
YoY Change -30.09%
Other Assets $45.35M $38.76M
YoY Change 17.0%
Total Long-Term Assets $922.7M $283.0M
YoY Change 226.09%
TOTAL ASSETS
Total Short-Term Assets $509.6M $271.9M
Total Long-Term Assets $922.7M $283.0M
Total Assets $1.432B $554.9M
YoY Change 158.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.02M $24.06M
YoY Change 20.6%
Accrued Expenses $32.88M $32.50M
YoY Change 1.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $18.60M $27.40M
YoY Change -32.12%
Total Short-Term Liabilities $240.1M $6.966M
YoY Change 3346.12%
LONG-TERM LIABILITIES
Long-Term Debt $16.00M $198.9M
YoY Change -91.96%
Other Long-Term Liabilities $3.865M $5.592M
YoY Change -30.88%
Total Long-Term Liabilities $3.865M $5.592M
YoY Change -30.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $240.1M $6.966M
Total Long-Term Liabilities $3.865M $5.592M
Total Liabilities $542.1M $186.1M
YoY Change 191.34%
SHAREHOLDERS EQUITY
Retained Earnings -$2.690B -$2.402B
YoY Change 11.99%
Common Stock -$56.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $889.5M $635.4M
YoY Change
Total Liabilities & Shareholders Equity $1.432B $554.9M
YoY Change 158.14%

Cashflow Statement

Concept 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $9.271M $6.404M
YoY Change 44.77% 221.65%
Depreciation, Depletion And Amortization $14.40M $9.953M
YoY Change 44.71% 42.12%
Cash From Operating Activities $107.8M $131.7M
YoY Change -18.15%
INVESTING ACTIVITIES
Capital Expenditures $18.05M $13.72M
YoY Change 31.57% 102.36%
Acquisitions
YoY Change
Other Investing Activities -$32.20M -$194.2M
YoY Change -83.42%
Cash From Investing Activities -$50.20M -$207.9M
YoY Change -75.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.60M 158.8M
YoY Change -114.23%
NET CHANGE
Cash From Operating Activities 107.8M 131.7M
Cash From Investing Activities -50.20M -207.9M
Cash From Financing Activities -22.60M 158.8M
Net Change In Cash 35.00M 82.60M
YoY Change -57.63%
FREE CASH FLOW
Cash From Operating Activities $107.8M $131.7M
Capital Expenditures $18.05M $13.72M
Free Cash Flow $89.75M $118.0M
YoY Change -23.93%

Facts In Submission

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-2469873000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2689660000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2401766000 USD
CY2013Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
48582000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
92330000 USD
CY2014Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
66696000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
130260000 USD
CY2013Q4 us-gaap Sales Revenue Net
SalesRevenueNet
208909000 USD
CY2014Q4 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
70074000 USD
us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
129295000 USD
CY2013Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
160327000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
357155000 USD
us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
111449000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
449485000 USD
CY2014Q4 us-gaap Sales Revenue Net
SalesRevenueNet
249445000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
478753000 USD
CY2013Q4 us-gaap Sales Revenue Services Gross
SalesRevenueServicesGross
58197000 USD
CY2014Q4 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
182749000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
348493000 USD
CY2013Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
73126000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
135769000 USD
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
85391000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
156557000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6819000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13844000 USD
CY2014Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
674621 shares
CY2014Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
27.00
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
156394000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
446000 USD
CY2014Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2470311000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2688550000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-2430323000 USD
CY2014Q2 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
3244674000 USD
CY2014Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
3578802000 USD
CY2013Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
2799121000 USD
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32375000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19001000 shares
CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35589000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33965000 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32375000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19001000 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35589000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33965000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has reclassified certain prior period amounts to be consistent with the current period presentation and corrected certain classification differences in the consolidated statements of cash flows.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates in the Preparation of Financial Statements</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the Company's consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. Estimates are evaluated on an ongoing basis, including allowances for doubtful accounts, useful lives of property and equipment, stock-based compensation, payables under the tax receivable agreement, values of investments not publicly traded, the valuation allowance on deferred tax assets and the fair value of purchased intangible assets and goodwill. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.</font></div></div>

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