$PLUS
EPLUS INC

2019 Q2 Form 10-Q Financial Statement

#000114036119014491 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $381.4M $356.5M
YoY Change 6.97% -4.52%
Cost Of Revenue $288.7M $275.8M
YoY Change 4.68% -6.75%
Gross Profit $92.64M $80.70M
YoY Change 14.79% 4.0%
Gross Profit Margin 24.29% 22.64%
Selling, General & Admin $65.79M $56.97M
YoY Change 15.48% 4.14%
% of Gross Profit 71.01% 70.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.964M $4.500M
YoY Change 10.31% 40.63%
% of Gross Profit 5.36% 5.58%
Operating Expenses $69.88M $60.23M
YoY Change 16.01% 6.42%
Operating Profit $22.76M $20.47M
YoY Change 11.19% -2.52%
Interest Expense $628.0K $476.0K
YoY Change 31.93% -219.0%
% of Operating Profit 2.76% 2.33%
Other Income/Expense, Net -$45.00K $97.00K
YoY Change -146.39% -67.67%
Pretax Income $22.72M $20.57M
YoY Change 10.44% -1.12%
Income Tax $6.528M $5.295M
% Of Pretax Income 28.74% 25.74%
Net Earnings $16.19M $15.27M
YoY Change 5.99% 13.98%
Net Earnings / Revenue 4.24% 4.28%
Basic Earnings Per Share $1.21 $1.14
Diluted Earnings Per Share $1.20 $1.12
COMMON SHARES
Basic Shares Outstanding 13.36M 13.43M
Diluted Shares Outstanding 13.46M 13.60M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.60M $57.50M
YoY Change -38.09% -41.45%
Cash & Equivalents $35.60M $57.50M
Short-Term Investments
Other Short-Term Assets $8.227M $32.70M
YoY Change -74.84% -38.42%
Inventory $58.21M $52.10M
Prepaid Expenses $7.402M
Receivables $366.2M $321.0M
Other Receivables $140.3M $108.3M
Total Short-Term Assets $626.2M $571.6M
YoY Change 9.56% -5.6%
LONG-TERM ASSETS
Property, Plant & Equipment $6.821M $7.200M
YoY Change -5.26% 10.77%
Goodwill $110.8M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $30.21M $10.40M
YoY Change 190.49% 92.59%
Total Long-Term Assets $248.6M $188.8M
YoY Change 31.66% 26.12%
TOTAL ASSETS
Total Short-Term Assets $626.2M $571.6M
Total Long-Term Assets $248.6M $188.8M
Total Assets $874.8M $760.4M
YoY Change 15.05% 0.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $245.0M $228.2M
YoY Change 7.36% -9.05%
Accrued Expenses $8.832M $24.10M
YoY Change -63.35% 3.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $64.60M $42.10M
YoY Change 53.44% 46.18%
Total Short-Term Liabilities $407.4M $346.4M
YoY Change 17.61% -9.2%
LONG-TERM LIABILITIES
Long-Term Debt $8.400M $12.50M
YoY Change -32.8% 81.16%
Other Long-Term Liabilities $25.46M $20.00M
YoY Change 27.32% 153.16%
Total Long-Term Liabilities $25.46M $32.50M
YoY Change -21.65% 119.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $407.4M $346.4M
Total Long-Term Liabilities $25.46M $32.50M
Total Liabilities $446.2M $380.5M
YoY Change 17.27% -4.45%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $428.6M $379.9M
YoY Change
Total Liabilities & Shareholders Equity $874.8M $760.4M
YoY Change 15.04% 0.69%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $16.19M $15.27M
YoY Change 5.99% 13.98%
Depreciation, Depletion And Amortization $4.964M $4.500M
YoY Change 10.31% 40.63%
Cash From Operating Activities -$87.40M -$49.00M
YoY Change 78.37% 1300.0%
INVESTING ACTIVITIES
Capital Expenditures -$1.500M -$8.800M
YoY Change -82.95% 79.59%
Acquisitions
YoY Change
Other Investing Activities $300.0K -$23.00M
YoY Change -101.3% 158.43%
Cash From Investing Activities -$1.200M -$31.80M
YoY Change -96.23% 130.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $13.32M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 44.33M 20.00M
YoY Change 121.64% 244.83%
NET CHANGE
Cash From Operating Activities -87.40M -49.00M
Cash From Investing Activities -1.200M -31.80M
Cash From Financing Activities 44.33M 20.00M
Net Change In Cash -44.21M -60.80M
YoY Change -27.28% 428.7%
FREE CASH FLOW
Cash From Operating Activities -$87.40M -$49.00M
Capital Expenditures -$1.500M -$8.800M
Free Cash Flow -$85.90M -$40.20M
YoY Change 113.68% -2971.43%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2019Q2 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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CY2019Q2 dei Entity Address Address Line1
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15395 Dulles Technology Drive
CY2019Q2 dei Entity Address City Or Town
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CY2019Q2 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
20171-3413
CY2019Q2 dei City Area Code
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CY2019Q2 dei Local Phone Number
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CY2019Q2 dei Security12b Title
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Common Stock, $.01 par value
CY2019Q2 dei Trading Symbol
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CY2019Q2 dei Entity Central Index Key
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CY2019Q2 dei Current Fiscal Year End Date
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CY2019Q2 dei Entity Filer Category
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67628000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
31109000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
36519000
CY2019Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
67595000
CY2019Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
28667000
CY2019Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
38928000
CY2019Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000
CY2018Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1800000
CY2019Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2614000
CY2019Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
281000
CY2019Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
6000
CY2019Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2889000
CY2018Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2664000
CY2018Q2 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
179000
CY2018Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1000
CY2018Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2842000
CY2019Q2 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
CY2019Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
114000
CY2019Q2 plus Contingent Consideration At Fair Value
ContingentConsiderationAtFairValue
9343000
CY2019Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
50000
CY2019Q1 plus Contingent Consideration At Fair Value
ContingentConsiderationAtFairValue
8942000
CY2018Q2 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
400000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
16188000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
15273000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13356000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13434000
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
101000
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
163000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13457000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13597000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.21
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.14
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.20
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.12
CY2018Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
500000
CY2019Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
500000
CY2019Q2 us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
400000
CY2018Q2 us-gaap Payment For Contingent Consideration Liability Investing Activities
PaymentForContingentConsiderationLiabilityInvestingActivities
0
CY2019Q2 us-gaap Payment For Contingent Consideration Liability Investing Activities
PaymentForContingentConsiderationLiabilityInvestingActivities
0
CY2019Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2019Q2 us-gaap Revenues
Revenues
381372000
CY2018Q2 us-gaap Revenues
Revenues
356532000
CY2019Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
288733000
CY2018Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
275829000
CY2019Q2 us-gaap Gross Profit
GrossProfit
92639000
CY2018Q2 us-gaap Gross Profit
GrossProfit
80703000
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
65787000
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
56966000
CY2019Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3463000
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2790000
CY2019Q2 us-gaap Interest Expense
InterestExpense
628000
CY2018Q2 us-gaap Interest Expense
InterestExpense
476000
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
69878000
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
60232000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
22761000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
20471000
CY2019Q2 plus Other Expense And Income
OtherExpenseAndIncome
45000
CY2018Q2 plus Other Expense And Income
OtherExpenseAndIncome
-97000
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
22716000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
20568000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4964000
CY2018Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4500000
CY2019Q2 plus Purchases Of Property Equipment And Operating Lease Equipment And Assets To Be Leased Or Financed
PurchasesOfPropertyEquipmentAndOperatingLeaseEquipmentAndAssetsToBeLeasedOrFinanced
1518000
CY2018Q2 plus Purchases Of Property Equipment And Operating Lease Equipment And Assets To Be Leased Or Financed
PurchasesOfPropertyEquipmentAndOperatingLeaseEquipmentAndAssetsToBeLeasedOrFinanced
1630000
CY2019Q2 us-gaap Assets
Assets
874813000
CY2018Q2 us-gaap Assets
Assets
760399000
CY2019Q2 plus Financing And Other
FinancingAndOther
4854000
CY2018Q2 plus Financing And Other
FinancingAndOther
5405000
CY2019Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
363681000
CY2018Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
341459000
CY2019Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
148790
CY2019Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
10700000
CY2019Q2 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
38811
CY2019Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2800000
CY2018Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
70445
CY2018Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
5500000
CY2018Q2 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
37086
CY2018Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3600000
CY2018Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
500000
CY2019Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1900000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1700000
CY2019Q2 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
700000

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