$PLXS
PLEXUS CORP

2015 Q2 Form 10-Q Financial Statement

#000078578615000013 Filed on May 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q1
Revenue $651.3M $557.6M
YoY Change 4.96% -0.04%
Cost Of Revenue $591.5M $504.8M
YoY Change 5.27% -0.2%
Gross Profit $59.78M $52.84M
YoY Change 2.02% 1.56%
Gross Profit Margin 9.18% 9.48%
Selling, General & Admin $30.33M $27.79M
YoY Change 3.92% -3.62%
% of Gross Profit 50.73% 52.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.90M $11.90M
YoY Change -1.65% -3.25%
% of Gross Profit 19.91% 22.52%
Operating Expenses $30.33M $27.79M
YoY Change 3.92% -3.62%
Operating Profit $29.45M $19.00M
YoY Change 4.45% -18.06%
Interest Expense $3.383M $3.082M
YoY Change 10.74% -15.33%
% of Operating Profit 11.49% 16.22%
Other Income/Expense, Net -$60.00K $671.0K
YoY Change -104.72%
Pretax Income $26.80M $17.27M
YoY Change -1.42% -13.34%
Income Tax $3.203M -$1.244M
% Of Pretax Income 11.95% -7.2%
Net Earnings $23.59M $18.52M
YoY Change -4.03% 3.01%
Net Earnings / Revenue 3.62% 3.32%
Basic Earnings Per Share $0.70 $0.55
Diluted Earnings Per Share $0.69 $0.53
COMMON SHARES
Basic Shares Outstanding 33.61M shares 33.87M shares
Diluted Shares Outstanding 34.34M shares 34.70M shares

Balance Sheet

Concept 2015 Q2 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $356.3M $323.7M
YoY Change 7.87% 17.07%
Cash & Equivalents $356.3M $323.7M
Short-Term Investments
Other Short-Term Assets $33.30M $29.30M
YoY Change 2.15% 20.08%
Inventory $557.0M $462.2M
Prepaid Expenses
Receivables $342.2M $301.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.289B $1.117B
YoY Change 6.69% -0.36%
LONG-TERM ASSETS
Property, Plant & Equipment $323.7M $333.3M
YoY Change -4.33% 12.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $40.08M $42.42M
YoY Change 1.67% 1.95%
Total Long-Term Assets $367.3M $378.2M
YoY Change -3.41% 11.07%
TOTAL ASSETS
Total Short-Term Assets $1.289B $1.117B
Total Long-Term Assets $367.3M $378.2M
Total Assets $1.656B $1.495B
YoY Change 4.27% 2.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $407.4M $348.2M
YoY Change -1.44% 3.11%
Accrued Expenses $75.00M $90.60M
YoY Change -8.09% 16.6%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.800M $3.900M
YoY Change 14.29% 34.48%
Total Short-Term Liabilities $568.4M $486.6M
YoY Change 3.45% -5.55%
LONG-TERM LIABILITIES
Long-Term Debt $260.0M $256.1M
YoY Change -1.17% -1.04%
Other Long-Term Liabilities $14.04M $13.45M
YoY Change 4.19% -25.55%
Total Long-Term Liabilities $279.3M $271.7M
YoY Change 0.21% -1.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $568.4M $486.6M
Total Long-Term Liabilities $279.3M $271.7M
Total Liabilities $847.7M $758.3M
YoY Change 2.36% -4.26%
SHAREHOLDERS EQUITY
Retained Earnings $813.1M $715.4M
YoY Change 9.88% 13.28%
Common Stock $503.0K $498.0K
YoY Change 0.8% 1.84%
Preferred Stock
YoY Change
Treasury Stock (at cost) $495.0M $464.5M
YoY Change 4.81% 10.17%
Treasury Stock Shares 16.69M shares 15.94M shares
Shareholders Equity $808.5M $736.5M
YoY Change
Total Liabilities & Shareholders Equity $1.656B $1.495B
YoY Change 4.27% 2.3%

Cashflow Statement

Concept 2015 Q2 2014 Q1
OPERATING ACTIVITIES
Net Income $23.59M $18.52M
YoY Change -4.03% 3.01%
Depreciation, Depletion And Amortization $11.90M $11.90M
YoY Change -1.65% -3.25%
Cash From Operating Activities $131.0M $16.00M
YoY Change 244.74% -70.59%
INVESTING ACTIVITIES
Capital Expenditures -$7.100M -$8.800M
YoY Change -74.37% -68.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $300.0K
YoY Change -100.0% 200.0%
Cash From Investing Activities -$7.100M -$8.600M
YoY Change -71.94% -68.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.700M $7.600M
YoY Change 0.0% -50.97%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.400M -6.700M
YoY Change 59.32% -71.97%
NET CHANGE
Cash From Operating Activities 131.0M 16.00M
Cash From Investing Activities -7.100M -8.600M
Cash From Financing Activities -9.400M -6.700M
Net Change In Cash 114.5M 700.0K
YoY Change 1583.82% -78.13%
FREE CASH FLOW
Cash From Operating Activities $131.0M $16.00M
Capital Expenditures -$7.100M -$8.800M
Free Cash Flow $138.1M $24.80M
YoY Change 110.2% -69.72%

Facts In Submission

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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board ("FASB") issued amended guidance for revenue recognition. The standard's core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under current guidance. This may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is not permitted. Companies have the option of using either a full or modified retrospective approach in applying this standard. The Company is currently in the process of evaluating the impact of adoption on its Consolidated Financial Statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2014, the FASB issued final guidance that changes the criteria for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the definition of a discontinued operation. The revised guidance defines a discontinued operation as (1) a component of an entity or group of components that has been disposed of by sale, disposed of other than by sale or is classified as held for sale that represents a strategic shift that has or will have a major effect on an entity's operations and financial results or (2) an acquired business or nonprofit activity that is classified as held for sale on the date of acquisition. The guidance does not change the presentation requirements for discontinued operations in the statement where net income is presented but does require the reclassification of assets and liabilities of a discontinued operation in the statement of financial position for all prior periods presented. The guidance is effective prospectively for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years, and for all businesses that, on acquisition, are classified as held for sale that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in previously issued financial statements. The adoption of this guidance is not expected to have a material impact on the Company's Consolidated Financial Statements.</font></div></div>

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