2019 Q1 Form 10-Q Financial Statement

#000078578619000024 Filed on May 03, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2017 Q4
Revenue $818.8M $698.7M $677.3M
YoY Change 17.19% 6.66%
Cost Of Revenue $718.4M $645.7M $613.8M
YoY Change 11.26% 7.55%
Gross Profit $70.64M $52.95M $63.52M
YoY Change 33.4% -1.29%
Gross Profit Margin 8.63% 7.58% 9.38%
Selling, General & Admin $37.46M $35.64M $31.97M
YoY Change 5.12% 4.97%
% of Gross Profit 53.04% 67.3% 50.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.90M $11.90M $11.70M
YoY Change 8.4% 2.21%
% of Gross Profit 18.26% 22.47% 18.42%
Operating Expenses $37.46M $35.64M $31.97M
YoY Change 5.12% 4.97%
Operating Profit $33.17M $17.32M $31.56M
YoY Change 91.59% -6.92%
Interest Expense $3.145M $3.547M $3.725M
YoY Change -11.33% 13.78%
% of Operating Profit 9.48% 20.49% 11.8%
Other Income/Expense, Net -$1.773M -$477.0K -$346.0K
YoY Change 271.7% -48.66%
Pretax Income $28.70M $14.72M $29.04M
YoY Change 94.99% -6.4%
Income Tax $3.900M $2.427M $127.5M
% Of Pretax Income 13.59% 16.49% 439.15%
Net Earnings $24.76M $12.29M -$98.49M
YoY Change 101.45% -449.53%
Net Earnings / Revenue 3.02% 1.76% -14.54%
Basic Earnings Per Share $0.81 $0.37 -$2.93
Diluted Earnings Per Share $0.79 $0.36 -$2.93
COMMON SHARES
Basic Shares Outstanding 30.60M shares 33.54M shares 33.57M shares
Diluted Shares Outstanding 31.39M shares 34.39M shares 33.57M shares

Balance Sheet

Concept 2019 Q1 2018 Q1 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $184.0M $402.5M $506.7M
YoY Change -54.29% 17.02%
Cash & Equivalents $184.0M $402.5M $506.7M
Short-Term Investments
Other Short-Term Assets $31.30M $33.20M $39.50M
YoY Change -5.72% 103.61%
Inventory $802.3M $701.7M $669.9M
Prepaid Expenses
Receivables $445.1M $400.3M $334.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.549B $1.538B $1.551B
YoY Change 0.77% 8.2%
LONG-TERM ASSETS
Property, Plant & Equipment $373.9M $324.5M $318.4M
YoY Change 15.23% 9.32%
Goodwill
YoY Change
Intangibles $7.511M
YoY Change
Long-Term Investments
YoY Change
Other Assets $59.07M $42.47M $41.66M
YoY Change 39.09% 14.42%
Total Long-Term Assets $451.4M $372.4M $365.3M
YoY Change 21.2% 9.88%
TOTAL ASSETS
Total Short-Term Assets $1.549B $1.538B $1.551B
Total Long-Term Assets $451.4M $372.4M $365.3M
Total Assets $2.001B $1.910B $1.916B
YoY Change 4.76% 8.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $476.5M $431.7M $421.0M
YoY Change 10.38% 5.99%
Accrued Expenses $145.9M $115.8M $113.1M
YoY Change 25.99% 26.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $93.20M $180.8M $179.9M
YoY Change -48.45% 129.17%
Total Short-Term Liabilities $844.7M $833.2M $817.2M
YoY Change 1.38% 25.64%
LONG-TERM LIABILITIES
Long-Term Debt $187.1M $27.20M $26.00M
YoY Change 587.87% -85.87%
Other Long-Term Liabilities $20.33M $17.45M $17.33M
YoY Change 16.49% 18.84%
Total Long-Term Liabilities $280.7M $156.3M $165.2M
YoY Change 79.6% -16.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $844.7M $833.2M $817.2M
Total Long-Term Liabilities $280.7M $156.3M $165.2M
Total Liabilities $1.125B $989.5M $982.4M
YoY Change 13.74% 15.7%
SHAREHOLDERS EQUITY
Retained Earnings $1.117B $963.0M $950.7M
YoY Change 16.0% 1.45%
Common Stock $528.0K $524.0K $522.0K
YoY Change 0.76% 1.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $875.4M $920.5M $933.8M
YoY Change
Total Liabilities & Shareholders Equity $2.001B $1.910B $1.916B
YoY Change 4.76% 8.52%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2017 Q4
OPERATING ACTIVITIES
Net Income $24.76M $12.29M -$98.49M
YoY Change 101.45% -449.53%
Depreciation, Depletion And Amortization $12.90M $11.90M $11.70M
YoY Change 8.4% 2.21%
Cash From Operating Activities -$1.200M -$66.30M $69.11M
YoY Change -98.19% -13.02%
INVESTING ACTIVITIES
Capital Expenditures -$29.70M -$12.40M $16.70M
YoY Change 139.52% 140.32%
Acquisitions
YoY Change
Other Investing Activities $100.0K $100.0K $200.0K
YoY Change 0.0% -95.65%
Cash From Investing Activities -$29.60M -$12.30M -$16.53M
YoY Change 140.65% 142.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.547M
YoY Change 35.21%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.50M -36.60M -$109.1M
YoY Change -158.74% 2512.05%
NET CHANGE
Cash From Operating Activities -1.200M -66.30M $69.11M
Cash From Investing Activities -29.60M -12.30M -$16.53M
Cash From Financing Activities 21.50M -36.60M -$109.1M
Net Change In Cash -9.300M -115.2M -$54.40M
YoY Change -91.93% -183.85%
FREE CASH FLOW
Cash From Operating Activities -$1.200M -$66.30M $69.11M
Capital Expenditures -$29.70M -$12.40M $16.70M
Free Cash Flow $28.50M -$53.90M $52.40M
YoY Change -152.88% -27.72%

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CY2019Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
93197000 USD
CY2018Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
188617000 USD
CY2019Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
280317000 USD
CY2018Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
151900000 USD
CY2019Q1 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
237500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-145681000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-25768000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-28842000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-53283000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2841000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-34532000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
12290000 USD
us-gaap Net Income Loss
NetIncomeLoss
-86203000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
24758000 USD
us-gaap Net Income Loss
NetIncomeLoss
46984000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
17315000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
48872000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
33174000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
70125000 USD
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
68163000 USD
CY2019Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
92989000 USD
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
67806000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
55111000 USD
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
59070000 USD
CY2018Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
1229000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
2768000 USD
CY2019Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
1984000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
2362000 USD
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
4773000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
6915000 USD
CY2019Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
515000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1356000 USD
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
12400000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29115000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
54556000 USD
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6002000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
9683000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2499000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1006000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
20235000 USD
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
20326000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
45000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-92000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-477000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-823000 USD
CY2019Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1773000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2885000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
41159000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
106297000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5371000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6400000 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
30302000 USD
CY2019Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
30987000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
504616000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
667025000 USD
us-gaap Proceeds From Previous Acquisition
ProceedsFromPreviousAcquisition
0 USD
CY2018Q4 us-gaap Proceeds From Previous Acquisition
ProceedsFromPreviousAcquisition
1180000 USD
us-gaap Proceeds From Previous Acquisition
ProceedsFromPreviousAcquisition
1180000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
273000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
93000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9194000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1264000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
341306000 USD
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
373918000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
612961000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
581360000 USD
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
417000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
331000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1062246000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2131000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1737000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1117045000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1070061000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
818753000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1623030000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
698651000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1375945000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
789051000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1554595000 USD
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
35637000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
67603000 USD
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37462000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
72894000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8420000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9929000 USD
CY2017Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4756000 USD
CY2018Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
5308000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
6646000 USD
CY2019Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
7283000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1579000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2374000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
1025939000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
933848000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
920503000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
921143000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
905163000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
875444000 USD
CY2018Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
20729000 shares
CY2019Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
22591000 shares
CY2018Q3 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
711138000 USD
CY2019Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
817435000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1700000 USD
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34387000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33552000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31385000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31836000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33538000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33552000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30603000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31003000 shares

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