2023 Q2 Form 10-Q Financial Statement

#000114519723000039 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $396.5M $358.1M
YoY Change 32.43% 21.23%
Cost Of Revenue $131.6M $117.6M
YoY Change 20.62% 37.22%
Gross Profit $264.9M $240.5M
YoY Change 39.2% 14.69%
Gross Profit Margin 66.81% 67.16%
Selling, General & Admin $178.7M $162.7M
YoY Change 2.47% 26.42%
% of Gross Profit 67.46% 67.65%
Research & Development $55.10M $50.10M
YoY Change 29.34% 16.24%
% of Gross Profit 20.8% 20.83%
Depreciation & Amortization $18.10M $17.20M
YoY Change 14.56% 12.42%
% of Gross Profit 6.83% 7.15%
Operating Expenses $233.8M $212.8M
YoY Change 448.83% 393.74%
Operating Profit $31.10M $27.70M
YoY Change -216.48% -26.91%
Interest Expense $9.700M $9.400M
YoY Change 6.59% 4.44%
% of Operating Profit 31.19% 33.94%
Other Income/Expense, Net -$200.0K -$200.0K
YoY Change -81.82% -166.67%
Pretax Income $28.50M $24.60M
YoY Change -178.95% -16.04%
Income Tax $1.200M $800.0K
% Of Pretax Income 4.21% 3.25%
Net Earnings $27.30M $23.80M
YoY Change -178.0% -14.39%
Net Earnings / Revenue 6.89% 6.65%
Basic Earnings Per Share $0.39 $0.34
Diluted Earnings Per Share $0.39 $0.34
COMMON SHARES
Basic Shares Outstanding 69.70M shares 69.54M shares
Diluted Shares Outstanding 70.14M shares 70.10M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $541.4M $518.7M
YoY Change -17.65% -26.79%
Cash & Equivalents $660.1M $635.9M
Short-Term Investments
Other Short-Term Assets $218.3M $208.0M
YoY Change 75.06% 185.71%
Inventory $411.3M $386.1M
Prepaid Expenses
Receivables $250.5M $159.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.422B $1.330B
YoY Change 8.59% 3.47%
LONG-TERM ASSETS
Property, Plant & Equipment $601.5M $596.6M
YoY Change 12.26% 10.85%
Goodwill $51.70M $51.70M
YoY Change -0.19% -0.19%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $211.6M $210.6M
YoY Change 30.7% 49.36%
Total Long-Term Assets $964.3M $959.1M
YoY Change 19.85% 22.37%
TOTAL ASSETS
Total Short-Term Assets $1.422B $1.330B
Total Long-Term Assets $964.3M $959.1M
Total Assets $2.386B $2.289B
YoY Change 12.87% 10.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.5M $85.90M
YoY Change 87.94% 64.56%
Accrued Expenses $271.1M $263.6M
YoY Change 40.83% 94.11%
Deferred Revenue $19.40M $22.20M
YoY Change 207.94% 484.21%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $29.20M $27.80M
YoY Change 11.03% 8.17%
Total Short-Term Liabilities $425.0M $383.3M
YoY Change 52.17% 78.28%
LONG-TERM LIABILITIES
Long-Term Debt $1.369B $1.369B
YoY Change -1.2% -1.56%
Other Long-Term Liabilities $38.30M $34.20M
YoY Change 42.91% 101.18%
Total Long-Term Liabilities $1.407B $1.403B
YoY Change -0.36% -0.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $425.0M $383.3M
Total Long-Term Liabilities $1.407B $1.403B
Total Liabilities $1.832B $1.786B
YoY Change 8.31% 10.1%
SHAREHOLDERS EQUITY
Retained Earnings -$533.2M -$560.5M
YoY Change -10.55% -0.11%
Common Stock $100.0K $100.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $553.9M $502.8M
YoY Change
Total Liabilities & Shareholders Equity $2.386B $2.289B
YoY Change 12.87% 10.63%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $27.30M $23.80M
YoY Change -178.0% -14.39%
Depreciation, Depletion And Amortization $18.10M $17.20M
YoY Change 14.56% 12.42%
Cash From Operating Activities $44.00M $500.0K
YoY Change 73.91% -103.65%
INVESTING ACTIVITIES
Capital Expenditures $18.10M $10.50M
YoY Change -194.76% -17.97%
Acquisitions
YoY Change
Other Investing Activities -$5.000M -$5.000M
YoY Change 78.57% -83.87%
Cash From Investing Activities -$23.10M -$42.10M
YoY Change 5.48% -10.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.200M -$12.10M
YoY Change -300.0% -40.39%
NET CHANGE
Cash From Operating Activities 44.00M $500.0K
Cash From Investing Activities -23.10M -$42.10M
Cash From Financing Activities 3.200M -$12.10M
Net Change In Cash 24.10M -$53.80M
YoY Change 1238.89% -33.99%
FREE CASH FLOW
Cash From Operating Activities $44.00M $500.0K
Capital Expenditures $18.10M $10.50M
Free Cash Flow $25.90M -$10.00M
YoY Change -41.67% -62.26%

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