2024 Q2 Form 10-Q Financial Statement

#000114519724000022 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $488.5M $441.7M
YoY Change 23.2% 23.35%
Cost Of Revenue $157.6M $134.9M
YoY Change 19.76% 14.71%
Gross Profit $330.9M $306.8M
YoY Change 24.92% 27.57%
Gross Profit Margin 67.74% 69.46%
Selling, General & Admin $222.4M $199.7M
YoY Change 24.45% 22.74%
% of Gross Profit 67.21% 65.09%
Research & Development $53.90M $50.20M
YoY Change -2.18% 0.2%
% of Gross Profit 16.29% 16.36%
Depreciation & Amortization $19.20M $18.80M
YoY Change 6.08% 9.3%
% of Gross Profit 5.8% 6.13%
Operating Expenses $276.3M $249.9M
YoY Change 18.18% 17.43%
Operating Profit $54.60M $56.90M
YoY Change 75.56% 105.42%
Interest Expense -$1.700M $10.70M
YoY Change -117.53% 13.83%
% of Operating Profit -3.11% 18.8%
Other Income/Expense, Net -$1.800M -$700.0K
YoY Change 800.0% 250.0%
Pretax Income $51.10M $54.90M
YoY Change 79.3% 123.17%
Income Tax -$137.5M $3.400M
% Of Pretax Income -269.08% 6.19%
Net Earnings $188.6M $51.50M
YoY Change 590.84% 116.39%
Net Earnings / Revenue 38.61% 11.66%
Basic Earnings Per Share $2.69 $0.74
Diluted Earnings Per Share $2.59 $0.73
COMMON SHARES
Basic Shares Outstanding 70.04M shares 69.93M shares
Diluted Shares Outstanding 73.80M shares 73.74M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $715.5M $696.9M
YoY Change 32.16% 34.36%
Cash & Equivalents $821.0M $751.2M
Short-Term Investments
Other Short-Term Assets $253.8M $170.4M
YoY Change 16.26% -18.08%
Inventory $430.9M $430.6M
Prepaid Expenses
Receivables $348.6M $320.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.749B $1.618B
YoY Change 23.02% 21.68%
LONG-TERM ASSETS
Property, Plant & Equipment $677.9M $667.7M
YoY Change 12.7% 11.92%
Goodwill $51.70M $51.70M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $163.6M $187.7M
YoY Change -22.68% -10.87%
Total Long-Term Assets $1.133B $1.006B
YoY Change 17.47% 4.85%
TOTAL ASSETS
Total Short-Term Assets $1.749B $1.618B
Total Long-Term Assets $1.133B $1.006B
Total Assets $2.882B $2.624B
YoY Change 20.78% 14.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $76.80M $75.90M
YoY Change -28.56% -11.64%
Accrued Expenses $371.3M $317.6M
YoY Change 36.96% 20.49%
Deferred Revenue $21.90M $18.20M
YoY Change 12.89% -18.02%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $37.90M $38.90M
YoY Change 29.79% 39.93%
Total Short-Term Liabilities $486.0M $432.4M
YoY Change 14.35% 12.81%
LONG-TERM LIABILITIES
Long-Term Debt $1.360B $1.363B
YoY Change -0.64% -0.45%
Other Long-Term Liabilities $37.30M $38.30M
YoY Change -2.61% 11.99%
Total Long-Term Liabilities $37.30M $38.30M
YoY Change -97.35% -97.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $486.0M $432.4M
Total Long-Term Liabilities $37.30M $38.30M
Total Liabilities $1.883B $1.833B
YoY Change 2.8% 2.63%
SHAREHOLDERS EQUITY
Retained Earnings -$137.9M -$326.5M
YoY Change -74.14% -41.75%
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 $998.4M $790.7M
YoY Change
Total Liabilities & Shareholders Equity $2.882B $2.624B
YoY Change 20.78% 14.63%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $188.6M $51.50M
YoY Change 590.84% 116.39%
Depreciation, Depletion And Amortization $19.20M $18.80M
YoY Change 6.08% 9.3%
Cash From Operating Activities $96.50M $87.60M
YoY Change 119.32% 17420.0%
INVESTING ACTIVITIES
Capital Expenditures $24.90M $22.10M
YoY Change 37.57% 110.48%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$24.90M -$24.00M
YoY Change 7.79% -42.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -900.0K -$14.10M
YoY Change -128.13% 16.53%
NET CHANGE
Cash From Operating Activities 96.50M $87.60M
Cash From Investing Activities -24.90M -$24.00M
Cash From Financing Activities -900.0K -$14.10M
Net Change In Cash 70.70M $47.00M
YoY Change 193.36% -187.36%
FREE CASH FLOW
Cash From Operating Activities $96.50M $87.60M
Capital Expenditures $24.90M $22.10M
Free Cash Flow $71.60M $65.50M
YoY Change 176.45% -755.0%

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CY2024Q1 us-gaap Deferred Finance Costs Net
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CY2023Q4 us-gaap Deferred Finance Costs Net
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CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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49400000 usd
CY2024Q1 us-gaap Long Term Debt And Capital Lease Obligations
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CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2024Q1 us-gaap Finance Lease Liability Noncurrent
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CY2023Q4 us-gaap Finance Lease Liability Noncurrent
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CY2024Q1 us-gaap Other Investments
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CY2024Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q1 us-gaap Interest On Convertible Debt Net Of Tax
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CY2023Q1 us-gaap Interest On Convertible Debt Net Of Tax
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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false

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