2018 Q1 Form 10-Q Financial Statement

#000087616718000027 Filed on April 06, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $94.05M $90.97M
YoY Change 3.38% 1.66%
Cost Of Revenue $16.90M $15.76M
YoY Change 7.27% 0.05%
Gross Profit $78.51M $75.21M
YoY Change 4.38% 2.01%
Gross Profit Margin 83.48% 82.68%
Selling, General & Admin $32.69M $36.29M
YoY Change -9.92% -13.68%
% of Gross Profit 41.64% 48.25%
Research & Development $20.25M $17.33M
YoY Change 16.79% -20.48%
% of Gross Profit 25.79% 23.05%
Depreciation & Amortization $1.682M $1.978M
YoY Change -14.96% -11.3%
% of Gross Profit 2.14% 2.63%
Operating Expenses $59.38M $73.99M
YoY Change -19.75% 10.39%
Operating Profit $19.13M $1.222M
YoY Change 1465.55% -81.77%
Interest Expense $1.165M $1.082M
YoY Change 7.67% 2.37%
% of Operating Profit 6.09% 88.54%
Other Income/Expense, Net -$1.585M -$1.347M
YoY Change 17.67% -26.19%
Pretax Income $17.55M -$125.0K
YoY Change -14136.8% -102.56%
Income Tax $3.814M $400.0K
% Of Pretax Income 21.74%
Net Earnings $13.73M -$525.0K
YoY Change -2715.62% -116.32%
Net Earnings / Revenue 14.6% -0.58%
Basic Earnings Per Share $0.30 -$0.01
Diluted Earnings Per Share $0.29 -$0.01
COMMON SHARES
Basic Shares Outstanding 46.53M shares 48.73M shares
Diluted Shares Outstanding 47.48M shares 48.73M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.5M $264.2M
YoY Change -36.6% 5.05%
Cash & Equivalents $117.1M $117.1M
Short-Term Investments $50.40M $37.30M
Other Short-Term Assets $16.31M $23.84M
YoY Change -31.58% 15.87%
Inventory
Prepaid Expenses
Receivables $53.84M $48.91M
Other Receivables $0.00 $0.00
Total Short-Term Assets $237.7M $336.9M
YoY Change -29.47% 1.83%
LONG-TERM ASSETS
Property, Plant & Equipment $41.76M $48.26M
YoY Change -13.46% -9.78%
Goodwill $315.1M $278.1M
YoY Change 13.29% -24.82%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.916M $2.325M
YoY Change -17.59% -40.29%
Total Long-Term Assets $445.5M $404.2M
YoY Change 10.22% -25.97%
TOTAL ASSETS
Total Short-Term Assets $237.7M $336.9M
Total Long-Term Assets $445.5M $404.2M
Total Assets $683.1M $741.1M
YoY Change -7.82% -15.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.913M $9.491M
YoY Change -6.09% -20.36%
Accrued Expenses $36.20M $52.70M
YoY Change -31.31% 22.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.819M $14.64M
YoY Change -60.26% 56.19%
Total Short-Term Liabilities $203.0M $221.2M
YoY Change -8.2% 8.73%
LONG-TERM LIABILITIES
Long-Term Debt $114.6M $115.6M
YoY Change -0.86% -11.9%
Other Long-Term Liabilities $6.003M $5.097M
YoY Change 17.78% 37.2%
Total Long-Term Liabilities $120.6M $120.7M
YoY Change -0.07% -10.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $203.0M $221.2M
Total Long-Term Liabilities $120.6M $120.7M
Total Liabilities $323.7M $341.9M
YoY Change -5.33% 1.04%
SHAREHOLDERS EQUITY
Retained Earnings $107.8M $173.7M
YoY Change -37.94% -45.05%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $383.7M $386.2M
YoY Change
Total Liabilities & Shareholders Equity $683.1M $741.1M
YoY Change -7.82% -15.48%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $13.73M -$525.0K
YoY Change -2715.62% -116.32%
Depreciation, Depletion And Amortization $1.682M $1.978M
YoY Change -14.96% -11.3%
Cash From Operating Activities $31.60M $37.30M
YoY Change -15.29% 65.76%
INVESTING ACTIVITIES
Capital Expenditures $1.386M $383.0K
YoY Change 261.88% -72.91%
Acquisitions
YoY Change
Other Investing Activities -$600.0K $5.300M
YoY Change -111.32% -127.75%
Cash From Investing Activities -$1.944M $4.918M
YoY Change -139.53% -124.01%
FINANCING ACTIVITIES
Cash Dividend Paid $6.619M $6.072M
YoY Change 9.01%
Common Stock Issuance & Retirement, Net $45.00M $15.19M
YoY Change 196.25% 68.01%
Debt Paid & Issued, Net $1.547M $3.750M
YoY Change -58.75% 0.0%
Cash From Financing Activities -$50.70M -$23.37M
YoY Change 116.98% 146.8%
NET CHANGE
Cash From Operating Activities $31.60M $37.30M
Cash From Investing Activities -$1.944M $4.918M
Cash From Financing Activities -$50.70M -$23.37M
Net Change In Cash -$21.05M $18.85M
YoY Change -211.63% -352.99%
FREE CASH FLOW
Cash From Operating Activities $31.60M $37.30M
Capital Expenditures $1.386M $383.0K
Free Cash Flow $30.21M $36.92M
YoY Change -18.17% 75.06%

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CY2018Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
5819000 USD
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
89719000 USD
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
12375000 USD
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
9281000 USD
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6188000 USD
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
4640000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
116090000 USD
CY2018Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
114635000 USD
CY2017Q1 us-gaap Maintenance Revenue
MaintenanceRevenue
59138000 USD
CY2018Q1 us-gaap Maintenance Revenue
MaintenanceRevenue
61479000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23365000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50697000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4918000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1944000 USD
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
37300000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31595000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-525000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
12912000 USD
CY2017Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1347000 USD
CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1585000 USD
CY2018Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2017Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
27675000 USD
CY2018Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
24189000 USD
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
73990000 USD
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
59376000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
1222000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
17768000 USD
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
20496000 USD
CY2018Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18797000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
18588000 USD
CY2018Q1 us-gaap Other Assets Current
OtherAssetsCurrent
16312000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1992000 USD
CY2018Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1916000 USD
CY2017Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1228000 USD
CY2018Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
3831000 USD
CY2017Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1299000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3804000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
71000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-27000 USD
CY2017Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
40000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
39000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5967000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
6003000 USD
CY2017Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
221000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
408000 USD
CY2017Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15190000 USD
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
45000000 USD
CY2018Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
2739000 USD
CY2017Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
6072000 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
6619000 USD
CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1306000 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2017Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
854000 USD
CY2018Q1 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
7374000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
383000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1386000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
2121000 USD
CY2018Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
307000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2770000 USD
CY2018Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2469000 USD
CY2017Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
6155000 USD
CY2018Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
6816000 USD
CY2017Q1 us-gaap Professional Fees
ProfessionalFees
0 USD
CY2018Q1 us-gaap Professional Fees
ProfessionalFees
1258000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42261000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
41761000 USD
CY2017Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
40000 USD
CY2018Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
137000 USD
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3750000 USD
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1547000 USD
CY2017Q1 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
17334000 USD
CY2018Q1 us-gaap Research And Development Expense Software Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost
20245000 USD
CY2017Q1 us-gaap Restructuring Charges
RestructuringCharges
17139000 USD
CY2018Q1 us-gaap Restructuring Charges
RestructuringCharges
1821000 USD
CY2018Q1 us-gaap Restructuring Charges
RestructuringCharges
1800000 USD
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
4126000 USD
CY2018Q1 us-gaap Restructuring Reserve
RestructuringReserve
3281000 USD
CY2018Q1 us-gaap Restructuring Reserve Translation Adjustment
RestructuringReserveTranslationAdjustment
73000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
145247000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
107800000 USD
CY2017Q1 us-gaap Revenues
Revenues
90970000 USD
CY2018Q1 us-gaap Revenues
Revenues
94047000 USD
CY2017Q1 us-gaap Sales Revenue Net
SalesRevenueNet
90970000 USD
CY2018Q1 us-gaap Sales Revenue Net
SalesRevenueNet
94047000 USD
CY2017Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
66648000 USD
CY2018Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
68704000 USD
CY2017Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
25721000 USD
CY2018Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21428000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1630000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4570000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
9393000 USD
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
43000 USD
CY2017Q4 us-gaap Short Term Investments
ShortTermInvestments
50145000 USD
CY2018Q1 us-gaap Short Term Investments
ShortTermInvestments
50386000 USD
CY2017Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
250000000.0 USD
CY2018Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
175000000 USD
CY2017Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
600000 shares
CY2018Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1100000 shares
CY2017Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
18100000 USD
CY2018Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
45000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
376084000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
347652000 USD
CY2017Q1 us-gaap Technology Services Revenue
TechnologyServicesRevenue
7510000 USD
CY2018Q1 us-gaap Technology Services Revenue
TechnologyServicesRevenue
7225000 USD
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
947000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48733000 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47476000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48733000 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46529000 shares

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