$PRLB
Proto Labs Inc

2015 Q4 Form 10-K Financial Statement

#000143774917002947 Filed on February 22, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4 2014
Revenue $73.80M $56.10M $209.6M
YoY Change 31.55% 27.5% 28.49%
Cost Of Revenue $32.50M $22.50M $81.18M
YoY Change 44.44% 37.2% 32.2%
Gross Profit $41.30M $33.60M $128.4M
YoY Change 22.92% 21.74% 26.25%
Gross Profit Margin 55.96% 59.89% 61.26%
Selling, General & Admin $19.80M $14.30M $51.27M
YoY Change 38.46% 38.83% 33.02%
% of Gross Profit 47.94% 42.56% 39.93%
Research & Development $4.900M $4.700M $16.61M
YoY Change 4.26% 34.29% 39.99%
% of Gross Profit 11.86% 13.99% 12.93%
Depreciation & Amortization $3.700M $3.400M $11.14M
YoY Change 8.82% 61.9% 47.15%
% of Gross Profit 8.96% 10.12% 8.67%
Operating Expenses $24.70M $18.90M $67.87M
YoY Change 30.69% 36.96% 34.66%
Operating Profit $16.60M $14.70M $60.53M
YoY Change 12.93% 6.52% 17.99%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $600.0K $0.00 $3.000K
YoY Change -100.0% -98.92%
Pretax Income $17.20M $14.70M $60.53M
YoY Change 17.01% 5.0% 17.36%
Income Tax $5.200M $4.500M $18.90M
% Of Pretax Income 30.23% 30.61% 31.22%
Net Earnings $12.00M $10.20M $41.64M
YoY Change 17.65% 7.37% 18.02%
Net Earnings / Revenue 16.26% 18.18% 19.87%
Basic Earnings Per Share $1.62
Diluted Earnings Per Share $454.5K $389.3K $1.60
COMMON SHARES
Basic Shares Outstanding 25.69M
Diluted Shares Outstanding 26.10M

Balance Sheet

Concept 2015 Q4 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.90M $74.00M $74.00M
YoY Change 9.32% -6.8% -6.8%
Cash & Equivalents $47.65M $43.33M $43.30M
Short-Term Investments $33.20M $30.70M $30.70M
Other Short-Term Assets $5.200M $3.400M $3.400M
YoY Change 52.94% -17.07% -17.07%
Inventory $9.771M $6.194M $6.200M
Prepaid Expenses
Receivables $36.13M $24.23M $24.20M
Other Receivables $6.100M $0.00 $0.00
Total Short-Term Assets $138.0M $107.9M $107.9M
YoY Change 27.94% -1.77% -1.73%
LONG-TERM ASSETS
Property, Plant & Equipment $125.5M $91.63M $91.60M
YoY Change 36.94% 63.33% 63.28%
Goodwill $28.92M $28.92M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $64.80M $54.30M $54.30M
YoY Change 19.34% -15.16% -15.16%
Other Assets $517.0K $227.0K $200.0K
YoY Change 127.75% -24.33% -33.33%
Total Long-Term Assets $223.0M $179.2M $179.1M
YoY Change 24.48% 48.81% 48.75%
TOTAL ASSETS
Total Short-Term Assets $138.0M $107.9M $107.9M
Total Long-Term Assets $223.0M $179.2M $179.1M
Total Assets $361.0M $287.0M $287.0M
YoY Change 25.78% 24.69% 24.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.64M $7.882M $7.900M
YoY Change 73.09% 21.26% 21.54%
Accrued Expenses $12.60M $8.800M $8.800M
YoY Change 43.18% 25.71% 25.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $100.0K $100.0K
YoY Change -100.0% -50.0% -50.0%
Total Short-Term Liabilities $26.26M $18.76M $18.80M
YoY Change 40.0% 36.93% 37.23%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $2.889M $1.360M $1.400M
YoY Change 112.43% 36.0% 40.0%
Total Long-Term Liabilities $2.889M $1.360M $1.400M
YoY Change 112.43% 13.33% 16.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.26M $18.76M $18.80M
Total Long-Term Liabilities $2.889M $1.360M $1.400M
Total Liabilities $33.39M $21.49M $21.50M
YoY Change 55.36% 16.17% 16.22%
SHAREHOLDERS EQUITY
Retained Earnings $134.0M $87.48M
YoY Change 53.17%
Common Stock $198.9M $181.0M
YoY Change 9.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $327.6M $265.5M $265.5M
YoY Change
Total Liabilities & Shareholders Equity $361.0M $287.0M $287.0M
YoY Change 25.78% 24.69% 24.67%

Cashflow Statement

Concept 2015 Q4 2014 Q4 2014
OPERATING ACTIVITIES
Net Income $12.00M $10.20M $41.64M
YoY Change 17.65% 7.37% 18.02%
Depreciation, Depletion And Amortization $3.700M $3.400M $11.14M
YoY Change 8.82% 61.9% 47.15%
Cash From Operating Activities $22.80M $17.20M $57.20M
YoY Change 32.56% 27.41% 18.18%
INVESTING ACTIVITIES
Capital Expenditures -$17.10M -$7.600M $43.51M
YoY Change 125.0% 31.03% 132.0%
Acquisitions $33.86M
YoY Change
Other Investing Activities -$17.40M -$700.0K -$20.00M
YoY Change 2385.71% -90.91% -49.62%
Cash From Investing Activities -$34.60M -$8.300M -$63.50M
YoY Change 316.87% -38.52% 8.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.054M
YoY Change 308.53%
Cash From Financing Activities -4.200M 500.0K 7.000M
YoY Change -940.0% -85.71% -56.52%
NET CHANGE
Cash From Operating Activities 22.80M 17.20M 57.20M
Cash From Investing Activities -34.60M -8.300M -63.50M
Cash From Financing Activities -4.200M 500.0K 7.000M
Net Change In Cash -16.00M 9.400M 700.0K
YoY Change -270.21% 168.57% -88.33%
FREE CASH FLOW
Cash From Operating Activities $22.80M $17.20M $57.20M
Capital Expenditures -$17.10M -$7.600M $43.51M
Free Cash Flow $39.90M $24.80M $13.69M
YoY Change 60.89% 28.5% -53.81%

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EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
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500000
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374000
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1992000
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-217000
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5781000
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1435000
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9373000
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2097000
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850000
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5691000
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-259000
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1312000
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2047000
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199466
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314426
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407621
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3404000
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39477000
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64789000
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">&#x2014; </div></div><div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Nature of Business</div></div></div> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Organization and business</div></div></div> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> <div style=" margin: 0pt; text-align: left; text-indent: 22.5pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">Proto Labs, Inc. and its subsidiaries (Proto Labs, the Company, we, us, or our) is an <div style="display: inline; font-family: Times New Roman, Times, serif; font-size: 10pt;">e-commerce driven digital manufacturer of quick-turn, on-demand <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3D</div> printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company&#x2019;s customers are product developers and engineers throughout the world who require a faster and less expensive way to obtain low volumes of parts. The Company&#x2019;s proprietary technology eliminates most of the time-consuming and expensive skilled labor conventionally required to quote and manufacture parts in low volumes, and its customers conduct nearly all of their business with the Company over the Internet. The Company targets its product lines to the millions of product developers and engineers who use <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div>-dimensional <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3D)</div>&nbsp;computer-aided design (CAD) software to design products across a diverse range of end-markets. The Company has established operations in the United States, Europe and Japan, which the Company believes are among the largest geographic markets where these product developers and engineers are located. The Company&#x2019;s primary manufacturing product lines currently include Injection Molding, CNC Machining and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3D</div> Printing. Proto Labs, Inc. is located in Maple Plain, Minnesota. The Company&#x2019;s subsidiaries are:</div></div> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table border="0" cellpadding="0" cellspacing="0" style="margin: 0pt 17.5%; text-indent: 0px; font-size: 10pt;"> <tr> <td style="width: 4%; vertical-align: middle; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> </td> <td style="width: 48.2%; vertical-align: middle; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Name</div></div> </td> <td style="width: 13.4%; vertical-align: middle; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> </td> <td style="width: 2.3%; vertical-align: middle; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> </td> <td colspan="3" style="width: 32%; vertical-align: middle; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;">Location</div></div> </td> </tr> <tr> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;">&nbsp;</td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: none;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">PL-US International LLC</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">United States</div> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Proto Labs Ltd.</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">United Kingdom</div> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">PL Euro Services Ltd.</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">United Kingdom</div> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">PL International UK LLP</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">United Kingdom</div> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">PL International Holding UK Ltd.</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">United Kingdom</div> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">PLJ Ltd.</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">United Kingdom</div> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Proto Labs Distribution Ltd.</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">United Kingdom</div> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">PL DE Holding GmbH</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Germany</div> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Proto Labs GmbH</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Germany</div> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Proto Labs Eschenlohe GmbH</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Germany</div> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">PL Finland Oy</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Finland</div> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Proto Labs&nbsp;AB</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Sweden</div> </td> </tr> <tr style="background-color: rgb(204, 238, 255);"> <td style="width: 4%; vertical-align: middle;">&nbsp;</td> <td style="width: 48.2%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Proto Labs, G.K.</div> </td> <td style="width: 13.4%; vertical-align: middle;">&nbsp;</td> <td style="width: 2.3%; vertical-align: middle;">&nbsp;</td> <td colspan="3" style="width: 32%; vertical-align: middle;"> <div style=" margin: 0pt; text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Japan</div> </td> </tr> <tr style="background-color: rgb(255, 255, 255);"> <td style="width: 4%; vertical-align: middle; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> </td> <td style="width: 48.2%; vertical-align: middle; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> </td> <td style="width: 13.4%; vertical-align: middle; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> </td> <td style="width: 2.3%; vertical-align: middle; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> </td> <td style="width: 15%; vertical-align: middle; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> </td> <td style="width: 2.6%; vertical-align: middle; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> </td> <td style="width: 14.4%; vertical-align: middle; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;"> <div style=" margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</div> </td> </tr> </table></div>
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NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
7847000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
10238000
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
7036000
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-60755000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-63594000
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-63499000
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
74967000
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
58557000
CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
57210000
CY2016 us-gaap Net Income Loss
NetIncomeLoss
42707000
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NetIncomeLoss
46514000
CY2014 us-gaap Net Income Loss
NetIncomeLoss
41635000
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PaymentsToAcquirePropertyPlantAndEquipment
33616000
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
44362000
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
43507000
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OperatingExpenses
105170000
CY2015 us-gaap Operating Expenses
OperatingExpenses
87254000
CY2014 us-gaap Operating Expenses
OperatingExpenses
67873000
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OperatingIncomeLoss
61767000
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
67149000
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
60528000
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OperatingLeasesFutureMinimumPaymentsDue
13851000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
3531000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1623000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1644000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1960000
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2945000
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2148000
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OperatingLeasesRentExpenseNet
3600000
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OperatingLeasesRentExpenseNet
1400000
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OperatingLeasesRentExpenseNet
1000000
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OperatingLossCarryforwards
13400000
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933000
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517000
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OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-5541000
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OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-2283000
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OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1838000
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-5541000
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2283000
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1838000
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-5541000
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2283000
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OtherComprehensiveIncomeLossNetOfTax
-1838000
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OtherIntangibleAssetsNet
2655000
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3337000
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OtherLiabilitiesNoncurrent
3978000
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OtherLiabilitiesNoncurrent
2889000
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OtherNoncashIncomeExpense
1541000
CY2015 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
CY2014 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2454000
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OtherNonoperatingIncomeExpense
712000
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OtherNonoperatingIncomeExpense
3000
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PaymentsOfMergerRelatedCostsFinancingActivities
400000
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PaymentsOfMergerRelatedCostsFinancingActivities
1400000
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PaymentsToAcquireBusinessesNetOfCashAcquired
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5032000
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0.001
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PreferredStockParOrStatedValuePerShare
0.001
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10000000
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PreferredStockSharesAuthorized
10000000
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PreferredStockSharesIssued
0
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PreferredStockSharesIssued
0
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PreferredStockSharesOutstanding
0
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PreferredStockSharesOutstanding
0
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
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5697000
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5224000
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5715000
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6251000
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4820000
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62176000
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52193000
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172192000
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125475000
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91626000
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18600000
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0
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RepaymentsOfLongTermDebt
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152000
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0
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0
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1054000
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22388000
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18350000
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16607000
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176703000
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133996000
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298055000
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264106000
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209583000
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46131000
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39188000
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29144000
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6775000
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6082000
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4809000
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P6Y
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P5Y
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0.15
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0
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1285314
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320973
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34.65
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6769
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26519
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87719
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116050
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110335
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7400000
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1143250
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998987
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766042
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19.03
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26.49
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36.52
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45
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13.77
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14.36
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16.65
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26.23
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51.72
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61.41
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72.17
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
67.36
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
57.99
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SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2016Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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6800000
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y219D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3600000
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2800000
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3200000
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
0.85
CY2014 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
253544
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
316761
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
226164
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4820000
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
6254000
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5715000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
379833000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
327645000
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
211643000
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
265539000
CY2016Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
26600000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3796000
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2769000
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1295000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1077000
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
919000
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
170000
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
555000
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
220000
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Accounting estimates</div></div></div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt">&nbsp;</div> <div style=" FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-ALIGN: left; MARGIN: 0pt; TEXT-INDENT: 22.5pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div></div></div></div></div></div></div></div></div>
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26564639
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26320284
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26100320
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26365173
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26005858
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25692699

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