$QRVO
Qorvo Inc

2017 Q3 Form 10-Q Financial Statement

#000160477817000058 Filed on November 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q3
Revenue $821.6M
YoY Change 17.61%
Cost Of Revenue $500.6M
YoY Change 18.6%
Gross Profit $321.0M
YoY Change 16.11%
Gross Profit Margin 39.07%
Selling, General & Admin $138.9M
YoY Change -3.29%
% of Gross Profit 43.26%
Research & Development $111.4M
YoY Change -4.9%
% of Gross Profit 34.7%
Depreciation & Amortization $42.83M
YoY Change -7.6%
% of Gross Profit 13.34%
Operating Expenses $271.5M
YoY Change 0.27%
Operating Profit $49.56M
YoY Change 763.33%
Interest Expense $14.78M
YoY Change -2.69%
% of Operating Profit 29.82%
Other Income/Expense, Net -$192.0K
YoY Change -61.6%
Pretax Income $35.65M
YoY Change -468.76%
Income Tax -$267.0K
% Of Pretax Income -0.75%
Net Earnings $35.92M
YoY Change -732.93%
Net Earnings / Revenue 4.37%
Basic Earnings Per Share $0.28
Diluted Earnings Per Share $0.27
COMMON SHARES
Basic Shares Outstanding 127.3M shares
Diluted Shares Outstanding 130.8M shares

Balance Sheet

Concept 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $512.6M
YoY Change 14.7%
Cash & Equivalents $574.9M
Short-Term Investments
Other Short-Term Assets $28.71M
YoY Change -34.54%
Inventory $461.0M
Prepaid Expenses $33.38M
Receivables $459.8M
Other Receivables $41.80M
Total Short-Term Assets $1.608B
YoY Change 8.27%
LONG-TERM ASSETS
Property, Plant & Equipment $1.443B
YoY Change 24.33%
Goodwill $2.174B
YoY Change -0.03%
Intangibles
YoY Change
Long-Term Investments $36.20M
YoY Change 39.23%
Other Assets $56.47M
YoY Change -13.17%
Total Long-Term Assets $4.870B
YoY Change -6.39%
TOTAL ASSETS
Total Short-Term Assets $1.608B
Total Long-Term Assets $4.870B
Total Assets $6.478B
YoY Change -3.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $212.8M
YoY Change -19.25%
Accrued Expenses $184.2M
YoY Change 29.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $423.0M
YoY Change 0.63%
LONG-TERM LIABILITIES
Long-Term Debt $989.4M
YoY Change 0.1%
Other Long-Term Liabilities $86.64M
YoY Change 5.58%
Total Long-Term Liabilities $86.64M
YoY Change 5.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $423.0M
Total Long-Term Liabilities $86.64M
Total Liabilities $1.574B
YoY Change -4.89%
SHAREHOLDERS EQUITY
Retained Earnings -$413.2M
YoY Change -7.25%
Common Stock $5.322B
YoY Change -2.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.905B
YoY Change
Total Liabilities & Shareholders Equity $6.478B
YoY Change -3.14%

Cashflow Statement

Concept 2017 Q3
OPERATING ACTIVITIES
Net Income $35.92M
YoY Change -732.93%
Depreciation, Depletion And Amortization $42.83M
YoY Change -7.6%
Cash From Operating Activities $103.6M
YoY Change 74.5%
INVESTING ACTIVITIES
Capital Expenditures $124.4M
YoY Change -4.61%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$7.036M
YoY Change 41288.24%
Cash From Investing Activities -$117.4M
YoY Change 56.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $31.93M
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change
Cash From Financing Activities -$19.80M
YoY Change -185.53%
NET CHANGE
Cash From Operating Activities $103.6M
Cash From Investing Activities -$117.4M
Cash From Financing Activities -$19.80M
Net Change In Cash -$32.81M
YoY Change -535.02%
FREE CASH FLOW
Cash From Operating Activities $103.6M
Capital Expenditures $124.4M
Free Cash Flow -$20.79M
YoY Change -70.74%

Facts In Submission

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58815000 USD
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
56470000 USD
CY2016Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
0 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
0 USD
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-581000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-581000 USD
CY2016Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
353000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
-758000 USD
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
106000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
722000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
411000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-597000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-392000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
327000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-57000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-88000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-45000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
-87000 USD
CY2016Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
1000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
73000 USD
CY2017Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
38000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
99000 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
31998000 USD
CY2017Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
26067000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
86108000 USD
CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
86642000 USD
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-311000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-811000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-192000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1126000 USD
CY2016Q4 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-6745000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-16747000 USD
CY2017Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-21193000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-29469000 USD
CY2017Q2 us-gaap Other Receivables
OtherReceivables
65247000 USD
CY2017Q3 us-gaap Other Receivables
OtherReceivables
50476000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
5179000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
23028000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
91400000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
88925000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
14763000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
24005000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
118020000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
250419000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
192219000 USD
CY2017Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2017Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
36229000 USD
CY2017Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
33381000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
27077000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
32867000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
186793000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
0 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1391932000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1443392000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
126078000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
243215000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
111398000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
227897000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-456366000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-413186000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
864698000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1563235000 USD
CY2017Q3 us-gaap Sales Revenue Net
SalesRevenueNet
821583000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1462414000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
138583000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
282178000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
138867000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
278298000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
56636000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
44584000 USD
CY2016Q4 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1600000 shares
CY2017Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
800000 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1200000 shares
CY2016Q4 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
91400000 USD
CY2017Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
57000000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
88900000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
4896722000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
4904576000 USD
CY2017Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
90600000 USD
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
98900000 USD
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
8300000 USD
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
132329000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
132461000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130778000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131062000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127546000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127543000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127257000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127109000 shares

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