$QRVO
Qorvo Inc

2018 Q2 Form 10-Q Financial Statement

#000160477818000071 Filed on August 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q3
Revenue $692.7M $821.6M
YoY Change 7.73% 17.61%
Cost Of Revenue $455.9M $500.6M
YoY Change 10.83% 18.6%
Gross Profit $236.7M $321.0M
YoY Change 2.22% 16.11%
Gross Profit Margin 34.18% 39.07%
Selling, General & Admin $135.9M $138.9M
YoY Change 2.43% -3.29%
% of Gross Profit 57.42% 43.26%
Research & Development $110.9M $111.4M
YoY Change -4.15% -4.9%
% of Gross Profit 46.85% 34.7%
Depreciation & Amortization $43.45M $42.83M
YoY Change -76.56% -7.6%
% of Gross Profit 18.35% 13.34%
Operating Expenses $255.9M $271.5M
YoY Change -0.02% 0.27%
Operating Profit -$19.22M $49.56M
YoY Change -21.26% 763.33%
Interest Expense $14.35M $14.78M
YoY Change 9.56% -2.69%
% of Operating Profit 29.82%
Other Income/Expense, Net -$31.96M -$192.0K
YoY Change -10751.67% -61.6%
Pretax Income -$62.13M $35.65M
YoY Change 66.57% -468.76%
Income Tax -$32.10M -$267.0K
% Of Pretax Income -0.75%
Net Earnings -$29.99M $35.92M
YoY Change -153.65% -732.93%
Net Earnings / Revenue -4.33% 4.37%
Basic Earnings Per Share -$0.24 $0.28
Diluted Earnings Per Share -$0.24 $0.27
COMMON SHARES
Basic Shares Outstanding 126.2M shares 127.3M shares
Diluted Shares Outstanding 126.2M shares 130.8M shares

Balance Sheet

Concept 2018 Q2 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $392.0M $512.6M
YoY Change -28.14% 14.7%
Cash & Equivalents $334.0M $574.9M
Short-Term Investments $58.00M
Other Short-Term Assets $34.55M $28.71M
YoY Change 31.55% -34.54%
Inventory $501.6M $461.0M
Prepaid Expenses $24.87M $33.38M
Receivables $360.9M $459.8M
Other Receivables $53.80M $41.80M
Total Short-Term Assets $1.368B $1.608B
YoY Change -6.42% 8.27%
LONG-TERM ASSETS
Property, Plant & Equipment $1.369B $1.443B
YoY Change -1.68% 24.33%
Goodwill $2.174B $2.174B
YoY Change 0.0% -0.03%
Intangibles $729.2M
YoY Change -47.94%
Long-Term Investments $79.50M $36.20M
YoY Change 123.94% 39.23%
Other Assets $63.40M $56.47M
YoY Change 7.79% -13.17%
Total Long-Term Assets $4.415B $4.870B
YoY Change -12.77% -6.39%
TOTAL ASSETS
Total Short-Term Assets $1.368B $1.608B
Total Long-Term Assets $4.415B $4.870B
Total Assets $5.782B $6.478B
YoY Change -11.35% -3.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $219.1M $212.8M
YoY Change 1.34% -19.25%
Accrued Expenses $133.6M $184.2M
YoY Change -21.68% 29.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $403.4M $423.0M
YoY Change -3.69% 0.63%
LONG-TERM LIABILITIES
Long-Term Debt $558.3M $989.4M
YoY Change -43.56% 0.1%
Other Long-Term Liabilities $105.4M $86.64M
YoY Change 22.44% 5.58%
Total Long-Term Liabilities $105.4M $86.64M
YoY Change 22.44% 5.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $403.4M $423.0M
Total Long-Term Liabilities $105.4M $86.64M
Total Liabilities $1.104B $1.574B
YoY Change -32.07% -4.89%
SHAREHOLDERS EQUITY
Retained Earnings -$484.3M -$413.2M
YoY Change 6.11% -7.25%
Common Stock $5.167B $5.322B
YoY Change -3.55% -2.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.678B $4.905B
YoY Change
Total Liabilities & Shareholders Equity $5.782B $6.478B
YoY Change -11.35% -3.14%

Cashflow Statement

Concept 2018 Q2 2017 Q3
OPERATING ACTIVITIES
Net Income -$29.99M $35.92M
YoY Change -153.65% -732.93%
Depreciation, Depletion And Amortization $43.45M $42.83M
YoY Change -76.56% -7.6%
Cash From Operating Activities $75.26M $103.6M
YoY Change -69.54% 74.5%
INVESTING ACTIVITIES
Capital Expenditures $43.56M $124.4M
YoY Change -126.29% -4.61%
Acquisitions $0.00 $0.00
YoY Change -100.0%
Other Investing Activities $8.667M -$7.036M
YoY Change -677.8% 41288.24%
Cash From Investing Activities -$110.0M -$117.4M
YoY Change -34.23% 56.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $100.0M $31.93M
YoY Change
Debt Paid & Issued, Net $458.2M $0.00
YoY Change
Cash From Financing Activities -$555.3M -$19.80M
YoY Change 1720.67% -185.53%
NET CHANGE
Cash From Operating Activities $75.26M $103.6M
Cash From Investing Activities -$110.0M -$117.4M
Cash From Financing Activities -$555.3M -$19.80M
Net Change In Cash -$592.0M -$32.81M
YoY Change -1298.42% -535.02%
FREE CASH FLOW
Cash From Operating Activities $75.26M $103.6M
Capital Expenditures $43.56M $124.4M
Free Cash Flow $31.70M -$20.79M
YoY Change -92.32% -70.74%

Facts In Submission

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CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
5000 USD
CY2018Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
60904000 USD
CY2018Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
50616000 USD
CY2018Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
118302000 USD
CY2018Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
105428000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-934000 USD
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-31955000 USD
CY2017Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-8276000 USD
CY2018Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-9115000 USD
CY2018Q1 us-gaap Other Receivables
OtherReceivables
44795000 USD
CY2018Q2 us-gaap Other Receivables
OtherReceivables
53799000 USD
CY2017Q3 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-7036000 USD
CY2018Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
8667000 USD
CY2017Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
31925000 USD
CY2018Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
100004000 USD
CY2017Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8404000 USD
CY2018Q2 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6802000 USD
CY2017Q3 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
0 USD
CY2018Q2 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
132729000 USD
CY2017Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
124428000 USD
CY2018Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
43564000 USD
CY2018Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2018Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.0001
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2018Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q1 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
23909000 USD
CY2018Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
24873000 USD
CY2017Q3 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
20526000 USD
CY2018Q2 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
9889000 USD
CY2017Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
19345000 USD
CY2018Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-214000 USD
CY2017Q3 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
0 USD
CY2018Q2 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
75000000 USD
CY2018Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1374112000 USD
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1368588000 USD
CY2017Q3 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2018Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
458172000 USD
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
116499000 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
110903000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-458769000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-484270000 USD
CY2017Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
37300000 USD
CY2017Q3 us-gaap Revenues
Revenues
640831000 USD
CY2018Q2 us-gaap Revenues
Revenues
692670000 USD
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
139431000 USD
CY2018Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
135930000 USD
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
21126000 USD
CY2018Q1 us-gaap Short Term Investments
ShortTermInvestments
0 USD
CY2018Q2 us-gaap Short Term Investments
ShortTermInvestments
58010000 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
4775564000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
4678105000 USD
CY2018Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
9674000 USD
CY2018Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5483000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
122800000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
125600000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126961000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126198000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126961000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126198000 shares

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exhibit10220180630.htm Edgar Link pending
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