2015 Q2 Form 10-Q Financial Statement

#000091727315000015 Filed on July 23, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $72.81M $76.52M
YoY Change -4.84% 32.11%
Cost Of Revenue $12.14M $10.64M
YoY Change 14.1% 44.43%
Gross Profit $60.68M $65.88M
YoY Change -7.9% 30.32%
Gross Profit Margin 83.33% 86.1%
Selling, General & Admin $17.34M $18.62M
YoY Change -6.87% 31.71%
% of Gross Profit 28.58% 28.26%
Research & Development $29.19M $27.67M
YoY Change 5.49% -10.1%
% of Gross Profit 48.11% 42.0%
Depreciation & Amortization $9.400M $10.30M
YoY Change -8.74% -5.5%
% of Gross Profit 15.49% 15.63%
Operating Expenses $46.53M $46.29M
YoY Change 0.52% 3.06%
Operating Profit $15.55M $20.10M
YoY Change -22.63% 250.0%
Interest Expense $3.091M $8.770M
YoY Change -64.75% 18.1%
% of Operating Profit 19.87% 43.62%
Other Income/Expense, Net -$2.888M -$8.666M
YoY Change -66.67% -2.02%
Pretax Income $12.67M $11.44M
YoY Change 10.74% -468.85%
Income Tax $5.805M $6.395M
% Of Pretax Income 45.83% 55.91%
Net Earnings $6.861M $5.043M
YoY Change 36.05% -164.29%
Net Earnings / Revenue 9.42% 6.59%
Basic Earnings Per Share $0.06 $0.04
Diluted Earnings Per Share $0.06 $0.04
COMMON SHARES
Basic Shares Outstanding 116.0M shares 114.1M shares
Diluted Shares Outstanding 120.9M shares 117.4M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $348.1M $246.4M
YoY Change 41.27% 19.84%
Cash & Equivalents $201.5M $99.57M
Short-Term Investments $146.6M $146.9M
Other Short-Term Assets $10.80M $8.400M
YoY Change 28.57% -11.58%
Inventory
Prepaid Expenses
Receivables $6.745M $12.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $365.7M $267.3M
YoY Change 36.81% 23.67%
LONG-TERM ASSETS
Property, Plant & Equipment $60.69M $67.41M
YoY Change -9.97% -11.1%
Goodwill $116.9M $116.9M
YoY Change 0.0% -6.46%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.345M $3.090M
YoY Change 8.25% 79.86%
Total Long-Term Assets $258.1M $290.4M
YoY Change -11.13% -16.24%
TOTAL ASSETS
Total Short-Term Assets $365.7M $267.3M
Total Long-Term Assets $258.1M $290.4M
Total Assets $623.8M $557.7M
YoY Change 11.85% -0.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.187M $5.465M
YoY Change -5.09% 3.11%
Accrued Expenses $11.90M $14.40M
YoY Change -17.36% -53.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $31.37M $30.19M
YoY Change 3.92% -84.75%
LONG-TERM LIABILITIES
Long-Term Debt $156.8M $151.5M
YoY Change 3.5% 281.61%
Other Long-Term Liabilities $8.139M $7.863M
YoY Change 3.51% 90.99%
Total Long-Term Liabilities $8.139M $7.863M
YoY Change 3.51% 90.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.37M $30.19M
Total Long-Term Liabilities $8.139M $7.863M
Total Liabilities $199.0M $191.4M
YoY Change 3.98% -22.92%
SHAREHOLDERS EQUITY
Retained Earnings -$745.2M -$774.9M
YoY Change -3.83% 0.34%
Common Stock $1.170B $1.142B
YoY Change 2.52% 5.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $424.7M $366.3M
YoY Change
Total Liabilities & Shareholders Equity $623.8M $557.7M
YoY Change 11.85% -0.92%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $6.861M $5.043M
YoY Change 36.05% -164.29%
Depreciation, Depletion And Amortization $9.400M $10.30M
YoY Change -8.74% -5.5%
Cash From Operating Activities $23.50M $10.00M
YoY Change 135.0% -199.01%
INVESTING ACTIVITIES
Capital Expenditures -$2.000M -$1.200M
YoY Change 66.67% -45.45%
Acquisitions
YoY Change
Other Investing Activities $600.0K -$87.70M
YoY Change -100.68% -1285.14%
Cash From Investing Activities -$1.400M -$88.80M
YoY Change -98.42% -1807.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.800M -168.1M
YoY Change -104.64% -5703.33%
NET CHANGE
Cash From Operating Activities 23.50M 10.00M
Cash From Investing Activities -1.400M -88.80M
Cash From Financing Activities 7.800M -168.1M
Net Change In Cash 29.90M -246.9M
YoY Change -112.11% 12894.74%
FREE CASH FLOW
Cash From Operating Activities $23.50M $10.00M
Capital Expenditures -$2.000M -$1.200M
Free Cash Flow $25.50M $11.20M
YoY Change 127.68% -241.77%

Facts In Submission

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744000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-3982000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
282000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2229000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2418000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-19630000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-3843000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1283000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2106000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
8770000 USD
us-gaap Interest Expense
InterestExpense
18696000 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
3091000 USD
us-gaap Interest Expense
InterestExpense
6174000 USD
CY2014Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
700000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1300000 USD
CY2015Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
600000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1300000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
196657000 USD
CY2015Q2 us-gaap Liabilities
Liabilities
199010000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
588279000 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
623755000 USD
CY2015Q2 us-gaap Liabilities Current
LiabilitiesCurrent
31369000 USD
CY2014Q2 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-59000 USD
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-51000 USD
CY2015Q2 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-26000 USD
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
27000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-239125000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
47351000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-166833000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
8845000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
34658000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-98746000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-334000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
26454000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
38840000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
5043000 USD
us-gaap Net Income Loss
NetIncomeLoss
12847000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
6861000 USD
us-gaap Net Income Loss
NetIncomeLoss
16363000 USD
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
166000 USD
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
677000 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-8666000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-18579000 USD
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2888000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-5839000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
20104000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
43293000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
15554000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
33446000 USD
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
8723000 USD
CY2015Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7774000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2612000 USD
CY2015Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3345000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5078000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8139000 USD
CY2014Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
104000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
117000 USD
CY2015Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
203000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
335000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
166070000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
97665000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4293000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3117000 USD
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8541000 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9690000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
5855000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
9053000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
51428000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
70396000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
17689000 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
26648000 USD
us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
2500000 USD
us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
3404000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
64023000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
60689000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
172500000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0 USD
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
27668000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
54566000 USD
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
29188000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
57722000 USD
CY2014Q2 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
39000 USD
CY2015Q2 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-761526000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-745164000 USD
CY2014Q2 us-gaap Royalty Revenue
RoyaltyRevenue
69741000 USD
us-gaap Royalty Revenue
RoyaltyRevenue
143378000 USD
CY2015Q2 us-gaap Royalty Revenue
RoyaltyRevenue
62387000 USD
us-gaap Royalty Revenue
RoyaltyRevenue
129350000 USD
CY2014Q2 us-gaap Sales Revenue Net
SalesRevenueNet
76518000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
154806000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
72812000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
145726000 USD
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18619000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37439000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17339000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
35841000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7754000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
19900000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
424745000 USD
CY2015Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
20000000.0 shares
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
391622000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
20600000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
2200000 USD
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3282000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2879000 shares
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
4912000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3542000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
117398000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116733000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
120939000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
119225000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114116000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
113854000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
116027000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
115683000 shares

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