2017 Q1 Form 10-Q Financial Statement

#000091727317000013 Filed on April 28, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1 2015 Q4
Revenue $97.35M $72.68M $76.77M
YoY Change 33.94% -0.32% 6.57%
Cost Of Revenue $14.48M $12.21M $11.30M
YoY Change 18.63% 13.49% 5.61%
Gross Profit $82.87M $60.48M $65.40M
YoY Change 37.03% -2.71% 6.69%
Gross Profit Margin 85.12% 83.2% 85.19%
Selling, General & Admin $28.19M $23.10M $16.90M
YoY Change 22.04% 24.82% -11.52%
% of Gross Profit 34.01% 38.19% 25.84%
Research & Development $36.00M $28.53M $25.60M
YoY Change 26.2% -0.02% -9.86%
% of Gross Profit 43.44% 47.17% 39.14%
Depreciation & Amortization $3.392M $2.969M $9.200M
YoY Change 14.25% -8.0% -3.16%
% of Gross Profit 4.09% 4.91% 14.07%
Operating Expenses $64.19M $51.62M $42.50M
YoY Change 24.34% 9.75% -10.9%
Operating Profit $13.43M $9.294M $20.33M
YoY Change 44.54% -48.05% 15.63%
Interest Expense $3.206M $3.141M -$2.800M
YoY Change 2.07% 1.88% -3.45%
% of Operating Profit 23.86% 33.8% -13.77%
Other Income/Expense, Net -$3.052M -$2.899M
YoY Change 5.28% -1.76%
Pretax Income $10.38M $6.395M $17.60M
YoY Change 62.35% -57.2% 19.73%
Income Tax $7.376M $4.517M $4.600M
% Of Pretax Income 71.05% 70.63% 26.14%
Net Earnings $3.006M $1.878M $12.99M
YoY Change 60.06% -80.24% 65.69%
Net Earnings / Revenue 3.09% 2.58% 16.92%
Basic Earnings Per Share $0.03 $0.02
Diluted Earnings Per Share $0.03 $0.02 $115.1K
COMMON SHARES
Basic Shares Outstanding 111.5M shares 109.7M shares 111.5M shares
Diluted Shares Outstanding 115.3M shares 112.3M shares 113.4M shares

Balance Sheet

Concept 2017 Q1 2016 Q1 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $187.6M $225.6M $287.7M
YoY Change -16.84% -29.01% -4.13%
Cash & Equivalents $177.5M $136.6M $143.8M
Short-Term Investments $10.20M $88.90M $143.9M
Other Short-Term Assets $12.70M $13.00M $11.50M
YoY Change -2.31% 16.07% 32.18%
Inventory $5.840M $1.080M
Prepaid Expenses
Receivables $27.35M $14.62M $16.41M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $233.5M $253.2M $315.6M
YoY Change -7.78% -24.54% 0.24%
LONG-TERM ASSETS
Property, Plant & Equipment $56.47M $56.40M $56.62M
YoY Change 0.12% -8.4% -11.57%
Goodwill $206.1M $163.8M $116.9M
YoY Change 25.81% 40.13% 0.0%
Intangibles $121.4M $64.27M
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.733M $4.622M $2.165M
YoY Change -40.87% 98.11% -17.11%
Total Long-Term Assets $592.7M $499.6M $402.4M
YoY Change 18.63% 89.03% 47.17%
TOTAL ASSETS
Total Short-Term Assets $233.5M $253.2M $315.6M
Total Long-Term Assets $592.7M $499.6M $402.4M
Total Assets $826.2M $752.8M $718.0M
YoY Change 9.75% 25.5% 22.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.437M $4.874M $4.096M
YoY Change 73.1% -14.45% -41.17%
Accrued Expenses $10.60M $8.400M $12.30M
YoY Change 26.19% -20.0% -16.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.12M $40.12M $28.37M
YoY Change 9.99% 43.12% -18.15%
LONG-TERM LIABILITIES
Long-Term Debt $165.8M $159.6M $158.0M
YoY Change 3.88% 2.64% 2.46%
Other Long-Term Liabilities $14.75M $637.0K $5.079M
YoY Change 2216.17% -91.65% 0.02%
Total Long-Term Liabilities $14.75M $637.0K $5.079M
YoY Change 2216.17% -91.65% 0.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.12M $40.12M $28.37M
Total Long-Term Liabilities $14.75M $637.0K $5.079M
Total Liabilities $224.7M $218.1M $191.5M
YoY Change 3.0% 12.47% -2.63%
SHAREHOLDERS EQUITY
Retained Earnings -$573.8M -$602.4M -$604.3M
YoY Change -4.75% -19.89% -20.64%
Common Stock $1.188B $1.138B $1.130B
YoY Change 4.4% -1.79% -2.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $601.6M $534.7M $526.5M
YoY Change
Total Liabilities & Shareholders Equity $826.2M $752.8M $718.0M
YoY Change 9.75% 25.5% 22.05%

Cashflow Statement

Concept 2017 Q1 2016 Q1 2015 Q4
OPERATING ACTIVITIES
Net Income $3.006M $1.878M $12.99M
YoY Change 60.06% -80.24% 65.69%
Depreciation, Depletion And Amortization $3.392M $2.969M $9.200M
YoY Change 14.25% -8.0% -3.16%
Cash From Operating Activities $17.20M $17.80M $22.70M
YoY Change -3.37% 19.46% -13.03%
INVESTING ACTIVITIES
Capital Expenditures $1.918M $1.599M -$1.400M
YoY Change 19.95% 46.03% -12.5%
Acquisitions $0.00 $80.52M
YoY Change -100.0%
Other Investing Activities $27.10M -$25.90M $4.000M
YoY Change -204.63% -1277.27% 48.15%
Cash From Investing Activities $25.10M -$27.50M $2.700M
YoY Change -191.27% -2600.0% 145.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -500.0K 2.700M -98.20M
YoY Change -118.52% 80.0% -7114.29%
NET CHANGE
Cash From Operating Activities 17.20M 17.80M 22.70M
Cash From Investing Activities 25.10M -27.50M 2.700M
Cash From Financing Activities -500.0K 2.700M -98.20M
Net Change In Cash 41.80M -7.000M -72.80M
YoY Change -697.14% -140.0% -354.55%
FREE CASH FLOW
Cash From Operating Activities $17.20M $17.80M $22.70M
Capital Expenditures $1.918M $1.599M -$1.400M
Free Cash Flow $15.28M $16.20M $24.10M
YoY Change -5.67% 17.36% -13.0%

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CY2016Q1 us-gaap Increase Decrease In Inventories
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838000 USD
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208000 USD
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1560000 USD
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CY2017Q1 us-gaap Lease And Rental Expense
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CY2017Q1 us-gaap Liabilities
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CY2016Q1 us-gaap Liabilities Assumed1
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CY2017Q1 us-gaap Liabilities Assumed1
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0 USD
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CY2017Q1 us-gaap Liabilities Current
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CY2017Q1 us-gaap Marketable Securities Unrealized Gain Loss
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240000 USD
CY2016Q1 us-gaap Net Cash Provided By Used In Continuing Operations
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CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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38200000 USD
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830000 USD
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152000 USD
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CY2016Q4 us-gaap Other Assets Noncurrent
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CY2017Q1 us-gaap Other Assets Noncurrent
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999000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
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CY2017Q1 us-gaap Other Liabilities Noncurrent
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CY2016Q1 us-gaap Other Nonoperating Income
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242000 USD
CY2017Q1 us-gaap Other Nonoperating Income
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154000 USD
CY2016Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2017Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2016Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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80523000 USD
CY2017Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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0 USD
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
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1599000 USD
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
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1918000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2016Q4 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Authorized
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5000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2016Q4 us-gaap Preferred Stock Value
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0 USD
CY2017Q1 us-gaap Preferred Stock Value
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0 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
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17867000 USD
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3799000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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2247000 USD
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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54585000 USD
CY2017Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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27048000 USD
CY2016Q1 us-gaap Proceeds From Sale Of Intangible Assets
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0 USD
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ProceedsFromSaleOfIntangibleAssets
17000 USD
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58442000 USD
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56468000 USD
CY2016Q1 us-gaap Research And Development Expense
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28527000 USD
CY2017Q1 us-gaap Research And Development Expense
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36000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-573802000 USD
CY2016Q1 us-gaap Royalty Revenue
RoyaltyRevenue
62877000 USD
CY2017Q1 us-gaap Royalty Revenue
RoyaltyRevenue
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CY2016Q1 us-gaap Sales Revenue Net
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72682000 USD
CY2017Q1 us-gaap Sales Revenue Net
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97351000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
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23095000 USD
CY2017Q1 us-gaap Selling General And Administrative Expense
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28186000 USD
CY2016Q1 us-gaap Share Based Compensation
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4864000 USD
CY2017Q1 us-gaap Share Based Compensation
ShareBasedCompensation
6596000 USD
CY2017Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
CY2015Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
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20000000.0 shares
CY2017Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
11500000 shares
CY2015Q4 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
7812000 shares
CY2016Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
700000 shares
CY2015Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
80000000 USD
CY2016Q4 us-gaap Stockholders Equity
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552782000 USD
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
601557000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
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21900000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits
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23100000 USD
CY2017Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
2400000 USD
CY2016Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2519000 shares
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
3861000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112252000 shares
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
115325000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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109733000 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111464000 shares

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