2010 Q4 Form 10-K Financial Statement

#000104746912002544 Filed on March 13, 2012

View on sec.gov

Income Statement

Concept 2010 Q4 2009 2008 Q4
Revenue $158.5M $592.0M $152.9M
YoY Change 7.24% -7.65% -7.33%
Cost Of Revenue $346.3M
YoY Change
Gross Profit $245.7M
YoY Change
Gross Profit Margin 41.5%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.300M $12.00M $2.900M
YoY Change 13.79% 6.19% 7.41%
% of Gross Profit 4.88%
Operating Expenses $140.4M $517.4M $136.1M
YoY Change 5.41% -4.68% -3.34%
Operating Profit -$271.7M
YoY Change
Interest Expense $0.00 $135.0K $0.00
YoY Change -100.0% -235.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $18.10M $74.39M $16.80M
YoY Change 24.83% -24.17% -30.29%
Income Tax $5.100M $20.24M $4.900M
% Of Pretax Income 28.18% 27.21% 29.17%
Net Earnings $13.00M $54.15M $11.90M
YoY Change 26.21% -22.97% -29.59%
Net Earnings / Revenue 8.2% 9.15% 7.78%
Basic Earnings Per Share $3.49
Diluted Earnings Per Share $860.9K $3.48 $730.1K
COMMON SHARES
Basic Shares Outstanding 15.53M shares
Diluted Shares Outstanding 15.55M shares

Balance Sheet

Concept 2010 Q4 2009 2008 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $40.29M $74.50M $60.45M
Short-Term Investments
Other Short-Term Assets $12.50M $13.70M $21.60M
YoY Change -8.76% -36.57% -25.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $17.60M $85.40M $26.90M
YoY Change 28.47% -25.22% -6.6%
LONG-TERM ASSETS
Property, Plant & Equipment $9.000M
YoY Change -21.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.101B $1.052B $1.035B
YoY Change 4.57% 1.67% -0.05%
Other Assets $3.600M $8.300M $19.00M
YoY Change -56.63% -56.32% 41.79%
Total Long-Term Assets $1.422B $1.342B $1.411B
YoY Change 0.55% 1.42% -0.51%
TOTAL ASSETS
Total Short-Term Assets $17.60M $85.40M $26.90M
Total Long-Term Assets $1.422B $1.342B $1.411B
Total Assets $1.439B $1.428B $1.438B
YoY Change 0.82% -0.7% -0.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
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 $54.20M $63.80M $51.10M
YoY Change -15.05% 24.85% 2.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $15.70M $16.80M
YoY Change -6.55% -5.62%
Total Long-Term Liabilities $15.70M $16.80M $0.00
YoY Change -6.55% -5.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.20M $63.80M $51.10M
Total Long-Term Liabilities $15.70M $16.80M $0.00
Total Liabilities $786.0M $807.4M $834.4M
YoY Change -2.65% -3.24% -4.86%
SHAREHOLDERS EQUITY
Retained Earnings $535.5M
YoY Change
Common Stock $151.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $55.53M
YoY Change
Treasury Stock Shares 1.727M shares
Shareholders Equity $653.5M $620.4M $603.4M
YoY Change
Total Liabilities & Shareholders Equity $1.439B $1.428B $1.438B
YoY Change 0.82% -0.7% -0.64%

Cashflow Statement

Concept 2010 Q4 2009 2008 Q4
OPERATING ACTIVITIES
Net Income $13.00M $54.15M $11.90M
YoY Change 26.21% -22.97% -29.59%
Depreciation, Depletion And Amortization $3.300M $12.00M $2.900M
YoY Change 13.79% 6.19% 7.41%
Cash From Operating Activities $20.20M $64.48M $20.50M
YoY Change -14.41% -11.43% -41.76%
INVESTING ACTIVITIES
Capital Expenditures -$1.600M $335.0K -$500.0K
YoY Change 1500.0% -105.88% -54.55%
Acquisitions
YoY Change
Other Investing Activities -$63.10M $16.40M -$57.50M
YoY Change 273.37% -170.69% 273.38%
Cash From Investing Activities -$64.70M $16.09M -$57.90M
YoY Change 280.59% -155.68% 250.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $42.20M
YoY Change -1210.42%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.100M -$66.55M -9.900M
YoY Change 3.39% 123.32% 57.14%
NET CHANGE
Cash From Operating Activities 20.20M $64.48M 20.50M
Cash From Investing Activities -64.70M $16.09M -57.90M
Cash From Financing Activities -6.100M -$66.55M -9.900M
Net Change In Cash -50.60M $14.02M -47.30M
YoY Change -7328.57% -0.57% -481.45%
FREE CASH FLOW
Cash From Operating Activities $20.20M $64.48M $20.50M
Capital Expenditures -$1.600M $335.0K -$500.0K
Free Cash Flow $21.80M $64.14M $21.00M
YoY Change -8.02% -18.29% -42.15%

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4881000 USD
CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
970000 USD
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PaymentsToAcquirePropertyPlantAndEquipment
4377000 USD
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902000 USD
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-2000 USD
CY2011 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2135000 USD
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IncreaseDecreaseInReinsurancePayables
-233000 USD
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6641000 USD
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339933000 USD
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264553000 USD
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78243000 USD
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6668000 USD
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0 USD
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30322000 USD
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PaymentsForRepurchaseOfCommonStock
43000 USD
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NetCashProvidedByUsedInFinancingActivities
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-2426000 USD
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1561000 USD
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IncreaseDecreaseInOtherOperatingAssets
-2619000 USD
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8488000 USD
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IncreaseDecreaseInReinsuranceRecoverable
-13999000 USD
CY2010 us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
-1237000 USD
CY2010 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
4924000 USD
CY2010 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
888000 USD
CY2010 us-gaap Increase Decrease In Loss And Loss Adjustment Expense Reserve
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35315000 USD
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IncreaseDecreaseInUnearnedPremiums
23619000 USD
CY2010 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-5630000 USD
CY2010 us-gaap Increase Decrease In Reinsurance Payables
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IncreaseDecreaseInOtherOperatingLiabilities
-4997000 USD
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1990000 USD
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57000 USD
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27098000 USD
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5814000 USD
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CY2010 us-gaap Payments To Acquire Available For Sale Securities Equity
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7525000 USD
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220217000 USD
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84954000 USD
CY2010 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
3580000 USD
CY2010 us-gaap Proceeds From Maturities Prepayments And Calls Of Other Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments
0 USD
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PaymentsToAcquirePropertyPlantAndEquipment
2394000 USD
CY2011 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
5060000 USD
CY2010 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
2500000 USD
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ProceedsFromSaleOfOtherInvestments
176000 USD
CY2010 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
91000 USD
CY2011 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
13554000 USD
CY2010 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
12533000 USD
CY2011 us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
-698000 USD
CY2010 us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
573000 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
39943000 USD
CY2010 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
51106000 USD
CY2009 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
12049000 USD
CY2011 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
-4360000 USD
CY2009 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-4686000 USD
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IncreaseDecreaseInLossAndLossAdjustmentExpenseReserve
27853000 USD
CY2009 us-gaap Gain Loss On Sale Of Other Investments
GainLossOnSaleOfOtherInvestments
167000 USD
CY2011 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
CY2010 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-9000 USD
CY2009 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
CY2009 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1554000 USD
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IncreaseDecreaseInInterestAndDividendsReceivable
-87000 USD
CY2009 us-gaap Increase Decrease In Reinsurance Recoverable
IncreaseDecreaseInReinsuranceRecoverable
-15599000 USD
CY2009 us-gaap Increase Decrease In Prepaid Reinsurance Premiums
IncreaseDecreaseInPrepaidReinsurancePremiums
-7922000 USD
CY2009 us-gaap Increase Decrease In Deferred Policy Acquisition Costs
IncreaseDecreaseInDeferredPolicyAcquisitionCosts
1213000 USD
CY2009 us-gaap Increase Decrease In Unearned Premiums
IncreaseDecreaseInUnearnedPremiums
-7261000 USD
CY2009 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8758000 USD
CY2009 us-gaap Increase Decrease In Reinsurance Payables
IncreaseDecreaseInReinsurancePayables
-3617000 USD
CY2009 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2646000 USD
CY2009 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
64478000 USD
CY2009 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
200796000 USD
CY2009 us-gaap Payments To Acquire Available For Sale Securities Equity
PaymentsToAcquireAvailableForSaleSecuritiesEquity
5315000 USD
CY2009 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
475000 USD
CY2009 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
103284000 USD
CY2009 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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32986000 USD
CY2009 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
3680000 USD
CY2009 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
66000 USD
CY2009 us-gaap Proceeds From Maturities Prepayments And Calls Of Other Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfOtherInvestments
82996000 USD
CY2009 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
335000 USD
CY2009 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2010 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
9000 USD
CY2011 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2009 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
367000 USD
CY2009 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
119000 USD
CY2009 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
24840000 USD
CY2009 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
42196000 USD
CY2009 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2009Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
74470000 USD
CY2008Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
60451000 USD
CY2011 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4260000 USD
CY2010 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
28300000 USD
CY2009 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
14109000 USD
CY2011 us-gaap Interest Paid
InterestPaid
75000 USD
CY2010 us-gaap Interest Paid
InterestPaid
123000 USD
CY2009 us-gaap Interest Paid
InterestPaid
75000 USD
CY2011 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-693000 USD
CY2010 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3020000 USD
CY2009 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3024000 USD
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12879000 USD
CY2010 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-54420000 USD
CY2009 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
16091000 USD
CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2401000 USD
CY2010 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-34179000 USD
CY2009 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
14019000 USD

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