2018 Q4 Form 10-Q Financial Statement

#000165072918000019 Filed on October 31, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $474.6M $578.5M $502.4M
YoY Change -5.53% -4.95% 13.03%
Cost Of Revenue $325.9M $387.5M $342.1M
YoY Change -4.74% -4.6% 11.76%
Gross Profit $148.7M $191.0M $160.3M
YoY Change -7.24% -5.63% 15.82%
Gross Profit Margin 31.33% 33.02% 31.91%
Selling, General & Admin $150.1M $151.8M $128.1M
YoY Change 17.17% 19.91% 18.94%
% of Gross Profit 100.94% 79.48% 79.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.00M $5.700M $4.700M
YoY Change 197.87% 35.71% 34.29%
% of Gross Profit 9.41% 2.98% 2.93%
Operating Expenses $148.1M $151.8M $128.1M
YoY Change 15.61% 19.91% 18.94%
Operating Profit $600.0K $41.50M $33.80M
YoY Change -98.22% -46.17% 5.96%
Interest Expense -$8.300M $9.200M $6.200M
YoY Change -233.87% 39.39% -1.59%
% of Operating Profit -1383.33% 22.17% 18.34%
Other Income/Expense, Net
YoY Change
Pretax Income -$7.700M $32.30M $27.60M
YoY Change -127.9% -54.18% 7.81%
Income Tax -$6.700M $2.400M $10.70M
% Of Pretax Income 7.43% 38.77%
Net Earnings -$2.100M $29.90M $16.90M
YoY Change -112.43% -32.35% 13.42%
Net Earnings / Revenue -0.44% 5.17% 3.36%
Basic Earnings Per Share $0.74 $0.42
Diluted Earnings Per Share -$51.34K $0.70 $0.41
COMMON SHARES
Basic Shares Outstanding 40.84M shares 40.66M shares 39.78M shares
Diluted Shares Outstanding 42.75M shares 41.37M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.30M $17.10M $24.10M
YoY Change -28.22% -15.35% -6.95%
Cash & Equivalents $17.30M $23.40M $16.70M
Short-Term Investments
Other Short-Term Assets $41.10M $31.00M $33.10M
YoY Change 24.17% 25.51% 26.82%
Inventory $411.7M $426.5M $338.3M
Prepaid Expenses
Receivables $285.3M $306.3M $219.9M
Other Receivables $10.00M $1.300M $2.700M
Total Short-Term Assets $765.4M $813.1M $601.9M
YoY Change 27.16% 17.31% 1.86%
LONG-TERM ASSETS
Property, Plant & Equipment $88.40M $86.80M $75.50M
YoY Change 17.09% 18.9% 11.19%
Goodwill $148.4M $144.0M $106.5M
YoY Change 39.34% 39.81% 61.12%
Intangibles $155.6M $154.3M $112.8M
YoY Change 37.94% 36.19% 6.42%
Long-Term Investments
YoY Change
Other Assets $10.10M $12.50M $14.00M
YoY Change -27.86% 35.87% 53.85%
Total Long-Term Assets $403.1M $397.6M $308.8M
YoY Change 30.54% 33.2% 23.97%
TOTAL ASSETS
Total Short-Term Assets $765.4M $813.1M $601.9M
Total Long-Term Assets $403.1M $397.6M $308.8M
Total Assets $1.169B $1.211B $910.7M
YoY Change 28.31% 22.1% 8.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $184.6M $197.4M $124.1M
YoY Change 48.75% 2.65% -9.55%
Accrued Expenses $45.10M $53.10M $33.20M
YoY Change 35.84% 37.21% -2.92%
Deferred Revenue $7.400M $9.800M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.500M $4.500M $3.500M
YoY Change 28.57% 50.0% 25.0%
Total Short-Term Liabilities $282.4M $299.4M $205.8M
YoY Change 37.22% 5.27% -1.01%
LONG-TERM LIABILITIES
Long-Term Debt $553.7M $569.7M $460.1M
YoY Change 20.34% 19.68% 6.58%
Other Long-Term Liabilities $6.900M $11.60M $16.80M
YoY Change -58.93% -10.77% 51.35%
Total Long-Term Liabilities $560.6M $581.3M $476.9M
YoY Change 17.55% 18.88% 7.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $282.4M $299.4M $205.8M
Total Long-Term Liabilities $560.6M $581.3M $476.9M
Total Liabilities $866.7M $906.6M $697.9M
YoY Change 24.19% 12.66% 1.56%
SHAREHOLDERS EQUITY
Retained Earnings $60.10M $62.20M -$15.10M
YoY Change -498.01% -272.78% -76.48%
Common Stock $400.0K $400.0K $400.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $301.8M $304.1M $212.8M
YoY Change
Total Liabilities & Shareholders Equity $1.169B $1.211B $910.7M
YoY Change 28.31% 22.1% 8.42%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$2.100M $29.90M $16.90M
YoY Change -112.43% -32.35% 13.42%
Depreciation, Depletion And Amortization $14.00M $5.700M $4.700M
YoY Change 197.87% 35.71% 34.29%
Cash From Operating Activities $36.40M $12.40M $17.10M
YoY Change 112.87% -46.09% -670.0%
INVESTING ACTIVITIES
Capital Expenditures -$3.800M -$7.100M -$4.600M
YoY Change -17.39% 144.83% 155.56%
Acquisitions
YoY Change
Other Investing Activities -$20.50M -$15.70M -$7.200M
YoY Change 184.72% 390.63% -51.35%
Cash From Investing Activities -$24.30M -$22.80M -$11.80M
YoY Change 105.93% 273.77% -28.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.10M -4.200M -1.500M
YoY Change 1106.67% -66.93% -105.64%
NET CHANGE
Cash From Operating Activities 36.40M 12.40M 17.10M
Cash From Investing Activities -24.30M -22.80M -11.80M
Cash From Financing Activities -18.10M -4.200M -1.500M
Net Change In Cash -6.000M -14.60M 3.800M
YoY Change -257.89% -447.62% -45.71%
FREE CASH FLOW
Cash From Operating Activities $36.40M $12.40M $17.10M
Capital Expenditures -$3.800M -$7.100M -$4.600M
Free Cash Flow $40.20M $19.50M $21.70M
YoY Change 85.25% -24.71% -1908.33%

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CY2017Q4 us-gaap Liabilities And Stockholders Equity
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CY2018Q3 us-gaap Long Term Debt Noncurrent
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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CY2017Q4 us-gaap Net Income Loss
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us-gaap Net Income Loss
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29900000 USD
us-gaap Net Income Loss
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CY2018Q3 us-gaap Number Of Stores
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CY2017Q4 us-gaap Operating Income Loss
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us-gaap Operating Income Loss
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99000000 USD
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us-gaap Operating Income Loss
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CY2017Q4 us-gaap Other Assets Noncurrent
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14000000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
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CY2017Q4 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
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400000 USD
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300000 USD
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600000 USD
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200000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2017Q4 us-gaap Other Liabilities Noncurrent
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CY2017Q4 us-gaap Other Operating Income
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us-gaap Other Operating Income
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us-gaap Other Operating Income
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us-gaap Payment For Contingent Consideration Liability Financing Activities
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us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2018Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
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CY2017Q4 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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us-gaap Fiscal Period
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Year</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s fiscal year is a 52- or 53-week period ending on the Sunday nearest to December 31. The fiscal year ending </font><font style="font-family:inherit;font-size:10pt;">December&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and the fiscal year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> both include 52 weeks. The three months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">October&#160;1, 2017</font><font style="font-family:inherit;font-size:10pt;"> both include </font><font style="font-family:inherit;font-size:10pt;">13</font><font style="font-family:inherit;font-size:10pt;"> weeks. The </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">October&#160;1, 2017</font><font style="font-family:inherit;font-size:10pt;"> both include </font><font style="font-family:inherit;font-size:10pt;">39</font><font style="font-family:inherit;font-size:10pt;"> weeks.</font></div></div>
us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S.&#160;GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the financial statements and accompanying notes. Actual results could differ materially from these estimates.</font></div></div>

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