2013 Q2 Form 10-Q Financial Statement

#000110465913056635 Filed on July 25, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $141.5M $135.7M
YoY Change 4.33% 13.44%
Cost Of Revenue $52.77M $52.87M
YoY Change -0.19% 11.3%
Gross Profit $88.77M $82.80M
YoY Change 7.21% 14.68%
Gross Profit Margin 62.72% 61.03%
Selling, General & Admin $32.36M $32.18M
YoY Change 0.56% 0.87%
% of Gross Profit 36.45% 38.86%
Research & Development $37.39M $34.25M
YoY Change 9.18% -3.26%
% of Gross Profit 42.12% 41.36%
Depreciation & Amortization $6.100M $5.500M
YoY Change 10.91% -14.06%
% of Gross Profit 6.87% 6.64%
Operating Expenses $69.74M $66.42M
YoY Change 5.0% -1.16%
Operating Profit $19.03M $16.38M
YoY Change 16.18% 227.58%
Interest Expense $831.0K $32.00K
YoY Change 2496.88% -94.67%
% of Operating Profit 4.37% 0.2%
Other Income/Expense, Net $114.0K $1.079M
YoY Change -89.43% 439.5%
Pretax Income $18.46M $17.79M
YoY Change 3.79% 212.09%
Income Tax $5.852M -$2.720M
% Of Pretax Income 31.69% -15.29%
Net Earnings $12.60M $20.50M
YoY Change -38.54% -1125.0%
Net Earnings / Revenue 8.9% 15.11%
Basic Earnings Per Share $0.30 $0.48
Diluted Earnings Per Share $0.29 $0.47
COMMON SHARES
Basic Shares Outstanding 42.55M shares 42.66M shares
Diluted Shares Outstanding 43.27M shares 43.42M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $344.9M $311.9M
YoY Change 10.58% -3.23%
Cash & Equivalents $193.5M $173.8M
Short-Term Investments $151.4M $204.3M
Other Short-Term Assets $62.80M $54.40M
YoY Change 15.44% 10.12%
Inventory $50.66M $36.00M
Prepaid Expenses
Receivables $68.64M $72.70M
Other Receivables $0.00 $0.00
Total Short-Term Assets $526.9M $474.9M
YoY Change 10.96% 0.79%
LONG-TERM ASSETS
Property, Plant & Equipment $135.0M $23.50M
YoY Change 474.49% -20.34%
Goodwill $130.3M
YoY Change
Intangibles $85.12M
YoY Change
Long-Term Investments $10.20M $11.00M
YoY Change -7.27% -35.29%
Other Assets $25.51M $41.00M
YoY Change -37.78% 37.58%
Total Long-Term Assets $386.1M $246.4M
YoY Change 56.69% -6.06%
TOTAL ASSETS
Total Short-Term Assets $526.9M $474.9M
Total Long-Term Assets $386.1M $246.4M
Total Assets $913.0M $721.3M
YoY Change 26.58% -1.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.95M $36.40M
YoY Change -28.7% 78.43%
Accrued Expenses $36.01M $31.00M
YoY Change 16.17% 16.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M
YoY Change
Total Short-Term Liabilities $98.40M $94.40M
YoY Change 4.24% 18.44%
LONG-TERM LIABILITIES
Long-Term Debt $91.25M $0.00
YoY Change
Other Long-Term Liabilities $18.00M $9.700M
YoY Change 85.57% -58.72%
Total Long-Term Liabilities $91.25M $9.700M
YoY Change 840.72% -58.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.40M $94.40M
Total Long-Term Liabilities $91.25M $9.700M
Total Liabilities $207.7M $104.1M
YoY Change 99.52% 0.87%
SHAREHOLDERS EQUITY
Retained Earnings $673.4M
YoY Change
Common Stock $32.84M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $705.4M $617.2M
YoY Change
Total Liabilities & Shareholders Equity $913.0M $721.3M
YoY Change 26.58% -1.66%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $12.60M $20.50M
YoY Change -38.54% -1125.0%
Depreciation, Depletion And Amortization $6.100M $5.500M
YoY Change 10.91% -14.06%
Cash From Operating Activities $36.60M $15.20M
YoY Change 140.79% -684.62%
INVESTING ACTIVITIES
Capital Expenditures -$2.600M -$2.700M
YoY Change -3.7% 0.0%
Acquisitions
YoY Change
Other Investing Activities $76.80M $96.60M
YoY Change -20.5% -2246.67%
Cash From Investing Activities $74.20M $93.90M
YoY Change -20.98% -1404.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.400M -33.30M
YoY Change -110.21% 226.47%
NET CHANGE
Cash From Operating Activities 36.60M 15.20M
Cash From Investing Activities 74.20M 93.90M
Cash From Financing Activities 3.400M -33.30M
Net Change In Cash 114.2M 75.80M
YoY Change 50.66% -479.0%
FREE CASH FLOW
Cash From Operating Activities $36.60M $15.20M
Capital Expenditures -$2.600M -$2.700M
Free Cash Flow $39.20M $17.90M
YoY Change 118.99% 17800.0%

Facts In Submission

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CY2013Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2013Q2 us-gaap Common Stock Shares Issued
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42668000 shares
CY2012Q2 us-gaap Sales Revenue Net
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135670000 USD
CY2012Q2 us-gaap Cost Of Goods Sold
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52868000 USD
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us-gaap Cost Of Goods Sold
CostOfGoodsSold
103474000 USD
us-gaap Gross Profit
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CY2012Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
34245000 USD
CY2012Q2 us-gaap Selling General And Administrative Expense
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32178000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
34906000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
67175000 USD
us-gaap Selling General And Administrative Expense
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57580000 USD
us-gaap Operating Expenses
OperatingExpenses
124755000 USD
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
16379000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
19029000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
33143000 USD
CY2012Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
363000 USD
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InterestExpense
32000 USD
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OtherNonoperatingIncomeExpense
1079000 USD
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
17789000 USD
us-gaap Investment Income Interest
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860000 USD
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InterestExpense
65000 USD
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968000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
77000 USD
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88773000 USD
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66423000 USD
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18464000 USD
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39666000 USD
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38542000 USD
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OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-83000 USD
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
27000 USD
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-54000 USD
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ComprehensiveIncomeNetOfTax
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-182000 USD
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517000 USD
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-6000 USD
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-138000 USD
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880000 USD
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OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
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OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
440000 USD
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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ComprehensiveIncomeNetOfTax
35648000 USD
us-gaap Depreciation
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6749000 USD
slab Amortization Of Intangibles And Other Assets
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4559000 USD
us-gaap Share Based Compensation
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15865000 USD
slab Tax Benefit Detriment From Share Based Compensation
TaxBenefitDetrimentFromShareBasedCompensation
-2627000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
2450000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1625000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
17315000 USD
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IncreaseDecreaseInInventories
1299000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4806000 USD
us-gaap Increase Decrease In Accounts Payable
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8766000 USD
us-gaap Increase Decrease In Accrued Liabilities
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-5203000 USD
slab Increase Decrease In Deferred Income On Shipments To Distributors
IncreaseDecreaseInDeferredIncomeOnShipmentsToDistributors
1372000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-13672000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
41259000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
105169000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
186514000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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5095000 USD
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PaymentsToAcquireProductiveAssets
7919000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
68331000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2922000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
2450000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
36173000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3750000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-30801000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
66097000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
15940000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
6005000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
88042000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
94964000 USD
CY2012Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
173753000 USD
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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12612000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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1144000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Before Tax
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322000 USD
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OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
10000 USD
us-gaap Depreciation
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6634000 USD
slab Amortization Of Intangibles And Other Assets
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us-gaap Share Based Compensation
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489000 USD
us-gaap Stock Repurchased And Retired During Period Shares
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1100000 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
38800000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
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-1207000 USD
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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1101000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Before Tax
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141000 USD
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OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
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us-gaap Net Cash Provided By Used In Continuing Operations
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78789000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
243000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
9277000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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IncreaseDecreaseInInventories
1028000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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slab Increase Decrease In Deferred Income On Shipments To Distributors
IncreaseDecreaseInDeferredIncomeOnShipmentsToDistributors
293000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
121994000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
146870000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6498000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2438000 USD
us-gaap Proceeds From Issuance Of Common Stock
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243000 USD
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeBeforeTax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeBeforeTax
-232000 USD

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