$SNCR
SYNCHRONOSS TECHNOLOGIES INC

2013 Q4 Form 10-Q Financial Statement

#000110465913081193 Filed on November 05, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $97.20M $89.72M $68.96M
YoY Change 32.79% 30.1% 16.41%
Cost Of Revenue $40.40M $38.13M $29.14M
YoY Change 29.49% 30.88% 4.88%
Gross Profit $56.80M $51.58M $39.83M
YoY Change 35.24% 29.52% 26.6%
Gross Profit Margin 58.44% 57.5% 57.75%
Selling, General & Admin $16.90M $15.56M $10.28M
YoY Change 39.67% 51.41% -7.56%
% of Gross Profit 29.75% 30.17% 25.81%
Research & Development $15.20M $16.55M $12.65M
YoY Change 7.8% 30.91% 16.23%
% of Gross Profit 26.76% 32.09% 31.75%
Depreciation & Amortization $12.30M $10.21M $6.068M
YoY Change 86.36% 68.31% 53.66%
% of Gross Profit 21.65% 19.8% 15.24%
Operating Expenses $36.50M $32.12M $22.92M
YoY Change 12.65% 40.1% 4.21%
Operating Profit $20.30M $8.754M $11.16M
YoY Change 111.46% -21.57% 121.84%
Interest Expense -$300.0K $235.0K $222.0K
YoY Change 5.86% 12.12%
% of Operating Profit -1.48% 2.68% 1.99%
Other Income/Expense, Net $500.0K -$400.0K $207.0K
YoY Change 66.67% -293.24% 666.67%
Pretax Income $20.60M $8.299M $11.03M
YoY Change 198.55% -24.74% 119.57%
Income Tax $4.700M $4.709M $4.825M
% Of Pretax Income 22.82% 56.74% 43.76%
Net Earnings $15.90M $3.590M $6.202M
YoY Change 367.65% -42.12% 73.48%
Net Earnings / Revenue 16.36% 4.0% 8.99%
Basic Earnings Per Share $0.09 $0.16
Diluted Earnings Per Share $386.9K $0.09 $0.16
COMMON SHARES
Basic Shares Outstanding 40.53M shares 38.96M shares 38.11M shares
Diluted Shares Outstanding 40.06M shares 38.87M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.60M $45.00M $118.0M
YoY Change 29.18% -61.86% -29.26%
Cash & Equivalents $63.51M $37.09M $52.74M
Short-Term Investments $9.100M $7.900M $65.30M
Other Short-Term Assets $24.10M $27.80M $18.90M
YoY Change -14.23% 47.09% 18.87%
Inventory
Prepaid Expenses
Receivables $64.93M $88.69M $65.99M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $161.6M $161.5M $202.9M
YoY Change 1.45% -20.39% -11.06%
LONG-TERM ASSETS
Property, Plant & Equipment $106.1M $95.82M $49.42M
YoY Change 82.43% 93.9% 38.82%
Goodwill $137.7M $126.0M $67.84M
YoY Change 8.18% 85.73%
Intangibles $102.0M $100.8M $73.77M
YoY Change -7.94% 36.59%
Long-Term Investments $5.000M $5.800M $14.60M
YoY Change 614.29% -60.27% -36.24%
Other Assets $10.38M $9.821M $2.118M
YoY Change 198.16% 363.69% -90.15%
Total Long-Term Assets $365.4M $342.2M $219.1M
YoY Change 18.89% 56.24% 54.95%
TOTAL ASSETS
Total Short-Term Assets $161.6M $161.5M $202.9M
Total Long-Term Assets $365.4M $342.2M $219.1M
Total Assets $527.0M $503.7M $421.9M
YoY Change 12.93% 19.39% 14.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.528M $11.66M $5.549M
YoY Change 6.1% 110.13% -13.3%
Accrued Expenses $37.92M $29.76M $22.41M
YoY Change -8.98% 32.76% 39.21%
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 $62.84M $72.48M $38.18M
YoY Change -16.07% 89.85% -0.5%
LONG-TERM LIABILITIES
Long-Term Debt $9.300M $9.300M $9.300M
YoY Change -2.11% 0.0% 1.09%
Other Long-Term Liabilities $2.819M $3.139M $856.0K
YoY Change 13.03% 266.71% 7.0%
Total Long-Term Liabilities $2.819M $3.139M $856.0K
YoY Change 13.03% 266.71% -91.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.84M $72.48M $38.18M
Total Long-Term Liabilities $2.819M $3.139M $856.0K
Total Liabilities $65.66M $75.62M $39.04M
YoY Change -15.13% 93.73% -19.35%
SHAREHOLDERS EQUITY
Retained Earnings $121.8M $105.9M $95.02M
YoY Change 23.71% 11.5%
Common Stock $393.6M $381.9M $336.1M
YoY Change 14.28% 13.63%
Preferred Stock
YoY Change
Treasury Stock (at cost) $67.10M $67.10M $57.20M
YoY Change -1.2% 17.31%
Treasury Stock Shares 3.793M shares 3.793M shares 3.324M shares
Shareholders Equity $447.6M $418.9M $373.6M
YoY Change
Total Liabilities & Shareholders Equity $527.0M $503.7M $421.9M
YoY Change 12.93% 19.39% 14.2%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $15.90M $3.590M $6.202M
YoY Change 367.65% -42.12% 73.48%
Depreciation, Depletion And Amortization $12.30M $10.21M $6.068M
YoY Change 86.36% 68.31% 53.66%
Cash From Operating Activities $47.70M $100.0K $18.50M
YoY Change 126.07% -99.46% 20.92%
INVESTING ACTIVITIES
Capital Expenditures -$18.20M -$17.50M -$3.500M
YoY Change 133.33% 400.0% -23.91%
Acquisitions
YoY Change
Other Investing Activities -$7.100M $1.000M $7.800M
YoY Change -64.32% -87.18% -209.86%
Cash From Investing Activities -$25.40M -$16.50M $4.200M
YoY Change -8.3% -492.86% -135.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.500M 7.200M -5.600M
YoY Change -124.75% -228.57% -30.0%
NET CHANGE
Cash From Operating Activities 47.70M 100.0K 18.50M
Cash From Investing Activities -25.40M -16.50M 4.200M
Cash From Financing Activities 2.500M 7.200M -5.600M
Net Change In Cash 24.80M -9.200M 17.10M
YoY Change -248.5% -153.8% -488.64%
FREE CASH FLOW
Cash From Operating Activities $47.70M $100.0K $18.50M
Capital Expenditures -$18.20M -$17.50M -$3.500M
Free Cash Flow $65.90M $17.60M $22.00M
YoY Change 128.03% -20.0% 10.55%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Nature Of Operations
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dei Entity Registrant Name
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SYNCHRONOSS TECHNOLOGIES INC
dei Entity Central Index Key
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dei Document Type
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dei Document Period End Date
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us-gaap Depreciation Depletion And Amortization
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17201000 USD
us-gaap Costs And Expenses
CostsAndExpenses
165673000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
34838000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
1023000 USD
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4825000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
8738000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
586000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
35745000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12111000 USD
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6773000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5942000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
24054000 USD
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
us-gaap Costs And Expenses
CostsAndExpenses
237218000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
14622000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14014000 USD
sncr Depreciation Depletion And Amortization Excluding Bond Premiums
DepreciationDepletionAndAmortizationExcludingBondPremiums
17199000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-198000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1000000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
32000 USD
sncr Leased Facility Accrued Noncash Interest
LeasedFacilityAccruedNoncashInterest
690000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
14387000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6733000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-7022000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
122000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2665000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3042000 USD
sncr Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 Cash Flow Effect
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1CashFlowEffect
-8396000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
6592000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-146000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1707000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
34759000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25377000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
13082000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
15531000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
26572000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-49500000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-11952000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7330000 USD
sncr Payments On Contingent Consideration
PaymentsOnContingentConsideration
2268000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
6592000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
13898000 USD
us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
612000 USD
us-gaap Proceeds From Long Term Capital Lease Obligations
ProceedsFromLongTermCapitalLeaseObligations
38000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
750000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2344000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
391000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-16694000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3222000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
33410000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-48284000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
17626000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
1059000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37087000 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
52736000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69430000 USD
CY2013Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
88694000 USD
CY2013Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
23710000 USD
CY2013Q3 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
4120000 USD
CY2013Q3 us-gaap Available For Sale Securities Noncurrent
AvailableForSaleSecuritiesNoncurrent
5787000 USD
CY2013Q3 us-gaap Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
4047000 USD
CY2013Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
9821000 USD
CY2013Q3 us-gaap Assets
Assets
503743000 USD
CY2013Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
11660000 USD
CY2013Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
29756000 USD
CY2013Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
22031000 USD
CY2013Q3 sncr Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
9037000 USD
CY2013Q3 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
9257000 USD
CY2013Q3 us-gaap Common Stock Value
CommonStockValue
4000 USD
CY2013Q3 us-gaap Treasury Stock Value
TreasuryStockValue
67104000 USD
CY2013Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
381919000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
105945000 USD
us-gaap Revenues
Revenues
251840000 USD
us-gaap Cost Of Services
CostOfServices
105791000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
49630000 USD
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
2676000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
28792000 USD
us-gaap Interest Expense
InterestExpense
714000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
-326000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6536000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
225000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3401000 USD
sncr Leased Facility Accrued Noncash Interest
LeasedFacilityAccruedNoncashInterest
691000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
18313000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
13714000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1656000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6724000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2680000 USD
sncr Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 Cash Flow Effect
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1CashFlowEffect
1724000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
983000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1063000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
760000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
55216000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
6703000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
13635000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
17495000 USD
sncr Payments On Contingent Consideration
PaymentsOnContingentConsideration
1090000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
983000 USD
us-gaap Proceeds From Sale Of Treasury Stock
ProceedsFromSaleOfTreasuryStock
1474000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1236000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-1693000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1131000 USD

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