2019 Q4 Form 10-Q Financial Statement

#000091376020000025 Filed on February 05, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $11.25B $6.552B
YoY Change 71.62% -17.26%
Cost Of Revenue $10.97B $6.288K
YoY Change 174444432.8% -18.41%
Gross Profit $276.8M $264.7M
YoY Change 4.57% 24.51%
Gross Profit Margin 2.46% 4.04%
Selling, General & Admin $169.0M $152.0M
YoY Change 11.18% 10.14%
% of Gross Profit 61.05% 57.42%
Research & Development $10.40M $9.200M
YoY Change 13.04% 112195021.95%
% of Gross Profit 3.76% 3.48%
Depreciation & Amortization $3.900M $2.900M
YoY Change 34.48% 107407307.41%
% of Gross Profit 1.41% 1.1%
Operating Expenses $10.40M $9.200M
YoY Change 13.04% 112195021.95%
Operating Profit $266.4M $255.5M
YoY Change 4.27% 20.18%
Interest Expense $31.10M $30.20M
YoY Change 2.98% 111.19%
% of Operating Profit 11.67% 11.82%
Other Income/Expense, Net $2.600M $2.500M
YoY Change 4.0% 19.05%
Pretax Income $21.70M $24.40M
YoY Change -11.07% 31.18%
Income Tax $5.400M $6.200M
% Of Pretax Income 24.88% 25.41%
Net Earnings $16.30M $18.20M
YoY Change -10.44% -363.77%
Net Earnings / Revenue 0.14% 0.28%
Basic Earnings Per Share $0.85 $0.96
Diluted Earnings Per Share $0.84 $0.94
COMMON SHARES
Basic Shares Outstanding 18.75M shares 18.66M shares
Diluted Shares Outstanding 19.07M shares 18.99M shares

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $339.0M $358.0M
YoY Change -5.31% 11.18%
Cash & Equivalents $3.069B $358.20
Short-Term Investments
Other Short-Term Assets $3.760B
YoY Change
Inventory $249.7M $222.5M
Prepaid Expenses
Receivables $329.0M $352.0M
Other Receivables $5.000M $1.000M
Total Short-Term Assets $4.433B $711.0M
YoY Change 523.49% 23.22%
LONG-TERM ASSETS
Property, Plant & Equipment $43.30M $44.70
YoY Change 96867908.95% -100.0%
Goodwill $55.50M $48.60M
YoY Change 14.2% 5.88%
Intangibles $16.00M $10.70M
YoY Change 49.53% -8.55%
Long-Term Investments $5.208B $4.209B
YoY Change 23.73% 55.26%
Other Assets $19.00M $3.404B
YoY Change -99.44% 9.24%
Total Long-Term Assets $5.696B -$711.0M
YoY Change -901.18% -111.41%
TOTAL ASSETS
Total Short-Term Assets $4.433B $711.0M
Total Long-Term Assets $5.696B -$711.0M
Total Assets $10.13B $8.711K
YoY Change 116288287.58% -100.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.984B $3.499B
YoY Change 13.86% 7.3%
Accrued Expenses $36.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $4.362B $408.5M
YoY Change 967.81% 16.71%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.538B $3.410B
YoY Change 33.08% 81.48%
LONG-TERM LIABILITIES
Long-Term Debt $325.0M $435.0M
YoY Change -25.29% 2.84%
Other Long-Term Liabilities $666.0M $840.0M
YoY Change -20.71% 4.61%
Total Long-Term Liabilities $991.0M $1.275B
YoY Change -22.27% 4.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.538B $3.410B
Total Long-Term Liabilities $991.0M $1.275B
Total Liabilities $9.514B $8.185K
YoY Change 116248907.27% -100.0%
SHAREHOLDERS EQUITY
Retained Earnings $419.1M $335.20
YoY Change 125029732.94% -100.0%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $50.50M $46.30
YoY Change 109071174.3% -100.0%
Treasury Stock Shares 2.232M shares 2.122M shares
Shareholders Equity $614.9M $526.0M
YoY Change
Total Liabilities & Shareholders Equity $10.13B $8.711K
YoY Change 116288287.58% -100.0%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income $16.30M $18.20M
YoY Change -10.44% -363.77%
Depreciation, Depletion And Amortization $3.900M $2.900M
YoY Change 34.48% 107407307.41%
Cash From Operating Activities $667.6M -$213.0M
YoY Change -413.43% 115197304.0%
INVESTING ACTIVITIES
Capital Expenditures $1.800M $4.500M
YoY Change -60.0% 140624900.0%
Acquisitions $5.100M $700.0K
YoY Change 628.57%
Other Investing Activities -$5.100M -$700.0K
YoY Change 628.57%
Cash From Investing Activities -$6.900M -$5.200M
YoY Change 32.69% 162499900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $400.0K $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$43.70M $79.60M
YoY Change -154.9% 41675292.67%
NET CHANGE
Cash From Operating Activities $667.6M -$213.0M
Cash From Investing Activities -$6.900M -$5.200M
Cash From Financing Activities -$43.70M $79.60M
Net Change In Cash $617.7M -$138.3M
YoY Change -546.64% -4768965617.24%
FREE CASH FLOW
Cash From Operating Activities $667.6M -$213.0M
Capital Expenditures $1.800M $4.500M
Free Cash Flow $665.8M -$217.5M
YoY Change -406.11% 115629884.05%

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CY2019Q4 us-gaap Fair Value Of Securities Received As Collateral That Have Been Resold Or Repledged
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268000000 USD
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478800000 USD
CY2019Q4 us-gaap Financial Instruments Owned And Pledged As Collateral Amount Eligible To Be Repledged By Counterparty
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577900000 USD
CY2019Q3 us-gaap Financial Instruments Owned And Pledged As Collateral Amount Not Eligible To Be Repledged By Counterparty
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1228900000 USD
CY2019Q4 us-gaap Financial Instruments Owned And Pledged As Collateral Amount Not Eligible To Be Repledged By Counterparty
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CY2019Q3 us-gaap Financial Instruments Owned At Fair Value
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CY2019Q4 us-gaap Financial Instruments Owned At Fair Value
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CY2019Q4 us-gaap Financial Instruments Sold Not Yet Purchased At Fair Value
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2200000 USD
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3100000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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1400000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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1600000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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2900000 USD
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27400000 USD
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11900000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
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11200000 USD
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50100000 USD
CY2019Q4 us-gaap Floor Brokerage Exchange And Clearance Fees
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CY2019Q4 us-gaap Foreign Earnings Repatriated
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CY2019Q4 us-gaap General Insurance Expense
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4300000 USD
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CY2019Q4 us-gaap Gross Profit
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400000 USD
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24400000 USD
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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21700000 USD
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6200000 USD
CY2019Q4 us-gaap Income Tax Expense Benefit
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5400000 USD
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5200000 USD
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4700000 USD
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5300000 USD
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2900000 USD
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63700000 USD
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1000000 USD
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281100000 USD
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2200000 USD
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0 USD
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20400000 USD
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133600000 USD
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14400000 USD
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114200000 USD
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302600000 USD
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157900000 USD
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6100000 USD
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4100000 USD
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320500000 USD
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178600000 USD
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737900000 USD
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4500000 USD
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753100000 USD
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4800000 USD
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2700000 USD
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2700000 USD
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CY2018Q4 us-gaap Professional Fees
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CY2019Q4 us-gaap Professional Fees
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2380000000 USD
CY2018Q4 us-gaap Repayments Of Notes Payable
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200000 USD
CY2019Q4 us-gaap Repayments Of Notes Payable
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100000 USD
CY2018Q4 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
0 USD
CY2019Q4 us-gaap Repayments Of Short Term Debt Maturing In More Than Three Months
RepaymentsOfShortTermDebtMaturingInMoreThanThreeMonths
138000000 USD
CY2018Q4 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
0 USD
CY2019Q4 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
2500000 USD
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
402100000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
419100000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
116500000 USD
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
108500000 USD
CY2018Q4 us-gaap Revenues
Revenues
6552200000 USD
CY2019Q4 us-gaap Revenues
Revenues
11245000000 USD
CY2018Q4 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
149000000 USD
CY2019Q4 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
170500000 USD
CY2019Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
34600000 USD
CY2019Q3 us-gaap Securities Borrowed
SecuritiesBorrowed
1423200000 USD
CY2019Q4 us-gaap Securities Borrowed
SecuritiesBorrowed
1427700000 USD
CY2019Q3 us-gaap Securities Loaned
SecuritiesLoaned
1459900000 USD
CY2019Q4 us-gaap Securities Loaned
SecuritiesLoaned
1430800000 USD
CY2019Q3 us-gaap Securities Loaned Fair Value Of Collateral
SecuritiesLoanedFairValueOfCollateral
1414000000.0 USD
CY2019Q4 us-gaap Securities Loaned Fair Value Of Collateral
SecuritiesLoanedFairValueOfCollateral
1403000000.0 USD
CY2019Q3 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
1424500000 USD
CY2019Q4 us-gaap Securities Purchased Under Agreements To Resell
SecuritiesPurchasedUnderAgreementsToResell
1603100000 USD
CY2018Q4 us-gaap Securities Segregated Under Commodity Exchange Act Regulation
SecuritiesSegregatedUnderCommodityExchangeActRegulation
0 USD
CY2019Q4 us-gaap Securities Segregated Under Commodity Exchange Act Regulation
SecuritiesSegregatedUnderCommodityExchangeActRegulation
300000000 USD
CY2018Q4 us-gaap Securities Segregated Under Other Regulations
SecuritiesSegregatedUnderOtherRegulations
26800000 USD
CY2019Q4 us-gaap Securities Segregated Under Other Regulations
SecuritiesSegregatedUnderOtherRegulations
363700000 USD
CY2019Q3 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
2773700000 USD
CY2019Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
2931600000 USD
CY2019Q3 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
478800000 USD
CY2019Q4 us-gaap Securities Sold Under Agreements To Repurchase Fair Value Of Collateral
SecuritiesSoldUnderAgreementsToRepurchaseFairValueOfCollateral
577900000 USD
CY2019Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
1000000 USD
CY2019Q3 us-gaap Senior Notes
SeniorNotes
167600000 USD
CY2019Q4 us-gaap Senior Notes
SeniorNotes
186700000 USD
CY2018Q4 us-gaap Share Based Compensation
ShareBasedCompensation
1900000 USD
CY2019Q4 us-gaap Share Based Compensation
ShareBasedCompensation
2600000 USD
CY2018Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
300000 USD
CY2019Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1500000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
505300000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
526000000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
594200000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
614900000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
594200000 USD
CY2018Q4 us-gaap Supplies And Postage Expense
SuppliesAndPostageExpense
500000 USD
CY2019Q4 us-gaap Supplies And Postage Expense
SuppliesAndPostageExpense
400000 USD
CY2018Q4 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
900000 USD
CY2019Q4 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
1300000 USD
CY2018Q4 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
3800000 USD
CY2019Q4 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
4500000 USD
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
2221957 shares
CY2019Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2231865 shares
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
50100000 USD
CY2019Q4 us-gaap Treasury Stock Value
TreasuryStockValue
50500000 USD
CY2019Q3 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
383500000 USD
CY2019Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
373700000 USD
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18993046 shares
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19074562 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18659748 shares
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18750270 shares
CY2019Q4 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s fiscal year end is September&#160;30, and the fiscal quarters end on December&#160;31,&#160;March&#160;31, June&#160;30 and September 30. Unless otherwise stated, all dates refer to fiscal years and fiscal interim periods.</font></div></div>
CY2019Q4 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></div>
CY2019Q4 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities as of the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The most significant of these estimates and assumptions relate to fair value measurement for financial instruments and investments, revenue recognition, the provision for bad debts, valuation of inventories, valuation of goodwill and intangible assets, incomes taxes, and contingencies. Although these and other estimates and assumptions are based on the best available information, actual results could be materially different from these estimates.</font></div></div>

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