2018 Q4 Form 10-Q Financial Statement

#000131472719000008 Filed on February 07, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4
Revenue $496.4M $469.0M
YoY Change 5.85% 25.79%
Cost Of Revenue $301.1M $272.7M
YoY Change 10.39% 28.05%
Gross Profit $195.3M $196.2M
YoY Change -0.46% 22.79%
Gross Profit Margin 39.34% 41.84%
Selling, General & Admin $89.68M $116.4M
YoY Change -22.96% 22.01%
% of Gross Profit 45.92% 59.33%
Research & Development $37.10M $33.53M
YoY Change 10.64% 18.06%
% of Gross Profit 18.99% 17.09%
Depreciation & Amortization $9.867M $9.546M
YoY Change 3.36% 23.97%
% of Gross Profit 5.05% 4.87%
Operating Expenses $126.8M $149.9M
YoY Change -15.45% 21.11%
Operating Profit $68.52M $46.27M
YoY Change 48.08% 28.6%
Interest Expense $671.0K -$1.166M
YoY Change -157.55% -71.56%
% of Operating Profit 0.98% -2.52%
Other Income/Expense, Net -$4.397M -$544.0K
YoY Change 708.27% -154.4%
Pretax Income $64.12M $45.73M
YoY Change 40.22% 38.99%
Income Tax $2.500M $32.00K
% Of Pretax Income 3.9% 0.07%
Net Earnings $61.67M $45.70M
YoY Change 34.95% 30.5%
Net Earnings / Revenue 12.42% 9.74%
Basic Earnings Per Share $0.62 $0.42
Diluted Earnings Per Share $0.55 $0.36
COMMON SHARES
Basic Shares Outstanding 100.1M shares 58.77M shares
Diluted Shares Outstanding 112.1M shares 73.55M shares

Balance Sheet

Concept 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $307.4M $188.4M
YoY Change 63.16%
Cash & Equivalents $307.4M $188.6M
Short-Term Investments
Other Short-Term Assets $13.40M $9.900M
YoY Change 35.35% 4.91%
Inventory $109.9M $104.5M
Prepaid Expenses
Receivables $121.7M $66.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $552.3M $369.1M
YoY Change 49.62%
LONG-TERM ASSETS
Property, Plant & Equipment $79.33M $95.00M
YoY Change -16.5%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.500M $4.300M
YoY Change -18.6%
Total Long-Term Assets $83.53M $100.3M
YoY Change -16.72%
TOTAL ASSETS
Total Short-Term Assets $552.3M $369.1M
Total Long-Term Assets $83.53M $100.3M
Total Assets $635.8M $469.4M
YoY Change 35.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $149.2M $131.5M
YoY Change 13.46%
Accrued Expenses $59.87M $71.50M
YoY Change -16.26%
Deferred Revenue $12.62M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $8.333M
YoY Change
Total Short-Term Liabilities $271.6M $231.7M
YoY Change 17.22%
LONG-TERM LIABILITIES
Long-Term Debt $31.45M $39.60M
YoY Change -20.58%
Other Long-Term Liabilities $9.887M $50.50M
YoY Change -80.42%
Total Long-Term Liabilities $41.34M $90.10M
YoY Change -54.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $271.6M $231.7M
Total Long-Term Liabilities $41.34M $90.10M
Total Liabilities $355.8M $321.8M
YoY Change 10.55%
SHAREHOLDERS EQUITY
Retained Earnings -$141.9M
YoY Change
Common Stock $101.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.07M
YoY Change
Treasury Stock Shares
Shareholders Equity $280.0M $57.27M
YoY Change
Total Liabilities & Shareholders Equity $635.8M $469.4M
YoY Change 35.45%

Cashflow Statement

Concept 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $61.67M $45.70M
YoY Change 34.95% 30.5%
Depreciation, Depletion And Amortization $9.867M $9.546M
YoY Change 3.36% 23.97%
Cash From Operating Activities $92.05M $67.97M
YoY Change 35.43% -11.85%
INVESTING ACTIVITIES
Capital Expenditures $5.372M $12.41M
YoY Change -56.71% -277.29%
Acquisitions $0.00
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$5.372M -$12.41M
YoY Change -56.71% 77.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $655.0K
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$105.0K $1.625M
YoY Change -106.46% -90.61%
NET CHANGE
Cash From Operating Activities $92.05M $67.97M
Cash From Investing Activities -$5.372M -$12.41M
Cash From Financing Activities -$105.0K $1.625M
Net Change In Cash $86.44M $57.83M
YoY Change 49.46% -33.83%
FREE CASH FLOW
Cash From Operating Activities $92.05M $67.97M
Capital Expenditures $5.372M $12.41M
Free Cash Flow $86.68M $55.56M
YoY Change 56.02% -33.94%

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CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
10334000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9887000 USD
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
622000 USD
CY2018Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3999000 USD
CY2017Q4 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
182000 USD
CY2018Q4 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
475000 USD
CY2018Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
3403000 USD
CY2018Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
3890000 USD
CY2017Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
655000 USD
CY2018Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2017Q4 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2018Q4 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
567000 USD
CY2017Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12410000 USD
CY2018Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5372000 USD
CY2017Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
7293000 USD
CY2018Q4 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
0 USD
CY2018Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10073000 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13196000 USD
CY2017Q4 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
30000000 USD
CY2018Q4 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
0 USD
CY2017Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2280000 USD
CY2018Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
462000 USD
CY2018Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2450000 USD
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4974000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
85371000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
79327000 USD
CY2017Q4 us-gaap Repayments Of Debt
RepaymentsOfDebt
30000000 USD
CY2018Q4 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 USD
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
33529000 USD
CY2018Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
37095000 USD
CY2018Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
190000 USD
CY2018Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
187000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-203611000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-141944000 USD
CY2017Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
468950000 USD
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
496371000 USD
CY2017Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
94025000 USD
CY2018Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
65852000 USD
CY2017Q4 us-gaap Share Based Compensation
ShareBasedCompensation
9537000 USD
CY2018Q4 us-gaap Share Based Compensation
ShareBasedCompensation
9032000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
32514889 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.44
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
720463 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
976328 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
276959000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
98745000 USD
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
48504182 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
48585594 shares
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.33
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.40
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
98745000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
45915517 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.16
CY2018Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2018Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2018Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
98745000 USD
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M18D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y7M6D
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y4M24D
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y3M18D
CY2017Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2437000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2985000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2450000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
4974000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2404000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2581000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2952000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5105000 USD
CY2018Q4 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
174453 shares
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2280000 USD
CY2018Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
462000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
27000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
57265000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
208358000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
280028000 USD
CY2018Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2
CY2016Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
90341000 USD
CY2017Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
90341000 USD
CY2016Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
32482590 shares
CY2017Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
32482590 shares
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
11072000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11072000 USD
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
655000 USD
CY2017Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
13670000 USD
CY2018Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2017Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
-1899000 USD
CY2018Q4 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
0 USD
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73546144 shares
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112088672 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58772641 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
100148106 shares
CY2018Q4 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of estimates and judgments</font></div><div style="line-height:100%;text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;padding-left:12px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. On an ongoing basis, the Company evaluates its estimates and judgments compared to historical experience and expected trends.</font></div></div>

Files In Submission

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0001314727-19-000008-index.html Edgar Link pending
0001314727-19-000008.txt Edgar Link pending
0001314727-19-000008-xbrl.zip Edgar Link pending
a10-qq1fy19.htm Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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Show.js Edgar Link pending
sono-20181229.xml Edgar Link completed
sono-20181229.xsd Edgar Link pending
sono-20181229_cal.xml Edgar Link unprocessable
sono-20181229_def.xml Edgar Link unprocessable
sono-20181229_lab.xml Edgar Link unprocessable
sono-20181229_pre.xml Edgar Link unprocessable