2018 Q2 Form 10-Q Financial Statement

#000092037118000123 Filed on August 07, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $308.0M $263.0M
YoY Change 17.11% 14.36%
Cost Of Revenue $167.4M $140.1M
YoY Change 19.48% 18.27%
Gross Profit $140.6M $122.9M
YoY Change 14.41% 10.2%
Gross Profit Margin 45.64% 46.72%
Selling, General & Admin $68.01M $66.23M
YoY Change 2.68% 10.82%
% of Gross Profit 48.38% 53.91%
Research & Development $11.20M $13.30M
YoY Change -15.79% 15.65%
% of Gross Profit 7.97% 10.83%
Depreciation & Amortization $9.900M $8.000M
YoY Change 23.75% 6.67%
% of Gross Profit 7.04% 6.51%
Operating Expenses $79.26M $78.20M
YoY Change 1.35% 10.82%
Operating Profit $61.43M $44.61M
YoY Change 37.7% 9.02%
Interest Expense -$200.0K -$200.0K
YoY Change 0.0% 100.0%
% of Operating Profit -0.33% -0.45%
Other Income/Expense, Net
YoY Change
Pretax Income $60.56M $44.93M
YoY Change 34.8% 10.0%
Income Tax $16.48M $16.71M
% Of Pretax Income 27.21% 37.2%
Net Earnings $44.09M $28.21M
YoY Change 56.26% 7.68%
Net Earnings / Revenue 14.31% 10.73%
Basic Earnings Per Share $0.95 $0.59
Diluted Earnings Per Share $0.94 $0.59
COMMON SHARES
Basic Shares Outstanding 46.32M shares 47.63M shares
Diluted Shares Outstanding 46.68M shares 47.92M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $155.0M $141.0M
YoY Change 9.93% -42.75%
Cash & Equivalents $155.0M $141.0M
Short-Term Investments
Other Short-Term Assets $15.77M $17.77M
YoY Change -11.22% 54.72%
Inventory $258.2M $265.3M
Prepaid Expenses
Receivables $211.2M $172.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $640.2M $596.3M
YoY Change 7.35% -3.96%
LONG-TERM ASSETS
Property, Plant & Equipment $269.1M $261.4M
YoY Change 2.97% 19.13%
Goodwill $136.4M $137.2M
YoY Change -0.56% 9.73%
Intangibles $26.76M $30.80M
YoY Change -13.12% 23.65%
Long-Term Investments $2.528M $2.595M
YoY Change -2.58%
Other Assets $10.91M $13.22M
YoY Change -17.48% 41.45%
Total Long-Term Assets $445.7M $445.1M
YoY Change 0.13% 17.56%
TOTAL ASSETS
Total Short-Term Assets $640.2M $596.3M
Total Long-Term Assets $445.7M $445.1M
Total Assets $1.086B $1.041B
YoY Change 4.26% 4.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $47.99M $37.74M
YoY Change 27.14% 39.43%
Accrued Expenses $120.0M $77.60M
YoY Change 54.65% 35.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $500.0K
YoY Change 120.0%
Total Short-Term Liabilities $168.0M $134.3M
YoY Change 25.13% 19.51%
LONG-TERM LIABILITIES
Long-Term Debt $2.200M $1.500M
YoY Change 46.67%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $14.09M $6.333M
YoY Change 122.53% 28.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $168.0M $134.3M
Total Long-Term Liabilities $14.09M $6.333M
Total Liabilities $182.1M $142.1M
YoY Change 28.17% 21.15%
SHAREHOLDERS EQUITY
Retained Earnings $652.1M $675.2M
YoY Change -3.41% 1.4%
Common Stock $272.2M $260.8M
YoY Change 4.36% 7.1%
Preferred Stock
YoY Change
Treasury Stock (at cost) $440.0K $17.54M
YoY Change -97.49% 400.97%
Treasury Stock Shares
Shareholders Equity $903.8M $899.4M
YoY Change
Total Liabilities & Shareholders Equity $1.086B $1.041B
YoY Change 4.26% 4.2%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $44.09M $28.21M
YoY Change 56.26% 7.68%
Depreciation, Depletion And Amortization $9.900M $8.000M
YoY Change 23.75% 6.67%
Cash From Operating Activities $38.30M $15.20M
YoY Change 151.97% -51.9%
INVESTING ACTIVITIES
Capital Expenditures -$8.100M -$16.60M
YoY Change -51.2% 58.1%
Acquisitions
YoY Change
Other Investing Activities $800.0K $0.00
YoY Change -100.0%
Cash From Investing Activities -$7.300M -$16.50M
YoY Change -55.76% 73.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.50M -27.90M
YoY Change -62.37% 342.86%
NET CHANGE
Cash From Operating Activities 38.30M 15.20M
Cash From Investing Activities -7.300M -16.50M
Cash From Financing Activities -10.50M -27.90M
Net Change In Cash 20.50M -29.20M
YoY Change -170.21% -284.81%
FREE CASH FLOW
Cash From Operating Activities $38.30M $15.20M
Capital Expenditures -$8.100M -$16.60M
Free Cash Flow $46.40M $31.80M
YoY Change 45.91% -24.47%

Facts In Submission

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2739000 USD
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3635000 USD
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5516000 USD
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633000 USD
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221000 USD
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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374000 shares
CY2017Q2 us-gaap Intangible Assets Net Excluding Goodwill
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30804000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
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InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
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InventoryWorkInProcessNetOfReserves
26849000 USD
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InventoryWorkInProcessNetOfReserves
27847000 USD
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Liabilities
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LiabilitiesAndStockholdersEquity
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LiabilitiesAndStockholdersEquity
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MoneyMarketFundsAtCarryingValue
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MoneyMarketFundsAtCarryingValue
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us-gaap Net Cash Provided By Used In Continuing Operations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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us-gaap Net Income Loss
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3938000 USD
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290000 USD
us-gaap Number Of Reportable Segments
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3 segment
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OperatingExpenses
78388000 USD
us-gaap Operating Expenses
OperatingExpenses
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OperatingExpenses
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us-gaap Operating Expenses
OperatingExpenses
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OperatingIncomeLoss
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OtherAssetsNoncurrent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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CY2017 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
7469000 USD
CY2018Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-11442000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-7583000 USD
CY2017Q2 us-gaap Other Deferred Compensation Arrangements Liability Current
OtherDeferredCompensationArrangementsLiabilityCurrent
4146000 USD
CY2017Q4 us-gaap Other Deferred Compensation Arrangements Liability Current
OtherDeferredCompensationArrangementsLiabilityCurrent
7054000 USD
CY2018Q2 us-gaap Other Deferred Compensation Arrangements Liability Current
OtherDeferredCompensationArrangementsLiabilityCurrent
4681000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25439000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
17116000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19546000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5155000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5111000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
26289000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
30153000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19040000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
86000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2017000 USD
us-gaap Proceeds From Stock Options Exercised
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1297000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
695000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
512086000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
550922000 USD
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
566849000 USD
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261362000 USD
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273020000 USD
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269127000 USD
us-gaap Provision For Doubtful Accounts
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-25000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
290000 USD
us-gaap Repayments Of Long Term Debt
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133000 USD
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437000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
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RetainedEarningsAccumulatedDeficit
652124000 USD
CY2017Q2 us-gaap Sales Revenue Net
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263002000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
482869000 USD
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
308007000 USD
us-gaap Sales Revenue Net
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552786000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
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28646000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
58283000 USD
CY2018Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
29201000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
56774000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
6020000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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-5155000 USD
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-187000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-5111000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
412000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
465000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1297000 USD
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
695000 USD
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25400000 USD
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275000000 USD
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StockholdersEquity
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CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
903802000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
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57.15
CY2017 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
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us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
0 USD
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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CY2017Q2 us-gaap Treasury Stock Value
TreasuryStockValue
17544000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
40000000 USD
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
440000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
20000000 USD
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
50000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
25439000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47922000 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46677000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46842000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47634000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47634000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46323000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46468000 shares

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