2020 Q2 Form 10-Q Financial Statement

#000092037120000113 Filed on August 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $326.1M $304.9M $259.2M
YoY Change 6.96% -1.02% 5.91%
Cost Of Revenue $176.3M $170.7M $149.0M
YoY Change 3.28% 1.93% 8.63%
Gross Profit $149.8M $134.2M $110.3M
YoY Change 11.64% -4.54% 2.44%
Gross Profit Margin 45.94% 44.01% 42.53%
Selling, General & Admin $65.47M $70.03M $67.66M
YoY Change -6.51% 2.98% 4.14%
% of Gross Profit 43.7% 52.19% 61.37%
Research & Development $12.20M $11.10M $12.30M
YoY Change 9.91% -0.89% 9.82%
% of Gross Profit 8.14% 8.27% 11.16%
Depreciation & Amortization $10.00M $9.700M $9.758M
YoY Change 3.09% -2.02% 0.72%
% of Gross Profit 6.68% 7.23% 8.85%
Operating Expenses $77.66M $81.09M $79.92M
YoY Change -4.23% 2.31% 4.99%
Operating Profit $72.21M $53.65M $30.02M
YoY Change 34.59% -12.66% -8.14%
Interest Expense -$200.0K $100.0K -$800.0K
YoY Change -300.0% -150.0% 700.0%
% of Operating Profit -0.28% 0.19% -2.66%
Other Income/Expense, Net -$151.0K $147.0K -$763.0K
YoY Change -202.72%
Pretax Income $72.06M $53.80M $29.26M
YoY Change 33.94% -11.17% -10.47%
Income Tax $18.58M $14.22M $6.598M
% Of Pretax Income 25.79% 26.44% 22.55%
Net Earnings $53.48M $39.58M $22.66M
YoY Change 35.13% -10.23% -10.88%
Net Earnings / Revenue 16.4% 12.98% 8.74%
Basic Earnings Per Share $1.23 $0.89 $0.51
Diluted Earnings Per Share $1.22 $0.88 $0.50
COMMON SHARES
Basic Shares Outstanding 43.47M shares 44.67M shares 44.87M shares
Diluted Shares Outstanding 43.66M shares 44.97M shares 45.21M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $315.4M $141.7M $113.4M
YoY Change 122.58% -8.58% -17.47%
Cash & Equivalents $315.4M $141.7M $113.4M
Short-Term Investments
Other Short-Term Assets $20.22M $14.80M $14.19M
YoY Change 36.68% -6.19% -36.73%
Inventory $265.4M $266.1M $272.5M
Prepaid Expenses
Receivables $233.9M $191.3M $173.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $834.9M $614.0M $575.7M
YoY Change 35.99% -4.1% -1.34%
LONG-TERM ASSETS
Property, Plant & Equipment $247.1M $252.7M $251.4M
YoY Change -2.21% -6.1% -8.95%
Goodwill $132.3M $132.3M $131.7M
YoY Change 0.02% -3.0% -4.57%
Intangibles $22.14M $22.99M $24.15M
YoY Change -3.71% -14.09% -14.68%
Long-Term Investments $2.483M $2.498M $2.511M
YoY Change -0.6% -1.19% -0.55%
Other Assets $11.08M $10.35M $10.52M
YoY Change 7.08% -5.14% -11.15%
Total Long-Term Assets $449.6M $456.0M $454.6M
YoY Change -1.4% 2.3% -0.48%
TOTAL ASSETS
Total Short-Term Assets $834.9M $614.0M $575.7M
Total Long-Term Assets $449.6M $456.0M $454.6M
Total Assets $1.285B $1.070B $1.030B
YoY Change 20.06% -1.47% -0.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.15M $39.24M $35.55M
YoY Change 25.25% -18.22% -15.56%
Accrued Expenses $143.3M $118.0M $115.0M
YoY Change 21.44% -1.67% 13.74%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $1.100M $1.100M
YoY Change -9.09% 0.0% 0.0%
Total Short-Term Liabilities $193.4M $157.2M $150.6M
YoY Change 23.0% -6.4% 5.13%
LONG-TERM LIABILITIES
Long-Term Debt $150.0M $1.000M $1.300M
YoY Change 14900.0% -54.55% -45.83%
Other Long-Term Liabilities $28.90M $28.20M $28.90M
YoY Change 2.48%
Total Long-Term Liabilities $178.9M $16.09M $15.42M
YoY Change 1011.73% 14.18% -14.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $193.4M $157.2M $150.6M
Total Long-Term Liabilities $178.9M $16.09M $15.42M
Total Liabilities $390.3M $201.5M $194.9M
YoY Change 93.7% 10.66% 20.83%
SHAREHOLDERS EQUITY
Retained Earnings $716.0M $615.9M $641.2M
YoY Change 16.25% -5.55% -7.51%
Common Stock $278.1M $277.5M $275.3M
YoY Change 0.22% 1.94% 2.16%
Preferred Stock
YoY Change
Treasury Stock (at cost) $72.06M $0.00 $55.00M
YoY Change -100.0% -26.67%
Treasury Stock Shares
Shareholders Equity $894.2M $868.4M $835.4M
YoY Change
Total Liabilities & Shareholders Equity $1.285B $1.070B $1.030B
YoY Change 20.06% -1.47% -0.96%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $53.48M $39.58M $22.66M
YoY Change 35.13% -10.23% -10.88%
Depreciation, Depletion And Amortization $10.00M $9.700M $9.758M
YoY Change 3.09% -2.02% 0.72%
Cash From Operating Activities $30.10M $44.00M $9.648M
YoY Change -31.59% 14.88% -43.58%
INVESTING ACTIVITIES
Capital Expenditures -$7.300M -$7.900M $7.352M
YoY Change -7.59% -2.47% -32.77%
Acquisitions $3.492M
YoY Change
Other Investing Activities $0.00 $2.500M -$3.500M
YoY Change -100.0% 212.5% -391.67%
Cash From Investing Activities -$7.200M -$5.500M -$10.81M
YoY Change 30.91% -24.66% 11.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $30.00M
YoY Change 20.0%
Debt Paid & Issued, Net $6.459M
YoY Change 3612.07%
Cash From Financing Activities -10.90M -10.10M -$45.47M
YoY Change 7.92% -3.81% 15.69%
NET CHANGE
Cash From Operating Activities 30.10M 44.00M $9.648M
Cash From Investing Activities -7.200M -5.500M -$10.81M
Cash From Financing Activities -10.90M -10.10M -$45.47M
Net Change In Cash 12.00M 28.40M -$46.77M
YoY Change -57.75% 38.54% 46.62%
FREE CASH FLOW
Cash From Operating Activities $30.10M $44.00M $9.648M
Capital Expenditures -$7.300M -$7.900M $7.352M
Free Cash Flow $37.40M $51.90M $2.296M
YoY Change -27.94% 11.85% -62.76%

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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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4830000 USD
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28000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
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4797000 USD
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1363000 USD
CY2019Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
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2224000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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us-gaap Share Based Compensation
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1932000 USD
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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P2Y7M6D
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CY2019Q2 ssd Property Plant And Equipment Excluding Capital Projects In Progress
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CY2020Q2 ssd Finite Lived Intangible Assets Amortization Expenseafter Year Six
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CY2020Q2 ssd Finance Lease Right Of Use Asset Gross
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3569000 USD
CY2019Q2 ssd Finance Lease Right Of Use Asset Gross
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3569000 USD
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35111000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
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35436000 USD
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CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6647000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7392000 USD
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28893000 USD
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28164000 USD
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
27930000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
36992000 USD
CY2019Q4 ssd Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
3569000 USD
CY2019Q2 ssd Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
2417000 USD
CY2019Q4 ssd Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
2739000 USD
CY2020Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
616000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1152000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
830000 USD
CY2020Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
998000 USD
CY2019Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1107000 USD
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1125000 USD
CY2020Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 USD
CY2019Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1047000 USD
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
386000 USD
CY2020Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
998000 USD
CY2019Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
2154000 USD
CY2019Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1511000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2625000 USD
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
2272000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
5051000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
4426000 USD
CY2020Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
218000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
218000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
436000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
436000 USD
CY2020Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9000 USD
CY2019Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
18000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
21000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
38000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
227000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
236000 USD
us-gaap Lease Cost
LeaseCost
457000 USD
us-gaap Lease Cost
LeaseCost
474000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
2506000 USD
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
2214000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
4857000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
4305000 USD
CY2020Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
290000 USD
CY2019Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
290000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
580000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
580000 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4510000 USD
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1718000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7112000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2211000 USD
CY2020Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
580000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5112000 USD
CY2020Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
433000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9191000 USD
CY2020Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7108000 USD
CY2020Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5088000 USD
CY2020Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3956000 USD
CY2020Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
13740000 USD
CY2020Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1013000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
44195000 USD
CY2020Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
15000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7203000 USD
CY2020Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
998000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
36992000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y7M2D
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y11M1D
CY2020Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0M28D
CY2019Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y11M4D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0536
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0537
CY2020Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0325
CY2019Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0322
CY2020Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
326076000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
304853000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
609744000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
564097000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
72212000 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
53653000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
121562000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
83676000 USD
CY2020Q2 us-gaap Assets
Assets
1284503000 USD
CY2019Q2 us-gaap Assets
Assets
1069918000 USD
CY2019Q4 us-gaap Assets
Assets
1095366000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
326076000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
304853000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
609744000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
564097000 USD

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