2016 Q3 Form 10-Q Financial Statement

#000154934616000060 Filed on November 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2015 Q3
Revenue $123.1M $107.3M
YoY Change 14.74% 28.1%
Cost Of Revenue $50.18M $44.51M
YoY Change 12.74% 33.83%
Gross Profit $72.89M $62.75M
YoY Change 16.16% 24.33%
Gross Profit Margin 59.22% 58.5%
Selling, General & Admin $50.00M $43.83M
YoY Change 14.06% 39.66%
% of Gross Profit 68.59% 69.86%
Research & Development $11.60M $10.83M
YoY Change 7.18% 9.7%
% of Gross Profit 15.92% 17.25%
Depreciation & Amortization $3.900M $2.600M
YoY Change 50.0% 32.79%
% of Gross Profit 5.35% 4.14%
Operating Expenses $61.60M $54.66M
YoY Change 12.7% 32.49%
Operating Profit $11.29M $8.087M
YoY Change 39.58% -12.22%
Interest Expense $40.00K $17.00K
YoY Change 135.29% -15.0%
% of Operating Profit 0.35% 0.21%
Other Income/Expense, Net $102.0K -$767.0K
YoY Change -113.3% 105.63%
Pretax Income $11.39M $7.320M
YoY Change 55.6% -17.19%
Income Tax $1.999M $3.217M
% Of Pretax Income 17.55% 43.95%
Net Earnings $9.391M $4.103M
YoY Change 128.88% -22.26%
Net Earnings / Revenue 7.63% 3.83%
Basic Earnings Per Share $0.27 $0.11
Diluted Earnings Per Share $0.26 $0.11
COMMON SHARES
Basic Shares Outstanding 35.04M shares 36.04M shares
Diluted Shares Outstanding 35.82M shares 36.27M shares

Balance Sheet

Concept 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.4M $282.1M
YoY Change 2.94% 8.29%
Cash & Equivalents $238.0M $229.6M
Short-Term Investments $52.41M $52.49M
Other Short-Term Assets $23.30M $18.60M
YoY Change 25.27% -4.12%
Inventory
Prepaid Expenses
Receivables $34.06M $25.63M
Other Receivables $4.200M $4.000M
Total Short-Term Assets $351.9M $330.2M
YoY Change 6.56% 11.34%
LONG-TERM ASSETS
Property, Plant & Equipment $49.81M $29.88M
YoY Change 66.73% 13.17%
Goodwill $50.52M $52.17M
YoY Change -3.16%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.807M $1.913M
YoY Change 46.73% -89.43%
Total Long-Term Assets $155.4M $134.8M
YoY Change 15.33% 126.88%
TOTAL ASSETS
Total Short-Term Assets $351.9M $330.2M
Total Long-Term Assets $155.4M $134.8M
Total Assets $507.3M $465.0M
YoY Change 9.1% 30.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.30M $9.045M
YoY Change 69.19% 58.68%
Accrued Expenses $39.13M $27.96M
YoY Change 39.93% 54.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $202.8M $154.8M
YoY Change 30.98% 35.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $8.967M $13.23M
YoY Change -32.24% 13.11%
Total Long-Term Liabilities $8.967M $13.23M
YoY Change -32.24% 13.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $202.8M $154.8M
Total Long-Term Liabilities $8.967M $13.23M
Total Liabilities $214.0M $172.1M
YoY Change 24.33% 36.81%
SHAREHOLDERS EQUITY
Retained Earnings $119.2M $89.57M
YoY Change 33.09%
Common Stock $244.7M $207.2M
YoY Change 18.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $59.73M
YoY Change
Treasury Stock Shares 1.739M shares
Shareholders Equity $293.3M $292.9M
YoY Change
Total Liabilities & Shareholders Equity $507.3M $465.0M
YoY Change 9.1% 30.62%

Cashflow Statement

Concept 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income $9.391M $4.103M
YoY Change 128.88% -22.26%
Depreciation, Depletion And Amortization $3.900M $2.600M
YoY Change 50.0% 32.79%
Cash From Operating Activities $34.60M $19.30M
YoY Change 79.27% -14.98%
INVESTING ACTIVITIES
Capital Expenditures -$10.40M -$3.800M
YoY Change 173.68% 153.33%
Acquisitions
YoY Change
Other Investing Activities -$2.100M $1.900M
YoY Change -210.53% -63.46%
Cash From Investing Activities -$12.50M -$2.000M
YoY Change 525.0% -154.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.700M 1.300M
YoY Change 338.46% -63.89%
NET CHANGE
Cash From Operating Activities 34.60M 19.30M
Cash From Investing Activities -12.50M -2.000M
Cash From Financing Activities 5.700M 1.300M
Net Change In Cash 27.80M 18.60M
YoY Change 49.46% -38.0%
FREE CASH FLOW
Cash From Operating Activities $34.60M $19.30M
Capital Expenditures -$10.40M -$3.800M
Free Cash Flow $45.00M $23.10M
YoY Change 94.81% -4.55%

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7320000 USD
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22603000 USD
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11390000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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15546000 USD
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18490000 USD
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19443000 USD
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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2882000 USD
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2589000 USD
us-gaap Increase Decrease In Royalties Payable
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2015Q3 us-gaap Interest Income Expense Nonoperating Net
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40000 USD
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113000 USD
CY2015Q3 us-gaap Lease And Rental Expense
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1200000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3600000 USD
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2100000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
5000000 USD
CY2016Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2600000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
180556000 USD
CY2016Q3 us-gaap Liabilities
Liabilities
213988000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
469121000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2016Q3 us-gaap Liabilities Current
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
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us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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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
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
59449000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
76736000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
9391000 USD
us-gaap Net Income Loss
NetIncomeLoss
22773000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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4103000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9391000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22773000 USD
CY2015Q4 us-gaap Noncurrent Assets
NoncurrentAssets
32094000 USD
CY2016Q3 us-gaap Noncurrent Assets
NoncurrentAssets
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CY2015Q3 us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
102000 USD
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OperatingIncomeLoss
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us-gaap Operating Income Loss
OperatingIncomeLoss
25989000 USD
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OperatingIncomeLoss
11288000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
32587000 USD
CY2016Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
83800000 USD
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OtherAccruedLiabilitiesCurrent
6602000 USD
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7895000 USD
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OtherAssetsNoncurrent
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CY2016Q3 us-gaap Other Assets Noncurrent
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2807000 USD
CY2016Q3 us-gaap Other Commitment
OtherCommitment
26900000 USD
CY2016Q3 us-gaap Other Commitment Due In Fifth Year
OtherCommitmentDueInFifthYear
3800000 USD
CY2016Q3 us-gaap Other Commitment Due In Fourth Year
OtherCommitmentDueInFourthYear
4000000 USD
CY2016Q3 us-gaap Other Commitment Due In Second Year
OtherCommitmentDueInSecondYear
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CY2016Q3 us-gaap Other Commitment Due In Third Year
OtherCommitmentDueInThirdYear
8100000 USD
CY2016Q3 us-gaap Other Commitments Future Minimum Payments Remainder Of Fiscal Year
OtherCommitmentsFutureMinimumPaymentsRemainderOfFiscalYear
1200000 USD
CY2015Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-3620000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-3240000 USD
CY2016Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-4641000 USD
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2015Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
13000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
30000 USD
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
34000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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252000 USD
CY2015Q4 us-gaap Other Liabilities Current
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15994000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
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8967000 USD
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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44916000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
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203469000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
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202282000 USD
us-gaap Payments To Acquire Businesses Gross
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62379000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9873000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26747000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
197100000 USD
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
2192000 USD
us-gaap Payments To Acquire Software
PaymentsToAcquireSoftware
6214000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11713000 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
16553000 USD
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
205851000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6881000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8235000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
54906000 USD
CY2016Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
77726000 USD
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PropertyPlantAndEquipmentNet
32094000 USD
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PropertyPlantAndEquipmentNet
49814000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1165000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3338000 USD
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10827000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
31700000 USD
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11604000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
34800000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
96437000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
22771000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
21110000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
288565000 USD
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StockholdersEquity
293345000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
119210000 USD
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
107260000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
309147000 USD
CY2016Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
123073000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
364144000 USD
CY2015Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
27393000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
79927000 USD
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
32977000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
91636000 USD
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
460000 shares
CY2016Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1739000 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
15635000 USD
CY2016Q3 us-gaap Treasury Stock Value
TreasuryStockValue
59728000 USD
CY2015Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
2000 USD
CY2016Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2016Q3 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
2300000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1000000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
1000000 USD
CY2016Q3 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1000000 USD
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
1200000 USD
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
681000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1538000 shares
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2097000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1940000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36270000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36269000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35824000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35855000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36040000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35848000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35036000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35123000 shares
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:12px;text-align:left;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:bold;text-decoration:none;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires the Company&#8217;s management to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the period. The Company evaluates its significant estimates on an ongoing basis, including, but not limited to allowance for doubtful accounts, sales refund reserve, accruals related to self-insurance, the fair value of goodwill, intangible assets and other long-lived assets, non-cash equity-based compensation, the fair value of contingent consideration, the provision for income taxes and the amount of certain non-income tax accruals. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.</font></div></div>

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