2015 Q2 Form 10-Q Financial Statement

#000162828015005787 Filed on July 31, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $531.9M $446.8M
YoY Change 19.04% -13.61%
Cost Of Revenue $19.58M $18.17M
YoY Change 7.74% -24.82%
Gross Profit $512.3M $428.7M
YoY Change 19.52% -13.06%
Gross Profit Margin 96.32% 95.93%
Selling, General & Admin $171.1M $151.3M
YoY Change 13.09% 3.35%
% of Gross Profit 33.4% 35.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.300M $5.100M
YoY Change 43.14% 21.43%
% of Gross Profit 1.42% 1.19%
Operating Expenses $500.4M $434.4M
YoY Change 15.19% -7.12%
Operating Profit $11.93M -$5.732M
YoY Change -308.11% -122.61%
Interest Expense $486.0K $883.0K
YoY Change -44.96% 34.6%
% of Operating Profit 4.07%
Other Income/Expense, Net
YoY Change
Pretax Income $31.03M $11.54M
YoY Change 169.0% -76.39%
Income Tax $10.41M $2.789M
% Of Pretax Income 33.54% 24.18%
Net Earnings $17.11M $6.279M
YoY Change 172.43% -76.66%
Net Earnings / Revenue 3.22% 1.41%
Basic Earnings Per Share $0.72 $0.28
Diluted Earnings Per Share $0.72 $0.27
COMMON SHARES
Basic Shares Outstanding 23.62M shares 22.48M shares
Diluted Shares Outstanding 23.80M shares 24.85M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $164.6M $150.4M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $76.42M $54.15M
YoY Change 41.11% 1.38%
Goodwill $253.2M $273.2M
YoY Change -7.3% 23.62%
Intangibles $22.68M $11.57M
YoY Change 95.99% 96.64%
Long-Term Investments $9.902M $10.37M
YoY Change -4.48% -1.87%
Other Assets $800.0K $2.100M
YoY Change -61.9% 110.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.340B $1.360B
YoY Change -1.5% 6.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $102.1M $109.0M
YoY Change -6.33% 8.13%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $102.1M $109.0M
YoY Change -6.33% 2.16%
LONG-TERM LIABILITIES
Long-Term Debt $82.70M $92.60M
YoY Change -10.69% 233.09%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $82.70M $92.60M
YoY Change -10.69% 233.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $102.1M $109.0M
Total Long-Term Liabilities $82.70M $92.60M
Total Liabilities $672.5M $696.4M
YoY Change -3.42% 9.15%
SHAREHOLDERS EQUITY
Retained Earnings $478.7M $446.5M
YoY Change 7.22% 5.92%
Common Stock $179.3M $192.6M
YoY Change -6.9% -0.77%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.666M $2.666M
YoY Change 0.0% 0.0%
Treasury Stock Shares 352.2K shares 352.2K shares
Shareholders Equity $658.9M $656.7M
YoY Change
Total Liabilities & Shareholders Equity $1.340B $1.360B
YoY Change -1.5% 6.9%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $17.11M $6.279M
YoY Change 172.43% -76.66%
Depreciation, Depletion And Amortization $7.300M $5.100M
YoY Change 43.14% 21.43%
Cash From Operating Activities $32.50M $17.60M
YoY Change 84.66% -62.15%
INVESTING ACTIVITIES
Capital Expenditures -$6.800M -$4.800M
YoY Change 41.67% 41.18%
Acquisitions
YoY Change
Other Investing Activities $1.900M -$40.50M
YoY Change -104.69% -1194.59%
Cash From Investing Activities -$4.900M -$45.30M
YoY Change -89.18% -22750.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.60M 55.60M
YoY Change -129.86% -1837.5%
NET CHANGE
Cash From Operating Activities 32.50M 17.60M
Cash From Investing Activities -4.900M -45.30M
Cash From Financing Activities -16.60M 55.60M
Net Change In Cash 11.00M 27.90M
YoY Change -60.57% -35.86%
FREE CASH FLOW
Cash From Operating Activities $32.50M $17.60M
Capital Expenditures -$6.800M -$4.800M
Free Cash Flow $39.30M $22.40M
YoY Change 75.45% -55.11%

Facts In Submission

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us-gaap Increase Decrease In Deferred Income Taxes
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Land
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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OtherComprehensiveIncomeLossBeforeTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Tax
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Minority Shareholders
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us-gaap Policyholder Benefits And Claims Incurred Net
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us-gaap Policyholder Benefits And Claims Incurred Net
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Provision For Doubtful Accounts
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224000 USD
us-gaap Provision For Doubtful Accounts
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605000 USD
us-gaap Repayments Of Notes Payable
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RetainedEarningsAccumulatedDeficit
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RetainedEarningsAccumulatedDeficit
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CY2014Q2 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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Revenues
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us-gaap Revenues
Revenues
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
3606000 USD
CY2014Q4 us-gaap Short Term Investments
ShortTermInvestments
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CY2015Q2 us-gaap Short Term Investments
ShortTermInvestments
22666000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
27793000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
700453000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
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CY2015Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
352161 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
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CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
2666000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22491000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23795000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23975000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22476000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22491000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23624000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23806000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:Tahoma,sans-serif;font-size:10pt;font-weight:bold;">Reclassifications.</font><font style="font-family:Tahoma,sans-serif;font-size:10pt;"> Certain amounts in the </font><font style="font-family:Tahoma,sans-serif;font-size:10pt;">2014</font><font style="font-family:Tahoma,sans-serif;font-size:10pt;"> interim financial statements have been reclassified for comparative purposes. Net income (loss) attributable to Stewart, as previously reported, was not affected.</font></div></div>

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