2015 Q4 Form 10-Q Financial Statement

#000162828015007872 Filed on October 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $343.6M $336.9M $377.0M
YoY Change -10.71% -10.64% 0.96%
Cost Of Revenue $274.0M $266.3M $292.7M
YoY Change -16.0% -9.02% -2.34%
Gross Profit $36.30M $44.30M $60.70M
YoY Change 11.01% -27.02% 11.17%
Gross Profit Margin 10.56% 13.15% 16.1%
Selling, General & Admin $14.00M $21.90M $19.20M
YoY Change -90.12% 14.06% -16.88%
% of Gross Profit 38.57% 49.44% 31.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $33.30M $25.60M $22.80M
YoY Change 28.57% 12.28% -1.72%
% of Gross Profit 91.74% 57.79% 37.56%
Operating Expenses $47.30M $21.90M $19.20M
YoY Change -71.78% 14.06% -16.88%
Operating Profit -$11.00M $23.10M $25.90M
YoY Change -91.85% -10.81% -18.55%
Interest Expense -$5.800M $14.60M $11.90M
YoY Change -52.07% 22.69% -1.65%
% of Operating Profit 63.2% 45.95%
Other Income/Expense, Net
YoY Change
Pretax Income $19.00M $8.500M $14.00M
YoY Change -156.38% -39.29% -28.93%
Income Tax -$13.90M $4.800M $6.100M
% Of Pretax Income -73.16% 56.47% 43.57%
Net Earnings $19.00M -$23.50M -$3.600M
YoY Change -129.01% 552.78% -158.06%
Net Earnings / Revenue 5.53% -6.98% -0.95%
Basic Earnings Per Share $0.30 -$0.36 -$0.05
Diluted Earnings Per Share $0.30 -$0.36 -$0.05
COMMON SHARES
Basic Shares Outstanding 63.99M shares 64.50M shares 69.40M shares
Diluted Shares Outstanding 64.50M shares 69.40M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.4M $103.2M $114.8M
YoY Change -11.22% -10.1% -57.29%
Cash & Equivalents $123.4M $103.2M $114.8M
Short-Term Investments
Other Short-Term Assets $3.900M $5.000M $4.400M
YoY Change 8.33% 13.64% 69.23%
Inventory $121.8M $124.6M $139.2M
Prepaid Expenses
Receivables $64.60M $76.30M $64.00M
Other Receivables $11.60M $11.00M $3.200M
Total Short-Term Assets $326.2M $338.6M $391.8M
YoY Change -11.6% -13.58% -17.6%
LONG-TERM ASSETS
Property, Plant & Equipment $1.582B $1.597B $1.476B
YoY Change 6.89% 8.21% 1.7%
Goodwill $71.10M $72.50M
YoY Change 512.93%
Intangibles $190.2M $193.2M
YoY Change 1728.85%
Long-Term Investments $0.00 $0.00 $55.60M
YoY Change -100.0% -100.0% 5.9%
Other Assets $15.40M $16.00M $42.80M
YoY Change -38.15% -62.62% 4.65%
Total Long-Term Assets $1.929B $1.942B $1.594B
YoY Change 21.29% 21.8% -9.85%
TOTAL ASSETS
Total Short-Term Assets $326.2M $338.6M $391.8M
Total Long-Term Assets $1.929B $1.942B $1.594B
Total Assets $2.256B $2.280B $1.986B
YoY Change 15.09% 14.82% -11.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $99.80M $107.8M $105.3M
YoY Change -17.72% 2.37% -16.3%
Accrued Expenses $42.90M $49.80M $42.90M
YoY Change -39.83% 16.08% -29.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.100M $1.100M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $165.7M $167.8M $184.4M
YoY Change -22.02% -9.0% -5.58%
LONG-TERM LIABILITIES
Long-Term Debt $997.7M $998.0M $652.0M
YoY Change 57.49% 53.07% 0.57%
Other Long-Term Liabilities $22.10M $21.90M $16.00M
YoY Change 30.77% 36.88% -10.61%
Total Long-Term Liabilities $1.020B $1.020B $668.0M
YoY Change 56.8% 52.68% 0.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $165.7M $167.8M $184.4M
Total Long-Term Liabilities $1.020B $1.020B $668.0M
Total Liabilities $1.633B $1.666B $1.248B
YoY Change 30.17% 33.46% -5.12%
SHAREHOLDERS EQUITY
Retained Earnings -$36.40M -$45.50M $83.20M
YoY Change -361.87% -154.69% -37.35%
Common Stock $700.0K $700.0K $700.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $140.7M $140.7M $30.00M
YoY Change 34.0% 369.0% 50.75%
Treasury Stock Shares 7.478M shares 7.478M shares 1.755M shares
Shareholders Equity $289.9M $280.3M $504.6M
YoY Change
Total Liabilities & Shareholders Equity $2.256B $2.280B $2.026B
YoY Change 15.09% 12.57% -4.56%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $19.00M -$23.50M -$3.600M
YoY Change -129.01% 552.78% -158.06%
Depreciation, Depletion And Amortization $33.30M $25.60M $22.80M
YoY Change 28.57% 12.28% -1.72%
Cash From Operating Activities $58.10M $6.400M $33.10M
YoY Change 7.79% -80.66% -2464.29%
INVESTING ACTIVITIES
Capital Expenditures -$26.50M -$26.80M -$29.40M
YoY Change 47.22% -8.84% 13.95%
Acquisitions
YoY Change
Other Investing Activities $5.200M -$214.6M $0.00
YoY Change -100.0%
Cash From Investing Activities -$21.30M -$241.4M -$29.40M
YoY Change 18.33% 721.09% -53.18%
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 136.5M -93.30M
YoY Change 41.88% -246.3% 517.88%
NET CHANGE
Cash From Operating Activities 58.10M 6.400M 33.10M
Cash From Investing Activities -21.30M -241.4M -29.40M
Cash From Financing Activities -16.60M 136.5M -93.30M
Net Change In Cash 20.20M -98.50M -89.60M
YoY Change -16.53% 9.93% 12.99%
FREE CASH FLOW
Cash From Operating Activities $58.10M $6.400M $33.10M
Capital Expenditures -$26.50M -$26.80M -$29.40M
Free Cash Flow $84.60M $33.20M $62.50M
YoY Change 17.66% -46.88% 156.15%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Transition Asset Obligation Tax
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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ShareBasedCompensation
7600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5800000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-1000000 USD
CY2014Q3 us-gaap Sales Revenue From Energy Commodities And Services
SalesRevenueFromEnergyCommoditiesAndServices
16200000 USD
CY2014Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
150000000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1105900000 USD
CY2015Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
39400000 USD
CY2015Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1300000 shares
CY2015Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
15600000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
35700000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
431700000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
280300000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
705400000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
614400000 USD
CY2014Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
0 USD
CY2015Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
0 USD
CY2015Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
16.89
CY2014Q3 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
11.87
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
4977115 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
7477657 shares
CY2014Q4 us-gaap Treasury Stock Value
TreasuryStockValue
105000000 USD
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
140700000 USD
CY2014Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
18000000 USD
CY2015Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
19100000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69500000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
64500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65300000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69400000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69500000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64500000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65300000 shares

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