2016 Q1 Form 10-Q Financial Statement
#000156459016017666 Filed on May 04, 2016
Income Statement
| Concept | 2016 Q1 | 2015 Q1 |
|---|---|---|
| Revenue | $402.5M | $477.6M |
| YoY Change | -15.72% | 133.81% |
| Cost Of Revenue | $258.1M | $313.3M |
| YoY Change | -17.61% | 180.09% |
| Gross Profit | $144.4M | $164.3M |
| YoY Change | -12.14% | 77.8% |
| Gross Profit Margin | 35.88% | 34.41% |
| Selling, General & Admin | $43.60M | $35.80M |
| YoY Change | 21.78% | 38.47% |
| % of Gross Profit | 30.19% | 21.79% |
| Research & Development | $73.90M | $78.72M |
| YoY Change | -6.12% | 59.31% |
| % of Gross Profit | 51.18% | 47.9% |
| Depreciation & Amortization | $25.60M | $26.10M |
| YoY Change | -1.92% | 307.81% |
| % of Gross Profit | 17.73% | 15.88% |
| Operating Expenses | $123.3M | $112.5M |
| YoY Change | 9.61% | -12.51% |
| Operating Profit | $21.10M | $51.85M |
| YoY Change | -59.31% | -243.47% |
| Interest Expense | $800.0K | $1.317M |
| YoY Change | -39.26% | 163.4% |
| % of Operating Profit | 3.79% | 2.54% |
| Other Income/Expense, Net | $800.0K | |
| YoY Change | ||
| Pretax Income | $21.90M | $50.89M |
| YoY Change | -56.96% | -242.83% |
| Income Tax | $1.400M | $19.41M |
| % Of Pretax Income | 6.39% | 38.14% |
| Net Earnings | $20.50M | $31.48M |
| YoY Change | -34.88% | -178.58% |
| Net Earnings / Revenue | 5.09% | 6.59% |
| Basic Earnings Per Share | $0.86 | |
| Diluted Earnings Per Share | $540.9K | $0.82 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 36.73M | |
| Diluted Shares Outstanding | 38.54M |
Balance Sheet
| Concept | 2016 Q1 | 2015 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $406.1M | $380.6M |
| YoY Change | 6.7% | -2.78% |
| Cash & Equivalents | $406.1M | $380.6M |
| Short-Term Investments | ||
| Other Short-Term Assets | $48.50M | $27.60M |
| YoY Change | 75.72% | 20.0% |
| Inventory | $132.7M | $152.3M |
| Prepaid Expenses | ||
| Receivables | $320.0M | $319.6M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $907.3M | $880.0M |
| YoY Change | 3.1% | 38.73% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $113.9M | $117.7M |
| YoY Change | -3.22% | 52.86% |
| Goodwill | $215.2M | |
| YoY Change | 252.69% | |
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $37.10M | $43.88M |
| YoY Change | -15.46% | 129.78% |
| Total Long-Term Assets | $542.2M | $631.2M |
| YoY Change | -14.1% | 142.35% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $907.3M | $880.0M |
| Total Long-Term Assets | $542.2M | $631.2M |
| Total Assets | $1.450B | $1.511B |
| YoY Change | -4.08% | 68.89% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $153.7M | $182.0M |
| YoY Change | -15.56% | 137.34% |
| Accrued Expenses | $115.8M | $129.1M |
| YoY Change | -10.3% | 90.98% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $15.00M | $9.375M |
| YoY Change | 60.0% | |
| Total Short-Term Liabilities | $357.3M | $397.6M |
| YoY Change | -10.14% | 108.3% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $220.2M | $234.6M |
| YoY Change | -6.13% | |
| Other Long-Term Liabilities | $49.20M | $14.63M |
| YoY Change | 236.2% | -80.57% |
| Total Long-Term Liabilities | $269.4M | $249.2M |
| YoY Change | 8.1% | 230.9% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $357.3M | $397.6M |
| Total Long-Term Liabilities | $269.4M | $249.2M |
| Total Liabilities | $648.7M | $762.9M |
| YoY Change | -14.97% | 186.59% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $561.7M | |
| YoY Change | 25.33% | |
| Common Stock | $819.5M | |
| YoY Change | 16.55% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $641.0M | |
| YoY Change | 20.85% | |
| Treasury Stock Shares | $20.59M | |
| Shareholders Equity | $800.8M | $748.3M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.450B | $1.511B |
| YoY Change | -4.08% | 68.89% |
Cashflow Statement
| Concept | 2016 Q1 | 2015 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $20.50M | $31.48M |
| YoY Change | -34.88% | -178.58% |
| Depreciation, Depletion And Amortization | $25.60M | $26.10M |
| YoY Change | -1.92% | 307.81% |
| Cash From Operating Activities | $36.60M | $128.1M |
| YoY Change | -71.43% | 2316.98% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$4.800M | -$6.600M |
| YoY Change | -27.27% | -56.58% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | -$500.0K |
| YoY Change | -100.0% | |
| Cash From Investing Activities | -$4.800M | -$7.000M |
| YoY Change | -31.43% | -53.64% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -1.700M | -68.30M |
| YoY Change | -97.51% | -314.11% |
| NET CHANGE | ||
| Cash From Operating Activities | 36.60M | 128.1M |
| Cash From Investing Activities | -4.800M | -7.000M |
| Cash From Financing Activities | -1.700M | -68.30M |
| Net Change In Cash | 30.10M | 52.80M |
| YoY Change | -42.99% | 138.91% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $36.60M | $128.1M |
| Capital Expenditures | -$4.800M | -$6.600M |
| Free Cash Flow | $41.40M | $134.7M |
| YoY Change | -69.27% | 557.07% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
31800000 | ||
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
33.50 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
40900000 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
29.77 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
70.40 | ||
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
45.27 | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
83900000 | |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
80200000 | |
| us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
400000 | ||
| us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
13200000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
94400000 | ||
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
|
-3300000 | ||
| CY2016Q1 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
4000000 | |
| CY2015Q1 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
3200000 | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-66600000 | ||
| CY2015Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
380600000 | |
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
41900000 | ||
| us-gaap |
Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
|
10800000 | ||
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
4800000 | ||
| us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
1900000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
110600000 | ||
| us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
24500000 | ||
| us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
245400000 | ||
| syna |
Payment For Payroll Taxes For Deferred Stock And Market Stock Units
PaymentForPayrollTaxesForDeferredStockAndMarketStockUnits
|
12000000 | ||
| us-gaap |
Stock Issued1
StockIssued1
|
21500000 | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, allowance for doubtful accounts, cost of revenue, inventories, loss on purchase commitments, product warranty, accrued liabilities, share-based compensation costs, provision for income taxes, deferred income tax asset valuation allowances, uncertain tax positions, goodwill, intangible assets, investments, contingent consideration liability and loss contingencies. We base our estimates on historical experience, applicable laws and regulations, and various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. </p></div> | ||
| syna |
Foreign Currency Transaction Realized And Unrealized Gain Loss Net Of Tax
ForeignCurrencyTransactionRealizedAndUnrealizedGainLossNetOfTax
|
14100000 | ||
| CY2016Q1 | syna |
Auction Rate Securities With Fair Value Having No Stated Maturity
AuctionRateSecuritiesWithFairValueHavingNoStatedMaturity
|
1500000 | |
| syna |
Auction Rate Securities Maturing Year Of Specified Amount One
AuctionRateSecuritiesMaturingYearOfSpecifiedAmountOne
|
2018 | ||
| CY2016Q1 | syna |
Accumulated Accretion On Investment Securities
AccumulatedAccretionOnInvestmentSecurities
|
4100000 | |
| CY2015Q2 | syna |
Accumulated Accretion On Investment Securities
AccumulatedAccretionOnInvestmentSecurities
|
2700000 | |
| CY2016Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
52700000 | |
| CY2016Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
80000000 | |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
324900000 | |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
140500000 | |
| us-gaap |
Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
|
P4Y3M18D | ||
| CY2016Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
17700000 | |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
49800000 | |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
35400000 | |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
11900000 | |
| CY2016Q1 | syna |
Finite Lived Intangible Assets Amortization Expense Year Six
FiniteLivedIntangibleAssetsAmortizationExpenseYearSix
|
3900000 | |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
17700000 | |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
61200000 | |
| CY2016Q1 | syna |
Finite Lived Intangible Assets Amortization Expense After Year Six
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearSix
|
4300000 | |
| CY2016Q1 | syna |
Finite Lived Intangible Assets Amortization Expense To Be Determined
FiniteLivedIntangibleAssetsAmortizationExpenseToBeDetermined
|
200000 | |
| CY2016Q1 | us-gaap |
Liabilities Fair Value Disclosure Recurring
LiabilitiesFairValueDisclosureRecurring
|
25500000 | |
| syna |
Percentage Of Voting Capital Stock Of Certain Foreign Subsidiaries Collateralized
PercentageOfVotingCapitalStockOfCertainForeignSubsidiariesCollateralized
|
0.65 | ||
| us-gaap |
Line Of Credit Facility Frequency Of Payments
LineOfCreditFacilityFrequencyOfPayments
|
The term loan facility requires repayment over five years with nineteen quarterly principal payments which began in the three months ending March 31, 2015. | ||
| us-gaap |
Line Of Credit Facility Date Of First Required Payment1
LineOfCreditFacilityDateOfFirstRequiredPayment1
|
2015-03-31 | ||
| syna |
Line Of Credit Facility Final Principal Payment
LineOfCreditFacilityFinalPrincipalPayment
|
90000000 | ||
| CY2016Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
238800000 | |
| CY2016Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
15000000 | |
| CY2015Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
11600000 | |
| us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
10800000 | ||
| us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
8900000 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
338251 | ||
| us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
499351 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
17954 | ||
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2691371 | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1932151 | |
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
81.18 | ||
| CY2015Q1 | syna |
Provision For Income Taxes Excluding Impact For Contingent Consideration
ProvisionForIncomeTaxesExcludingImpactForContingentConsideration
|
18900000 | |
| CY2016Q1 | syna |
Federal Research And Development Credits
FederalResearchAndDevelopmentCredits
|
1400000 | |
| syna |
Federal Research And Development Credits
FederalResearchAndDevelopmentCredits
|
4500000 | ||
| syna |
Provision For Income Taxes Excluding Impact For Contingent Consideration
ProvisionForIncomeTaxesExcludingImpactForContingentConsideration
|
39900000 | ||
| CY2016Q1 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
14500000 | |
| CY2015Q2 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
11600000 | |
| us-gaap |
Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
|
2900000 | ||
| CY2016Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
1500000 | |
| syna |
Increase In Unrecognized Tax Benefit Income Tax Penalties And Interest Accrued
IncreaseInUnrecognizedTaxBenefitIncomeTaxPenaltiesAndInterestAccrued
|
400000 | ||
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
| syna |
Number Of Product Categories
NumberOfProductCategories
|
2 |
