2024 Q1 Form 10-K Financial Statement

#000081676124000023 Filed on February 23, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $465.0M $457.0M $1.833B
YoY Change -2.31% 1.11% 2.12%
Cost Of Revenue $181.0M $179.0M $718.0M
YoY Change 4.02% -5.29% 0.56%
Gross Profit $284.0M $278.0M $1.115B
YoY Change -5.96% 5.7% 3.15%
Gross Profit Margin 61.08% 60.83% 60.83%
Selling, General & Admin $161.0M $159.0M $635.0M
YoY Change 5.23% -9.14% -2.31%
% of Gross Profit 56.69% 57.19% 56.95%
Research & Development $75.00M $72.00M $294.0M
YoY Change 7.14% -6.49% -6.07%
% of Gross Profit 26.41% 25.9% 26.37%
Depreciation & Amortization $27.00M $30.00M $116.0M
YoY Change -3.57% -9.09% -8.66%
% of Gross Profit 9.51% 10.79% 10.4%
Operating Expenses $236.0M $231.0M $929.0M
YoY Change 5.83% -8.33% -3.53%
Operating Profit $48.00M $47.00M $186.0M
YoY Change -39.24% 327.27% 57.63%
Interest Expense $8.000M -$10.00M $30.00M
YoY Change 14.29% 900.0% 25.0%
% of Operating Profit 16.67% -21.28% 16.13%
Other Income/Expense, Net -$16.00M -$25.00M -$69.00M
YoY Change -23.81% 177.78% -264.29%
Pretax Income $32.00M $22.00M $117.0M
YoY Change -44.83% 1000.0% 74.63%
Income Tax $12.00M $29.00M $55.00M
% Of Pretax Income 37.5% 131.82% 47.01%
Net Earnings $20.00M -$7.000M $62.00M
YoY Change -50.0% 0.0% 87.88%
Net Earnings / Revenue 4.3% -1.53% 3.38%
Basic Earnings Per Share $0.21 $0.62
Diluted Earnings Per Share $0.20 -$0.07 $0.61
COMMON SHARES
Basic Shares Outstanding 97.40M shares 97.80M shares 99.80M shares
Diluted Shares Outstanding 100.1M shares 102.4M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $337.0M $486.0M $486.0M
YoY Change -38.84% -14.59% -14.59%
Cash & Equivalents $337.0M $486.0M $486.0M
Short-Term Investments
Other Short-Term Assets $105.0M $84.00M $84.00M
YoY Change -1.87% -3.45% -3.45%
Inventory $16.00M $13.00M $13.00M
Prepaid Expenses
Receivables $311.0M $286.0M $286.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $769.0M $869.0M $869.0M
YoY Change -23.56% -15.47% -15.47%
LONG-TERM ASSETS
Property, Plant & Equipment $234.0M $248.0M $248.0M
YoY Change -11.03% -3.5% -3.5%
Goodwill $396.0M $398.0M
YoY Change 1.28% 2.05%
Intangibles $59.00M $68.00M
YoY Change -29.76% -26.09%
Long-Term Investments
YoY Change
Other Assets $83.00M $290.0M $290.0M
YoY Change 118.42% 590.48% 13.73%
Total Long-Term Assets $976.0M $1.004B $1.004B
YoY Change -0.41% 1.01% 1.01%
TOTAL ASSETS
Total Short-Term Assets $769.0M $869.0M $869.0M
Total Long-Term Assets $976.0M $1.004B $1.004B
Total Assets $1.745B $1.873B $1.873B
YoY Change -12.13% -7.37% -7.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.0M $100.0M $100.0M
YoY Change 29.35% 6.38% 6.38%
Accrued Expenses $97.00M $136.0M $136.0M
YoY Change -5.83% -6.21% -6.21%
Deferred Revenue $573.0M $570.0M
YoY Change -9.62% -3.23%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $25.00M $85.00M $85.00M
YoY Change 26.87%
Total Short-Term Liabilities $983.0M $996.0M $996.0M
YoY Change -1.6% -1.09% -1.09%
LONG-TERM LIABILITIES
Long-Term Debt $474.0M $543.0M $543.0M
YoY Change -4.82% 9.04% -1.63%
Other Long-Term Liabilities $58.00M $191.0M $191.0M
YoY Change -29.27% 141.77% -3.54%
Total Long-Term Liabilities $532.0M $734.0M $734.0M
YoY Change -8.28% 27.21% -2.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $983.0M $996.0M $996.0M
Total Long-Term Liabilities $532.0M $734.0M $734.0M
Total Liabilities $1.691B $1.738B $1.738B
YoY Change -3.7% -1.47% -1.47%
SHAREHOLDERS EQUITY
Retained Earnings -$1.918B -$1.811B
YoY Change 18.91% 15.72%
Common Stock $2.104B $2.075B
YoY Change 7.18% 6.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $54.00M $135.0M $135.0M
YoY Change
Total Liabilities & Shareholders Equity $1.745B $1.873B $1.873B
YoY Change -12.13% -7.37% -7.37%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $20.00M -$7.000M $62.00M
YoY Change -50.0% 0.0% 87.88%
Depreciation, Depletion And Amortization $27.00M $30.00M $116.0M
YoY Change -3.57% -9.09% -8.66%
Cash From Operating Activities $27.00M $176.0M $375.0M
YoY Change -75.23% 36.43% -10.5%
INVESTING ACTIVITIES
Capital Expenditures $6.000M $8.000M $20.00M
YoY Change 50.0% -11.11% 42.86%
Acquisitions
YoY Change
Other Investing Activities $2.000M -$13.00M -$29.00M
YoY Change 550.0% -1550.0%
Cash From Investing Activities -$8.000M -$21.00M -$49.00M
YoY Change 100.0% 90.91% 172.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$308.0M
YoY Change -179.59%
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -$150.0M -26.00M -383.0M
YoY Change 35.14% -57.38% 0.52%
NET CHANGE
Cash From Operating Activities $27.00M 176.0M 375.0M
Cash From Investing Activities -$8.000M -21.00M -49.00M
Cash From Financing Activities -$150.0M -26.00M -383.0M
Net Change In Cash -$148.0M 129.0M -57.00M
YoY Change 825.0% 126.32% 137.5%
FREE CASH FLOW
Cash From Operating Activities $27.00M $176.0M $375.0M
Capital Expenditures $6.000M $8.000M $20.00M
Free Cash Flow $21.00M $168.0M $355.0M
YoY Change -80.0% 40.0% -12.35%

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