2017 Q3 Form 10-Q Financial Statement

#000140917117000062 Filed on September 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $268.9M $278.3M
YoY Change -3.4% -16.71%
Cost Of Revenue $216.1M $225.4M
YoY Change -4.14% -17.17%
Gross Profit $52.81M $52.93M
YoY Change -0.24% -14.72%
Gross Profit Margin 19.64% 19.02%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.200M $6.600M
YoY Change -6.06% -7.04%
% of Gross Profit 11.74% 12.47%
Operating Expenses $50.52M $51.49M
YoY Change -1.87% -7.04%
Operating Profit -$3.265M $1.422M
YoY Change -329.61% -79.05%
Interest Expense -$3.900M -$6.000M
YoY Change -35.0% -17.81%
% of Operating Profit -421.94%
Other Income/Expense, Net $682.0K $612.0K
YoY Change 11.44% -26.88%
Pretax Income -$7.210M -$4.375M
YoY Change 64.8% 213.4%
Income Tax -$2.024M -$1.847M
% Of Pretax Income
Net Earnings -$5.186M -$2.520M
YoY Change 105.79% -42100.0%
Net Earnings / Revenue -1.93% -0.91%
Basic Earnings Per Share -$0.24 -$0.12
Diluted Earnings Per Share -$0.24 -$0.12
COMMON SHARES
Basic Shares Outstanding 21.55M shares 21.21M shares
Diluted Shares Outstanding 21.55M shares 21.21M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.50M $51.10M
YoY Change 12.52% -46.44%
Cash & Equivalents $57.53M $51.09M
Short-Term Investments
Other Short-Term Assets $10.50M $6.100M
YoY Change 72.13% -82.52%
Inventory $517.5M $682.0M
Prepaid Expenses
Receivables $63.70M $60.10M
Other Receivables $6.000M $4.400M
Total Short-Term Assets $655.2M $803.7M
YoY Change -18.48% -25.77%
LONG-TERM ASSETS
Property, Plant & Equipment $160.6M $174.6M
YoY Change -8.01% -6.13%
Goodwill
YoY Change
Intangibles $4.960M $5.041M
YoY Change -1.61% -4.38%
Long-Term Investments
YoY Change
Other Assets $1.312M $1.432M
YoY Change -8.38% -77.94%
Total Long-Term Assets $167.2M $181.1M
YoY Change -7.65% -8.44%
TOTAL ASSETS
Total Short-Term Assets $655.2M $803.7M
Total Long-Term Assets $167.2M $181.1M
Total Assets $822.4M $984.8M
YoY Change -16.49% -23.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.33M $16.27M
YoY Change 0.41% -11.4%
Accrued Expenses $28.92M $30.49M
YoY Change -5.15% 1.42%
Deferred Revenue
YoY Change
Short-Term Debt $308.0M $430.8M
YoY Change -28.51% -30.47%
Long-Term Debt Due $1.500M $15.60M
YoY Change -90.38% 143.75%
Total Short-Term Liabilities $375.5M $507.3M
YoY Change -25.97% -26.74%
LONG-TERM LIABILITIES
Long-Term Debt $120.1M $134.5M
YoY Change -10.71% -23.49%
Other Long-Term Liabilities $8.769M $2.225M
YoY Change 294.11% -32.35%
Total Long-Term Liabilities $132.2M $147.8M
YoY Change -10.54% -32.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $375.5M $507.3M
Total Long-Term Liabilities $132.2M $147.8M
Total Liabilities $507.7M $655.0M
YoY Change -22.49% -28.09%
SHAREHOLDERS EQUITY
Retained Earnings $72.98M $93.32M
YoY Change -21.8% -28.83%
Common Stock $244.5M $240.7M
YoY Change 1.6% -0.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $314.7M $329.8M
YoY Change
Total Liabilities & Shareholders Equity $822.4M $984.8M
YoY Change -16.49% -23.09%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$5.186M -$2.520M
YoY Change 105.79% -42100.0%
Depreciation, Depletion And Amortization $6.200M $6.600M
YoY Change -6.06% -7.04%
Cash From Operating Activities $26.00M $85.30M
YoY Change -69.52% -50.2%
INVESTING ACTIVITIES
Capital Expenditures -$7.500M -$3.300M
YoY Change 127.27% 73.68%
Acquisitions
YoY Change
Other Investing Activities $1.900M $400.0K
YoY Change 375.0% -78.95%
Cash From Investing Activities -$5.700M -$2.900M
YoY Change 96.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -19.40M -94.80M
YoY Change -79.54% -47.45%
NET CHANGE
Cash From Operating Activities 26.00M 85.30M
Cash From Investing Activities -5.700M -2.900M
Cash From Financing Activities -19.40M -94.80M
Net Change In Cash 900.0K -12.40M
YoY Change -107.26% 36.26%
FREE CASH FLOW
Cash From Operating Activities $26.00M $85.30M
Capital Expenditures -$7.500M -$3.300M
Free Cash Flow $33.50M $88.60M
YoY Change -62.19% -48.85%

Facts In Submission

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us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
4375000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-95392000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-47574000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-3589000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-15363000 USD
CY2016Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-182000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-356000 USD
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-2469000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6087000 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5087000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10896000 USD
CY2017Q1 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
1373000 USD
CY2017Q3 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
1477000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
51487000 USD
us-gaap Operating Expenses
OperatingExpenses
105989000 USD
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
50523000 USD
us-gaap Operating Expenses
OperatingExpenses
102510000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1422000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
221000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
2948000 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
2156000 USD
CY2017Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
14901000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
25755000 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
2616000 USD
us-gaap Paid In Kind Interest
PaidInKindInterest
2139000 USD
CY2016Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
-51000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
-117000 USD
CY2017Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
-99000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
-222000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
66000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-78000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3265000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-8677000 USD
CY2017Q1 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
3600000 USD
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1359000 USD
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1312000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-435000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
319000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
930000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1391000 USD
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-432000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
458000 USD
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1034000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2012000 USD
CY2016Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
11331000 USD
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
20218000 USD
CY2017Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
10788000 USD
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
19319000 USD
CY2017Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
5180000 USD
CY2017Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8769000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-187000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
536000 USD
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
612000 USD
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
682000 USD
CY2016Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
15400000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
26885000 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
10222000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2750000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7472000 USD
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10989000 USD
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10465000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
33000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-56000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-482000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1383000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2253000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
-2702000 USD
CY2016Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
31296000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
62288000 USD
CY2017Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
30509000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
59275000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1205000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1732000 USD
us-gaap Profit Loss
ProfitLoss
-6560000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
-5186000 USD
us-gaap Profit Loss
ProfitLoss
-11118000 USD
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
282412000 USD
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
289887000 USD
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
156647000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
160613000 USD
CY2017Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
60082000 USD
CY2017Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
63698000 USD
CY2017Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
700000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
24983000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
19340000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1349000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
22722000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
10898000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
300000 USD
CY2017Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
5549000 USD
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
7893000 USD
us-gaap Restructuring Charges
RestructuringCharges
15000000 USD
us-gaap Restructuring Charges
RestructuringCharges
8152000 USD
CY2017Q1 us-gaap Restructuring Reserve
RestructuringReserve
0 USD
CY2017Q3 us-gaap Restructuring Reserve
RestructuringReserve
5204000 USD
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
85347000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
72977000 USD
CY2016Q3 us-gaap Revenues
Revenues
278333000 USD
us-gaap Revenues
Revenues
563193000 USD
CY2017Q3 us-gaap Revenues
Revenues
268871000 USD
us-gaap Revenues
Revenues
532989000 USD
CY2017Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
321179000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
314725000 USD
CY2016Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21205000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21204000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21546000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21461000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21205000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21204000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21546000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21461000 shares
CY2017Q3 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
400000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Estimates</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates, particularly related to realization of inventory, impairment of long-lived assets, collectability of receivables, and income taxes.</font></div></div>

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