2018 Q1 Form 10-Q Financial Statement

#000156168018000061 Filed on April 25, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $583.7M $393.4M
YoY Change 48.37% -7.25%
Cost Of Revenue $451.6M $319.6M
YoY Change 41.3% -1.9%
Gross Profit $132.1M $73.77M
YoY Change 79.02% -24.95%
Gross Profit Margin 22.63% 18.75%
Selling, General & Admin $75.10M $61.35M
YoY Change 22.41% 11.84%
% of Gross Profit 56.86% 83.16%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.488M $822.0K
YoY Change 567.64% -54.13%
% of Gross Profit 4.16% 1.11%
Operating Expenses $75.10M $61.35M
YoY Change 22.41% 11.84%
Operating Profit $56.69M $12.18M
YoY Change 365.31% -71.86%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net $171.0K $77.00K
YoY Change 122.08% -33.04%
Pretax Income $57.54M $12.83M
YoY Change 348.45% -70.97%
Income Tax $14.70M $4.614M
% Of Pretax Income 25.55% 35.96%
Net Earnings $42.88M $8.193M
YoY Change 423.37% -71.3%
Net Earnings / Revenue 7.35% 2.08%
Basic Earnings Per Share $0.28 $0.05
Diluted Earnings Per Share $0.28 $0.05
COMMON SHARES
Basic Shares Outstanding 151.5M shares 158.8M shares
Diluted Shares Outstanding 152.8M shares 159.4M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $324.6M $128.5M
YoY Change 152.61% -10.76%
Cash & Equivalents $324.6M $128.5M
Short-Term Investments
Other Short-Term Assets $11.60M $22.70M
YoY Change -48.9% 92.37%
Inventory $3.146B $3.046B
Prepaid Expenses
Receivables $19.90M $19.10M
Other Receivables $35.30M $46.90M
Total Short-Term Assets $3.537B $3.263B
YoY Change 8.39% 12.77%
LONG-TERM ASSETS
Property, Plant & Equipment $51.60M $11.21M
YoY Change 360.35% 50.38%
Goodwill $139.3M $139.3M
YoY Change 0.0% 0.0%
Intangibles $21.52M $22.06M
YoY Change -2.42% -2.36%
Long-Term Investments $4.700M $17.10M
YoY Change -72.51% -2.29%
Other Assets $77.00M $124.0M
YoY Change -37.9% -3.8%
Total Long-Term Assets $309.8M $336.4M
YoY Change -7.92% -1.14%
TOTAL ASSETS
Total Short-Term Assets $3.537B $3.263B
Total Long-Term Assets $309.8M $336.4M
Total Assets $3.847B $3.600B
YoY Change 6.86% 11.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $76.20M $74.10M
YoY Change 2.83% 9.62%
Accrued Expenses $241.7M $208.2M
YoY Change 16.09% 31.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $389.0M $310.7M
YoY Change 25.2% 24.28%
LONG-TERM LIABILITIES
Long-Term Debt $1.473B $1.420B
YoY Change 3.75% 14.11%
Other Long-Term Liabilities $20.40M $15.30M
YoY Change 33.33% -19.05%
Total Long-Term Liabilities $1.494B $1.435B
YoY Change 4.06% 13.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $389.0M $310.7M
Total Long-Term Liabilities $1.494B $1.435B
Total Liabilities $1.883B $1.746B
YoY Change 7.82% 15.38%
SHAREHOLDERS EQUITY
Retained Earnings $1.127B $955.2M
YoY Change 17.97% 22.4%
Common Stock $793.9M $883.9M
YoY Change -10.19% -3.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.964B $1.839B
YoY Change
Total Liabilities & Shareholders Equity $3.847B $3.600B
YoY Change 6.86% 11.31%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $42.88M $8.193M
YoY Change 423.37% -71.3%
Depreciation, Depletion And Amortization $5.488M $822.0K
YoY Change 567.64% -54.13%
Cash From Operating Activities $49.89M -$112.3M
YoY Change -144.43% -19.62%
INVESTING ACTIVITIES
Capital Expenditures $2.170M $1.173M
YoY Change 85.0% 185.4%
Acquisitions
YoY Change
Other Investing Activities -$900.0K -$200.0K
YoY Change 350.0%
Cash From Investing Activities -$3.117M -$1.399M
YoY Change 122.8% 249.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $492.0K
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$5.075M $33.55M
YoY Change -115.13% -51.79%
NET CHANGE
Cash From Operating Activities $49.89M -$112.3M
Cash From Investing Activities -$3.117M -$1.399M
Cash From Financing Activities -$5.075M $33.55M
Net Change In Cash $41.69M -$80.14M
YoY Change -152.03% 13.67%
FREE CASH FLOW
Cash From Operating Activities $49.89M -$112.3M
Capital Expenditures $2.170M $1.173M
Free Cash Flow $47.72M -$113.5M
YoY Change -142.05% -19.02%

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13040000 USD
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50000000 USD
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0 USD
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746000 USD
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5000 USD
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69373000 USD
CY2018Q1 us-gaap Product Warranty Accrual
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70482000 USD
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3984000 USD
CY2018Q1 us-gaap Product Warranty Accrual Payments
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3637000 USD
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1880000 USD
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4746000 USD
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CY2017Q4 us-gaap Unrecognized Tax Benefits
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CY2017Q4 us-gaap Unrecognized Tax Benefits
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1500000 USD
CY2018Q1 us-gaap Unrecognized Tax Benefits
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1458000 USD
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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158769478 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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151464547 shares
CY2018Q1 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our financial statements have been prepared in accordance with GAAP. The preparation of these financial statements requires our management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates.</font></div></div>

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