2018 Q2 Form 10-Q Financial Statement

#000156168018000096 Filed on July 27, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $771.3M $570.6M
YoY Change 35.17% -8.73%
Cost Of Revenue $606.1M $455.5M
YoY Change 33.06% 1.72%
Gross Profit $165.2M $115.2M
YoY Change 43.46% -35.11%
Gross Profit Margin 21.42% 20.18%
Selling, General & Admin $82.23M $66.02M
YoY Change 24.55% 4.9%
% of Gross Profit 49.78% 57.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.100M $900.0K
YoY Change 688.89% -400.0%
% of Gross Profit 4.3% 0.78%
Operating Expenses $82.23M $66.02M
YoY Change 24.55% 4.9%
Operating Profit $82.57M $48.79M
YoY Change 69.25% -57.25%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0% 0.0%
Other Income/Expense, Net -$73.00K $44.00K
YoY Change -265.91% -70.86%
Pretax Income $84.82M $51.90M
YoY Change 63.42% -55.3%
Income Tax $21.14M $19.10M
% Of Pretax Income 24.92% 36.8%
Net Earnings $63.68M $32.71M
YoY Change 94.66% -55.75%
Net Earnings / Revenue 8.26% 5.73%
Basic Earnings Per Share $0.42 $0.21
Diluted Earnings Per Share $0.42 $0.21
COMMON SHARES
Basic Shares Outstanding 152.0M shares 155.6M shares
Diluted Shares Outstanding 153.4M shares 156.1M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $239.9M $114.9M
YoY Change 108.79% -2.21%
Cash & Equivalents $239.9M $114.9M
Short-Term Investments
Other Short-Term Assets $17.80M $19.60M
YoY Change -9.18% 47.37%
Inventory $3.248B $3.208B
Prepaid Expenses
Receivables $24.30M $26.70M
Other Receivables $35.30M $46.30M
Total Short-Term Assets $3.565B $3.416B
YoY Change 4.37% 13.64%
LONG-TERM ASSETS
Property, Plant & Equipment $54.09M $11.01M
YoY Change 391.32% 46.2%
Goodwill $139.3M $139.3M
YoY Change 0.0% 0.0%
Intangibles $21.39M $21.92M
YoY Change -2.44% -2.38%
Long-Term Investments $4.200M $18.80M
YoY Change -77.66% 7.43%
Other Assets $69.30M $121.5M
YoY Change -42.96% 1.93%
Total Long-Term Assets $307.6M $336.2M
YoY Change -8.51% 1.7%
TOTAL ASSETS
Total Short-Term Assets $3.565B $3.416B
Total Long-Term Assets $307.6M $336.2M
Total Assets $3.873B $3.752B
YoY Change 3.22% 12.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $88.90M $63.30M
YoY Change 40.44% -20.68%
Accrued Expenses $242.0M $227.7M
YoY Change 6.28% 45.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $368.2M $327.2M
YoY Change 12.53% 16.11%
LONG-TERM LIABILITIES
Long-Term Debt $1.453B $1.618B
YoY Change -10.17% 27.89%
Other Long-Term Liabilities $18.80M $14.10M
YoY Change 33.33% -3.42%
Total Long-Term Liabilities $1.472B $1.632B
YoY Change -9.79% 27.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $368.2M $327.2M
Total Long-Term Liabilities $1.472B $1.632B
Total Liabilities $1.840B $1.959B
YoY Change -6.06% 25.47%
SHAREHOLDERS EQUITY
Retained Earnings $1.233B $987.9M
YoY Change 24.85% 15.64%
Common Stock $798.3M $790.0M
YoY Change 1.05% -12.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.032B $1.778B
YoY Change
Total Liabilities & Shareholders Equity $3.873B $3.752B
YoY Change 3.22% 12.46%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $63.68M $32.71M
YoY Change 94.66% -55.75%
Depreciation, Depletion And Amortization $7.100M $900.0K
YoY Change 688.89% -400.0%
Cash From Operating Activities -$49.90M -$108.4M
YoY Change -53.97% 133.12%
INVESTING ACTIVITIES
Capital Expenditures -$13.50M -$600.0K
YoY Change 2150.0% -14.29%
Acquisitions
YoY Change
Other Investing Activities -$300.0K -$300.0K
YoY Change 0.0%
Cash From Investing Activities -$13.80M -$800.0K
YoY Change 1625.0% 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -21.00M 95.60M
YoY Change -121.97% 359.62%
NET CHANGE
Cash From Operating Activities -49.90M -108.4M
Cash From Investing Activities -13.80M -800.0K
Cash From Financing Activities -21.00M 95.60M
Net Change In Cash -84.70M -13.60M
YoY Change 522.79% -48.68%
FREE CASH FLOW
Cash From Operating Activities -$49.90M -$108.4M
Capital Expenditures -$13.50M -$600.0K
Free Cash Flow -$36.40M -$107.8M
YoY Change -66.23% 135.37%

Facts In Submission

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us-gaap Equity Method Investment Summarized Financial Information Revenue
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267000 USD
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534000 USD
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534000 USD
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534000 USD
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534000 USD
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23712000 USD
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6000 USD
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us-gaap Product Warranty Accrual Payments
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us-gaap Product Warranty Accrual Payments
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us-gaap Product Warranty Accrual Warranties Issued
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us-gaap Product Warranty Accrual Warranties Issued
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43147000 USD
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us-gaap Selling And Marketing Expense
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1929722000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
2031702000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1848510000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1930327000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2032306000 USD
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
7706000 USD
CY2018Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
8321000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1500000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1458000 USD
CY2018Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1458000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
156140543 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
157924561 shares
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
153355965 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
153067342 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
155603699 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
157335296 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151983886 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151725651 shares
us-gaap Use Of Estimates
UseOfEstimates
<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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