2018 Q4 Form 10-Q Financial Statement

#000156168018000103 Filed on October 24, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $1.133B $775.1M $717.7M
YoY Change 0.37% 7.99% 23.32%
Cost Of Revenue $897.9M $609.9M $534.5M
YoY Change 1.94% 14.11% 15.05%
Gross Profit $234.8M $165.2M $183.2M
YoY Change -5.2% -9.85% 56.09%
Gross Profit Margin 20.73% 21.31% 25.53%
Selling, General & Admin $102.0M $82.96M $66.14M
YoY Change 25.46% 25.44% 4.76%
% of Gross Profit 43.44% 50.22% 36.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.500M $7.000M $900.0K
YoY Change 955.56% 677.78% 12.5%
% of Gross Profit 4.05% 4.24% 0.49%
Operating Expenses $102.2M $82.96M $66.14M
YoY Change 25.4% 25.44% 4.76%
Operating Profit $132.6M $81.75M $116.8M
YoY Change -20.21% -30.01% 116.19%
Interest Expense $3.500M $0.00 $0.00
YoY Change -136.46%
% of Operating Profit 2.64% 0.0% 0.0%
Other Income/Expense, Net $0.00 -$477.0K $26.00K
YoY Change -1934.62% 23.81%
Pretax Income $136.1M $83.63M $118.4M
YoY Change -13.15% -29.37% 113.55%
Income Tax $35.80M $19.66M $46.10M
% Of Pretax Income 26.3% 23.51% 38.94%
Net Earnings $99.38M $63.97M $72.26M
YoY Change 34.26% -11.48% 107.45%
Net Earnings / Revenue 8.77% 8.25% 10.07%
Basic Earnings Per Share $0.70 $0.43 $0.48
Diluted Earnings Per Share $0.70 $0.43 $0.48
COMMON SHARES
Basic Shares Outstanding 142.2M shares 147.7M shares 151.2M shares
Diluted Shares Outstanding 148.3M shares 152.1M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $277.7M $83.10M $162.4M
YoY Change -1.84% -48.83% 26.18%
Cash & Equivalents $277.7M $83.09M $162.4M
Short-Term Investments
Other Short-Term Assets $32.00M $27.00M $19.10M
YoY Change 146.15% 41.36% 28.19%
Inventory $3.216B $3.378B $3.303B
Prepaid Expenses
Receivables $14.00M $49.70M $38.70M
Other Receivables $37.60M $35.30M $45.90M
Total Short-Term Assets $3.577B $3.573B $3.570B
YoY Change 1.43% 0.09% 13.01%
LONG-TERM ASSETS
Property, Plant & Equipment $54.20M $56.26M $10.70M
YoY Change 414.8% 425.98% 12.29%
Goodwill $139.3M $139.3M $139.3M
YoY Change 0.0% 0.0% 0.0%
Intangibles $21.12M $21.26M $21.79M
YoY Change -2.47% -2.45% -2.4%
Long-Term Investments $5.400M $4.300M $17.60M
YoY Change -8.47% -75.57% 2.33%
Other Assets $70.20M $61.80M $112.3M
YoY Change -12.03% -44.97% -1.66%
Total Long-Term Assets $306.8M $304.3M $326.6M
YoY Change 10.25% -6.82% -1.4%
TOTAL ASSETS
Total Short-Term Assets $3.577B $3.573B $3.570B
Total Long-Term Assets $306.8M $304.3M $326.6M
Total Assets $3.884B $3.877B $3.896B
YoY Change 2.07% -0.49% 11.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $81.30M $83.70M $64.00M
YoY Change 11.52% 30.78% -17.63%
Accrued Expenses $265.2M $258.3M $262.1M
YoY Change 2.79% -1.45% 50.46%
Deferred Revenue $17.46M
YoY Change -10.75%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $378.9M $377.1M $361.3M
YoY Change -2.55% 4.37% 21.2%
LONG-TERM LIABILITIES
Long-Term Debt $1.411B $1.519B $1.670B
YoY Change -4.11% -9.01% 22.16%
Other Long-Term Liabilities $37.50M $19.70M $19.20M
YoY Change 150.0% 2.6% 14.97%
Total Long-Term Liabilities $1.448B $1.539B $1.689B
YoY Change -2.56% -8.88% 22.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $378.9M $377.1M $361.3M
Total Long-Term Liabilities $1.448B $1.539B $1.689B
Total Liabilities $1.827B $1.916B $2.050B
YoY Change -2.55% -6.54% 21.92%
SHAREHOLDERS EQUITY
Retained Earnings $1.397B $1.297B $1.060B
YoY Change 23.15% 22.37% 19.23%
Common Stock $660.1M $663.0M $782.2M
YoY Change -17.02% -15.24% -12.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.057B $1.960B $1.842B
YoY Change
Total Liabilities & Shareholders Equity $3.884B $3.877B $3.896B
YoY Change 2.07% -0.49% 11.64%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $99.38M $63.97M $72.26M
YoY Change 34.26% -11.48% 107.45%
Depreciation, Depletion And Amortization $9.500M $7.000M $900.0K
YoY Change 955.56% 677.78% 12.5%
Cash From Operating Activities $382.8M -$72.10M $10.00M
YoY Change 22.54% -821.0% -113.32%
INVESTING ACTIVITIES
Capital Expenditures -$7.200M -$8.800M -$400.0K
YoY Change 1700.0% 2100.0% -60.0%
Acquisitions
YoY Change
Other Investing Activities -$62.00M -$600.0K -$400.0K
YoY Change 61900.0% 50.0%
Cash From Investing Activities -$69.00M -$9.500M -$900.0K
YoY Change 13700.0% 955.56% 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 -119.1M -75.30M 38.30M
YoY Change -37.74% -296.61% -56.08%
NET CHANGE
Cash From Operating Activities 382.8M -72.10M 10.00M
Cash From Investing Activities -69.00M -9.500M -900.0K
Cash From Financing Activities -119.1M -75.30M 38.30M
Net Change In Cash 194.7M -156.9M 47.40M
YoY Change 61.44% -431.01% 323.21%
FREE CASH FLOW
Cash From Operating Activities $382.8M -$72.10M $10.00M
Capital Expenditures -$7.200M -$8.800M -$400.0K
Free Cash Flow $390.0M -$63.30M $10.40M
YoY Change 24.68% -708.65% -114.04%

Facts In Submission

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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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us-gaap Product Warranty Accrual Payments
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1021000 USD
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us-gaap Product Warranty Accrual Warranties Issued
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67089000 USD
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RelatedPartyTransactionPurchasesFromRelatedParty
0 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
213726000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
57931000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1134230000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1297405000 USD
CY2018Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1126876000 USD
CY2017Q3 us-gaap Revenues
Revenues
717735000 USD
us-gaap Revenues
Revenues
1681752000 USD
CY2018Q3 us-gaap Revenues
Revenues
775071000 USD
us-gaap Revenues
Revenues
2130050000 USD
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
33179000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
92209000 USD
CY2018Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
44854000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
128881000 USD
CY2018Q3 us-gaap Selling Expense
SellingExpense
44854000 USD
us-gaap Selling Expense
SellingExpense
128881000 USD
CY2017Q4 us-gaap Senior Notes
SeniorNotes
1471302000 USD
CY2018Q3 us-gaap Senior Notes
SeniorNotes
1419198000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
11631000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
10955000 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
12291000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1943000 USD
CY2017 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
112217000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
139349000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1929722000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
1960397000 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
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1961001000 USD
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
7706000 USD
CY2018Q3 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
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1458000 USD
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
152129825 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
155936076 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
148318032 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
151482456 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
151214744 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
155238206 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
147725074 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
150377472 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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