2019 Q1 Form 10-Q Financial Statement

#000156168019000055 Filed on April 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $494.6M $583.7M
YoY Change -15.26% 48.37%
Cost Of Revenue $417.8M $451.6M
YoY Change -7.48% 41.3%
Gross Profit $71.01M $132.1M
YoY Change -46.23% 79.02%
Gross Profit Margin 14.36% 22.63%
Selling, General & Admin $77.59M $75.10M
YoY Change 3.31% 22.41%
% of Gross Profit 109.26% 56.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.085M $5.488M
YoY Change -7.34% 567.64%
% of Gross Profit 7.16% 4.16%
Operating Expenses $77.59M $75.10M
YoY Change 3.31% 22.41%
Operating Profit -$6.877M $56.69M
YoY Change -112.13% 365.31%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $6.241M $171.0K
YoY Change 3549.71% 122.08%
Pretax Income $95.00K $57.54M
YoY Change -99.83% 348.45%
Income Tax $24.00K $14.70M
% Of Pretax Income 25.26% 25.55%
Net Earnings $71.00K $42.88M
YoY Change -99.83% 423.37%
Net Earnings / Revenue 0.01% 7.35%
Basic Earnings Per Share $0.00 $0.28
Diluted Earnings Per Share $0.00 $0.28
COMMON SHARES
Basic Shares Outstanding 141.9M shares 151.5M shares
Diluted Shares Outstanding 142.4M shares 152.8M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $148.8M $324.6M
YoY Change -54.16% 152.61%
Cash & Equivalents $148.8M $324.6M
Short-Term Investments
Other Short-Term Assets $30.40M $11.60M
YoY Change 162.07% -48.9%
Inventory $3.243B $3.146B
Prepaid Expenses
Receivables $20.70M $19.90M
Other Receivables $37.50M $35.30M
Total Short-Term Assets $3.480B $3.537B
YoY Change -1.61% 8.39%
LONG-TERM ASSETS
Property, Plant & Equipment $56.46M $51.60M
YoY Change 9.43% 360.35%
Goodwill $139.3M $139.3M
YoY Change 0.0% 0.0%
Intangibles $20.99M $21.52M
YoY Change -2.48% -2.42%
Long-Term Investments $4.200M $4.700M
YoY Change -10.64% -72.51%
Other Assets $73.10M $77.00M
YoY Change -5.06% -37.9%
Total Long-Term Assets $375.8M $309.8M
YoY Change 21.32% -7.92%
TOTAL ASSETS
Total Short-Term Assets $3.480B $3.537B
Total Long-Term Assets $375.8M $309.8M
Total Assets $3.856B $3.847B
YoY Change 0.24% 6.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $66.60M $76.20M
YoY Change -12.6% 2.83%
Accrued Expenses $272.7M $241.7M
YoY Change 12.83% 16.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $371.8M $389.0M
YoY Change -4.42% 25.2%
LONG-TERM LIABILITIES
Long-Term Debt $1.413B $1.473B
YoY Change -4.11% 3.75%
Other Long-Term Liabilities $14.60M $20.40M
YoY Change -28.43% 33.33%
Total Long-Term Liabilities $1.427B $1.494B
YoY Change -4.45% 4.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $371.8M $389.0M
Total Long-Term Liabilities $1.427B $1.494B
Total Liabilities $1.799B $1.883B
YoY Change -4.44% 7.82%
SHAREHOLDERS EQUITY
Retained Earnings $1.397B $1.127B
YoY Change 23.96% 17.97%
Common Stock $660.2M $793.9M
YoY Change -16.84% -10.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.057B $1.964B
YoY Change
Total Liabilities & Shareholders Equity $3.856B $3.847B
YoY Change 0.24% 6.86%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $71.00K $42.88M
YoY Change -99.83% 423.37%
Depreciation, Depletion And Amortization $5.085M $5.488M
YoY Change -7.34% 567.64%
Cash From Operating Activities -$114.9M $49.89M
YoY Change -330.38% -144.43%
INVESTING ACTIVITIES
Capital Expenditures $7.224M $2.170M
YoY Change 232.9% 85.0%
Acquisitions
YoY Change
Other Investing Activities -$200.0K -$900.0K
YoY Change -77.78% 350.0%
Cash From Investing Activities -$7.448M -$3.117M
YoY Change 138.95% 122.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$6.541M -$5.075M
YoY Change 28.89% -115.13%
NET CHANGE
Cash From Operating Activities -$114.9M $49.89M
Cash From Investing Activities -$7.448M -$3.117M
Cash From Financing Activities -$6.541M -$5.075M
Net Change In Cash -$128.9M $41.69M
YoY Change -409.19% -152.03%
FREE CASH FLOW
Cash From Operating Activities -$114.9M $49.89M
Capital Expenditures $7.224M $2.170M
Free Cash Flow -$122.1M $47.72M
YoY Change -355.99% -142.05%

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198000 USD
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CY2019Q1 us-gaap Product Warranty Accrual
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3637000 USD
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CY2019Q1 us-gaap Unrecognized Tax Benefits
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972000 USD
CY2019Q1 us-gaap Unrecognized Tax Benefits
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1000000 USD
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CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q1 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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