2015 Q2 Form 10-Q Financial Statement

#000120626415000083 Filed on August 07, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $764.4M $715.0M
YoY Change 6.91% 8.23%
Cost Of Revenue $466.9M $446.7M
YoY Change 4.52% 10.11%
Gross Profit $297.5M $268.3M
YoY Change 10.88% 5.26%
Gross Profit Margin 38.92% 37.52%
Selling, General & Admin $245.6M $219.2M
YoY Change 12.04% 1.43%
% of Gross Profit 82.55% 81.7%
Research & Development $8.100M $5.500M
YoY Change 47.27% 19.57%
% of Gross Profit 2.72% 2.05%
Depreciation & Amortization $26.50M $21.50M
YoY Change 23.26% 6.44%
% of Gross Profit 8.91% 8.01%
Operating Expenses $248.9M $5.500M
YoY Change 4425.45% 19.57%
Operating Profit $52.00M $50.30M
YoY Change 3.38% 14.32%
Interest Expense $20.50M $23.00M
YoY Change -10.87% -35.57%
% of Operating Profit 39.42% 45.73%
Other Income/Expense, Net -$22.70M -$42.90M
YoY Change -47.09% 15.01%
Pretax Income $29.30M $7.400M
YoY Change 295.95% 10.45%
Income Tax $8.300M $9.800M
% Of Pretax Income 28.33% 132.43%
Net Earnings $21.20M -$2.200M
YoY Change -1063.64% 37.5%
Net Earnings / Revenue 2.77% -0.31%
Basic Earnings Per Share $0.35 -$0.04
Diluted Earnings Per Share $0.34 -$0.04
COMMON SHARES
Basic Shares Outstanding 61.30M shares 60.80M shares
Diluted Shares Outstanding 62.40M shares 60.80M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.40M $121.5M
YoY Change -70.86% 19.82%
Cash & Equivalents $35.40M $121.5M
Short-Term Investments
Other Short-Term Assets $113.1M $100.3M
YoY Change 12.76% 15.82%
Inventory $231.8M $220.0M
Prepaid Expenses
Receivables $424.7M $376.2M
Other Receivables $8.600M $0.00
Total Short-Term Assets $813.6M $818.0M
YoY Change -0.54% 16.99%
LONG-TERM ASSETS
Property, Plant & Equipment $358.6M $366.4M
YoY Change -2.13% -11.73%
Goodwill $722.0M $741.5M
YoY Change -2.63%
Intangibles $712.3M $743.5M
YoY Change -4.2%
Long-Term Investments
YoY Change
Other Assets $101.2M $71.50M
YoY Change 41.54% -20.64%
Total Long-Term Assets $1.903B $1.934B
YoY Change -1.58% -4.12%
TOTAL ASSETS
Total Short-Term Assets $813.6M $818.0M
Total Long-Term Assets $1.903B $1.934B
Total Assets $2.717B $2.752B
YoY Change -1.27% 1.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $261.5M $235.2M
YoY Change 11.18% 56.7%
Accrued Expenses $247.5M $205.0M
YoY Change 20.73% 6.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $66.00M $52.80M
YoY Change 25.0% 34.01%
Total Short-Term Liabilities $575.2M $511.2M
YoY Change 12.52% 27.45%
LONG-TERM LIABILITIES
Long-Term Debt $1.510B $1.723B
YoY Change -12.37% -9.46%
Other Long-Term Liabilities $115.1M $81.60M
YoY Change 41.05% -0.97%
Total Long-Term Liabilities $15.20M $11.60M
YoY Change 31.03% -99.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $575.2M $511.2M
Total Long-Term Liabilities $15.20M $11.60M
Total Liabilities $2.450B $2.584B
YoY Change -5.22% -3.91%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $252.7M $155.9M
YoY Change
Total Liabilities & Shareholders Equity $2.717B $2.752B
YoY Change -1.27% 1.31%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $21.20M -$2.200M
YoY Change -1063.64% 37.5%
Depreciation, Depletion And Amortization $26.50M $21.50M
YoY Change 23.26% 6.44%
Cash From Operating Activities $7.500M $74.00M
YoY Change -89.86% -543.11%
INVESTING ACTIVITIES
Capital Expenditures $18.60M $9.100M
YoY Change 104.4% -166.42%
Acquisitions
YoY Change
Other Investing Activities $7.100M $45.00M
YoY Change -84.22% -52.43%
Cash From Investing Activities -$11.50M $35.90M
YoY Change -132.03% -55.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.500M -68.10M
YoY Change -91.92% 20.11%
NET CHANGE
Cash From Operating Activities 7.500M 74.00M
Cash From Investing Activities -11.50M 35.90M
Cash From Financing Activities -5.500M -68.10M
Net Change In Cash -9.500M 41.80M
YoY Change -122.73% 457.33%
FREE CASH FLOW
Cash From Operating Activities $7.500M $74.00M
Capital Expenditures $18.60M $9.100M
Free Cash Flow -$11.10M $64.90M
YoY Change -117.1% -2263.33%

Facts In Submission

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15200000 USD
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1510000000 USD
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25200000 USD
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2 segment
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200000 USD
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200000 USD
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300000 USD
CY2014Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
3400000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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4200000 USD
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OtherComprehensiveIncomeLossNetOfTax
2100000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3900000 USD
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7200000 USD
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
100000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
100000 USD
CY2014Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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-1700000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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1200000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
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500000 USD
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OtherNonoperatingIncomeExpense
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us-gaap Payments For Proceeds From Other Investing Activities
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2100000 USD
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100000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
2200000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
1200000 USD
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9100000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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16900000 USD
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PaymentsToAcquirePropertyPlantAndEquipment
18600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
34000000 USD
CY2014Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
14900000 USD
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14300000 USD
CY2015Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000.00 shares
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
46300000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
7200000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
283000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
200000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
-2400000 USD
us-gaap Profit Loss
ProfitLoss
25300000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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CY2014Q4 us-gaap Property Plant And Equipment Net
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us-gaap Provision For Doubtful Accounts
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3900000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000000 USD
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12600000 USD
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14600000 USD
us-gaap Repayments Of Lines Of Credit
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169100000 USD
us-gaap Repayments Of Lines Of Credit
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311500000 USD
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715000000 USD
us-gaap Revenues
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1416900000 USD
CY2015Q2 us-gaap Revenues
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764400000 USD
us-gaap Revenues
Revenues
1503900000 USD
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
0 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
0 USD
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
0 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
0 USD
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
155200000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
298200000 USD
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
168600000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
322400000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5400000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
11700000 USD
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
4000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
4000000 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.665
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.665
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.354
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.362
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.583
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.583
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.351
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.351
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.012
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.012
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.015
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.015
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.004
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.004
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.010
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.010
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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202700000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
252700000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
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47600000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
46700000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
10300000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
10700000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
44600000 USD
CY2015Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
43900000 USD
CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1100000 shares
CY2015Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1100000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1200000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60800000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61900000 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62300000 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60800000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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61100000 shares
us-gaap Revenue Recognition Sales Returns
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Accrued Sales Returns</font><font style="font-family:inherit;font-size:10pt;">. The Company allows product returns through certain sales channels and on certain products. Estimated sales returns are provided at the time of sale based on historical sales channel return rates. Estimated future obligations related to these products are provided by a reduction of sales in the period in which the revenue is recognized. Accrued sales returns are included in accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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