2018 Q4 Form 10-Q Financial Statement

#000100865418000031 Filed on November 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $505.9M $485.8M $539.5M
YoY Change -14.05% -9.95% 3.39%
Cost Of Revenue $175.6M $164.1M $182.7M
YoY Change -12.9% -10.18% 8.49%
Gross Profit $330.3M $321.7M $356.8M
YoY Change -14.65% -9.84% 0.96%
Gross Profit Margin 65.29% 66.22% 66.14%
Selling, General & Admin $245.5M $253.0M $283.5M
YoY Change -12.26% -10.76% -0.25%
% of Gross Profit 74.33% 78.64% 79.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.10M
YoY Change 11.03%
% of Gross Profit 4.23%
Operating Expenses $245.5M $253.0M $283.5M
YoY Change -12.26% -10.76% -0.25%
Operating Profit $84.80M $67.20M $68.40M
YoY Change -20.9% -1.75% -24.84%
Interest Expense -$11.40M $11.30M $11.50M
YoY Change 8.57% -1.74% -10.16%
% of Operating Profit -13.44% 16.82% 16.81%
Other Income/Expense, Net -$700.0K $600.0K -$1.300M
YoY Change -187.5% -146.15% -533.33%
Pretax Income $72.10M $57.10M $56.40M
YoY Change -6.61% 1.24% -28.88%
Income Tax $4.200M $18.00M $25.00M
% Of Pretax Income 5.83% 31.52% 44.33%
Net Earnings $17.30M $39.10M $31.40M
YoY Change -105.3% 24.52% -35.66%
Net Earnings / Revenue 3.42% 8.05% 5.82%
Basic Earnings Per Share $0.36 $0.79 $0.62
Diluted Earnings Per Share $0.35 $0.79 $0.61
COMMON SHARES
Basic Shares Outstanding 48.58M shares 49.30M shares 50.90M shares
Diluted Shares Outstanding 49.40M shares 51.30M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.0M $117.6M $85.00M
YoY Change 3.4% 38.35% -13.71%
Cash & Equivalents $149.0M $117.6M $118.9M
Short-Term Investments
Other Short-Term Assets $46.00M $47.70M $52.60M
YoY Change -13.86% -9.32% -12.04%
Inventory $257.7M $279.6M $291.1M
Prepaid Expenses
Receivables $144.7M $157.9M $154.1M
Other Receivables $23.20M $26.30M $27.40M
Total Short-Term Assets $620.6M $629.1M $623.6M
YoY Change -1.57% 0.88% 2.87%
LONG-TERM ASSETS
Property, Plant & Equipment $276.0M $274.2M $276.0M
YoY Change -0.79% -0.65% 7.69%
Goodwill $76.10M $77.20M $80.30M
YoY Change -3.55% -3.86% -42.52%
Intangibles $52.90M
YoY Change -15.36%
Long-Term Investments $0.00 $0.00 $0.00
YoY Change
Other Assets $47.50M $43.40M $34.30M
YoY Change 17.0% 26.53% 13.2%
Total Long-Term Assets $688.2M $735.5M $1.085B
YoY Change -9.15% -32.21% 3.42%
TOTAL ASSETS
Total Short-Term Assets $620.6M $629.1M $623.6M
Total Long-Term Assets $688.2M $735.5M $1.085B
Total Assets $1.309B $1.365B $1.709B
YoY Change -5.71% -20.13% 3.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $129.2M $87.90M $88.30M
YoY Change 3.86% -0.45% -0.23%
Accrued Expenses $344.4M $362.4M $353.7M
YoY Change -14.2% 2.46% 2.64%
Deferred Revenue
YoY Change
Short-Term Debt $283.9M $0.00 $0.00
YoY Change 116.72%
Long-Term Debt Due $285.5M $332.3M $173.2M
YoY Change 114.66% 91.86% -13.36%
Total Short-Term Liabilities $759.1M $782.6M $635.1M
YoY Change 15.22% 23.22% 0.33%
LONG-TERM LIABILITIES
Long-Term Debt $603.4M $603.8M $605.3M
YoY Change -0.28% -0.25% -0.26%
Other Long-Term Liabilities $181.5M $212.8M $231.6M
YoY Change -25.46% -8.12% 2.66%
Total Long-Term Liabilities $181.5M $212.8M $231.6M
YoY Change -25.46% -8.12% 2.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $759.1M $782.6M $635.1M
Total Long-Term Liabilities $181.5M $212.8M $231.6M
Total Liabilities $940.6M $995.4M $866.7M
YoY Change 4.24% 14.85% 0.94%
SHAREHOLDERS EQUITY
Retained Earnings $1.087B $1.079B $1.408B
YoY Change 4.19% -23.35% -0.26%
Common Stock $600.0K $600.0K $600.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $939.8M $945.5M $863.7M
YoY Change 10.37% 9.47% -2.48%
Treasury Stock Shares 14.94M shares 15.03M shares 12.73M shares
Shareholders Equity -$235.2M -$234.6M $236.5M
YoY Change
Total Liabilities & Shareholders Equity $1.309B $1.365B $1.709B
YoY Change -5.71% -20.13% 3.22%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $17.30M $39.10M $31.40M
YoY Change -105.3% 24.52% -35.66%
Depreciation, Depletion And Amortization $15.10M
YoY Change 11.03%
Cash From Operating Activities $118.4M $52.40M $31.60M
YoY Change -13.07% 65.82% -47.77%
INVESTING ACTIVITIES
Capital Expenditures -$20.20M -$17.60M -$16.00M
YoY Change 2.54% 10.0% 24.03%
Acquisitions
YoY Change
Other Investing Activities $4.200M $3.400M $5.000M
YoY Change 40.0% -32.0% -83.05%
Cash From Investing Activities -$16.00M -$14.20M -$11.00M
YoY Change -4.19% 29.09% -166.27%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -73.00M -11.30M -35.20M
YoY Change -24.35% -67.9% -41.33%
NET CHANGE
Cash From Operating Activities 118.4M 52.40M 31.60M
Cash From Investing Activities -16.00M -14.20M -11.00M
Cash From Financing Activities -73.00M -11.30M -35.20M
Net Change In Cash 29.40M 26.90M -14.60M
YoY Change 27.83% -284.25% -185.38%
FREE CASH FLOW
Cash From Operating Activities $118.4M $52.40M $31.60M
Capital Expenditures -$20.20M -$17.60M -$16.00M
Free Cash Flow $138.6M $70.00M $47.60M
YoY Change -11.1% 47.06% -35.15%

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600000 USD
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0 USD
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200000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
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OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
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0.01
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0 shares
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0 USD
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0 USD
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300000 USD
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274200000 USD
us-gaap Provision For Loan Lease And Other Losses
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2100000 USD
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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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2700000 USD
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1600000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
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1600000 USD
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45400000 USD
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30800000 USD
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0 USD
us-gaap Restructuring Reserve Accrual Adjustment1
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5500000 USD
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400000 USD
us-gaap Restructuring Reserve Settled Without Cash2
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500000 USD
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43900000 USD
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us-gaap Restructuring Settlement And Impairment Provisions
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12700000 USD
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1043100000 USD
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RetainedEarningsAccumulatedDeficit
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0 USD
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RevenueFromRelatedParties
0 USD
us-gaap Revenue From Related Parties
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0 USD
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us-gaap Shipping Handling And Transportation Costs
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105500000 USD
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ShippingHandlingAndTransportationCosts
32500000 USD
us-gaap Shipping Handling And Transportation Costs
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103800000 USD
CY2017Q4 us-gaap Stockholders Equity
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StockholdersEquity
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CY2017Q4 us-gaap Treasury Stock Shares
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TreasuryStockShares
15026195 shares
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851500000 USD
CY2018Q3 us-gaap Treasury Stock Value
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14900000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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7300000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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6700000 USD
CY2018Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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14600000 USD
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
100000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
200000 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51300000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51300000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50500000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50800000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49300000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50300000 shares
CY2017Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
400000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
500000 shares
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-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates:</font><font style="font-family:inherit;font-size:10pt;"> The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates. </font></div></div>

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