2016 Q1 Form 10-Q Financial Statement

#000010119916000524 Filed on May 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $231.3M $238.5M
YoY Change -3.0% 6.99%
Cost Of Revenue $142.1M $126.4M
YoY Change 12.44% 0.94%
Gross Profit $89.21M $112.1M
YoY Change -20.41% 14.75%
Gross Profit Margin 38.56% 46.99%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.626M $1.618M
YoY Change 0.49% -29.5%
% of Gross Profit 1.82% 1.44%
Operating Expenses $236.9M $206.7M
YoY Change 14.61% -0.14%
Operating Profit -$147.7M -$94.63M
YoY Change 56.08% -13.45%
Interest Expense $0.00 $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $28.17M $31.83M
YoY Change -11.52% 100.23%
Income Tax $6.347M $8.152M
% Of Pretax Income 22.54% 25.61%
Net Earnings $22.43M $23.68M
YoY Change -5.29% 77.62%
Net Earnings / Revenue 9.69% 9.93%
Basic Earnings Per Share $0.89 $0.95
Diluted Earnings Per Share $0.88 $0.94
COMMON SHARES
Basic Shares Outstanding 25.21M shares 24.99M shares
Diluted Shares Outstanding 25.60M shares 25.10M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $144.0M $111.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $52.34M $49.71M
YoY Change 5.3% 3.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.172B $3.140B
YoY Change 1.04% 0.77%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.976B $3.864B
YoY Change 2.89% 2.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $192.0M $189.8M
YoY Change 1.16% 52.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $197.6M $198.6M
YoY Change -0.5% 57.62%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $197.6M $198.6M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.047B $3.020B
YoY Change 0.89% 1.99%
SHAREHOLDERS EQUITY
Retained Earnings $607.9M $542.2M
YoY Change 12.11% 10.02%
Common Stock $212.5M $202.3M
YoY Change 5.03% -4.98%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $929.2M $844.2M
YoY Change
Total Liabilities & Shareholders Equity $3.976B $3.864B
YoY Change 2.89% 2.52%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $22.43M $23.68M
YoY Change -5.29% 77.62%
Depreciation, Depletion And Amortization $1.626M $1.618M
YoY Change 0.49% -29.5%
Cash From Operating Activities $35.33M $13.85M
YoY Change 155.01% -25.08%
INVESTING ACTIVITIES
Capital Expenditures -$600.0K -$1.900M
YoY Change -68.42% -34.48%
Acquisitions
YoY Change
Other Investing Activities $21.10M $45.80M
YoY Change -53.93% -258.48%
Cash From Investing Activities $20.49M $43.96M
YoY Change -53.4% -238.48%
FINANCING ACTIVITIES
Cash Dividend Paid $5.553M $4.997M
YoY Change 11.13% 9.42%
Common Stock Issuance & Retirement, Net -$4.745M $730.0K
YoY Change -750.0% -188.7%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$18.28M -$37.07M
YoY Change -50.68% 260.77%
NET CHANGE
Cash From Operating Activities $35.33M $13.85M
Cash From Investing Activities $20.49M $43.96M
Cash From Financing Activities -$18.28M -$37.07M
Net Change In Cash $37.53M $20.75M
YoY Change 80.91% -188.17%
FREE CASH FLOW
Cash From Operating Activities $35.33M $13.85M
Capital Expenditures -$600.0K -$1.900M
Free Cash Flow $35.93M $15.75M
YoY Change 128.06% -26.36%

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3450000 USD
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5017000 USD
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1968000 USD
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10000 USD
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96000 USD
CY2015Q4 us-gaap Reinsurance Recoverables
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CY2016Q1 us-gaap Reinsurance Recoverables
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CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2015Q1 us-gaap Revenues
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CY2015Q1 us-gaap Share Based Compensation
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TradingSecurities
17446000 USD
CY2015Q4 us-gaap Trading Securities Debt
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CY2016Q1 us-gaap Trading Securities Debt
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13000000 USD
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11475000 USD
CY2016Q1 us-gaap Trading Securities Debt Amortized Cost
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11537000 USD
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The financial statement categories that are most dependent on management estimates and assumptions include: investments; deferred policy acquisition costs; reinsurance receivables and recoverables; future policy benefits and losses, claims and loss settlement expenses; and pension and postretirement benefit obligations. </font></div></div>
CY2015Q4 us-gaap Trading Securities Equity
TradingSecuritiesEquity
4353000 USD
CY2016Q1 us-gaap Trading Securities Equity
TradingSecuritiesEquity
4446000 USD
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TradingSecuritiesEquityCost
4443000 USD
CY2016Q1 us-gaap Trading Securities Equity Cost
TradingSecuritiesEquityCost
4443000 USD
CY2015Q4 us-gaap Unearned Premiums
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415057000 USD
CY2016Q1 us-gaap Unearned Premiums
UnearnedPremiums
436058000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25104783 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25596437 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24990470 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25209888 shares
CY2016Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts have been reclassified to conform to the current year presentation. </font></div></div>

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