2016 Q4 Form 10-Q Financial Statement

#000151173717000003 Filed on February 09, 2017

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q2 2015 Q4
Revenue $213.5M $185.7M $161.9M
YoY Change 31.92% 27.82% 5.7%
Cost Of Revenue $118.4M $95.90M $82.83M
YoY Change 42.94% 21.24% -1.53%
Gross Profit $95.14M $89.76M $79.04M
YoY Change 20.37% 35.71% 14.52%
Gross Profit Margin 44.55% 48.34% 48.83%
Selling, General & Admin $9.001M $9.200M $7.433M
YoY Change 21.1% 84.0% 38.62%
% of Gross Profit 9.46% 10.25% 9.4%
Research & Development $16.34M $15.00M $15.43M
YoY Change 5.89% 2.04% 19.27%
% of Gross Profit 17.17% 16.71% 19.52%
Depreciation & Amortization $1.900M $1.600M $1.400M
YoY Change 35.71% -11.11% 40.0%
% of Gross Profit 2.0% 1.78% 1.77%
Operating Expenses $25.34M $24.10M $22.61M
YoY Change 12.09% 21.72% 23.54%
Operating Profit $69.80M $65.65M $56.44M
YoY Change 23.68% 800.49% 11.26%
Interest Expense -$1.200M -$800.0K -$700.0K
YoY Change 71.43% 166.67%
% of Operating Profit -1.72% -1.22% -1.24%
Other Income/Expense, Net -$1.170M -$651.0K
YoY Change 79.72% -3929.41%
Pretax Income $68.63M $64.80M $55.79M
YoY Change 23.03% 825.71% 9.94%
Income Tax $8.022M $7.100M $6.333M
% Of Pretax Income 11.69% 10.96% 11.35%
Net Earnings $60.61M $57.71M $49.45M
YoY Change 22.56% 1177.25% 6.89%
Net Earnings / Revenue 28.38% 31.08% 30.55%
Basic Earnings Per Share $0.74 $0.70 $0.58
Diluted Earnings Per Share $0.72 $0.69 $0.57
COMMON SHARES
Basic Shares Outstanding 82.17M shares 82.92M shares 84.72M shares
Diluted Shares Outstanding 83.89M shares 86.09M shares

Balance Sheet

Concept 2016 Q4 2016 Q2 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $612.7M $551.0M $496.7M
YoY Change 23.35% 23.43% 27.82%
Cash & Equivalents $612.7M $551.0M $496.7M
Short-Term Investments
Other Short-Term Assets $53.70M $7.153M $8.440M
YoY Change 536.26% 12.91% 52.26%
Inventory $104.4M $57.11M $33.11M
Prepaid Expenses
Receivables $115.8M $82.79M $64.57M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $886.6M $728.4M $619.9M
YoY Change 43.01% 25.29% 15.53%
LONG-TERM ASSETS
Property, Plant & Equipment $12.62M $12.95M $13.36M
YoY Change -5.52% -16.98% -2.91%
Goodwill
YoY Change
Intangibles $541.0K $616.0K $466.0K
YoY Change 16.09% 7.13%
Long-Term Investments
YoY Change
Other Assets $2.029M $1.576M $1.918M
YoY Change 5.79% -25.27% 8.67%
Total Long-Term Assets $18.85M $18.72M $16.82M
YoY Change 12.08% -2.61% 0.21%
TOTAL ASSETS
Total Short-Term Assets $886.6M $728.4M $619.9M
Total Long-Term Assets $18.85M $18.72M $16.82M
Total Assets $905.4M $747.1M $636.8M
YoY Change 42.2% 24.4% 15.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $77.57M $51.51M $42.60M
YoY Change 82.09% 17.45% -22.46%
Accrued Expenses $7.051M $26.67M $6.011M
YoY Change 17.3% 75.82% -43.91%
Deferred Revenue
YoY Change
Short-Term Debt $13.49M $10.99M $10.00M
YoY Change 34.93% 9.93%
Long-Term Debt Due $13.50M $11.00M $10.00M
YoY Change 35.0% 10.0%
Total Short-Term Liabilities $119.3M $90.66M $70.56M
YoY Change 69.05% 29.27% 0.38%
LONG-TERM LIABILITIES
Long-Term Debt $184.2M $191.6M $115.5M
YoY Change 59.48% 118.93% 59.85%
Other Long-Term Liabilities $2.615M $1.300M $1.000M
YoY Change 161.5% 30.0% 0.0%
Total Long-Term Liabilities $186.8M $191.6M $115.5M
YoY Change 61.74% 118.93% 59.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $119.3M $90.66M $70.56M
Total Long-Term Liabilities $186.8M $191.6M $115.5M
Total Liabilities $330.8M $306.7M $209.2M
YoY Change 58.15% 71.92% 29.92%
SHAREHOLDERS EQUITY
Retained Earnings $572.7M $440.3M $427.5M
YoY Change 33.97% 4.32% 11.86%
Common Stock $82.00K $82.00K $85.00K
YoY Change -3.53% -5.75% -3.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $574.6M $440.4M $427.6M
YoY Change
Total Liabilities & Shareholders Equity $905.4M $747.1M $636.8M
YoY Change 42.2% 24.4% 15.07%

Cashflow Statement

Concept 2016 Q4 2016 Q2 2015 Q4
OPERATING ACTIVITIES
Net Income $60.61M $57.71M $49.45M
YoY Change 22.56% 1177.25% 6.89%
Depreciation, Depletion And Amortization $1.900M $1.600M $1.400M
YoY Change 35.71% -11.11% 40.0%
Cash From Operating Activities $42.90M $45.60M $77.40M
YoY Change -44.57% 150.55% 136.7%
INVESTING ACTIVITIES
Capital Expenditures -$1.700M -$1.400M -$1.200M
YoY Change 41.67% -26.32% -75.51%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.700M -$1.400M -$1.200M
YoY Change 41.67% -26.32% -75.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.000M 4.400M -15.60M
YoY Change -87.18% -120.95% -48.17%
NET CHANGE
Cash From Operating Activities 42.90M 45.60M 77.40M
Cash From Investing Activities -1.700M -1.400M -1.200M
Cash From Financing Activities -2.000M 4.400M -15.60M
Net Change In Cash 39.20M 48.60M 60.60M
YoY Change -35.31% -1134.04% -2734.78%
FREE CASH FLOW
Cash From Operating Activities $42.90M $45.60M $77.40M
Capital Expenditures -$1.700M -$1.400M -$1.200M
Free Cash Flow $44.60M $47.00M $78.60M
YoY Change -43.26% 133.83% 109.04%

Facts In Submission

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15000000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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6250000 USD
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CY2012Q3 us-gaap Loss Contingency New Claims Filed Number
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2 claim
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2015Q4 us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2016Q4 us-gaap Net Income Loss
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1 segment
us-gaap Number Of Reportable Segments
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1 segment
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22605000 USD
us-gaap Operating Expenses
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36274000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
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2000000 USD
CY2016Q4 us-gaap Research And Development Expense
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16338000 USD
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OperatingExpenses
25339000 USD
us-gaap Operating Expenses
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CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
56436000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
116271000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
69800000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due
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14611000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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1085000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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1744000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2576000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
5153000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
375000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
3678000 USD
CY2016Q2 us-gaap Other Assets Miscellaneous Noncurrent
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960000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1488000 USD
CY2016Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1576000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
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CY2016Q4 us-gaap Other Commitment
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us-gaap Other Noncash Income Expense
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us-gaap Other Noncash Income Expense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Payments To Acquire Property Plant And Equipment
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3022000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2836000 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6896000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2016Q2 us-gaap Prepaid Taxes
PrepaidTaxes
299000 USD
CY2016Q4 us-gaap Prepaid Taxes
PrepaidTaxes
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us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
33000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
484000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1287000 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
28397000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
31156000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12953000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12622000 USD
CY2016Q4 us-gaap Purchase Obligation
PurchaseObligation
34700000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000 USD
CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15429000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28990000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
30877000 USD
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
697000 USD
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
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945000 USD
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RetainedEarningsAccumulatedDeficit
440294000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
572690000 USD
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SalesRevenueNet
161871000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
313286000 USD
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SalesRevenueNet
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us-gaap Sales Revenue Net
SalesRevenueNet
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us-gaap Selling General And Administrative Expense
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15575000 USD
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9001000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17864000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1984000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1492000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
10057276 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
1356 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
11.72
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
77850000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
91595000 USD
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2125307 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1636785 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.03
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.84
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
91536000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1635405 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
1.83
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
91595000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1636773 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.84
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.64
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y7M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y22D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P2Y22D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y22D
CY2016Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
10993000 USD
CY2016Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
13493000 USD
CY2015Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2750000 USD
CY2015Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2205000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2236000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3876000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1572000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2835000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1027000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
4475000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
487166 shares
CY2016Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
1309606 shares
CY2016Q2 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
50000000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
440376000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
574606000 USD
CY2016Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
1488000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1576000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
24800000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
800000 USD
CY2015Q4 us-gaap Unusual Or Infrequent Item Net Gain Loss
UnusualOrInfrequentItemNetGainLoss
-257000 USD
us-gaap Unusual Or Infrequent Item Net Gain Loss
UnusualOrInfrequentItemNetGainLoss
-8291000 USD
CY2016Q4 us-gaap Unusual Or Infrequent Item Net Gain Loss
UnusualOrInfrequentItemNetGainLoss
0 USD
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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86091000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87285000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83888000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83875000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
84724000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
85893000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82169000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81990000 shares

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