2017 Q4 Form 10-Q Financial Statement

#000151173718000005 Filed on February 08, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4
Revenue $250.8M $213.5M
YoY Change 17.46% 31.92%
Cost Of Revenue $153.9M $118.4M
YoY Change 30.0% 42.94%
Gross Profit $96.90M $95.14M
YoY Change 1.85% 20.37%
Gross Profit Margin 38.63% 44.55%
Selling, General & Admin $10.35M $9.001M
YoY Change 15.01% 21.1%
% of Gross Profit 10.68% 9.46%
Research & Development $20.47M $16.34M
YoY Change 25.28% 5.89%
% of Gross Profit 21.12% 17.17%
Depreciation & Amortization $1.800M $1.900M
YoY Change -5.26% 35.71%
% of Gross Profit 1.86% 2.0%
Operating Expenses $30.82M $25.34M
YoY Change 21.63% 12.09%
Operating Profit $66.08M $69.80M
YoY Change -5.33% 23.68%
Interest Expense -$2.500M -$1.200M
YoY Change 108.33% 71.43%
% of Operating Profit -3.78% -1.72%
Other Income/Expense, Net -$2.492M -$1.170M
YoY Change 112.99% 79.72%
Pretax Income $63.59M $68.63M
YoY Change -7.35% 23.03%
Income Tax $115.0M $8.022M
% Of Pretax Income 180.85% 11.69%
Net Earnings -$51.46M $60.61M
YoY Change -184.9% 22.56%
Net Earnings / Revenue -20.52% 28.38%
Basic Earnings Per Share -$0.66 $0.74
Diluted Earnings Per Share -$0.66 $0.72
COMMON SHARES
Basic Shares Outstanding 77.65M shares 82.17M shares
Diluted Shares Outstanding 77.65M shares 83.89M shares

Balance Sheet

Concept 2017 Q4 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $823.8M $612.7M
YoY Change 34.45% 23.35%
Cash & Equivalents $823.8M $612.7M
Short-Term Investments
Other Short-Term Assets $65.80M $53.70M
YoY Change 22.53% 536.26%
Inventory $98.89M $104.4M
Prepaid Expenses
Receivables $159.2M $115.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.148B $886.6M
YoY Change 29.44% 43.01%
LONG-TERM ASSETS
Property, Plant & Equipment $15.66M $12.62M
YoY Change 24.05% -5.52%
Goodwill
YoY Change
Intangibles $383.0K $541.0K
YoY Change -29.21% 16.09%
Long-Term Investments
YoY Change
Other Assets $2.151M $2.029M
YoY Change 6.01% 5.79%
Total Long-Term Assets $20.69M $18.85M
YoY Change 9.77% 12.08%
TOTAL ASSETS
Total Short-Term Assets $1.148B $886.6M
Total Long-Term Assets $20.69M $18.85M
Total Assets $1.168B $905.4M
YoY Change 29.03% 42.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.95M $77.57M
YoY Change -84.6% 82.09%
Accrued Expenses $15.00M $7.051M
YoY Change 112.66% 17.3%
Deferred Revenue
YoY Change
Short-Term Debt $14.74M $13.49M
YoY Change 9.26% 34.93%
Long-Term Debt Due $14.70M $13.50M
YoY Change 8.89% 35.0%
Total Short-Term Liabilities $104.9M $119.3M
YoY Change -12.07% 69.05%
LONG-TERM LIABILITIES
Long-Term Debt $453.0M $184.2M
YoY Change 145.91% 59.48%
Other Long-Term Liabilities $4.162M $2.615M
YoY Change 59.16% 161.5%
Total Long-Term Liabilities $457.1M $186.8M
YoY Change 144.69% 61.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.9M $119.3M
Total Long-Term Liabilities $457.1M $186.8M
Total Liabilities $692.3M $330.8M
YoY Change 109.26% 58.15%
SHAREHOLDERS EQUITY
Retained Earnings $475.2M $572.7M
YoY Change -17.03% 33.97%
Common Stock $78.00K $82.00K
YoY Change -4.88% -3.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $476.0M $574.6M
YoY Change
Total Liabilities & Shareholders Equity $1.168B $905.4M
YoY Change 29.03% 42.2%

Cashflow Statement

Concept 2017 Q4 2016 Q4
OPERATING ACTIVITIES
Net Income -$51.46M $60.61M
YoY Change -184.9% 22.56%
Depreciation, Depletion And Amortization $1.800M $1.900M
YoY Change -5.26% 35.71%
Cash From Operating Activities $68.80M $42.90M
YoY Change 60.37% -44.57%
INVESTING ACTIVITIES
Capital Expenditures -$3.300M -$1.700M
YoY Change 94.12% 41.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.300M -$1.700M
YoY Change 94.12% 41.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 126.5M -2.000M
YoY Change -6425.0% -87.18%
NET CHANGE
Cash From Operating Activities 68.80M 42.90M
Cash From Investing Activities -3.300M -1.700M
Cash From Financing Activities 126.5M -2.000M
Net Change In Cash 192.0M 39.20M
YoY Change 389.8% -35.31%
FREE CASH FLOW
Cash From Operating Activities $68.80M $42.90M
Capital Expenditures -$3.300M -$1.700M
Free Cash Flow $72.10M $44.60M
YoY Change 61.66% -43.26%

Facts In Submission

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23466000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
25339000 USD
us-gaap Operating Expenses
OperatingExpenses
48741000 USD
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
30820000 USD
us-gaap Operating Expenses
OperatingExpenses
55413000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
69800000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
144702000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
66080000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
153143000 USD
CY2017Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1768000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2963000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3383000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
604000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
12281000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1047000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1811000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2473000 USD
CY2017Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
1891000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2328000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2151000 USD
CY2017Q4 us-gaap Other Commitment
OtherCommitment
900000 USD
CY2017Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
33030000 USD
CY2017Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
65600000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2615000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2615000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
4162000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1034000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-411000 USD
CY2016Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1170000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2269000 USD
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2492000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3853000 USD
CY2016Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
27000 USD
CY2017Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
1528000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2836000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6195000 USD
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9026000 USD
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11295000 USD
CY2017Q2 us-gaap Prepaid Taxes
PrepaidTaxes
2419000 USD
CY2017Q4 us-gaap Prepaid Taxes
PrepaidTaxes
0 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
218500000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1287000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
849000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
34708000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
40662000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12916000 USD
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15657000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
5000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7500000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16338000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
30877000 USD
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20468000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
37396000 USD
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
945000 USD
us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
487000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
601159000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
475181000 USD
CY2016Q4 us-gaap Sales Revenue Net
SalesRevenueNet
213536000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
418293000 USD
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
250811000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
496679000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9001000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17864000 USD
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10352000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18017000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1492000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1691000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
10010412 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
81413000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
106218000 USD
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1621601 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1523934 shares
CY2017Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.76
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.32
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
106218000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1523934 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
1.32
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
106218000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1523934 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.32
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.70
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y6M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9M26D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P9M26D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9M26D
CY2017Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
14743000 USD
CY2017Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
14743000 USD
CY2016Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2236000 USD
CY2016Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3876000 USD
CY2017Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3601000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3984000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2835000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2647000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
1144000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
-343000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3331000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3373000 USD
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
97667 shares
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
601764000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
476030000 USD
CY2017Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
1707000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
27600000 USD
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
12588000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
2100000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-1200000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
-1200000 USD
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
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77654000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80494000 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
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77654000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78895000 shares

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