2024 Q3 Form 10-Q Financial Statement

#000074683824000030 Filed on October 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $497.0M
YoY Change 6.97%
Cost Of Revenue $352.0M
YoY Change -4.68%
Gross Profit $145.0M
YoY Change 52.15%
Gross Profit Margin 29.18%
Selling, General & Admin $91.90M
YoY Change -14.99%
% of Gross Profit 63.38%
Research & Development $6.500M
YoY Change 51.16%
% of Gross Profit 4.48%
Depreciation & Amortization $24.30M
YoY Change -30.97%
% of Gross Profit 16.76%
Operating Expenses $98.40M
YoY Change -12.46%
Operating Profit $7.500M
YoY Change -143.86%
Interest Expense -$5.800M
YoY Change -174.36%
% of Operating Profit -77.33%
Other Income/Expense, Net -$8.200M
YoY Change 127.78%
Pretax Income -$8.600M
YoY Change -69.82%
Income Tax $53.30M
% Of Pretax Income
Net Earnings -$61.90M
YoY Change 23.8%
Net Earnings / Revenue -12.45%
Basic Earnings Per Share -$0.89
Diluted Earnings Per Share -$0.89
COMMON SHARES
Basic Shares Outstanding 69.36M shares
Diluted Shares Outstanding 69.36M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $373.7M
YoY Change -2.94%
Cash & Equivalents $373.7M
Short-Term Investments
Other Short-Term Assets $93.10M
YoY Change 5.68%
Inventory $20.10M
Prepaid Expenses
Receivables $460.2M
Other Receivables $0.00
Total Short-Term Assets $947.1M
YoY Change 6.21%
LONG-TERM ASSETS
Property, Plant & Equipment $58.10M
YoY Change -18.05%
Goodwill $248.5M
YoY Change -13.44%
Intangibles $36.60M
YoY Change -18.85%
Long-Term Investments
YoY Change
Other Assets $172.2M
YoY Change -13.86%
Total Long-Term Assets $914.5M
YoY Change -15.26%
TOTAL ASSETS
Total Short-Term Assets $947.1M
Total Long-Term Assets $914.5M
Total Assets $1.862B
YoY Change -5.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.9M
YoY Change -14.42%
Accrued Expenses $272.7M
YoY Change -4.32%
Deferred Revenue $185.0M
YoY Change -8.42%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $7.700M
YoY Change -39.37%
Total Short-Term Liabilities $585.3M
YoY Change -8.52%
LONG-TERM LIABILITIES
Long-Term Debt $488.5M
YoY Change 0.31%
Other Long-Term Liabilities $69.00M
YoY Change 26.61%
Total Long-Term Liabilities $69.00M
YoY Change 26.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $585.3M
Total Long-Term Liabilities $69.00M
Total Liabilities $654.3M
YoY Change -5.76%
SHAREHOLDERS EQUITY
Retained Earnings -$2.169B
YoY Change 21.83%
Common Stock $4.767B
YoY Change 0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$202.2M
YoY Change
Total Liabilities & Shareholders Equity $1.862B
YoY Change -5.55%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income -$61.90M
YoY Change 23.8%
Depreciation, Depletion And Amortization $24.30M
YoY Change -30.97%
Cash From Operating Activities $32.00M
YoY Change -880.49%
INVESTING ACTIVITIES
Capital Expenditures $17.80M
YoY Change -17.59%
Acquisitions
YoY Change
Other Investing Activities $10.60M
YoY Change -983.33%
Cash From Investing Activities -$7.200M
YoY Change -68.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.800M
YoY Change -41.94%
NET CHANGE
Cash From Operating Activities 32.00M
Cash From Investing Activities -7.200M
Cash From Financing Activities -1.800M
Net Change In Cash 23.00M
YoY Change -176.67%
FREE CASH FLOW
Cash From Operating Activities $32.00M
Capital Expenditures $17.80M
Free Cash Flow $14.20M
YoY Change -155.25%

Facts In Submission

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<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions about future events. These estimates and assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities and the reported amounts of revenue and expenses. Such estimates include the valuation of estimated credit losses, contract assets, operating lease right-of-use assets, outsourcing assets, marketable software, goodwill, purchased intangibles and other long-lived assets, legal and environmental contingencies, assumptions used in the calculation for systems integration projects, income taxes and retirement and other post-employment benefits, among others. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ materially from these estimates. Changes in those estimates resulting from continuing changes in the economic environment such as rising interest rates, inflation, fluctuation in foreign exchange rates and conflicts and other events of geopolitical significance, will be reflected in the financial statements in future periods.</span></div>The company’s accounting policies are set forth in detail in Note 1 of the Notes to Consolidated Financial Statements in the company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC. Such Annual Report also contains a discussion of the company’s critical accounting policies and estimates. The company believes that these critical accounting policies and estimates affect its more significant estimates and judgments used in the preparation of the company’s consolidated financial statements.
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CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
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