2024 Q3 Form 10-Q Financial Statement

#000167007624000123 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $935.0M $973.0M
YoY Change 5.89% 0.62%
Cost Of Revenue $438.0M $435.0M
YoY Change -0.68% 10.97%
Gross Profit $497.0M $538.0M
YoY Change 12.44% -6.43%
Gross Profit Margin 53.16% 55.29%
Selling, General & Admin $499.0M $496.0M
YoY Change 12.64% 15.08%
% of Gross Profit 100.4% 92.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.00M $18.00M
YoY Change 46.15% 50.0%
% of Gross Profit 3.82% 3.35%
Operating Expenses $477.0M $513.0M
YoY Change -3.83% 3.43%
Operating Profit $19.00M $25.00M
YoY Change -135.19% -68.35%
Interest Expense $8.000M $7.000M
YoY Change -11.11% -22.22%
% of Operating Profit 42.11% 28.0%
Other Income/Expense, Net $8.000M $7.000M
YoY Change -11.11% -22.22%
Pretax Income $27.00M $32.00M
YoY Change -160.0% -63.64%
Income Tax $1.000M $1.000M
% Of Pretax Income 3.7% 3.13%
Net Earnings $26.00M $31.00M
YoY Change -181.25% -56.34%
Net Earnings / Revenue 2.78% 3.19%
Basic Earnings Per Share $0.11 $0.14
Diluted Earnings Per Share $0.11 $0.14
COMMON SHARES
Basic Shares Outstanding 224.5M shares 224.0M shares
Diluted Shares Outstanding 225.7M shares 226.6M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $576.0M $658.0M
YoY Change -10.0% -15.64%
Cash & Equivalents $576.0M $658.0M
Short-Term Investments
Other Short-Term Assets $111.0M $116.0M
YoY Change -0.89% 58.9%
Inventory
Prepaid Expenses $19.00M $18.00M
Receivables $147.0M $95.00M
Other Receivables $79.00M $82.00M
Total Short-Term Assets $910.0M $947.0M
YoY Change -2.78% -6.14%
LONG-TERM ASSETS
Property, Plant & Equipment $367.0M $350.0M
YoY Change 30.14% -87.92%
Goodwill
YoY Change
Intangibles $27.00M $27.00M
YoY Change -3.57% -3.57%
Long-Term Investments
YoY Change
Other Assets $409.0M $384.0M
YoY Change 17.19% -50.32%
Total Long-Term Assets $4.916B $4.742B
YoY Change 22.93% 28.2%
TOTAL ASSETS
Total Short-Term Assets $910.0M $947.0M
Total Long-Term Assets $4.916B $4.742B
Total Assets $5.826B $5.689B
YoY Change 18.05% 20.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $128.0M $137.0M
YoY Change 17.43% 50.55%
Accrued Expenses $758.0M $744.0M
YoY Change 13.81% 18.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $190.0M $263.0M
YoY Change -28.57% 10.97%
Total Short-Term Liabilities $1.724B $1.821B
YoY Change 2.07% 10.7%
LONG-TERM LIABILITIES
Long-Term Debt $279.0M $189.0M
YoY Change 26.82% -2.07%
Other Long-Term Liabilities $114.0M $110.0M
YoY Change -10.94% -95.23%
Total Long-Term Liabilities $393.0M $299.0M
YoY Change 12.93% -88.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.724B $1.821B
Total Long-Term Liabilities $393.0M $299.0M
Total Liabilities $5.277B $5.169B
YoY Change 20.1% 24.79%
SHAREHOLDERS EQUITY
Retained Earnings $142.0M $116.0M
YoY Change -4.05% -35.56%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $549.0M $520.0M
YoY Change
Total Liabilities & Shareholders Equity $5.826B $5.689B
YoY Change 18.05% 20.84%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $26.00M $31.00M
YoY Change -181.25% -56.34%
Depreciation, Depletion And Amortization $19.00M $18.00M
YoY Change 46.15% 50.0%
Cash From Operating Activities -$156.0M $9.000M
YoY Change -9.83% -200.0%
INVESTING ACTIVITIES
Capital Expenditures $14.00M $31.00M
YoY Change 0.0% 158.33%
Acquisitions
YoY Change
Other Investing Activities $2.000M $4.000M
YoY Change -104.55% -112.9%
Cash From Investing Activities -$12.00M -$27.00M
YoY Change -79.31% -37.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 86.00M 54.00M
YoY Change -5.49% 28.57%
NET CHANGE
Cash From Operating Activities -156.0M 9.000M
Cash From Investing Activities -12.00M -27.00M
Cash From Financing Activities 86.00M 54.00M
Net Change In Cash -82.00M 36.00M
YoY Change -41.43% -460.0%
FREE CASH FLOW
Cash From Operating Activities -$156.0M $9.000M
Capital Expenditures $14.00M $31.00M
Free Cash Flow -$170.0M -$22.00M
YoY Change -9.09% 4.76%

Facts In Submission

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<div style="margin-bottom:12pt;text-indent:18pt"><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 that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates.</span></div>
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