2019 Q1 Form 10-Q Financial Statement

#000079894919000018 Filed on May 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $189.7M $205.1M
YoY Change -7.53% 16.74%
Cost Of Revenue $103.5M $109.2M
YoY Change -5.25% 13.63%
Gross Profit $24.10M $38.83M
YoY Change -37.95% 18.91%
Gross Profit Margin 12.7% 18.93%
Selling, General & Admin $9.741M $10.80M
YoY Change -9.81% 20.0%
% of Gross Profit 40.43% 27.81%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $62.13M $57.07M
YoY Change 8.87% 21.59%
% of Gross Profit 257.84% 146.95%
Operating Expenses $165.6M $166.3M
YoY Change -0.42% 16.24%
Operating Profit $12.74M $28.23M
YoY Change -54.88% -125.57%
Interest Expense -$15.47M -$16.80M
YoY Change -7.92% -416.98%
% of Operating Profit -121.44% -59.51%
Other Income/Expense, Net -$15.47M -$16.76M
YoY Change -7.73% -413.98%
Pretax Income -$2.726M $11.47M
YoY Change -123.76% -61.59%
Income Tax -$444.0K $3.607M
% Of Pretax Income 31.44%
Net Earnings -$3.504M $7.865M
YoY Change -144.55% -50.62%
Net Earnings / Revenue -1.85% 3.83%
Basic Earnings Per Share -$0.07 $0.15
Diluted Earnings Per Share -$0.07 $0.15
COMMON SHARES
Basic Shares Outstanding 52.56M shares 51.73M shares
Diluted Shares Outstanding 52.56M shares 52.27M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.891M $800.0K
YoY Change 386.38% -90.59%
Cash & Equivalents $3.891M $752.0K
Short-Term Investments
Other Short-Term Assets $30.70M $8.200M
YoY Change 274.34% 12.33%
Inventory $495.0K $500.0K
Prepaid Expenses
Receivables $93.88M $98.51M
Other Receivables $2.054M $100.0K
Total Short-Term Assets $131.0M $108.0M
YoY Change 21.27% 7.05%
LONG-TERM ASSETS
Property, Plant & Equipment $2.497B $2.401B
YoY Change 3.97% 5.63%
Goodwill $62.81M $62.81M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.24M $27.03M
YoY Change 26.66% 75.24%
Total Long-Term Assets $2.598B $2.492B
YoY Change 4.28% 5.95%
TOTAL ASSETS
Total Short-Term Assets $131.0M $108.0M
Total Long-Term Assets $2.598B $2.492B
Total Assets $2.729B $2.600B
YoY Change 4.98% 6.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $132.9M $131.1M
YoY Change 1.4% 74.38%
Accrued Expenses $48.08M $52.96M
YoY Change -9.21% 14.12%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.041M $3.900M
YoY Change 3.62%
Total Short-Term Liabilities $197.7M $210.7M
YoY Change -6.2% 48.17%
LONG-TERM LIABILITIES
Long-Term Debt $685.0M $790.5M
YoY Change -13.34% -0.02%
Other Long-Term Liabilities $103.8M $109.9M
YoY Change -5.56% 7.91%
Total Long-Term Liabilities $788.9M $900.5M
YoY Change -12.39% 0.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $197.7M $210.7M
Total Long-Term Liabilities $788.9M $900.5M
Total Liabilities $986.5M $1.111B
YoY Change -11.22% 7.39%
SHAREHOLDERS EQUITY
Retained Earnings $749.5M $798.1M
YoY Change -6.09% 14.43%
Common Stock $10.58M $10.40M
YoY Change 1.68% 2.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.393B $1.357B
YoY Change
Total Liabilities & Shareholders Equity $2.729B $2.600B
YoY Change 4.98% 6.0%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$3.504M $7.865M
YoY Change -144.55% -50.62%
Depreciation, Depletion And Amortization $62.13M $57.07M
YoY Change 8.87% 21.59%
Cash From Operating Activities $81.19M $83.57M
YoY Change -2.85% 27.29%
INVESTING ACTIVITIES
Capital Expenditures $122.5M $90.25M
YoY Change 35.74% 139.79%
Acquisitions $1.580M $0.00
YoY Change -100.0%
Other Investing Activities $1.610M $22.10M
YoY Change -92.71%
Cash From Investing Activities -$120.9M -$68.17M
YoY Change 77.36% 134.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $37.15M -$15.35M
YoY Change -341.97% -47.15%
NET CHANGE
Cash From Operating Activities $81.19M $83.57M
Cash From Investing Activities -$120.9M -$68.17M
Cash From Financing Activities $37.15M -$15.35M
Net Change In Cash -$2.561M $51.00K
YoY Change -5121.57% -99.33%
FREE CASH FLOW
Cash From Operating Activities $81.19M $83.57M
Capital Expenditures $122.5M $90.25M
Free Cash Flow -$41.32M -$6.681M
YoY Change 518.46% -123.85%

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CY2019Q1 us-gaap Profit Loss
ProfitLoss
-2282000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1222000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-3504000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
205132000 USD
CY2018Q1 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
109233000 USD
CY2018Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
57066000 USD
CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10762000 USD
CY2018Q1 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
161000 USD
CY2018Q1 us-gaap Costs And Expenses
CostsAndExpenses
176900000 USD
CY2018Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
28232000 USD
CY2018Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-10004000 USD
CY2018Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-6762000 USD
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
7865000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-2282000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
122507000 USD
CY2019Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1580000 USD
CY2019Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
3190000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-120897000 USD
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
24000 USD
CY2019Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-2258000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
1222000 USD
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3480000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
7865000 USD
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-176000 USD
CY2018Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
7689000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
0 USD
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
7689000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
77078000 USD
CY2019Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
109800000 USD
CY2019Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
69800000 USD
CY2019Q1 wfx Intercompanyborrowingsadvances
Intercompanyborrowingsadvances
0 USD
CY2019Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
985000 USD
CY2019Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
918000 USD
CY2019Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
3161000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
41258000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-2561000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6452000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3891000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
83568000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
90249000 USD
CY2018Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2018Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
22084000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-68165000 USD
CY2018Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
67400000 USD
CY2018Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
97700000 USD
CY2018Q1 wfx Intercompanyborrowingsadvances
Intercompanyborrowingsadvances
0 USD
CY2018Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
946000 USD
CY2018Q1 us-gaap Proceeds From Repayments Of Bank Overdrafts
ProceedsFromRepaymentsOfBankOverdrafts
15894000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15352000 USD
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
51000 USD
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
701000 USD
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
752000 USD

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