2013 Q4 Form 10-K Financial Statement

#000110465914011834 Filed on February 20, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $48.64M $38.36M $33.31M
YoY Change 53.1% 23.66% 15.38%
Cost Of Revenue $15.60M $11.90M $10.10M
YoY Change 57.58% 21.43% 10.99%
Gross Profit $33.02M $26.44M $23.18M
YoY Change 50.75% 24.5% 17.37%
Gross Profit Margin 67.88% 68.92% 69.59%
Selling, General & Admin $8.800M $8.313M $5.548M
YoY Change 66.04% 84.36% 17.43%
% of Gross Profit 26.65% 31.44% 23.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.70M $12.57M $11.40M
YoY Change 38.94% 23.6% 20.29%
% of Gross Profit 47.55% 47.56% 49.18%
Operating Expenses $24.60M $33.56M $27.98M
YoY Change 20.0% 32.78% 16.0%
Operating Profit $8.418M $4.802M $5.328M
YoY Change 500.0% -16.43% 12.21%
Interest Expense -$3.500M $3.029M $2.871M
YoY Change -18.6% -30.99% -22.73%
% of Operating Profit -41.58% 63.08% 53.88%
Other Income/Expense, Net $0.00 -$3.027M -$2.869M
YoY Change -30.91% -22.54%
Pretax Income $4.500M $1.775M $2.459M
YoY Change -255.17% 30.04% 135.42%
Income Tax $100.0K $63.00K $58.00K
% Of Pretax Income 2.22% 3.55% 2.36%
Net Earnings $4.400M $1.700M $2.400M
YoY Change -246.67% 30.77% 140.0%
Net Earnings / Revenue 9.05% 4.43% 7.21%
Basic Earnings Per Share
Diluted Earnings Per Share $116.1K $53.13K $81.91K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $0.00
YoY Change
Cash & Equivalents $7.000K $7.000K $7.000K
Short-Term Investments
Other Short-Term Assets $2.400M $1.600M $1.400M
YoY Change 33.33% 100.0% 27.27%
Inventory $9.940M $7.349M $5.880M
Prepaid Expenses $2.400M $1.584M $1.430M
Receivables $20.08M $14.03M $10.83M
Other Receivables $350.0K $193.0K $46.39K
Total Short-Term Assets $32.78M $23.16M $18.19M
YoY Change 121.8% 49.44% 29.95%
LONG-TERM ASSETS
Property, Plant & Equipment $853.0M $815.3M $641.6M
YoY Change 39.8% 39.11% 13.74%
Goodwill $208.1M $207.8M $157.1M
YoY Change 32.46%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.146M $3.913M $4.380M
YoY Change -32.54% -55.53% -52.4%
Total Long-Term Assets $1.153B $1.114B $883.1M
YoY Change 34.42% 33.5% 8.57%
TOTAL ASSETS
Total Short-Term Assets $32.78M $23.16M $18.19M
Total Long-Term Assets $1.153B $1.114B $883.1M
Total Assets $1.186B $1.137B $901.3M
YoY Change 35.9% 33.79% 8.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.63M $10.33M $4.552M
YoY Change 225.12% 54.1% -73.69%
Accrued Expenses $10.41M $16.25M $7.022M
YoY Change 86.26% 100.62% 25.39%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $56.95M $38.25M $22.70M
YoY Change 112.09% 52.39% -32.25%
LONG-TERM LIABILITIES
Long-Term Debt $420.9M $390.3M $353.0M
YoY Change -16.19% -19.04% -22.03%
Other Long-Term Liabilities $300.0K $200.0K $100.0K
YoY Change
Total Long-Term Liabilities $420.9M $390.3M $353.0M
YoY Change -16.19% -19.04% -22.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $56.95M $38.25M $22.70M
Total Long-Term Liabilities $420.9M $390.3M $353.0M
Total Liabilities $477.9M $428.6M $375.6M
YoY Change -9.68% -15.51% -22.72%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $707.7M $708.3M $525.6M
YoY Change
Total Liabilities & Shareholders Equity $1.186B $1.137B $901.3M
YoY Change 35.9% 33.79% 8.93%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income $4.400M $1.700M $2.400M
YoY Change -246.67% 30.77% 140.0%
Depreciation, Depletion And Amortization $15.70M $12.57M $11.40M
YoY Change 38.94% 23.6% 20.29%
Cash From Operating Activities $26.50M $16.20M $16.10M
YoY Change 128.45% 30.65% 19.26%
INVESTING ACTIVITIES
Capital Expenditures -$50.60M -$56.00M -$29.50M
YoY Change 60.63% 33.65% -53.32%
Acquisitions
YoY Change
Other Investing Activities $1.800M $3.700M $100.0K
YoY Change 3600.0% -92.31%
Cash From Investing Activities -$48.80M -$52.30M -$29.50M
YoY Change 54.92% 25.12% -52.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.40M 36.10M 13.30M
YoY Change 12.56% 22.79% -72.58%
NET CHANGE
Cash From Operating Activities 26.50M 16.20M 16.10M
Cash From Investing Activities -48.80M -52.30M -29.50M
Cash From Financing Activities 22.40M 36.10M 13.30M
Net Change In Cash 100.0K -0.000000007451 -100.0K
YoY Change -894784853333366.8% -20.0%
FREE CASH FLOW
Cash From Operating Activities $26.50M $16.20M $16.10M
Capital Expenditures -$50.60M -$56.00M -$29.50M
Free Cash Flow $77.10M $72.20M $45.60M
YoY Change 78.89% 32.97% -40.55%

Facts In Submission

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IncomeLossAttributableToParent
997000 USD
CY2012Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
1316000 USD
CY2013Q1 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
2521000 USD
CY2013Q2 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
2401000 USD
CY2013Q3 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
1712000 USD
CY2013Q4 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
4437000 USD
CY2012Q1 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
12000 USD
CY2012Q2 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
10000 USD
CY2012Q3 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
13000 USD
CY2012Q4 us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
10000 USD
CY2012Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
1231000 USD
CY2012Q2 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
987000 USD
CY2012Q3 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
1303000 USD
CY2012Q4 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
938000 USD
CY2012Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
259638 USD
CY2013Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
246410 USD
CY2013 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
0 USD
CY2013 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
7600000 USD
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3211000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
3584000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
3584000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3584000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3509000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3359000 USD
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.25in;"><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">(j)</font></i><i><font style="FONT-STYLE: italic; FONT-SIZE: 3pt;" size="1">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></i> <i><font style="FONT-STYLE: italic; FONT-SIZE: 10pt;" size="2">Use of Estimates</font></i></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> <p style="TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The preparation of the consolidated financial statements of the Partnership in conformity with accounting principles generally accepted in the United States of America requires the management of the Partnership to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and the accompanying results. Actual results could differ from these estimates.</font></p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.25in;">&#160;</p> </div>
CY2011 us-gaap Restructuring Charges
RestructuringCharges
300000 USD
CY2011 us-gaap Depreciation
Depreciation
29700000 USD
CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
68012000 USD
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
116791000 USD
CY2013Q1 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
0.07
CY2010Q4 us-gaap Partners Capital
PartnersCapital
338954000 USD
CY2013 us-gaap Partners Capital Account Public Sale Of Units Net Of Offering Costs
PartnersCapitalAccountPublicSaleOfUnitsNetOfOfferingCosts
180555000 USD
CY2011Q4 us-gaap Partners Capital
PartnersCapital
339023000 USD
CY2013 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
4251000 USD
CY2012 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
4503000 USD
CY2013 us-gaap Distribution Made To Limited Partner Distributions Paid Per Unit
DistributionMadeToLimitedPartnerDistributionsPaidPerUnit
1.25
CY2011 usac Payments For Compression Unit Purchase Deposit
PaymentsForCompressionUnitPurchaseDeposit
7975000 USD
CY2013 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
41224000 USD
CY2013 us-gaap Partners Capital Account Sale Of Units
PartnersCapitalAccountSaleOfUnits
26286000 USD
CY2013 us-gaap Partners Capital Account Unit Based Compensation
PartnersCapitalAccountUnitBasedCompensation
1343000 USD
CY2013 us-gaap Partners Capital Account Acquisitions
PartnersCapitalAccountAcquisitions
181919000 USD
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2013Q2 dei Entity Public Float
EntityPublicFloat
258535875 USD
CY2013Q1 us-gaap Partners Capital Account Public Sale Of Units Net Of Offering Costs
PartnersCapitalAccountPublicSaleOfUnitsNetOfOfferingCosts
180500000 USD
CY2013 us-gaap Asset Impairment Charges
AssetImpairmentCharges
203000 USD
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
81552000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
85941000 USD
CY2013 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-3374000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Limited Partners Units
ProceedsFromIssuanceOfCommonLimitedPartnersUnits
180555000 USD
CY2013 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
14669000 USD
CY2013 us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
4251000 USD
CY2013Q2 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
0.08
CY2013Q3 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
0.05
CY2013Q4 us-gaap Net Income Loss Per Outstanding Limited Partnership Unit Basic Net Of Tax
NetIncomeLossPerOutstandingLimitedPartnershipUnitBasicNetOfTax
0.12
CY2013Q1 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
0.07
CY2013Q2 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
0.08
CY2013Q3 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
0.05
CY2013Q4 us-gaap Net Income Loss Net Of Tax Per Outstanding Limited Partnership Unit Diluted
NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted
0.12
CY2013Q1 us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
535000 USD
us-gaap Income Loss Attributable To Parent
IncomeLossAttributableToParent
10536000 USD
usac Net Income Loss Subsequent To Initial Public Offering
NetIncomeLossSubsequentToInitialPublicOffering
10536000 USD
us-gaap Net Income Loss Allocated To General Partners
NetIncomeLossAllocatedToGeneralPartners
211000 USD

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