2012 Q2 Form 10-Q Financial Statement

#000110465912051674 Filed on July 27, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $136.5M $264.8M
YoY Change -48.44% 20.75%
Cost Of Revenue $75.29M $129.5M
YoY Change -41.84% 8.7%
Gross Profit $61.25M $135.3M
YoY Change -54.74% 35.08%
Gross Profit Margin 44.86% 51.11%
Selling, General & Admin $20.89M $27.46M
YoY Change -23.92% 50.06%
% of Gross Profit 34.11% 20.29%
Research & Development $23.91M $23.65M
YoY Change 1.09% 116.99%
% of Gross Profit 39.03% 17.47%
Depreciation & Amortization $4.100M $3.100M
YoY Change 32.26% -6.06%
% of Gross Profit 6.69% 2.29%
Operating Expenses $46.13M $52.38M
YoY Change -11.92% 71.73%
Operating Profit $15.12M $82.97M
YoY Change -81.78% 19.04%
Interest Expense $300.0K -$100.0K
YoY Change -400.0% -94.44%
% of Operating Profit 1.98% -0.12%
Other Income/Expense, Net
YoY Change
Pretax Income $15.45M $79.84M
YoY Change -80.65% 17.41%
Income Tax $4.438M $23.52M
% Of Pretax Income 28.73% 29.46%
Net Earnings $11.80M $19.21M
YoY Change -38.56% -63.35%
Net Earnings / Revenue 8.64% 7.25%
Basic Earnings Per Share $0.31 $0.47
Diluted Earnings Per Share $0.30 $0.45
COMMON SHARES
Basic Shares Outstanding 38.37M shares 41.00M shares
Diluted Shares Outstanding 38.99M shares 43.00M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $538.9M $578.2M
YoY Change -6.8% 39.36%
Cash & Equivalents $317.0M $197.7M
Short-Term Investments $221.8M $380.5M
Other Short-Term Assets $39.70M $133.7M
YoY Change -70.31% 510.5%
Inventory $90.73M $113.3M
Prepaid Expenses
Receivables $95.13M $128.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $764.5M $953.2M
YoY Change -19.8% 44.05%
LONG-TERM ASSETS
Property, Plant & Equipment $97.07M $62.40M
YoY Change 55.56% 5.58%
Goodwill $55.83M
YoY Change
Intangibles $23.48M
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.137M $9.300M
YoY Change -1.75% 933.33%
Total Long-Term Assets $185.5M $167.2M
YoY Change 10.95% 15.55%
TOTAL ASSETS
Total Short-Term Assets $764.5M $953.2M
Total Long-Term Assets $185.5M $167.2M
Total Assets $950.0M $1.120B
YoY Change -15.21% 38.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $32.65M $60.00M
YoY Change -45.58% 17.65%
Accrued Expenses $95.17M $195.0M
YoY Change -51.2% 23.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $258.0K $200.0K
YoY Change 29.0% 0.0%
Total Short-Term Liabilities $145.1M $268.8M
YoY Change -46.02% 16.06%
LONG-TERM LIABILITIES
Long-Term Debt $2.275M $2.500M
YoY Change -9.0% -97.56%
Other Long-Term Liabilities $324.0K $300.0K
YoY Change 8.0% -25.0%
Total Long-Term Liabilities $2.599M $2.800M
YoY Change -7.18% -97.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $145.1M $268.8M
Total Long-Term Liabilities $2.599M $2.800M
Total Liabilities $147.7M $271.6M
YoY Change -45.62% -18.78%
SHAREHOLDERS EQUITY
Retained Earnings $93.43M
YoY Change
Common Stock $697.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $797.3M $848.8M
YoY Change
Total Liabilities & Shareholders Equity $950.0M $1.120B
YoY Change -15.21% 38.94%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $11.80M $19.21M
YoY Change -38.56% -63.35%
Depreciation, Depletion And Amortization $4.100M $3.100M
YoY Change 32.26% -6.06%
Cash From Operating Activities $18.70M $400.0K
YoY Change 4575.0% -99.4%
INVESTING ACTIVITIES
Capital Expenditures -$8.100M -$21.90M
YoY Change -63.01% 346.94%
Acquisitions
YoY Change
Other Investing Activities $29.20M $38.70M
YoY Change -24.55% -62.06%
Cash From Investing Activities $21.10M $16.80M
YoY Change 25.6% -82.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.800M
YoY Change 27.87%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.200M -97.40M
YoY Change -101.23% -2805.56%
NET CHANGE
Cash From Operating Activities 18.70M 400.0K
Cash From Investing Activities 21.10M 16.80M
Cash From Financing Activities 1.200M -97.40M
Net Change In Cash 41.00M -80.20M
YoY Change -151.12% -147.77%
FREE CASH FLOW
Cash From Operating Activities $18.70M $400.0K
Capital Expenditures -$8.100M -$21.90M
Free Cash Flow $26.80M $22.30M
YoY Change 20.18% -69.07%

Facts In Submission

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veco Incremental Common Shares Attributable To Conversion Of Debt Securities Treasury Stock Method
IncrementalCommonSharesAttributableToConversionOfDebtSecuritiesTreasuryStockMethod
1200000 shares
CY2012Q2 us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
300000 USD
us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
300000 USD
CY2011Q2 us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
100000 USD
us-gaap Gain Loss On Foreign Currency Derivatives Recorded In Earnings Net
GainLossOnForeignCurrencyDerivativesRecordedInEarningsNet
400000 USD
CY2012Q2 us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
-200000 USD
us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
-100000 USD
CY2011Q2 us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
300000 USD
us-gaap Gain On Derivative Instruments Pretax
GainOnDerivativeInstrumentsPretax
800000 USD
CY2012Q2 us-gaap Notional Amount Of Foreign Currency Derivatives
NotionalAmountOfForeignCurrencyDerivatives
600000 USD
CY2012Q2 veco Weighted Average Notional Amount Of Derivatives
WeightedAverageNotionalAmountOfDerivatives
1300000 USD
veco Weighted Average Notional Amount Of Derivatives
WeightedAverageNotionalAmountOfDerivatives
2500000 USD
CY2012Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
-1219000 USD
CY2012Q2 veco Discontinued Operation Income Loss From Discontinued Operation Before Income Tax Excluding Gain On Disposal
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTaxExcludingGainOnDisposal
1219000 USD
CY2011Q2 veco Discontinued Operation Income Loss From Discontinued Operation Before Income Tax Excluding Gain On Disposal
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTaxExcludingGainOnDisposal
-59698000 USD
CY2011Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
24417000 USD
CY2011Q2 us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
-35281000 USD
CY2011Q2 us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
35281000 USD
us-gaap Disposal Group Including Discontinued Operation Costs Of Goods Sold
DisposalGroupIncludingDiscontinuedOperationCostsOfGoodsSold
36912000 USD
us-gaap Disposal Group Including Discontinued Operation Gross Profit Loss
DisposalGroupIncludingDiscontinuedOperationGrossProfitLoss
-36912000 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
-1138000 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
30823000 USD
veco Discontinued Operation Income Loss From Discontinued Operation Before Income Tax Excluding Gain On Disposal
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTaxExcludingGainOnDisposal
1138000 USD
veco Discontinued Operation Income Loss From Discontinued Operation Before Income Tax Excluding Gain On Disposal
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTaxExcludingGainOnDisposal
-67735000 USD
CY2012Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4014000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7144000 USD
veco Number Of Weeks In Fiscal Quarter52 Week Year
NumberOfWeeksInFiscalQuarter52WeekYear
P91D
CY2012Q2 us-gaap Available For Sale Securities Gross Unrealized Losses1
AvailableForSaleSecuritiesGrossUnrealizedLosses1
1000 USD
CY2012Q2 us-gaap Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
27000 USD
CY2012Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
221806000 USD
CY2011Q4 us-gaap Available For Sale Securities Fair Value Disclosure
AvailableForSaleSecuritiesFairValueDisclosure
273591000 USD
CY2011Q4 us-gaap Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
219000 USD
CY2011Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
273372000 USD
CY2012Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
191081000 USD
CY2012Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
30751000 USD
CY2012Q2 us-gaap Available For Sale Securities Fair Value Disclosure
AvailableForSaleSecuritiesFairValueDisclosure
221832000 USD
CY2012Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
500000 USD
CY2011Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
500000 USD
CY2011Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
36147000 USD
CY2012Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
13688000 USD
CY2011Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
20118000 USD
CY2012Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
22049000 USD
CY2011Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
57169000 USD
CY2012Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
54992000 USD
CY2011Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
10592000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
7459000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4489000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
3821000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5843000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1502000 USD
CY2010Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9238000 USD
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
9778000 USD
CY2012Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
55900000 USD
CY2011Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
252000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
532000 USD
veco Income Loss From Continuing Operations Before Interest Income Taxes Amortization And Others Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesAmortizationAndOthersMinorityInterestAndIncomeLossFromEquityMethodInvestments
45673000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1385000 USD
veco Income Loss From Continuing Operations Before Interest Income Taxes Amortization And Others Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesAmortizationAndOthersMinorityInterestAndIncomeLossFromEquityMethodInvestments
178937000 USD
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
15449000 USD
CY2012Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1185000 USD
CY2012Q2 veco Income Loss From Continuing Operations Before Interest Income Taxes Amortization And Others Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesAmortizationAndOthersMinorityInterestAndIncomeLossFromEquityMethodInvestments
20319000 USD
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
136547000 USD
CY2011Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-86000 USD
CY2011Q2 veco Income Loss From Continuing Operations Before Interest Income Taxes Amortization And Others Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeInterestIncomeTaxesAmortizationAndOthersMinorityInterestAndIncomeLossFromEquityMethodInvestments
88021000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 item

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