2017 Q4 Form 10-K Financial Statement

#000087532018000009 Filed on February 15, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $651.6M $578.2M $544.1M
YoY Change 42.06% 39.73% 26.07%
Cost Of Revenue $84.05M $72.87M $71.21M
YoY Change 40.92% 36.92% 61.27%
Gross Profit $567.6M $505.3M $472.9M
YoY Change 42.23% 40.14% 22.06%
Gross Profit Margin 87.1% 87.4% 86.91%
Selling, General & Admin $134.8M $120.7M $127.2M
YoY Change 22.64% 13.82% 13.97%
% of Gross Profit 23.75% 23.89% 26.91%
Research & Development $306.7M $454.9M $289.5M
YoY Change 23.43% 67.03% 6.81%
% of Gross Profit 54.03% 90.04% 61.2%
Depreciation & Amortization $16.40M $15.30M $14.80M
YoY Change 5.81% 5.52% -1.33%
% of Gross Profit 2.89% 3.03% 3.13%
Operating Expenses $441.5M $575.7M $416.7M
YoY Change 23.19% 52.12% 8.9%
Operating Profit $125.7M -$326.0M $52.71M
YoY Change 217.2% 1641.03% 1471.94%
Interest Expense -$12.55M -$13.57M -$14.66M
YoY Change -38.61% -32.6% -27.24%
% of Operating Profit -9.98% -27.82%
Other Income/Expense, Net -$748.0K -$77.55M -$2.537M
YoY Change -167.69% 46338.92% 108.12%
Pretax Income $112.4M -$417.2M $35.51M
YoY Change 453.74% 968.73% -297.03%
Income Tax $10.26M -$125.9M $4.337M
% Of Pretax Income 9.12% 12.21%
Net Earnings $100.7M -$103.0M $18.00M
YoY Change 205.61% 165.06% -127.89%
Net Earnings / Revenue 15.45% -17.81% 3.31%
Basic Earnings Per Share $0.40 -$0.41 $0.07
Diluted Earnings Per Share $0.39 -$0.41 $0.07
COMMON SHARES
Basic Shares Outstanding 251.6M shares 250.3M shares 247.5M shares
Diluted Shares Outstanding 256.8M shares 250.3M shares 251.6M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.089B $1.812B $1.669B
YoY Change 45.57% 60.64% 55.84%
Cash & Equivalents $1.665B $1.385B $1.223B
Short-Term Investments $423.0M $427.0M $446.0M
Other Short-Term Assets $75.74M $154.0M $172.0M
YoY Change 120.18% 29.41% 35.43%
Inventory $111.8M $98.19M $92.26M
Prepaid Expenses $62.48M
Receivables $281.3M $263.5M $247.9M
Other Receivables $29.00M $0.00 $0.00
Total Short-Term Assets $2.649B $2.328B $2.181B
YoY Change 44.63% 55.0% 49.96%
LONG-TERM ASSETS
Property, Plant & Equipment $789.4M $760.0M $740.1M
YoY Change 13.04% 10.52% 7.17%
Goodwill $50.40M $50.38M $50.40M
YoY Change 0.03% 0.0% 0.03%
Intangibles
YoY Change
Long-Term Investments $20.00M $20.00M $20.00M
YoY Change 0.0% -62.26% -39.39%
Other Assets $27.40M $10.54M $9.943M
YoY Change 130.51% 5.4% -29.99%
Total Long-Term Assets $897.1M $870.4M $1.105B
YoY Change -15.79% -21.43% 0.93%
TOTAL ASSETS
Total Short-Term Assets $2.649B $2.328B $2.181B
Total Long-Term Assets $897.1M $870.4M $1.105B
Total Assets $3.546B $3.198B $3.286B
YoY Change 22.41% 22.56% 28.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $73.99M $77.14M $75.94M
YoY Change 20.41% 51.51% 48.03%
Accrued Expenses $444.0M $378.6M $345.1M
YoY Change 40.83% 29.64% 25.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $23.00M $20.00M $18.00M
YoY Change 21.05% -93.67% -92.47%
Total Short-Term Liabilities $807.3M $710.7M $625.4M
YoY Change 1.86% -1.67% 0.41%
LONG-TERM LIABILITIES
Long-Term Debt $584.0M $567.0M $550.0M
YoY Change 12.09% 12.28% -5.5%
Other Long-Term Liabilities $27.77M $26.03M $25.22M
YoY Change -3.22% -14.73% -17.71%
Total Long-Term Liabilities $27.77M $26.03M $25.22M
YoY Change -3.22% -14.73% -17.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $807.3M $710.7M $625.4M
Total Long-Term Liabilities $27.77M $26.03M $25.22M
Total Liabilities $1.504B $1.395B $1.418B
YoY Change -3.52% -0.44% 2.77%
SHAREHOLDERS EQUITY
Retained Earnings -$5.120B -$5.220B -$5.117B
YoY Change -4.73% -3.45% -4.67%
Common Stock $7.160B $7.037B $6.810B
YoY Change 10.0% 9.4% 7.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.029B $1.791B $1.671B
YoY Change
Total Liabilities & Shareholders Equity $3.546B $3.198B $3.286B
YoY Change 22.41% 22.56% 28.9%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $100.7M -$103.0M $18.00M
YoY Change 205.61% 165.06% -127.89%
Depreciation, Depletion And Amortization $16.40M $15.30M $14.80M
YoY Change 5.81% 5.52% -1.33%
Cash From Operating Activities $227.5M $170.1M $181.6M
YoY Change 57.22% 158.9% 345.1%
INVESTING ACTIVITIES
Capital Expenditures -$43.00M -$187.9M -$17.40M
YoY Change 190.54% 1251.8% 9.43%
Acquisitions
YoY Change
Other Investing Activities $22.20M -$37.30M -$58.90M
YoY Change -88.42% -176.59% 40.57%
Cash From Investing Activities -$20.80M -$225.2M -$76.30M
YoY Change -111.76% -747.13% 32.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 73.20M 152.7M 132.1M
YoY Change -21.96% 1031.11% 520.19%
NET CHANGE
Cash From Operating Activities 227.5M 170.1M 181.6M
Cash From Investing Activities -20.80M -225.2M -76.30M
Cash From Financing Activities 73.20M 152.7M 132.1M
Net Change In Cash 279.9M 97.60M 237.4M
YoY Change -32.62% -14.39% 5420.93%
FREE CASH FLOW
Cash From Operating Activities $227.5M $170.1M $181.6M
Capital Expenditures -$43.00M -$187.9M -$17.40M
Free Cash Flow $270.5M $358.0M $199.0M
YoY Change 69.59% 349.75% 250.97%

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248000 USD
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3800000 USD
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3400000 USD
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CY2016 us-gaap Sales Revenue Goods Net
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0.005
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the amounts of revenues and expenses during the reported periods. Significant estimates in these consolidated financial statements have been made in connection with the calculation of revenues, inventories, research and development expenses, stock-based compensation expense, the fair value of intangible assets, goodwill, noncontrolling interest, the consolidation and deconsolidation of VIEs, leases, the fair value of cash flow hedges, deferred tax asset valuation allowances and the provision for or benefit from income taxes. The Company bases its estimates on historical experience and various other assumptions, including in certain circumstances future projections, that management believes to be reasonable under the circumstances. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known.</font></div></div>

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