2013 Q2 Form 10-Q Financial Statement

#000119312513329360 Filed on August 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $89.29M $77.85M
YoY Change 14.69% 5.7%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $900.0K $1.700M
YoY Change -47.06% -37.04%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $7.133M $7.041M
YoY Change 1.31% -32.04%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $41.90M $19.44M
YoY Change 115.53% 94.72%
Income Tax $7.661M $5.259M
% Of Pretax Income 18.28% 27.05%
Net Earnings $34.07M $13.96M
YoY Change 144.05% 124.13%
Net Earnings / Revenue 38.16% 17.93%
Basic Earnings Per Share $0.39 $0.15
Diluted Earnings Per Share $0.39 $0.15
COMMON SHARES
Basic Shares Outstanding 85.66M shares 81.59M shares
Diluted Shares Outstanding 86.52M shares 81.96M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.663B
YoY Change
Cash & Equivalents $383.0M $178.9M
Short-Term Investments $1.280B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $106.1M $107.0M
YoY Change -0.84% -1.83%
Goodwill $23.22M
YoY Change
Intangibles $5.344M
YoY Change
Long-Term Investments
YoY Change
Other Assets $83.00M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $8.594B $7.164B
YoY Change 19.96% 10.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $63.00M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $70.00M $390.0M
YoY Change -82.05% 75.68%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $600.0M $63.00M
YoY Change 852.38% -71.62%
LONG-TERM LIABILITIES
Long-Term Debt $40.00M $37.00M
YoY Change 8.11% -13.95%
Other Long-Term Liabilities $153.0M
YoY Change
Total Long-Term Liabilities $193.0M $37.00M
YoY Change 421.62% -55.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $600.0M $63.00M
Total Long-Term Liabilities $193.0M $37.00M
Total Liabilities $7.794B $6.492B
YoY Change 20.06% 10.18%
SHAREHOLDERS EQUITY
Retained Earnings -$120.2M
YoY Change
Common Stock $9.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $799.3M $672.0M
YoY Change
Total Liabilities & Shareholders Equity $8.594B $7.164B
YoY Change 19.96% 10.08%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $34.07M $13.96M
YoY Change 144.05% 124.13%
Depreciation, Depletion And Amortization $900.0K $1.700M
YoY Change -47.06% -37.04%
Cash From Operating Activities $40.40M $47.30M
YoY Change -14.59% 11.29%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$2.600M
YoY Change -88.46%
Acquisitions
YoY Change
Other Investing Activities -$170.6M -$229.2M
YoY Change -25.57% -521.32%
Cash From Investing Activities -$171.1M -$231.7M
YoY Change -26.15% -525.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -42.70M 183.5M
YoY Change -123.27% 146.97%
NET CHANGE
Cash From Operating Activities 40.40M 47.30M
Cash From Investing Activities -171.1M -231.7M
Cash From Financing Activities -42.70M 183.5M
Net Change In Cash -173.4M -900.0K
YoY Change 19166.67% -100.53%
FREE CASH FLOW
Cash From Operating Activities $40.40M $47.30M
Capital Expenditures -$300.0K -$2.600M
Free Cash Flow $40.70M $49.90M
YoY Change -18.44%

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dei Document Fiscal Year Focus
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dei Document Type
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dei Document Period End Date
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dei Entity Central Index Key
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dei Current Fiscal Year End Date
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dei Trading Symbol
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dei Entity Registrant Name
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us-gaap Prior Period Reclassification Adjustment Description
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Reclassifications</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">Certain amounts in the Consolidated Financial Statements as of December&#xA0;31, 2012 and for the three and six months ended June&#xA0;30, 2013 have been reclassified to conform to the current presentation. The reclassifications have no effect on net income or stockholders&#x2019; equity as previously reported.</font></p> </div>
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CY2013Q2 us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
-3621000
CY2013Q2 us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
-123000
CY2013Q2 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
370000
CY2013Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
22033000
CY2013Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-292000
CY2013Q2 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
1036000
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-17955000
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2013Q2 us-gaap Interest Income Securities Tax Exempt
InterestIncomeSecuritiesTaxExempt
3227000
CY2013Q2 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
1528000
CY2013Q2 us-gaap General Insurance Expense
GeneralInsuranceExpense
2096000
CY2013Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
10898000
CY2013Q2 us-gaap Financing Receivables Impaired Troubled Debt Restructuring Write Down
FinancingReceivablesImpairedTroubledDebtRestructuringWriteDown
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
34016000
CY2013Q2 us-gaap Noninterest Income
NoninterestIncome
10862000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2013Q2 us-gaap Information Technology And Data Processing
InformationTechnologyAndDataProcessing
2175000
CY2013Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86524000 shares
CY2013Q2 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Reclassifications From Nonaccretable Difference
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAccretableYieldReclassificationsFromNonaccretableDifference
1047000
CY2013Q2 us-gaap Trading Securities Realized Gain Loss
TradingSecuritiesRealizedGainLoss
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeTax
-2000
CY2013Q2 us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
10044000
CY2013Q2 us-gaap Gain Loss On Sale Of Securities Net
GainLossOnSaleOfSecuritiesNet
-5000
CY2013Q2 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
68000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
16061000
CY2013Q2 us-gaap Trading Securities Unrealized Holding Gain Loss
TradingSecuritiesUnrealizedHoldingGainLoss
-52000
CY2013Q2 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
78671000
CY2013Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
82152000
CY2013Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
335000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6817000
CY2013Q2 us-gaap Interest And Dividend Income Securities
InterestAndDividendIncomeSecurities
4000
CY2013Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-18005000
CY2013Q2 us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss Included In Trading Revenue
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInTradingRevenue
-3290000
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
11700 shares
CY2013Q2 us-gaap Noninterest Expense
NoninterestExpense
48531000
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33663000
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.39
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
597000
CY2013Q2 us-gaap Occupancy Net
OccupancyNet
4753000
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
717635 shares
CY2013Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1900000
CY2013Q2 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
1200000
CY2013Q2 us-gaap Labor And Related Expense
LaborAndRelatedExpense
28100000
CY2013Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.25
CY2013Q2 us-gaap Interest Expense
InterestExpense
7133000
CY2013Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
-5722000
CY2013Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentForSaleOfSecuritiesIncludedInNetIncomeNetOfTax
3000
CY2013Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.39
CY2013Q2 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-5000
CY2013Q2 us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
47000
CY2013Q2 us-gaap Interest Income Securities Taxable
InterestIncomeSecuritiesTaxable
3616000
CY2013Q2 wal Business Acquisition Pro Forma Non Interest Income
BusinessAcquisitionProFormaNonInterestIncome
849000
CY2013Q2 wal Amortization Of Equity Method Investment Assets
AmortizationOfEquityMethodInvestmentAssets
900000
CY2013Q2 wal Financing Receivable Modification Number Of Contracts
FinancingReceivableModificationNumberOfContracts
15 Contract
CY2013Q2 wal Financing Receivable Modification Post Modification Recorded Investment
FinancingReceivableModificationPostModificationRecordedInvestment
4476000
CY2013Q2 wal Financing Receivable Modification Pre Modification Recorded Investment
FinancingReceivableModificationPreModificationRecordedInvestment
4748000
CY2013Q2 wal Financing Receivable Modification Recorded Investment
FinancingReceivableModificationRecordedInvestment
CY2013Q2 wal Affinity Credit Card Revenue
AffinityCreditCardRevenue
1132000
CY2013Q2 wal Customer Service
CustomerService
717000
CY2013Q2 wal Dividend Income Operating Non Taxable
DividendIncomeOperatingNonTaxable
685000
CY2013Q2 wal Dividend Income Operating Taxable
DividendIncomeOperatingTaxable
294000
CY2013Q2 wal Financing Receivable Modification Number Of Contracts In Payment Default
FinancingReceivableModificationNumberOfContractsInPaymentDefault
Contract
CY2013Q2 wal Financing Receivable Waived Fees And Other Expenses
FinancingReceivableWaivedFeesAndOtherExpenses
49000
CY2013Q2 wal Legal Professional And Director Fees
LegalProfessionalAndDirectorFees
2228000
CY2013Q2 wal Loan And Repossessed Asset Expense
LoanAndRepossessedAssetExpense
721000
CY2013Q2 wal Mark To Market Losses Gains Net
MarkToMarketLossesGainsNet
-3290000
CY2013Q2 wal Net Loss Gain On Sales Valuations Of Repossessed Assets And Bank Premises Net
NetLossGainOnSalesValuationsOfRepossessedAssetsAndBankPremisesNet
-1124000
CY2013Q2 wal Proceeds From Sale Of Other Real Estate Owned Net
ProceedsFromSaleOfOtherRealEstateOwnedNet
-12783000
CY2013Q2 wal Service Charges And Fees Net
ServiceChargesAndFeesNet
2449000
CY2013Q2 wal Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Option Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionGrantsInPeriodWeightedAverageGrantDateFairValue
200000
CY2013Q2 wal Transfers To Other Assets Acquired Through Foreclosure Net
TransfersToOtherAssetsAcquiredThroughForeclosureNet
4664000
CY2013Q2 wal Weighted Average Interest Rates
WeightedAverageInterestRates
0.0332 pure
CY2013Q2 wal Merger Restructure Expense
MergerRestructureExpense
2620000
CY2013Q2 wal Non Interest Expense Related To Discontinued Affinity Credit Card
NonInterestExpenseRelatedToDiscontinuedAffinityCreditCard
1424000
CY2013Q2 wal Financing Receivables Impaired Troubled Debt Restructuring Write Down Due To Interest Concessions
FinancingReceivablesImpairedTroubledDebtRestructuringWriteDownDueToInterestConcessions
272000
CY2013Q2 wal Income Loss From Discontinuing Operations Per Basic Share
IncomeLossFromDiscontinuingOperationsPerBasicShare
0.00
CY2013Q2 wal Interest Expense Junior Subordinated Debt
InterestExpenseJuniorSubordinatedDebt
455000
CY2013Q2 wal Business Acquisition Pro Forma Interest Income Net
BusinessAcquisitionProFormaInterestIncomeNet
78012000
CY2013Q2 wal Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-17958000
CY2013Q2 wal Other Comprehensive Income Loss Amounts Reclassified From Accumulated Other Comprehensive Income Net Of Tax
OtherComprehensiveIncomeLossAmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeNetOfTax
3000
CY2013Q2 wal Increase Decrease In Net Provision For Allowance For Credit Losses
IncreaseDecreaseInNetProvisionForAllowanceForCreditLosses
7200000
CY2013Q2 wal Unrealized Gain Loss On Cash Flow Hedging Instruments Tax
UnrealizedGainLossOnCashFlowHedgingInstrumentsTax
-28000
CY2013Q2 wal Accretion And Amortization Fair Market Value Adjustments Relating To Acquisitions
AccretionAndAmortizationFairMarketValueAdjustmentsRelatingToAcquisitions
-5599000
CY2013Q2 wal Gain Loss On Foreclosed Assets
GainLossOnForeclosedAssets
1641000
CY2013Q2 wal Valuation Adjustments Of Other Repossessed Assets Net
ValuationAdjustmentsOfOtherRepossessedAssetsNet
-566000
CY2013Q2 wal Business Acquisition Purchase Additions Other Real Estate Owned
BusinessAcquisitionPurchaseAdditionsOtherRealEstateOwned
5622000
CY2013Q2 wal Proceeds From Sale Of Other Real Estate Owned Gross
ProceedsFromSaleOfOtherRealEstateOwnedGross
-17422000
CY2013Q2 wal Proceeds From Sale Of Other Real Estate Owned Valuation Allowance
ProceedsFromSaleOfOtherRealEstateOwnedValuationAllowance
4639000
CY2013Q2 wal Gain Loss On Foreclosed Assets Gross
GainLossOnForeclosedAssetsGross
1641000
CY2013Q2 wal Gain Loss On Foreclosed Assets Valuation Allowance
GainLossOnForeclosedAssetsValuationAllowance
CY2013Q2 wal Valuation Adjustments Of Other Repossessed Assets Gross
ValuationAdjustmentsOfOtherRepossessedAssetsGross
CY2013Q2 wal Valuation Adjustments Of Other Repossessed Assets Valuation Allowance
ValuationAdjustmentsOfOtherRepossessedAssetsValuationAllowance
-566000
CY2013Q2 wal Gain Loss On Foreclosed Assets Realized
GainLossOnForeclosedAssetsRealized
23000
CY2013Q2 wal Business Combination Acquisition Related Costs Including Severance
BusinessCombinationAcquisitionRelatedCostsIncludingSeverance
-2479000

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