2018 Q2 Form 10-Q Financial Statement

#000160466518000013 Filed on May 03, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q1
Revenue $302.0M $284.3M $277.4M
YoY Change 4.09% 2.46% 9.84%
Cost Of Revenue $204.9M $191.8M $179.5M
YoY Change 7.51% 6.84% 26.23%
Gross Profit $97.12M $92.51M $97.96M
YoY Change -2.46% -5.57% -11.28%
Gross Profit Margin 32.16% 32.54% 35.31%
Selling, General & Admin $7.375M $7.133M $7.828M
YoY Change 7.1% -8.88% 28.39%
% of Gross Profit 7.59% 7.71% 7.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.04M $27.70M $30.15M
YoY Change -0.93% -8.13% 47.82%
% of Gross Profit 22.7% 29.94% 30.78%
Operating Expenses $7.375M $7.133M $7.828M
YoY Change 7.1% -8.88% 28.39%
Operating Profit $89.74M $85.37M $90.13M
YoY Change -3.17% -5.28% -13.6%
Interest Expense -$5.500M -$4.900M -$5.500M
YoY Change -6.78% -10.91% 358.33%
% of Operating Profit -6.13% -5.74% -6.1%
Other Income/Expense, Net $583.0K $491.0K $1.658M
YoY Change 2329.17% -70.39% 1873.81%
Pretax Income $84.78M $81.00M $86.33M
YoY Change -2.29% -6.18% -16.32%
Income Tax $303.0K $283.0K $303.0K
% Of Pretax Income 0.36% 0.35% 0.35%
Net Earnings $12.76M $12.30M $9.764M
YoY Change 27.89% 25.92% -19.2%
Net Earnings / Revenue 4.22% 4.33% 3.52%
Basic Earnings Per Share
Diluted Earnings Per Share $397.5K $382.0K $361.6K
COMMON SHARES
Basic Shares Outstanding 32.24M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.50M $25.00M $123.0M
YoY Change -72.83% -79.67% -31.17%
Cash & Equivalents $28.48M $24.98M $123.0M
Short-Term Investments
Other Short-Term Assets $100.0K $200.0K $200.0K
YoY Change 0.0% 0.0%
Inventory $6.128M $5.171M $4.776M
Prepaid Expenses
Receivables $208.1M $197.0M $101.8M
Other Receivables $0.00 $0.00 $118.0K
Total Short-Term Assets $242.8M $227.3M $229.8M
YoY Change 19.21% -1.1% -5.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.173B $1.183B $1.223B
YoY Change -3.86% -3.26% 11.57%
Goodwill $5.814M $5.814M $5.814M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $70.30M $76.10M $103.7M
YoY Change -28.67% -26.64% 134.73%
Total Long-Term Assets $1.249B $1.265B $1.327B
YoY Change -5.27% -4.65% 16.35%
TOTAL ASSETS
Total Short-Term Assets $242.8M $227.3M $229.8M
Total Long-Term Assets $1.249B $1.265B $1.327B
Total Assets $1.492B $1.493B $1.557B
YoY Change -2.0% -4.12% 12.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.390M $7.798M $15.30M
YoY Change 4.06% -49.02% -48.01%
Accrued Expenses $19.00M $15.15M $24.12M
YoY Change 24.73% -37.19% -34.14%
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 $47.62M $37.29M $46.65M
YoY Change 30.85% -20.06% -36.4%
LONG-TERM LIABILITIES
Long-Term Debt $477.6M $477.6M $600.2M
YoY Change -18.82% -20.43% 35.33%
Other Long-Term Liabilities $146.0K $114.0K $136.0K
YoY Change -13.1% -16.18% -67.62%
Total Long-Term Liabilities $146.0K $114.0K $136.0K
YoY Change -13.1% -16.18% -67.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.62M $37.29M $46.65M
Total Long-Term Liabilities $146.0K $114.0K $136.0K
Total Liabilities $527.7M $517.3M $648.8M
YoY Change -15.81% -20.27% 25.05%
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 $218.2M $219.1M $102.9M
YoY Change
Total Liabilities & Shareholders Equity $1.492B $1.493B $1.557B
YoY Change -2.0% -4.12% 12.48%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $12.76M $12.30M $9.764M
YoY Change 27.89% 25.92% -19.2%
Depreciation, Depletion And Amortization $22.04M $27.70M $30.15M
YoY Change -0.93% -8.13% 47.82%
Cash From Operating Activities $114.4M $106.2M $149.1M
YoY Change 1.06% -28.75% 32.43%
INVESTING ACTIVITIES
Capital Expenditures -$6.900M $9.679M $23.17M
YoY Change -66.83% -58.22% -70.71%
Acquisitions
YoY Change
Other Investing Activities -$8.700M $2.000M $1.700M
YoY Change -8800.0% 17.65% 1600.0%
Cash From Investing Activities -$15.70M -$7.679M -$21.49M
YoY Change -24.15% -64.26% -72.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -95.10M -$100.6M -$93.52M
YoY Change -14.01% 7.54% 282.25%
NET CHANGE
Cash From Operating Activities 114.4M $106.2M $149.1M
Cash From Investing Activities -15.70M -$7.679M -$21.49M
Cash From Financing Activities -95.10M -$100.6M -$93.52M
Net Change In Cash 3.600M -$2.028M $34.07M
YoY Change -119.89% -105.95% 273.74%
FREE CASH FLOW
Cash From Operating Activities $114.4M $106.2M $149.1M
Capital Expenditures -$6.900M $9.679M $23.17M
Free Cash Flow $121.3M $96.54M $125.9M
YoY Change -9.48% -23.32% 276.03%

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MaturitiesofinvestmentswithWestlakeundertheInvestmentManagementAgreement
112000000 USD
CY2017Q4 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
136510000 USD
CY2018Q1 wlkp Receivablesunder Investment Management Agreementswith Related Parties Current
ReceivablesunderInvestmentManagementAgreementswithRelatedPartiesCurrent
134712000 USD
CY2017Q3 wlkp Underwriting Discounts Structuring Feesand Offering Expenseson Issuanceof Equity
UnderwritingDiscountsStructuringFeesandOfferingExpensesonIssuanceofEquity
3111000 USD

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