2015 Q4 Form 10-K Financial Statement

#000119312517065534 Filed on March 01, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2014 2013 Q4
Revenue $76.49M $183.8M $43.17M
YoY Change 54.21% 22.94% 83.16%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $37.17M $104.9M $25.06M
YoY Change 17.63% 12.8% 39.22%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $300.0K $800.0K $200.0K
YoY Change 50.0% 100.0% 100.0%
% of Gross Profit
Operating Expenses $39.31M $110.2M $26.69M
YoY Change 19.41% 12.54% 41.67%
Operating Profit
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $4.530M
YoY Change 0.15%
Pretax Income $35.69M $73.55M $16.48M
YoY Change 113.97% 42.71% 213.9%
Income Tax $15.16M $12.50M $0.00
% Of Pretax Income 42.48% 16.99% 0.0%
Net Earnings $20.53M $61.05M $16.48M
YoY Change 113.41% 18.46% 213.9%
Net Earnings / Revenue 26.84% 33.22% 38.17%
Basic Earnings Per Share $0.46
Diluted Earnings Per Share $144.2K $0.44 $117.9K
COMMON SHARES
Basic Shares Outstanding 138.4M shares 131.8M shares 129.4M shares
Diluted Shares Outstanding 138.6M shares

Balance Sheet

Concept 2015 Q4 2014 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $210.1M $165.3M $104.3M
YoY Change 27.1% 58.49% 153.16%
Cash & Equivalents $210.1M $165.3M $104.3M
Short-Term Investments $0.00
Other Short-Term Assets $272.0K $1.700M $1.320M
YoY Change -84.07% 30.77% 3.69%
Inventory
Prepaid Expenses $2.627M
Receivables $27.58M $18.20M $17.59M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $240.5M $185.2M $123.2M
YoY Change 29.91% 50.32% 137.58%
LONG-TERM ASSETS
Property, Plant & Equipment $11.97M $10.40M $6.252M
YoY Change 15.62% 65.08% 1202.5%
Goodwill $1.676M $0.00
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $23.70M $14.00M $11.70M
YoY Change 69.29% 19.66% 6.36%
Other Assets $738.0K $9.600M $564.0K
YoY Change 939.44% 1500.0% 1242.86%
Total Long-Term Assets $52.15M $35.60M $18.56M
YoY Change 46.55% 91.4% 60.62%
TOTAL ASSETS
Total Short-Term Assets $240.5M $185.2M $123.2M
Total Long-Term Assets $52.15M $35.60M $18.56M
Total Assets $292.7M $220.8M $141.8M
YoY Change 32.59% 55.71% 123.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.000M $5.100M $4.400M
YoY Change -1.96% 15.91% 33.33%
Accrued Expenses $28.10M $14.30M $14.30M
YoY Change 96.5% 0.0% 550.0%
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 $49.09M $29.40M $29.06M
YoY Change 66.81% 1.03% 135.23%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.100M $7.000M $3.706M
YoY Change 30.0% 89.19% 28407.69%
Total Long-Term Liabilities $9.100M $7.000M $3.706M
YoY Change 30.0% 89.19% 28407.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $49.09M $29.40M $29.06M
Total Long-Term Liabilities $9.100M $7.000M $3.706M
Total Liabilities $58.19M $36.50M $32.76M
YoY Change 59.58% 11.28% 164.96%
SHAREHOLDERS EQUITY
Retained Earnings -$24.72M -$76.49M
YoY Change -5.76% -40.25%
Common Stock $259.3M $1.322M
YoY Change 23.17% 4.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $234.5M $184.3M $109.0M
YoY Change
Total Liabilities & Shareholders Equity $292.7M $220.8M $141.8M
YoY Change 32.59% 55.71% 123.56%

Cashflow Statement

Concept 2015 Q4 2014 2013 Q4
OPERATING ACTIVITIES
Net Income $20.53M $61.05M $16.48M
YoY Change 113.41% 18.46% 213.9%
Depreciation, Depletion And Amortization $300.0K $800.0K $200.0K
YoY Change 50.0% 100.0% 100.0%
Cash From Operating Activities $45.00M $82.60M $22.40M
YoY Change 73.75% 17.79% 505.41%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M $4.894M -$5.100M
YoY Change 233.33% -21.2%
Acquisitions -$1.349M
YoY Change
Other Investing Activities $0.00 -$900.0K -$100.0K
YoY Change -100.0% 12.5% -94.44%
Cash From Investing Activities -$1.000M -$5.800M -$5.200M
YoY Change -52.38% -17.46% 188.89%
FINANCING ACTIVITIES
Cash Dividend Paid $10.79M
YoY Change
Common Stock Issuance & Retirement, Net $6.531M
YoY Change 304.9%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -46.00M -15.80M 100.0K
YoY Change 364.65% 58418.52% -125.0%
NET CHANGE
Cash From Operating Activities 45.00M 82.60M 22.40M
Cash From Investing Activities -1.000M -5.800M -5.200M
Cash From Financing Activities -46.00M -15.80M 100.0K
Net Change In Cash -2.000M 61.00M 17.30M
YoY Change -114.39% -3.28% 1053.33%
FREE CASH FLOW
Cash From Operating Activities $45.00M $82.60M $22.40M
Capital Expenditures -$1.000M $4.894M -$5.100M
Free Cash Flow $46.00M $77.71M $27.50M
YoY Change 75.57% 21.58% 643.24%

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55562000
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-89265000
CY2016 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-163000
CY2016 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
16742000
CY2016 us-gaap Increase Decrease In Financial Instruments Sold Not Yet Purchased
IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased
1249000
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-9778000
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
39379000
CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
11818000
CY2016 us-gaap Increase Decrease In Financial Instruments Used In Operating Activities
IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities
1556000
CY2016 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
1687000
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
14990000
CY2016 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
245000
CY2016 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-13089000
CY2016 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
15643000
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
29407000
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
54911000
CY2016 us-gaap Other Expenses
OtherExpenses
6909000
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
1799000
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
1676000
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1070000
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
176350 shares
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of the Company&#x2019;s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet dates and the reported amounts of revenues and expenses for the periods presented. Actual results could differ materially from those estimates.</p> </div>
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.0068 pure
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
14892000
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
135539000 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P1Y
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
On June 20, 2016, the Company's stockholders approved a new equity award plan under which the Company can issue up to 10,000,000 shares of common stock (less one share for every share granted under prior plans since March 31, 2016 and inclusive of shares available under the prior plans as of March 31, 2016) in the form of stock options and other stock-based awards.
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y9M18D
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1138000 shares
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y9M18D
CY2016 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
39379000
CY2016 us-gaap Professional Fees
ProfessionalFees
6692000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.11
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
134401000 shares
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
195000
CY2016 dei Trading Symbol
TradingSymbol
WETF
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Terms Of Award
ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward
Options may be issued for terms of ten years
CY2016 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
195000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1794000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
14892000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
CY2016 us-gaap Straight Line Rent
StraightLineRent
231000
CY2016 wetf Noncash Income Tax Expense Benefit
NoncashIncomeTaxExpenseBenefit
12900000
CY2016 wetf Operating Loss Carry Forward Expiration Year
OperatingLossCarryForwardExpirationYear
2024
CY2016 wetf Cash And Cash Equivalents Criteria Maturity Period
CashAndCashEquivalentsCriteriaMaturityPeriod
P90D
CY2016 wetf Share Based Compensation Arrangement By Share Based Payment Award Expiration Period Start Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationPeriodStartDate
2017-03-04
CY2016 wetf Third Party Sharing Arrangements
ThirdPartySharingArrangements
2827000
CY2016 wetf Increase Decrease In Fund Management And Administration Payable
IncreaseDecreaseInFundManagementAndAdministrationPayable
9636000
CY2016 wetf Share Based Compensation Arrangement By Share Based Payment Award Expiration Period End Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationPeriodEndDate
2021-11-15
CY2016 wetf Cash Equivalents Maturity Period
CashEquivalentsMaturityPeriod
P90D
CY2016 wetf Stock Option Issuance Period
StockOptionIssuancePeriod
P10Y
CY2016 wetf Number Of Available For Securities Determined To Be Other Than Temporarily Impaired
NumberOfAvailableForSecuritiesDeterminedToBeOtherThanTemporarilyImpaired
0 Securities
CY2016 wetf Number Of Securities Determined To Be Other Than Temporarily Impaired
NumberOfSecuritiesDeterminedToBeOtherThanTemporarilyImpaired
0 Securities
CY2016 wetf Effective Income Tax Rate Reconciliation Nondeductible Expense Acquisition Costs Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseAcquisitionCostsPercent
0.0406 pure
CY2016Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
5993000
CY2016Q4 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2016Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment

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