2021 Q4 Form 10-Q Financial Statement

#000156459021054527 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q3
Revenue $293.5M $320.7M
YoY Change -8.0%
Cost Of Revenue $115.5M $130.6M
YoY Change -15.08%
Gross Profit $178.0M $190.1M
YoY Change -2.4%
Gross Profit Margin 60.66% 59.28%
Selling, General & Admin $94.61M $96.30M
YoY Change -3.7%
% of Gross Profit 53.14% 50.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.13M $12.40M
YoY Change -4.95%
% of Gross Profit 6.25% 6.52%
Operating Expenses $94.61M $96.30M
YoY Change -3.7%
Operating Profit $83.43M $92.64M
YoY Change -2.2%
Interest Expense -$19.28M -$29.70M
YoY Change -10.27%
% of Operating Profit -23.11% -32.06%
Other Income/Expense, Net -$764.0K $200.0K
YoY Change -113.7%
Pretax Income $59.68M $63.10M
YoY Change 4.82%
Income Tax $13.35M $8.600M
% Of Pretax Income 22.36% 13.63%
Net Earnings $46.33M $54.53M
YoY Change 15.8%
Net Earnings / Revenue 15.79% 17.0%
Basic Earnings Per Share $0.66 $0.80
Diluted Earnings Per Share $0.65 $0.78
COMMON SHARES
Basic Shares Outstanding 69.88M
Diluted Shares Outstanding 70.86M

Balance Sheet

Concept 2021 Q4 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $188.2M $204.4M
YoY Change -14.55%
Cash & Equivalents $188.2M $204.4M
Short-Term Investments
Other Short-Term Assets $56.82M $47.30M
YoY Change 35.53%
Inventory $25.56M $33.30M
Prepaid Expenses
Receivables $30.31M $36.40M
Other Receivables $0.00 $0.00
Total Short-Term Assets $300.9M $321.4M
YoY Change -2.58%
LONG-TERM ASSETS
Property, Plant & Equipment $134.8M $189.1M
YoY Change -3.52%
Goodwill $157.5M $152.8M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $27.60M $28.50M
YoY Change 4.01%
Total Long-Term Assets $1.167B $1.182B
YoY Change -0.41%
TOTAL ASSETS
Total Short-Term Assets $300.9M $321.4M
Total Long-Term Assets $1.167B $1.182B
Total Assets $1.468B $1.503B
YoY Change -0.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.12M $27.60M
YoY Change 2.6%
Accrued Expenses $149.5M $154.1M
YoY Change -9.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.00M $96.40M
YoY Change 25.19%
Total Short-Term Liabilities $247.4M $364.3M
YoY Change -0.41%
LONG-TERM LIABILITIES
Long-Term Debt $1.458B $1.427B
YoY Change -8.94%
Other Long-Term Liabilities $90.50M $117.2M
YoY Change -6.69%
Total Long-Term Liabilities $1.458B $1.544B
YoY Change -1.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $247.4M $364.3M
Total Long-Term Liabilities $1.458B $1.544B
Total Liabilities $1.959B $2.088B
YoY Change -6.79%
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 -$491.4M -$584.8M
YoY Change
Total Liabilities & Shareholders Equity $1.468B $1.503B
YoY Change -0.88%

Cashflow Statement

Concept 2021 Q4 2020 Q3
OPERATING ACTIVITIES
Net Income $46.33M $54.53M
YoY Change 15.8%
Depreciation, Depletion And Amortization $11.13M $12.40M
YoY Change -4.95%
Cash From Operating Activities $87.12M $79.90M
YoY Change 11.13%
INVESTING ACTIVITIES
Capital Expenditures -$10.72M -$8.500M
YoY Change -21.3%
Acquisitions
YoY Change
Other Investing Activities -$2.043M $0.00
YoY Change -100.0%
Cash From Investing Activities -$12.76M -$8.600M
YoY Change -18.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.761M -20.00M
YoY Change 3900.0%
NET CHANGE
Cash From Operating Activities 87.12M 79.90M
Cash From Investing Activities -12.76M -8.600M
Cash From Financing Activities -9.761M -20.00M
Net Change In Cash 64.60M 51.30M
YoY Change -15.62%
FREE CASH FLOW
Cash From Operating Activities $87.12M $79.90M
Capital Expenditures -$10.72M -$8.500M
Free Cash Flow $97.84M $88.40M
YoY Change 6.89%

Facts In Submission

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CY2021Q4 ww Operating And Finance Lease Liability Payments Due Next Twelve Months
OperatingAndFinanceLeaseLiabilityPaymentsDueNextTwelveMonths
28162000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
20454000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
26000
CY2021Q4 ww Operating And Finance Lease Liability Payments Due Year Two
OperatingAndFinanceLeaseLiabilityPaymentsDueYearTwo
20480000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15798000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
5000
CY2021Q4 ww Operating And Finance Lease Liability Payments Due Year Three
OperatingAndFinanceLeaseLiabilityPaymentsDueYearThree
15803000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
11544000
CY2021Q4 ww Operating And Finance Lease Liability Payments Due Year Four
OperatingAndFinanceLeaseLiabilityPaymentsDueYearFour
11544000
CY2021Q4 ww Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
54524000
CY2021Q4 ww Operating And Finance Lease Liability Payments Due After Year Four
OperatingAndFinanceLeaseLiabilityPaymentsDueAfterYearFour
54524000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
136101000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
138000
CY2021Q4 ww Operating And Finance Lease Liability Payments Due
OperatingAndFinanceLeaseLiabilityPaymentsDue
136239000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
32320000
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
6000
CY2021Q4 ww Operating And Finance Lease Liability Undiscounted Excess Amount
OperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
32326000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
103781000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
132000
us-gaap Operating Lease Payments
OperatingLeasePayments
31021000
us-gaap Operating Lease Payments
OperatingLeasePayments
37123000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
7000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
9000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
116000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
148000
ww Right Of Use Asset Modified Obtained In Exchange For Modified Operating Lease Liability
RightOfUseAssetModifiedObtainedInExchangeForModifiedOperatingLeaseLiability
-496000
ww Right Of Use Asset Modified Obtained In Exchange For Modified Operating Lease Liability
RightOfUseAssetModifiedObtainedInExchangeForModifiedOperatingLeaseLiability
9281000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
81000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
127000
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
293497000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
320699000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
936672000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1054697000
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
293497000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
320699000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
936672000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1054697000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
49808000
CY2021Q2 ww Franchise Agreement Period
FranchiseAgreementPeriod
P7Y
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
2153000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-241000
CY2021Q4 us-gaap Goodwill
Goodwill
157529000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
261155000
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
198096000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
7557000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
22108000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
7951000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
25946000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
15831000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5647000
CY2021Q4 ww Finite Lived Intangible Assets Amortization Expense Year Four And Thereafter
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9591000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1497500000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13405000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
15766000
CY2021Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0528
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1509000000
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5967000
CY2021Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
17233000
CY2021Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0694
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
10000000
CY2021Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
77000000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13405000
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5967000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
15766000
CY2021Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
17233000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1458329000
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1408800000
CY2021Q3 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
37910000
ww Percentage Of Annual Excess Cash Flow
PercentageOfAnnualExcessCashFlow
0.50
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-29169000
CY2021Q3 us-gaap Payments Of Debt Restructuring Costs
PaymentsOfDebtRestructuringCosts
9017000
ww Percentage Of Equity Interests Pledged
PercentageOfEquityInterestsPledged
1
CY2021Q3 ww Write Off Of Deferred Debt Issuance Cost And Debt Discount
WriteOffOfDeferredDebtIssuanceCostAndDebtDiscount
7213000
ww Percentage Of Annual Excess Cash Flow After Attaining First Lien Secured Net Leverage Ratio Two
PercentageOfAnnualExcessCashFlowAfterAttainingFirstLienSecuredNetLeverageRatioTwo
0
ww Percentage Of Net Cash Proceeds Of Certain Non Ordinary Course Asset Sales By Company And Its Restricted Subsidiaries
PercentageOfNetCashProceedsOfCertainNonOrdinaryCourseAssetSalesByCompanyAndItsRestrictedSubsidiaries
1
ww Percentage Of Right To Reinvest Of Net Cash Proceeds Of Certain Non Ordinary Course Asset Sales By Company And Its Restricted Subsidiaries Subject To Certain Qualifications
PercentageOfRightToReinvestOfNetCashProceedsOfCertainNonOrdinaryCourseAssetSalesByCompanyAndItsRestrictedSubsidiariesSubjectToCertainQualifications
1
ww Percentage Of Net Proceeds Of Any Issuance Or Incurrence Of Debt By Company Or Any Of Its Restricted Subsidiaries
PercentageOfNetProceedsOfAnyIssuanceOrIncurrenceOfDebtByCompanyOrAnyOfItsRestrictedSubsidiaries
1
CY2021Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0703
CY2021 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0741
ww Percentage Of Annual Excess Cash Flow After Attaining First Lien Secured Net Leverage Ratio One
PercentageOfAnnualExcessCashFlowAfterAttainingFirstLienSecuredNetLeverageRatioOne
0.25
us-gaap Net Income Loss
NetIncomeLoss
62468000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67697000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1350000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2239000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70866000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69936000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.92
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5270000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3589000
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.136
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.178
CY2021Q1 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2021Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2021Q1 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
us-gaap Maximum Length Of Time Hedged In Cash Flow Hedge1
MaximumLengthOfTimeHedgedInCashFlowHedge1
P3Y
CY2021Q4 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-4906000
CY2021Q4 ww Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next Twelve Months Before Tax
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNextTwelveMonthsBeforeTax
-6557000
CY2021Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
1455961000
CY2021Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
1501148000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
1468329000
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
1485800000
CY2021Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1931000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-6028000
ww Other Comprehensive Income Loss After Reclassification Of Tax Effect Net Of Tax
OtherComprehensiveIncomeLossAfterReclassificationOfTaxEffectNetOfTax
4097000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
4
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
936672000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1054697000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
68699000
us-gaap Interest And Debt Expense
InterestAndDebtExpense
92281000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-908000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-230000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-29169000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13546000
us-gaap Profit Loss
ProfitLoss
62438000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-30000
us-gaap Net Income Loss
NetIncomeLoss
62468000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
44016000
CY2015Q4 ww Initial Term Of Agreement
InitialTermOfAgreement
P5Y

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