$XPO
XPO, Inc.

2013 Q2 Form 10-Q Financial Statement

#000119312513313456 Filed on August 01, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $137.1M $54.50M
YoY Change 151.56% 23.6%
Cost Of Revenue $117.8M $46.10M
YoY Change 155.53% 24.93%
Gross Profit $19.34M $8.466M
YoY Change 128.44% 17.91%
Gross Profit Margin 14.11% 15.53%
Selling, General & Admin $900.0K $11.50M
YoY Change -92.17% 116.98%
% of Gross Profit 4.65% 135.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $800.0K $400.0K
YoY Change 100.0% 33.33%
% of Gross Profit 4.14% 4.72%
Operating Expenses $151.2M $57.90M
YoY Change 161.14% 933.93%
Operating Profit -$14.10M -$3.400M
YoY Change 314.71% -315.19%
Interest Expense $3.100M $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net -$200.0K $0.00
YoY Change -100.0%
Pretax Income -$17.40M -$3.400M
YoY Change 411.76% -317.53%
Income Tax $100.0K $1.800M
% Of Pretax Income
Net Earnings -$17.50M -$5.200M
YoY Change 236.54% -668.93%
Net Earnings / Revenue -12.76% -9.54%
Basic Earnings Per Share -$1.00 -$0.34
Diluted Earnings Per Share -$1.00 -$0.34
COMMON SHARES
Basic Shares Outstanding 18.18M shares 17.64M shares
Diluted Shares Outstanding 18.18M shares 17.64M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $178.0M $191.0M
YoY Change -6.81% 19000.0%
Cash & Equivalents $178.2M $190.7M
Short-Term Investments
Other Short-Term Assets $4.203M $2.000M
YoY Change 110.15% 100.0%
Inventory
Prepaid Expenses $2.095M
Receivables $89.74M $31.00M
Other Receivables $3.000M $2.000M
Total Short-Term Assets $278.0M $226.0M
YoY Change 23.0% 737.04%
LONG-TERM ASSETS
Property, Plant & Equipment $15.55M $7.000M
YoY Change 122.2% 133.33%
Goodwill $69.90M $19.10M
YoY Change 265.97%
Intangibles $30.12M
YoY Change
Long-Term Investments
YoY Change
Other Assets $834.0K $1.000M
YoY Change -16.6%
Total Long-Term Assets $116.5M $34.73M
YoY Change 235.46% 19.76%
TOTAL ASSETS
Total Short-Term Assets $278.0M $226.0M
Total Long-Term Assets $116.5M $34.73M
Total Assets $394.5M $260.7M
YoY Change 51.3% 365.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.59M $8.000M
YoY Change 194.89% -11.11%
Accrued Expenses $29.00M $7.000M
YoY Change 314.29% 133.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $55.29M $17.00M
YoY Change 225.25% 13.33%
LONG-TERM LIABILITIES
Long-Term Debt $112.0M $0.00
YoY Change -100.0%
Other Long-Term Liabilities $3.838M $2.000M
YoY Change 91.9%
Total Long-Term Liabilities $122.4M $2.000M
YoY Change 6017.75% 100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.29M $17.00M
Total Long-Term Liabilities $122.4M $2.000M
Total Liabilities $177.6M $22.00M
YoY Change 707.49% 15.79%
SHAREHOLDERS EQUITY
Retained Earnings -$93.68M
YoY Change
Common Stock $18.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $107.0K
YoY Change
Treasury Stock Shares
Shareholders Equity $216.8M $238.0M
YoY Change
Total Liabilities & Shareholders Equity $394.5M $261.0M
YoY Change 51.14% 366.07%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$17.50M -$5.200M
YoY Change 236.54% -668.93%
Depreciation, Depletion And Amortization $800.0K $400.0K
YoY Change 100.0% 33.33%
Cash From Operating Activities -$21.10M -$7.300M
YoY Change 189.04% -556.25%
INVESTING ACTIVITIES
Capital Expenditures -$2.800M -$1.800M
YoY Change 55.56% 800.0%
Acquisitions
YoY Change
Other Investing Activities -$3.100M -$3.700M
YoY Change -16.22%
Cash From Investing Activities -$5.900M -$5.400M
YoY Change 9.26% 2600.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.100M -1.000M
YoY Change 10.0% 25.0%
NET CHANGE
Cash From Operating Activities -21.10M -7.300M
Cash From Investing Activities -5.900M -5.400M
Cash From Financing Activities -1.100M -1.000M
Net Change In Cash -28.10M -13.70M
YoY Change 105.11% -2383.33%
FREE CASH FLOW
Cash From Operating Activities -$21.10M -$7.300M
Capital Expenditures -$2.800M -$1.800M
Free Cash Flow -$18.30M -$5.500M
YoY Change 232.73% -405.56%

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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company prepares its unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. These principles require management to make estimates and assumptions that impact the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expense during the reporting period. The Company reviews its estimates on a regular basis and makes adjustments based on historical experience and existing and expected future conditions. Estimates are made with respect to, among other matters, accrued revenue, purchased transportation, recoverability of long-lived assets, accrual of acquisition earn-outs, estimated legal accruals, valuation allowances for deferred taxes, reserve for uncertain tax positions, and allowance for doubtful accounts. These evaluations are performed and adjustments are made as information is available. Management believes that these estimates, which have been discussed with the audit committee of the Company&#x2019;s board of directors, are reasonable; however, actual results could differ from these estimates.</font></p> </div>
us-gaap Other Commitments Description
OtherCommitmentsDescription
The commitment is subject to various conditions, including (i) the absence of a material adverse effect having occurred with respect to 3PD and its subsidiaries, (ii) the execution of satisfactory definitive documentation and (iii) other customary closing conditions. Any permanent debt or equity financing obtained by the Company on or prior to the closing of the 3PD Transaction will reduce the amount of the commitment.
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CY2012Q3 xpo Convertible Debt Redemption Terms Make Whole Premium Payment Discount Rate
ConvertibleDebtRedemptionTermsMakeWholePremiumPaymentDiscountRate
0.045 pure
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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EarningsPerShareDiluted
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CY2012Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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CY2012Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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CY2012Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2012Q2 us-gaap Revenues
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