Financial Statements

  Year Ending Mar 2018 (Update) Year Ending Apr 2017 (Update) Year Ending Apr 2016 (Update) Year Ending Mar 2015 (Update)
Net Sales 367.88 161.02 184.39 159.12
Revenue 367.88 161.02 184.39 159.12
Total Revenue 367.88 161.02 184.39 159.12
Cost of Revenue 207.05 99.56 111.69 104.44
Cost of Revenue, Total 207.05 99.56 111.69 104.44
Gross Profit 160.83 61.47 72.70 54.68
Selling/General/Administrative Expense 42.76 47.29 46.71 46.24
Labor & Related Expense 3.66 5.20 3.00 2.85
Selling/General/Administrative Expenses, Total 46.42 52.49 49.72 49.09
Research & Development 34.22 31.53 32.20 34.97
Amortization of Intangibles, Operating 0.40 0.40 0.24 0.41
Depreciation/Amortization 0.40 0.40 0.24 0.41
Purchased R&D Written-Off
Restructuring Charge 3.94 6.94 2.82 2.07
Litigation --
Impairment-Assets Held for Use -- 7.45 -- 7.89
Impairment-Assets Held for Sale -- -- 4.26
Loss (Gain) on Sale of Assets - Operating -- --
Other Unusual Expense (Income) -- 0.37 0.19 --
Unusual Expense (Income) 3.94 14.75 3.02 14.22
Total Operating Expense 292.02 198.72 196.86 203.13
Operating Income 75.86 -37.70 -12.47 -44.01
Investment Income, Non-Operating
Interest/Investment Income, Non-Operating
Interest Income (Expense), Net Non-Operating 0.09 0.27 0.20 0.43
Interest Income (Expense), Net-Non-Operating, Total 0.09 0.27 0.20 0.43
Net Income Before Taxes 75.95 -37.43 -12.27 -43.58
Income Tax – Total -39.87 -0.02 -0.02 0.23
Income After Tax 115.82 -37.41 -12.26 -43.81
Net Income Before Extraordinary Items 115.82 -37.41 -12.26 -43.81
Extraordinary Item 0.40
Total Extraordinary Items 0.40
Net Income 116.22 -37.41 -12.26 -43.81
Income Available to Common Excluding Extraordinary Items 115.82 -37.41 -12.26 -43.81
Income Available to Common Stocks Including Extraordinary Items 116.22 -37.41 -12.26 -43.81
Basic Weighted Average Shares 33.97 32.55 31.41 30.61
Basic EPS Excluding Extraordinary Items 3.41 -1.15 -0.39 -1.43
Basic EPS Including Extraordinary Items 3.42 -1.15 -0.39 -1.43
Dilution Adjustment 0.09
Diluted Net Income 116.32 -37.41 -12.26 -43.81
Diluted Weighted Average Shares 35.57 32.55 31.41 30.61
Diluted EPS Excluding Extraordinary Items 3.26 -1.15 -0.39 -1.43
Diluted EPS Including Extraordinary Items 3.27 -1.15 -0.39 -1.43
DPS - Common Stock Primary Issue 0.32
Gross Dividends - Common Stock -- -- -- 7.27
Litigation Charge, Supplemental
Restructuring Charge, Supplemental 0.86 0.76 2.00
Other Unusual Expense (Income), Supplemental
Non-Recurring Items, Total 0.86 0.76 2.00
Total Special Items 3.94 15.61 3.78 16.22
Normalized Income Before Taxes 79.89 -21.83 -8.50 -27.36
Effect of Special Items on Income Taxes 1.38 5.46 1.32 5.68
Income Taxes Excluding Impact of Special Items -38.49 5.44 1.31 5.91
Normalized Income After Taxes 118.38 -27.26 -9.80 -33.27
Normalized Income Available to Common 118.38 -27.26 -9.80 -33.27
Basic Normalized EPS 3.49 -0.84 -0.31 -1.09
Diluted Normalized EPS 3.33 -0.84 -0.31 -1.09
Amortization of Intangibles, Supplemental 1.37 1.53 1.38 1.50
Depreciation, Supplemental 7.82 7.57 6.80 7.20
Rental Expense, Supplemental 2.40 2.60 2.50 2.70
Stock-Based Compensation, Supplemental 4.80 6.44 4.23 4.54
Research & Development Expense, Supplemental 34.22 31.53 32.20 34.97
Audit-Related Fees, Supplemental 1.15 0.96 0.72 1.13
Tax Fees, Supplemental -- -- 0.02 0.02
Gross Margin 43.72 38.17 39.43 34.37
Operating Margin 20.62 -23.41 -6.76 -27.66
Pretax Margin 20.65 -23.25 -6.66 -27.39
Effective Tax Rate -52.49
Net Profit Margin 31.48 -23.23 -6.65 -27.53
Normalized EBIT 79.80 -22.09 -8.69 -27.79
Normalized EBITDA 88.99 -12.99 -0.52 -19.09
Current Tax - Domestic -0.25 -0.38 0.01 -0.98
Current Tax - Foreign 2.61 0.56 0.92 1.21
Current Tax - Total 2.37 0.18 0.92 0.22
Deferred Tax - Domestic -41.93 -- -- 0.01
Deferred Tax - Foreign -0.31 -0.20 -0.94 0.01
Deferred Tax - Total -42.24 -0.20 -0.94 0.01
Income Tax - Total -39.87 -0.02 -0.02 0.23
Defined Contribution Expense - Domestic 0.70 0.80 0.70 0.60
Total Pension Expense 0.70 0.80 0.70 0.60
  Year Ending Mar 2018 (Update) Year Ending Apr 2017 (Update) Year Ending Apr 2016 (Update) Year Ending Mar 2015 (Reclassified) Year Ending Mar 2014 (Update)
Cash & Equivalents 76.79 56.64 42.41 50.99 68.46
Short Term Investments 47.12 5.74 15.25 6.61 38.44
Cash and Short Term Investments 123.91 62.39 57.67 57.61 106.91
Accounts Receivable - Trade, Gross 63.88 41.10 43.81 43.01 38.22
Provision for Doubtful Accounts -0.83 -0.60 -1.04 -0.71 -0.40
Accounts Receivable - Trade, Net 63.04 40.49 42.77 42.30 37.81
Receivables - Other 0.00 1.70 1.35 1.98 0.78
Total Receivables, Net 63.04 42.20 44.12 44.28 38.59
Inventories - Finished Goods 16.46 3.73 7.24 3.81 7.24
Inventories - Work In Progress 18.63 13.83 14.27 14.83 12.91
Inventories - Raw Materials 52.59 41.38 38.96 37.99 38.75
Total Inventory 87.69 58.94 60.47 56.64 58.90
Prepaid Expenses 0.00 3.65 2.75 2.60 2.60
Restricted Cash - Current 0.00 0.00 0.00 0.00 0.00
Deferred Income Tax - Current Asset 0.00 0.00 0.00 0.18 0.16
Other Current Assets 10.23 6.54 2.42 4.03 3.35
Other Current Assets, Total 10.23 6.54 2.42 4.21 3.51
Total Current Assets 284.87 173.71 167.43 165.32 210.51
Buildings - Gross 38.47 36.20 36.49 0.00 38.47
Land/Improvements - Gross 2.15 2.15 2.15 0.00 2.07
Machinery/Equipment - Gross 64.57 95.34 93.81 0.00 85.72
Other Property/Plant/Equipment - Gross 0.00 0.00 0.00 128.76 0.00
Property/Plant/Equipment, Total - Gross 105.18 133.69 132.45 128.76 126.26
Accumulated Depreciation, Total -83.16 -112.08 -107.91 -102.90 -98.33
Property/Plant/Equipment, Total - Net 28.77 32.63 31.79 33.02 27.93
Goodwill, Net 2.63 3.03 7.45 7.72 7.89
Intangibles - Gross 27.94 28.56 28.29 28.84 25.22
Accumulated Intangible Amortization -22.77 -21.99 -21.15 -19.88 -18.38
Intangibles, Net 5.17 6.56 7.15 8.96 6.85
LT Investment - Affiliate Companies 0.00 0.00 0.00 0.00 4.26
LT Investments - Other 3.23 2.87 0.00 0.00 3.99
Long Term Investments 3.23 2.87 0.00 0.00 8.25
Note Receivable - Long Term 0.00 0.49 0.32 3.66 0.00
Deferred Income Tax - Long Term Asset 43.52 0.89 0.91 0.17 0.70
Restricted Cash - Long Term 1.09 1.09 0.00 0.00 0.00
Other Long Term Assets 3.71 3.47 5.06 2.39 8.08
Other Long Term Assets, Total 48.32 5.45 5.98 2.57 8.79
Total Assets 372.99 224.75 220.10 221.24 270.21
Accounts Payable 37.35 21.21 16.06 9.51 14.47
Accrued Expenses 25.13 18.42 14.32 15.29 18.35
Notes Payable/Short Term Debt 0.00 0.00 0.00 0.00 0.00
Customer Advances 12.03 15.95 8.10 13.43 10.89
Income Taxes Payable 0.00 0.00 0.57 0.56 0.49
Deferred Income Tax - Current Liability 0.00 0.00 0.00 0.17 0.17
Other Current Liabilities 7.19 2.53 1.72 1.77 1.31
Other Current liabilities, Total 19.22 18.48 10.39 15.93 12.86
Total Current Liabilities 81.71 58.11 40.77 40.73 45.67
Long Term Debt 12.77 13.49 0.00 0.00 0.00
Total Long Term Debt 12.77 13.49 0.00 0.00 0.00
Total Debt 12.77 13.49 0.00 0.00 0.00
Deferred Income Tax - Long Term Liability 0.00 0.01 0.23 0.44 0.00
Deferred Income Tax 0.00 0.01 0.23 0.44 0.00
Other Long Term Liabilities 12.16 8.61 9.07 2.75 1.65
Other Liabilities, Total 12.16 8.61 9.07 2.75 1.65
Total Liabilities 106.63 80.21 50.07 43.92 47.33
Convertible Preferred Stock – Non-Redeemable 0.00 0.00 0.00 0.00 0.00
Preferred Stock - Non Redeemable, Net 0.00 0.00 0.00 0.00 0.00
Common Stock 211.00 207.15 195.02 189.13 183.19
Common Stock, Total 211.00 207.15 195.02 189.13 183.19
Retained Earnings (Accumulated Deficit) 54.82 -61.41 -24.00 -11.74 39.34
Other Comprehensive Income 0.55 -1.21 -1.00 -0.07 0.35
Other Equity, Total 0.55 -1.21 -1.00 -0.07 0.35
Total Equity 266.36 144.53 170.03 177.32 222.88
Total Liabilities & Shareholders' Equity 372.99 224.75 220.10 221.24 270.21
Shares Outstanding – Common Stock Primary Issue 34.39 33.26 31.61 30.70 30.16
Total Common Shares Outstanding 34.39 33.26 31.61 30.70 30.16
Treasury Shares – Common Primary Issue 0.00 0.00 0.00 0.00 0.00
Employees 655.00 720.00 698.00 695.00 658.00
Number of Common Shareholders 361.00 450.00 401.00 443.00 470.00
Accumulated Intangible Amortization 22.77 21.99 21.15 19.88 18.38
Deferred Revenue - Current 12.03 15.95 8.10 13.43 10.89
Total Current Assets less Inventory 197.18 114.77 106.96 108.69 151.61
Quick Ratio 2.41 1.98 2.62 2.67 3.32
Current Ratio 3.49 2.99 4.11 4.06 4.61
Net Debt -111.15 -48.90 -57.67 -57.61 -106.91
Tangible Book Value 258.56 134.94 155.44 160.65 208.15
Tangible Book Value per Share 7.52 4.06 4.92 5.23 6.90
Total Long Term Debt, Supplemental 2.50 0.00 0.00 0.00 0.00
Long Term Debt Maturing within 1 Year 0.46 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 2 0.48 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 3 0.50 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 4 0.52 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 5 0.55 0.00 0.00 0.00 0.00
Long Term Debt Maturing in 2-3 Years 0.98 0.00 0.00 0.00 0.00
Long Term Debt Maturing in 4-5 Years 1.07 0.00 0.00 0.00 0.00
Long Term Debt Maturing in Year 6 & Beyond 0.00 0.00 0.00 0.00 0.00
Total Operating Leases 7.78 5.13 7.31 6.74 7.21
Operating Lease Payments Due in Year 1 2.50 2.73 3.03 2.65 2.66
Operating Lease Payments Due in Year 2 2.08 1.90 2.34 1.85 1.76
Operating Lease Payments Due in Year 3 1.51 0.48 1.59 1.33 1.07
Operating Lease Payments Due in Year 4 0.90 0.02 0.22 0.90 0.91
Operating Lease Payments Due in Year 5 0.20 0.00 0.13 0.02 0.80
Operating Lease Payments Due in 2-3 Years 3.59 2.38 3.93 3.18 2.83
Operating Lease Payments Due in 4-5 Years 1.10 0.02 0.35 0.91 1.71
Standardized Operating Lease Payments Due in Year 6 and Beyond 0.59 0.00 0.00 0.00 0.01
Value of Bookings 451.40 184.80 201.70 170.90 172.10
Value of Backlog 148.40 69.50 55.20 36.50 27.40
  Year Ending Mar 2018 (Update) Year Ending Apr 2017 (Update) Year Ending Apr 2016 (Update) Year Ending Mar 2015 (Update) Year Ending Mar 2014 (Update)
Net Income/Starting Line 116.22 -37.41 -12.26 -43.81 -38.33
Depreciation – Supplemental 7.82 7.57 7.34 7.82 7.64
Depreciation/Depletion 7.82 7.57 7.34 7.82 7.64
Amortization of Intangibles 1.37 1.53 1.38 1.50 2.99
Amortization 1.37 1.53 1.38 1.50 2.99
Deferred Taxes -42.25 -0.25 -0.88 -0.05 4.38
Unusual Items 4.89 11.12 0.86 12.15 8.07
Purchased R&D
Other Non-Cash Items 13.78 9.11 5.43 4.60 6.11
Non-Cash Items 18.67 20.22 6.29 16.74 14.17
Accounts Receivable -22.42 2.57 2.98 -7.97 -2.20
Inventories -37.24 -6.25 -7.30 1.09 7.57
Other Assets 2.23 -5.29 2.79 -0.66 -1.78
Accounts Payable
Payable/Accrued 27.92 8.14 9.05 -4.01 -13.69
Other Liabilities -4.89 8.34 -4.69 1.86 0.14
Changes in Working Capital -34.41 7.51 2.82 -9.69 -9.96
Cash from Operating Activities 67.43 -0.83 4.70 -27.49 -19.12
Purchase of Fixed Assets -4.85 -4.04 -3.69 -5.37 -7.58
Capital Expenditures -4.85 -4.04 -3.69 -5.37 -7.58
Acquisition of Business -- -2.01 -- -7.74 -9.73
Sale of Fixed Assets 3.04 0.01 0.23 0.15 3.66
Sale/Maturity of Investment 32.67 473.84 369.70 450.51 294.18
Purchase of Investments -73.04 -464.89 -380.84 -414.71 -273.13
Other Investing Cash Flow -5.16 -0.29 0.79 -2.64 0.44
Other Investing Cash Flow Items, Total -42.51 6.65 -10.12 25.58 15.41
Cash from Investing Activities -47.35 2.61 -13.81 20.21 7.83
Other Financing Cash Flow -4.16 -0.84 -0.64 -1.85 0.65
Financing Cash Flow Items -4.16 -0.84 -0.64 -1.85 0.65
Cash Dividends Paid - Common -- -- -7.27 -9.56
Total Cash Dividends Paid -- -- -7.27 -9.56
Sale/Issuance of Common 3.46 1.40 1.36 1.86
Repurchase/Retirement of Common -- -- -1.46 -0.19
Common Stock, Net 3.46 1.40 1.36 0.41 -0.19
Issuance (Retirement) of Stock, Net 3.46 1.40 1.36 0.41 -0.19
Long Term Debt Issued -- 13.68
Long Term Debt Reduction -0.43 -0.08
Long Term Debt, Net -0.43 13.61
Issuance (Retirement) of Debt, Net -0.43 13.61
Cash from Financing Activities -1.13 14.17 0.72 -8.71 -9.10
Foreign Exchange Effects 1.21 -0.63 -0.20 -1.47 -0.07
Net Change in Cash 20.15 15.32 -8.58 -17.47 -20.45
Net Cash - Beginning Balance 57.73 42.41 50.99 68.46 88.91
Net Cash - Ending Balance 77.89 57.73 42.41 50.99 68.46
Cash Interest Paid 0.65 0.12 0.06 0.11 --
Cash Taxes Paid 1.20 0.53 0.81 1.16 3.26

In millions of USD (except for per share items)

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