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 46.62 47.29 46.71 46.24
Labor & Related Expense 5.20 3.00 2.85
Selling/General/Administrative Expenses, Total 46.62 52.49 49.72 49.09
Research & Development 34.41 31.53 32.20 34.97
Amortization of Intangibles, Operating 0.40 0.24 0.41
Depreciation/Amortization 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 -40.27 -0.02 -0.02 0.23
Income After Tax 116.22 -37.41 -12.26 -43.81
Net Income Before Extraordinary Items 116.22 -37.41 -12.26 -43.81
Net Income 116.22 -37.41 -12.26 -43.81
Income Available to Common Excluding Extraordinary Items 116.22 -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 3.42 -1.15 -0.39 -1.43
Basic EPS Including Extraordinary Items 3.42 -1.15 -0.39 -1.43
Dilution Adjustment
Diluted Net Income 116.22 -37.41 -12.26 -43.81
Diluted Weighted Average Shares 35.57 32.55 31.41 30.61
Diluted EPS Excluding Extraordinary Items 3.27 -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 -38.89 5.44 1.31 5.91
Normalized Income After Taxes 118.78 -27.26 -9.80 -33.27
Normalized Income Available to Common 118.78 -27.26 -9.80 -33.27
Basic Normalized EPS 3.50 -0.84 -0.31 -1.09
Diluted Normalized EPS 3.34 -0.84 -0.31 -1.09
Amortization of Intangibles, Supplemental 1.53 1.38 1.50
Depreciation, Supplemental 6.90 6.80 7.20
Rental Expense, Supplemental 2.60 2.50 2.70
Stock-Based Compensation, Supplemental 6.44 4.23 4.54
Research & Development Expense, Supplemental 34.41 31.53 32.20 34.97
Audit-Related Fees, Supplemental 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 -53.02
Net Profit Margin 31.59 -23.23 -6.65 -27.53
Normalized EBIT 79.80 -22.09 -8.69 -27.79
Normalized EBITDA -13.66 -0.52 -19.09
Current Tax - Domestic -0.38 0.01 -0.98
Current Tax - Foreign 0.56 0.92 1.21
Current Tax - Total 0.18 0.92 0.22
Deferred Tax - Domestic -- -- 0.01
Deferred Tax - Foreign -0.20 -0.94 0.01
Deferred Tax - Total -0.20 -0.94 0.01
Income Tax - Total -0.02 -0.02 0.23
Defined Contribution Expense - Domestic 0.80 0.70 0.60
Total Pension Expense 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 0.00 41.10 43.81 43.01 38.22
Provision for Doubtful Accounts 0.00 -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 0.00 3.73 7.24 3.81 7.24
Inventories - Work In Progress 0.00 13.83 14.27 14.83 12.91
Inventories - Raw Materials 0.00 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 0.00 36.20 36.49 0.00 38.47
Land/Improvements - Gross 0.00 2.15 2.15 0.00 2.07
Machinery/Equipment - Gross 0.00 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 0.00 133.69 132.45 128.76 126.26
Accumulated Depreciation, Total 0.00 -112.08 -107.91 -102.90 -98.33
Property/Plant/Equipment, Total - Net 22.03 32.63 31.79 33.02 27.93
Goodwill, Net 2.63 3.03 7.45 7.72 7.89
Intangibles - Gross 0.00 28.56 28.29 28.84 25.22
Accumulated Intangible Amortization 0.00 -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 0.00 2.87 0.00 0.00 3.99
Long Term Investments 0.00 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 0.00 1.09 0.00 0.00 0.00
Other Long Term Assets 14.78 3.47 5.06 2.39 8.08
Other Long Term Assets, Total 58.30 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 34.53 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 9.82 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 0.00 2.53 1.72 1.77 1.31
Other Current liabilities, Total 9.82 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 0.00 720.00 698.00 695.00 658.00
Number of Common Shareholders 0.00 401.00 401.00 443.00 470.00
Accumulated Intangible Amortization 0.00 21.99 21.15 19.88 18.38
Deferred Revenue - Current 9.82 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 Operating Leases 0.00 5.13 7.31 6.74 7.21
Operating Lease Payments Due in Year 1 0.00 2.73 3.03 2.65 2.66
Operating Lease Payments Due in Year 2 0.00 1.90 2.34 1.85 1.76
Operating Lease Payments Due in Year 3 0.00 0.48 1.59 1.33 1.07
Operating Lease Payments Due in Year 4 0.00 0.02 0.22 0.90 0.91
Operating Lease Payments Due in Year 5 0.00 0.00 0.13 0.02 0.80
Operating Lease Payments Due in 2-3 Years 0.00 2.38 3.93 3.18 2.83
Operating Lease Payments Due in 4-5 Years 0.00 0.02 0.35 0.91 1.71
Standardized Operating Lease Payments Due in Year 6 and Beyond 0.00 0.00 0.00 0.00 0.01
Value of Bookings 451.40 184.80 201.70 170.90 172.10
Value of Backlog 0.00 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 7.57 7.34 7.82 7.64
Depreciation/Depletion 7.57 7.34 7.82 7.64
Amortization of Intangibles 1.53 1.38 1.50 2.99
Amortization 1.53 1.38 1.50 2.99
Deferred Taxes -0.25 -0.88 -0.05 4.38
Unusual Items 11.12 0.86 12.15 8.07
Purchased R&D
Other Non-Cash Items 6.67 5.43 4.60 6.11
Non-Cash Items 17.78 6.29 16.74 14.17
Accounts Receivable 2.57 2.98 -7.97 -2.20
Inventories -3.81 -7.30 1.09 7.57
Other Assets -5.29 2.79 -0.66 -1.78
Accounts Payable
Payable/Accrued 8.14 9.05 -4.01 -13.69
Other Liabilities 8.34 -4.69 1.86 0.14
Other Operating Cash Flow -48.80
Changes in Working Capital -48.80 9.95 2.82 -9.69 -9.96
Cash from Operating Activities 67.43 -0.83 4.70 -27.49 -19.12
Purchase of Fixed Assets -4.04 -3.69 -5.37 -7.58
Capital Expenditures -4.04 -3.69 -5.37 -7.58
Acquisition of Business -2.01 -- -7.74 -9.73
Sale of Fixed Assets 0.01 0.23 0.15 3.66
Sale/Maturity of Investment 473.84 369.70 450.51 294.18
Purchase of Investments -464.89 -380.84 -414.71 -273.13
Other Investing Cash Flow -47.35 -0.29 0.79 -2.64 0.44
Other Investing Cash Flow Items, Total -47.35 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 -1.13 -0.84 -0.64 -1.85 0.65
Financing Cash Flow Items -1.13 -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 1.40 1.36 1.86
Repurchase/Retirement of Common -- -- -1.46 -0.19
Common Stock, Net 1.40 1.36 0.41 -0.19
Issuance (Retirement) of Stock, Net 1.40 1.36 0.41 -0.19
Long Term Debt Issued 13.68
Long Term Debt Reduction -0.08
Long Term Debt, Net 13.61
Issuance (Retirement) of Debt, Net 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 0.12 0.06 0.11 --
Cash Taxes Paid 0.53 0.81 1.16 3.26

In millions of USD (except for per share items)

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