Q2 2019 Earnings

Reported September 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q2 2019	Q1 2019	Q2 2018	QoQ Change	YoY Change
Revenue	$364M	$259M	$298M	40.5%	22.2%
Op. Income	$86M	$50M	$84M	73.1%	2.5%
Gross Margin	44.1%	40.4%	42.6%	3.7pp	1.5pp
Net Margin	25.2%	23.9%	32.5%	1.3pp	-7.4pp
EPS (Diluted)	$0.51	$0.47	$0.38	7.5%	34.6%

Revenue Flow

Item	Amount
REVENUE	$364M
Cost of Revenue	$204M
GROSS PROFIT	$161M
R&D Expenses	$15M
Selling & Marketing	$46M
General & Administrative	$14M
SG&A Expenses	$60M
Other Expenses	$0
Operating Expenses	$74M
Cost & Expenses	$278M
OPERATING INCOME	$86M
Interest Income	$191.3K
Interest Expense	$191.3K
Other Income/Expenses	$21M
INCOME BEFORE TAX	$107M
Income Tax Expense	$16M
Net Income from Continuing Ops	$92M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$92M
D&A	$0
EBIT	$86M
EBITDA	$86M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$364M
Cost of Revenue	$204M
GROSS PROFIT	$161M
R&D Expenses	$15M
Selling & Marketing	$46M
General & Administrative	$14M
SG&A Expenses	$60M
Other Expenses	$0
Operating Expenses	$74M
Cost & Expenses	$278M
OPERATING INCOME	$86M
Interest Income	$191.3K
Interest Expense	$191.3K
Other Income/Expenses	$21M
INCOME BEFORE TAX	$107M
Income Tax Expense	$16M
Net Income from Continuing Ops	$92M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$92M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$92M
D&A	$0
EBIT	$86M
EBITDA	$86M
EPS	$1
EPS Diluted	$1

Balance Sheet

Item	Amount
Cash & Equivalents	$155M
Short-Term Investments	$0
Net Receivables	$843M
Inventory	$15M
Other Current Assets	$310M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$13M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$33M
Tax Assets	$19M
Other Non-Current Assets	$254M
TOTAL NON-CURRENT ASSETS	$319M
TOTAL ASSETS	$1.9B
Account Payables	$36M
Short-Term Debt	$616M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$4M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$33M
Other Non-Current Liabilities	$6M
TOTAL NON-CURRENT LIABILITIES	$44M
TOTAL LIABILITIES	$1.1B
Common Stock	$33.6K
Additional Paid-In Capital	$352M
Retained Earnings	$386M
Treasury Stock	$0
Accum. Other Comp. Income	$27M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$766M
Minority Interest	$0
TOTAL EQUITY	$766M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$620M
Net Debt	$465M