Q4 2018 Earnings

Reported April 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q4 2018	Q3 2018	Q4 2017	QoQ Change	YoY Change
Revenue	$372M	$270M	$233M	37.8%	59.9%
Op. Income	$145M	$68M	$30M	112.4%	388.9%
Gross Margin	53.3%	41.5%	27.2%	11.8pp	26.0pp
Net Margin	41.2%	24.2%	6.3%	17.0pp	34.9pp
EPS (Diluted)	$0.56	$0.25	$0.08	122.1%	558.6%

Revenue Flow

Item	Amount
REVENUE	$372M
Cost of Revenue	$174M
GROSS PROFIT	$198M
R&D Expenses	$12M
Selling & Marketing	$31M
General & Administrative	$11M
SG&A Expenses	$42M
Other Expenses	$0
Operating Expenses	$54M
Cost & Expenses	$228M
OPERATING INCOME	$145M
Interest Income	$0
Interest Expense	$634.1K
Other Income/Expenses	$40M
INCOME BEFORE TAX	$184M
Income Tax Expense	$31M
Net Income from Continuing Ops	$153M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$153M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$153M
D&A	$0
EBIT	$145M
EBITDA	$145M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$372M
Cost of Revenue	$174M
GROSS PROFIT	$198M
R&D Expenses	$12M
Selling & Marketing	$31M
General & Administrative	$11M
SG&A Expenses	$42M
Other Expenses	$0
Operating Expenses	$54M
Cost & Expenses	$228M
OPERATING INCOME	$145M
Interest Income	$0
Interest Expense	$634.1K
Other Income/Expenses	$40M
INCOME BEFORE TAX	$184M
Income Tax Expense	$31M
Net Income from Continuing Ops	$153M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$153M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$153M
D&A	$0
EBIT	$145M
EBITDA	$145M
EPS	$1
EPS Diluted	$1

Balance Sheet

Item	Amount
Cash & Equivalents	$168M
Short-Term Investments	$0
Net Receivables	$1.0B
Inventory	$8M
Other Current Assets	$235M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$12M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$27M
Tax Assets	$14M
Other Non-Current Assets	$263M
TOTAL NON-CURRENT ASSETS	$316M
TOTAL ASSETS	$1.8B
Account Payables	$171M
Short-Term Debt	$743M
Deferred Revenue	$24M
Other Current Liabilities	$125M
TOTAL CURRENT LIABILITIES	$1.2B
Long-Term Debt	$23M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$27M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$50M
TOTAL LIABILITIES	$1.2B
Common Stock	$33.0K
Additional Paid-In Capital	$340M
Retained Earnings	$233M
Treasury Stock	$0
Accum. Other Comp. Income	$27M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$600M
Minority Interest	$0
TOTAL EQUITY	$600M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$766M
Net Debt	$598M