Q1 2020 Earnings

Reported May 27, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q1 2020	Q4 2019	Q1 2019	QoQ Change	YoY Change
Revenue	$2.7B	$4.3B	$3.1B	-35.9%	-11.8%
Op. Income	$114M	$259M	$126M	-55.9%	-9.4%
Gross Margin	19.2%	23.9%	20.4%	-4.6pp	-1.2pp
Net Margin	3.6%	5.0%	4.1%	-1.3pp	-0.4pp
EPS (Diluted)	$0.15	$0.31	$0.19	-53.3%	-21.3%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.2B
GROSS PROFIT	$529M
R&D Expenses	$49M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$387M
Other Expenses	-$22M
Operating Expenses	$414M
Cost & Expenses	$2.6B
OPERATING INCOME	$114M
Interest Income	$12M
Interest Expense	$5M
Other Income/Expenses	$10M
INCOME BEFORE TAX	$125M
Income Tax Expense	$25M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$100M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$100M
D&A	$31M
EBIT	$114M
EBITDA	$145M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$2.2B
GROSS PROFIT	$529M
R&D Expenses	$49M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$387M
Other Expenses	-$22M
Operating Expenses	$414M
Cost & Expenses	$2.6B
OPERATING INCOME	$114M
Interest Income	$12M
Interest Expense	$5M
Other Income/Expenses	$10M
INCOME BEFORE TAX	$125M
Income Tax Expense	$25M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$100M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$100M
D&A	$31M
EBIT	$114M
EBITDA	$145M
EPS	$0
EPS Diluted	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$719M
Short-Term Investments	$500M
Net Receivables	$113M
Inventory	$747M
Other Current Assets	$613M
TOTAL CURRENT ASSETS	$2.7B
PP&E (Net)	$1.9B
Goodwill	$27M
Intangible Assets	$860M
Long-Term Investments	$768M
Tax Assets	$91M
Other Non-Current Assets	$89M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$6.4B
Account Payables	$1.4B
Short-Term Debt	$272M
Deferred Revenue	$224M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2.7B
Long-Term Debt	$38M
Deferred Revenue NC	$129M
Deferred Tax Liabilities	$23M
Other Non-Current Liabilities	$3M
TOTAL NON-CURRENT LIABILITIES	$394M
TOTAL LIABILITIES	$3.1B
Common Stock	$12.9K
Additional Paid-In Capital	$1.5B
Retained Earnings	$1.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$5M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$70M
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$6.4B
Total Debt	$565M
Net Debt	-$153M