Q1 2021 Earnings

Reported May 19, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Metric	Q1 2021	Q4 2020	Q1 2020	QoQ Change	YoY Change
Revenue	$4.1B	$5.2B	$2.7B	-20.6%	51.1%
Op. Income	$221M	$378M	$114M	-41.6%	93.2%
Gross Margin	19.7%	21.9%	19.2%	-2.2pp	0.5pp
Net Margin	5.4%	6.8%	3.6%	-1.4pp	1.8pp
EPS (Diluted)	$0.32	$0.51	$0.15	-37.9%	118.0%

Revenue Flow

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.3B
GROSS PROFIT	$817M
R&D Expenses	$49M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$591M
Other Expenses	-$44M
Operating Expenses	$597M
Cost & Expenses	$3.9B
OPERATING INCOME	$221M
Interest Income	$22M
Interest Expense	$540.0K
Other Income/Expenses	$50M
INCOME BEFORE TAX	$271M
Income Tax Expense	$45M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$226M
D&A	$37M
EBIT	$221M
EBITDA	$258M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$4.1B
Cost of Revenue	$3.3B
GROSS PROFIT	$817M
R&D Expenses	$49M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$591M
Other Expenses	-$44M
Operating Expenses	$597M
Cost & Expenses	$3.9B
OPERATING INCOME	$221M
Interest Income	$22M
Interest Expense	$540.0K
Other Income/Expenses	$50M
INCOME BEFORE TAX	$271M
Income Tax Expense	$45M
Net Income from Continuing Ops	$226M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$226M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$226M
D&A	$37M
EBIT	$221M
EBITDA	$258M
EPS	$0
EPS Diluted	$0

Balance Sheet

Item	Amount
Cash & Equivalents	$2.1B
Short-Term Investments	$544M
Net Receivables	$59M
Inventory	$850M
Other Current Assets	$469M
TOTAL CURRENT ASSETS	$4.0B
PP&E (Net)	$2.2B
Goodwill	$87M
Intangible Assets	$919M
Long-Term Investments	$730M
Tax Assets	$97M
Other Non-Current Assets	$44M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$8.1B
Account Payables	$1.6B
Short-Term Debt	$18M
Deferred Revenue	$263M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$0
Deferred Revenue NC	$154M
Deferred Tax Liabilities	$64M
Other Non-Current Liabilities	$22M
TOTAL NON-CURRENT LIABILITIES	$422M
TOTAL LIABILITIES	$3.5B
Common Stock	$13.2K
Additional Paid-In Capital	$1.7B
Retained Earnings	$2.8B
Treasury Stock	$0
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.5B
Minority Interest	$140M
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$8.1B
Total Debt	$245M
Net Debt	-$1.9B