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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net revenues:        
Products $ 431,950 $ 285,471 $ 824,872 $ 439,092
Services 48,807 40,390 93,038 70,450
Total net revenues 480,757 325,861 917,910 509,542
Cost of revenues:        
Cost of products 229,304 163,993 434,364 249,345
Cost of services 31,870 25,955 58,416 46,371
Total cost of revenues (exclusive of amortization shown separately below) 261,174 189,948 492,780 295,716
Gross profit 219,583 135,913 425,130 213,826
Research and development 33,680 28,214 66,962 45,441
Selling, general and administrative 71,979 59,579 146,199 93,529
Acquisition and integration costs 790 20,055 2,232 22,549
Restructuring 2,064 24 2,586 24
Asset impairment 6,719   6,719  
Amortization of intangible assets 11,468 8,855 23,969 10,538
Income from operations 92,883 19,186 176,463 41,745
Interest income 507 530 1,023 1,454
Interest expense 6,997 8,474 15,829 8,519
Gain on sale of business 74,856   74,856  
Other (expense) income, net (3,277) 1,126 (1,256) 1,493
Income before income taxes 157,972 12,368 235,257 36,173
Provision for income taxes 37,532 3,158 49,757 9,400
Net income 120,440 9,210 185,500 26,773
Other comprehensive income:        
Changes in value of financial instruments designated as cash flow hedges, net of tax expense (benefit) [1] 23 (319) (2,429) (1,865)
Foreign currency translation adjustments, net of tax of $0 17,729 (8,886) 22,264 (6,233)
Unrecognized pension gain, net of tax expense [2] 123   205  
Unrealized (loss) gain on investments, net of tax (benefit) expense [3] (168) 68 (249) 445
Total comprehensive income $ 138,147 $ 73 $ 205,291 $ 19,120
Net income per share:        
Basic $ 2.22 $ 0.17 $ 3.44 $ 0.50
Diluted 2.19 0.17 3.37 0.50
Cash dividends per common share $ 0.175 $ 0.170 $ 0.350 $ 0.340
Weighted average common shares outstanding:        
Basic 54,178 53,461 53,973 53,348
Diluted 55,001 53,806 54,979 53,685
[1] Tax expense (benefit) was $6 and $(209) for the three months ended June 30, 2017 and 2016, respectively. Tax (benefit) was $(1,813) and $(1,250) for the six months ended June 30, 2017 and 2016, respectively.
[2] Tax expense was $34 and $153 for the three and six months ended June 30, 2017, respectively.
[3] Tax (benefit) expense was $(46) and $44 for the three months ended June 30, 2017 and 2016, respectively. Tax (benefit) expense was $(185) and $299 for the six months ended June 30, 2017 and 2016, respectively.