Actionable news
0
All posts from Actionable news
Actionable news in SWI: SOLARWINDS Inc,

Solarwinds: Condensed Consolidated Balance Sheets

The following excerpt is from the company's SEC filing.

(In thousands, except share and per share information)

(Unaudited)

September 30, 2015

Assets

Current assets:

Cash and cash equivalents

172,591

237,942

Short-term investments

20,945

12,384

Accounts receivable, net of allowances of $513 and $1,088 as of September 30, 2015 and December 31, 2014, respectively

54,268

50,791

Income tax receivable

Deferred taxes

Prepaid and other current assets

Total current assets

265,962

316,087

Property and equipment, net< br>
34,009

23,614

Long-term investments

17,423

Goodwill

432,409

363,585

Intangible assets, net

77,500

93,046

Other assets, net

10,071

10,447

Total assets

827,757

825,032

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

Accrued liabilities and other

24,427

35,276

Income taxes payable

Current portion of deferred revenue

177,727

154,799

Current debt obligations

90,000

Total current liabilities

303,202

199,255

Long-term liabilities:

Deferred revenue, net of current portion

10,806

Non-current deferred taxes

Other long-term liabilities

26,224

22,990

Total liabilities

343,942

236,173

Commitments and Contingencies

Stockholders’ equity:

Common stock, $0.001 par value: 123,000,000 shares authorized and 71,744,028 and 75,911,349 shares issued and outstanding as of September 30, 2015 and December 31, 2014, respectively

Additional paid-in capital

117,260

279,584

Accumulated other comprehensive loss

(23,339

(13,299

Accumulated earnings

389,822

322,498

Total stockholders’ equity

483,815

588,859

Total liabilities and stockholders’ equity

SolarWinds, Inc.

Condensed Consolidated Statements of Income

(In thousands, except per share information)

Three months ended September 30,

Nine months ended

Revenue

License

45,283

42,756

126,236

116,743

Maintenance and other

71,526

61,844

202,811

174,800

Subscription

14,816

38,446

18,732

Total revenue

131,625

112,862

367,493

310,275

Cost of license revenue

12,953

12,321

Cost of maintenance and other revenue

13,015

11,296

Cost of subscription revenue

14,529

Gross profit

117,128

101,284

326,996

277,771

Operating expenses:

Sales and marketing

44,532

37,538

131,117

106,772

Research and development

17,454

13,761

48,957

41,784

General and administrative

18,618

18,274

58,355

57,466

Total operating expenses

80,604

69,573

238,429

206,022

Operating income

36,524

31,711

88,567

71,749

Other income (expense):

Interest income

Interest expense

Other income, net

Total other income

Income before income taxes

36,879

31,892

91,401

71,864

Income tax expense

24,077

16,718

Net income

27,013

24,121

67,324

55,146

Net income per share:

Basic earnings per share

Diluted earnings per share

Weighted average shares used to compute net income per share:

Shares used in computation of basic earnings per share

73,808

75,508

75,496

75,375

Shares used in computation of diluted earnings per share

74,476

76,463

76,354

76,321

Reconciliation of GAAP to Non-GAAP Financial Measures

(In thousands, except per share amounts and percentages)

GAAP cost of revenue

14,497

11,578

40,497

32,504

Amortization of intangible assets (1)

(6,077

(5,185

(17,778

(15,096

Stock-based compensation expense and related employer-paid payroll taxes (2)

(1,578

(1,047

Non-GAAP cost of revenue

21,141

16,361

GAAP gross profit

Non-GAAP gross profit

123,757

106,836

346,352

293,914

GAAP sales and marketing expense

(4,303

(3,088

(13,300

(10,191

Restructuring charges (4)

Non-GAAP sales and marketing expense

40,229

34,437

117,817

96,568

GAAP research and development expense

(3,270

(1,423

(9,211

(5,407

Non-GAAP research and development expense

14,184

12,299

39,746

36,300

GAAP general and administrative expense

(2,402

(2,796

(7,321

(8,031

(4,678

(3,892

(14,738

(11,526

Acquisition related adjustments (3)

(2,510

(5,233

(3,905

(7,416

Non-GAAP general and administrative expense

11,461

31,390

26,588

GAAP operating expenses

(12,251

(8,403

(37,249

(27,124

(7,506

Non-GAAP operating expenses

65,874

55,839

188,953

159,456

GAAP operating income

25,099

23,127

12,803

38,827

28,171

Non-GAAP operating...


More