GLOBUS MEDICAL, INC. GMED Income Statement

Globus medical, inc. (GMED)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Sep'11	Jun'11
Sales
190,577	211,667	196,215	194,539	182,947	195,938	169,236	173,384	174,411	176,034	151,744	152,390	155,809	151,590	135,651	137,489	139,264	142,587	136,992	133,570	131,604	128,801	117,787	113,573	114,210	115,245	107,187	107,009	105,018	100,536	94,764	95,977	94,717	84,270	80,936
Cost of goods sold
48,864	48,760	45,387	43,990	41,838	45,954	37,849	37,637	37,970	40,856	36,798	37,199	35,600	39,002	31,453	32,731	31,519	34,720	32,927	32,579	32,107	31,188	27,686	26,583	25,312	28,034	25,315	23,501	23,493	19,557	18,872	18,379	18,391	17,141	17,269
Provision for litigation - cost of goods sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,260	-	-	0	0	-	-	-
Gross profit
141,713	162,907	150,828	150,549	141,109	149,984	131,387	135,747	136,441	135,178	114,946	115,191	120,209	112,588	104,198	104,758	107,745	107,867	104,065	100,991	99,497	97,613	90,101	86,990	88,898	88,471	81,872	82,248	81,525	80,979	75,892	77,598	76,326	67,129	63,667
Operating expenses
Research and development
15,402	15,495	14,508	15,746	14,324	13,757	15,527	13,523	12,689	11,413	10,887	10,713	10,666	13,643	10,265	10,594	10,030	9,325	9,250	9,081	8,656	7,883	8,146	7,694	7,443	6,418	6,568	7,037	6,847	7,228	7,022	6,940	6,736	5,916	5,735
Selling, general and administrative
93,539	92,139	88,455	88,379	85,784	83,641	75,131	77,125	75,694	72,958	63,362	64,438	67,059	60,839	54,207	53,312	53,798	51,276	52,170	54,506	52,289	48,543	46,986	46,425	46,678	45,669	45,702	45,750	45,397	44,626	41,780	41,231	41,225	34,762	33,753
Provision for litigation
-	-	-	-	-	-	-	-	-	-	2,537	243	-	-	0	3,056	-	-11,701	27	374	32	1,768	46	1,318	2,535	4,637	99	18,269	50	-1,587	-30	1,138	-307	78	-370
Amortization of intangibles
3,776	3,397	3,620	3,449	3,343	3,063	2,160	2,178	2,187	2,238	2,080	1,809	1,782	1,805	884	397	392	-	393	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition related costs
548	1,331	559	106	579	393	268	782	238	321	285	617	388	479	1,192	-519	674	-	1,550	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
113,265	112,927	108,767	107,680	104,030	106,732	93,086	93,608	90,808	86,818	79,151	77,820	79,895	76,866	66,548	66,840	64,894	51,870	63,390	63,961	60,977	57,969	55,178	55,437	56,656	56,724	52,369	71,056	52,294	51,869	48,832	47,033	48,268	40,600	39,858
Operating income
28,448	49,980	42,061	42,869	37,079	43,252	38,301	42,139	45,633	48,360	35,795	37,371	40,314	35,722	37,650	37,918	42,851	55,997	40,675	37,030	38,520	39,644	34,923	31,553	32,242	31,747	29,503	11,192	29,231	29,110	27,060	30,565	28,058	26,529	23,809
Interest income/(expense), net
4,324	4,453	4,377	4,417	4,159	4,164	3,852	2,971	2,291	1,862	1,738	1,590	1,418	1,164	795	602	496	406	342	278	278	228	181	195	201	-	-	-	-	-	-	-	-	-	-
Foreign currency transaction gain/(loss)
-468	-49	145	-210	189	47	-26	344	-5	228	-315	448	548	-565	284	-309	108	-290	-205	13	-677	-454	-388	-27	-30	-	-	-	-	-	-	-	-	-	-
Other income/(expense)
194	66	169	17	224	164	470	4,850	158	150	139	148	134	156	126	125	156	120	116	150	52	60	83	157	74	-	-	-	-	-	-	-	-	-	-
Total other income/(expense), net
4,050	4,470	4,691	4,224	4,572	4,375	4,296	8,165	2,444	2,240	1,562	2,186	2,100	755	1,205	418	760	236	253	441	-347	-166	-124	325	245	73	197	-221	279	-16	-45	-304	225	-172	-25
Income before income taxes
32,498	54,450	46,752	47,093	41,651	47,627	42,597	50,304	48,077	50,600	37,357	39,557	42,414	36,477	38,855	38,336	43,611	56,233	40,928	37,471	38,173	39,478	34,799	31,878	32,487	31,820	29,700	10,971	29,510	29,094	27,015	30,261	28,283	26,357	23,784
Income tax provision
6,549	8,920	8,445	8,930	8,441	10,876	7,389	5,327	8,539	26,224	11,766	10,890	13,700	12,179	12,628	12,530	15,601	18,632	14,447	13,417	13,525	11,840	11,738	11,231	11,348	10,835	9,390	3,545	9,619	8,327	10,528	11,260	10,707	9,494	7,864
Net income
25,949	45,530	38,307	38,163	33,210	36,751	35,208	44,977	39,538	24,376	25,591	28,667	28,714	24,298	26,227	25,806	28,010	37,601	26,481	24,054	24,648	27,638	23,061	20,647	21,139	20,985	20,310	7,426	19,891	20,767	16,487	19,001	17,576	16,863	15,920
Earnings per share
Basic
0.26	0.45	0.39	0.39	0.34	0.37	0.36	0.46	0.41	0.25	0.27	0.30	0.30	0.26	0.27	0.27	0.29	0.40	0.28	0.25	0.26	0.29	0.24	0.22	0.23	0.22	0.22	0.08	0.22	0.22	0.18	0.22	0.20	0.19	0.18
Diluted
0.25	0.43	0.38	0.38	0.33	0.36	0.35	0.44	0.39	0.25	0.26	0.29	0.30	0.25	0.27	0.27	0.29	0.38	0.28	0.25	0.26	0.29	0.24	0.22	0.22	0.22	0.22	0.08	0.21	0.22	0.18	0.21	0.19	0.19	0.18
Weighted average shares outstanding
Basic
99,635	99,612	99,238	99,023	98,727	98,538	98,328	97,830	96,840	96,497	96,318	96,161	95,996	95,866	95,739	95,585	95,398	95,279	95,138	94,979	94,788	94,582	94,399	94,212	93,715	93,340	93,028	92,415	91,805	91,746	90,111	88,354	88,221	88,063	72,430
Dilutive stock options
2,511	3,331	2,862	2,559	2,640	2,916	3,476	3,680	3,656	2,236	1,531	1,657	1,152	651	753	841	895	940	981	1,070	1,117	1,119	1,076	1,268	1,457	1,463	1,394	1,555	1,768	-	2,586	-	-	-	-
Diluted
102,146	102,943	102,100	101,582	101,367	101,454	101,804	101,510	100,496	98,733	97,849	97,818	97,148	96,517	96,492	96,426	96,293	96,219	96,119	96,049	95,905	95,701	95,475	95,480	95,172	94,803	94,422	93,970	93,573	94,004	92,697	91,254	90,877	90,398	74,652
Anti-dilutive stock options excluded from weighted average calculation
6,637	3,160	5,108	5,021	4,687	4,128	1,950	1,809	1,917	1,106	2,611	2,017	5,758	5,790	5,457	5,469	5,208	4,039	3,234	3,398	2,721	2,399	1,660	1,370	1,235	1,322	1,622	1,772	3,184	-	2,705	-	-	-	-