CONCEPTUS INC

CIK:0000896778|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) (USD $) Share data in Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Condensed Consolidated Statements of Operations [Abstract]
Net sales	$ 34,108,000	$ 29,029,000
Cost of goods sold	5,656,000	5,178,000
Gross profit	28,452,000	23,851,000
Operating expenses:
Research and development	2,776,000	2,503,000
Selling, general and administrative	21,661,000	25,219,000
Total operating expenses	24,437,000	27,722,000
Operating income (loss)	4,015,000	(3,871,000)
Interest income	74,000	105,000
Interest expense	(1,094,000)	(1,466,000)
Other income (expense), net	(30,000)	(79,000)
Total interest and other income (expense), net	(1,050,000)	(1,440,000)
Income (loss) before income taxes	2,965,000	(5,311,000)
Provision (benefit) for income taxes	1,108,000.000	(2,473,000.000)
Net income (loss)	$ 1,857,000	$ (2,838,000)
Basic income (loss) per share:
Net income (loss)	$ 0.06	$ (0.09)
Shares used in per share amounts	32,522	31,305
Diluted income (loss) per share:
Net income (loss)	$ 0.05	$ (0.09)
Shares used in per share amounts	34,635	31,305

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Cash flows from operating activities
Net income (loss)	$ 1,857	$ (2,838)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	1,138	1,278
Amortization of debt issuance costs	164	179
Accretion of notes payable	312	567
Amortization of intangibles	905	903
Amortization and accretion of discount and premium on investments	305	266
Stock-based compensation expense	1,618	1,695
Changes in operating assets and liabilities:
Accounts receivable, net	1,605	1,416
Inventories	(1,221)	(644)
Prepaid and other assets	18	(1,297)
Deferred tax asset	914	(2,479)
Accounts payable	1,617	(4,958)
Accrued compensation	(5,124)	(633)
Deferred tax liability	(42)	(42)
Other accrued and long term liabilities	932	192
Net cash provided by (used in) operating activities	4,998	(6,395)
Cash flows from investing activities
Sales of investments	15	6,061
Maturities of investments	14,500	18,729
Purchase of investments	(26,383)	(11,988)
Purchase of property and equipment	(1,420)	(1,074)
Net cash (used in) provided by investing activities	(13,288)	11,728
Cash flows from financing activities
Repayment of note payable		(36,210)
Proceeds from stock option exercises	748	118
Net cash provided by (used in) financing activities	748	(36,092)
Effect of exchange rate changes on cash and cash equivalents	(85)	97
Net increase (decrease) in cash and cash equivalents	(7,627)	(30,662)
Cash and cash equivalents at beginning of the period	29,494	42,237
Cash and cash equivalents at end of the period	$ 21,867	$ 11,575

Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 21,867	$ 29,494
Short-term investments	53,890	40,496
Accounts receivable, net of allowance for doubtful accounts of $522 and $412 at March 31, 2013 and December 31, 2012, respectively	20,808	23,035
Inventories	6,245	5,166
Prepaids	4,678	4,003
Short-term deferred tax assets	10,966	11,389
Other current assets	3,032	3,237
Total current assets	121,486	116,820
Property, plant and equipment, net	21,818	7,593
Intangible assets, net	18,552	19,568
Long-term investments	11,277	13,142
Restricted cash	2,200	2,200
Goodwill	16,400	16,911
Long-term deferred tax assets	64,858	65,363
Other assets	1,441	1,703
Total assets	258,032	243,300
Current liabilities:
Accounts payable	7,785	4,409
Accrued compensation	6,846	12,141
Other accrued liabilities	3,968	3,062
Total current liabilities	18,599	19,612
Commitments and contingencies (Note 14)
Facility financing obligation	12,595	449
Deferred tax liabilities	632	694
Long-term notes payable, net	47,830	47,518
Other accrued liabilities	657	655
Total liabilities	80,313	68,928
Stockholders' equity:
Common stock and additional paid-in capital: $0.003 par value, 50,000,000 shares authorized, 32,622,966 and 32,507,558 shares issued and 32,700,829 and 32,429,695 shares outstanding at March 31, 2013 and December 31, 2012	334,129	331,762
Accumulated other comprehensive loss	(3,359)	(2,482)
Accumulated deficit	(153,051)	(154,908)
Treasury stock, 77,863 shares, at cost
Total stockholders' equity	177,719	174,372
Total liabilities and stockholders' equity	$ 258,032	$ 243,300