10-Q Filing

WRIGHT MEDICAL GROUP INC CIK: 1137861 Q2 2010

Filing Information

Form Type	10-Q
Accession Number	`0000950123-10-071305`
Period End Date	20100630
Filing Date	20100803
Fiscal Year	2010
Fiscal Period	Q2
XBRL Instance	wmgi-20100630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 74 Cash Flow Statement 68

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$116.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$87.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.32M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.41M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$60.08M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$86.82M	USD	Point-in-time
Common stock, issued and outstanding	`CommonStockIssuedAndOutstanding`	38.67M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$100.73M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$101.72M	USD	Point-in-time
Common stock, issued and outstanding	`CommonStockIssuedAndOutstanding`	39.22M	shares	Point-in-time
Inventories	`InventoryNet`	$163.53M	USD	Point-in-time
Inventories	`InventoryNet`	$164.88M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$9.49M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.12M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$34.82M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$34.86M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.17M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$474.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$490.60M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$139.71M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$142.74M	USD	Point-in-time
Goodwill	`Goodwill`	$53.86M	USD	Point-in-time
Goodwill	`Goodwill`	$52.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$17.73M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$16.69M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$31.65M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$5.25M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$5.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.14M	USD	Point-in-time
Total assets	`Assets`	$714.28M	USD	Point-in-time
Total assets	`Assets`	$730.54M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.81M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$54.64M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$61.62M	USD	Point-in-time
Current portion of long-term obligations	`DebtCurrent`	$348.00K	USD	Point-in-time
Current portion of long-term obligations	`DebtCurrent`	$336.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$80.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.96M	USD	Point-in-time
Long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligations`	$200.19M	USD	Point-in-time
Long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligations`	$200.33M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$143.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$157.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.44M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$4.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$273.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$285.60M	USD	Point-in-time
Common stock, $.01 par value, authorized: 100,000,000 shares; issued and outstanding: 39,224,970 shares at June 30, 2010 and 38,668,882 shares at December 31, 2009	`CommonStockValue`	$374.00K	USD	Point-in-time
Common stock, $.01 par value, authorized: 100,000,000 shares; issued and outstanding: 39,224,970 shares at June 30, 2010 and 38,668,882 shares at December 31, 2009	`CommonStockValue`	$379.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$376.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$383.91M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$15.84M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$22.91M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$40.48M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$44.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$444.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$440.41M	USD	Point-in-time
Total liabilities and stockholder's equity	`LiabilitiesAndStockholdersEquity`	$730.54M	USD	Point-in-time
Total liabilities and stockholder's equity	`LiabilitiesAndStockholdersEquity`	$714.28M	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$118.93M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$258.98M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$127.73M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$239.84M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$74.77M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$39.93M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$80.08M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$36.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$165.07M	USD	2 Qtrs
Gross profit	`GrossProfit`	$87.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$82.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$178.90M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$67.77M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$65.82M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$144.21M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$132.43M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$9.02M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$19.62M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$9.78M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$17.92M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.31M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.62M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.28M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$634.00K	USD	1 Quarter
Restructuring charges (Note 9)	`RestructuringCharges`	$461.00K	USD	1 Quarter
Restructuring charges (Note 9)	`RestructuringCharges`	$794.00K	USD	1 Quarter
Restructuring charges (Note 9)	`RestructuringCharges`	$860.00K	USD	2 Qtrs
Restructuring charges (Note 9)	`RestructuringCharges`	$1.00M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$7.11M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$6.87M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$166.12M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$78.65M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$153.84M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$76.94M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.24M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$12.78M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$9.15M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$11.23M	USD	2 Qtrs
Interest expense, net	`InterestExpenseIncomeNet`	$1.51M	USD	1 Quarter
Interest expense, net	`InterestExpenseIncomeNet`	$2.54M	USD	2 Qtrs
Interest expense, net	`InterestExpenseIncomeNet`	$3.02M	USD	2 Qtrs
Interest expense, net	`InterestExpenseIncomeNet`	$1.29M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$466.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$43.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$175.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$103.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.06M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.81M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.81M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.16M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.96M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.49M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.42M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.63M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.43M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.74M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.32M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.11	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.15	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.11	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.15	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Weighted-average number of shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37,652.00	shares	2 Qtrs
Weighted-average number of shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37,332.00	shares	1 Quarter
Weighted-average number of shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37,764.00	shares	1 Quarter
Weighted-average number of shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37,281.00	shares	2 Qtrs
Weighted-average number of shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37,884.00	shares	2 Qtrs
Weighted-average number of shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37,960.00	shares	1 Quarter
Weighted-average number of shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37,404.00	shares	1 Quarter
Weighted-average number of shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37,362.00	shares	2 Qtrs

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.32M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$5.74M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.43M	USD	1 Quarter
Depreciation	`Depreciation`	$15.77M	USD	2 Qtrs
Depreciation	`Depreciation`	$16.97M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$7.11M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$6.87M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.31M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.62M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.28M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$634.00K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$492.00K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$493.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.73M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.42M	USD	2 Qtrs
Excess tax benefit from stock-based compensation arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-283.00K	USD	2 Qtrs
Excess tax benefit from stock-based compensation arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	2 Qtrs
Non-cash restructuring charges	`RestructuringCosts`	$248.00K	USD	2 Qtrs
Non-cash restructuring charges	`RestructuringCosts`	-	USD	2 Qtrs
Other	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$-8.00K	USD	2 Qtrs
Other	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$953.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.78M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.95M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$6.92M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.33M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$10.83M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.19M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.09M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-588.00K	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedAndOtherLiabilities`	$11.85M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedAndOtherLiabilities`	$-6.99M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.98M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$46.69M	USD	2 Qtrs
Capital expenditures	`CapitalExpenditures`	$-19.06M	USD	2 Qtrs
Capital expenditures	`CapitalExpenditures`	$-22.38M	USD	2 Qtrs
Acquisitions of businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.07M	USD	2 Qtrs
Acquisitions of businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$5.58M	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.00M	USD	2 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$282.00K	USD	2 Qtrs
Proceeds from maturity of available-for-sale marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$44.69M	USD	2 Qtrs
Proceeds from maturity of available-for-sale marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$49.52M	USD	2 Qtrs
Investment in available-for-sale marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$29.30M	USD	2 Qtrs
Investment in available-for-sale marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$50.31M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.07M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.70M	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$452.00K	USD	2 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$186.00K	USD	2 Qtrs
Principal payments of bank and other financing	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$67.00K	USD	2 Qtrs
Principal payments of bank and other financing	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$827.00K	USD	2 Qtrs
Financing under factoring agreements, net	`ProceedsFromRepaymentsOfOtherDebt`	$5.00K	USD	2 Qtrs
Financing under factoring agreements, net	`ProceedsFromRepaymentsOfOtherDebt`	$-58.00K	USD	2 Qtrs
Excess tax benefit from stock-based compensation arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$283.00K	USD	2 Qtrs
Excess tax benefit from stock-based compensation arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-87.00K	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$61.00K	USD	2 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-733.00K	USD	2 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-631.00K	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$14.91M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.60M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$116.47M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$87.86M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$99.32M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$84.41M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$87.86M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$99.32M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$116.47M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$84.41M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.