10-Q Filing

WRIGHT MEDICAL GROUP INC CIK: 1137861 Q3 2010

Filing Information

Form Type	10-Q
Accession Number	`0000950123-10-097589`
Period End Date	20100930
Filing Date	20101029
Fiscal Year	2010
Fiscal Period	Q3
XBRL Instance	wmgi-20100930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 74 Cash Flow Statement 70

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$123.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$121.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$87.86M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$86.82M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$33.51M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, issued and outstanding	`CommonStockIssuedAndOutstanding`	39.19M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$101.72M	USD	Point-in-time
Common stock, issued and outstanding	`CommonStockIssuedAndOutstanding`	38.67M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$98.42M	USD	Point-in-time
Inventories	`InventoryNet`	$167.06M	USD	Point-in-time
Inventories	`InventoryNet`	$163.53M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.92M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.12M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$35.01M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$34.82M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.17M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$473.29M	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`	$151.86M	USD	Point-in-time
Goodwill	`Goodwill`	$53.86M	USD	Point-in-time
Goodwill	`Goodwill`	$53.72M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$17.73M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$16.73M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	-	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$34.12M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$5.25M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$6.17M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.79M	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`	$743.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.87M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$61.84M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$54.64M	USD	Point-in-time
Current portion of long-term obligations	`DebtCurrent`	$336.00K	USD	Point-in-time
Current portion of long-term obligations	`DebtCurrent`	$305.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$79.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$68.96M	USD	Point-in-time
Long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligations`	$200.33M	USD	Point-in-time
Long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligations`	$200.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$153.00K	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`	$4.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$284.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$273.88M	USD	Point-in-time
Common stock, $.01 par value, authorized: 100,000,000 shares; issued and outstanding: 39,189,950 shares at September 30, 2010 and 38,668,882 shares at December 31, 2009	`CommonStockValue`	$379.00K	USD	Point-in-time
Common stock, $.01 par value, authorized: 100,000,000 shares; issued and outstanding: 39,189,950 shares at September 30, 2010 and 38,668,882 shares at December 31, 2009	`CommonStockValue`	$374.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$387.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$376.65M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$22.91M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$22.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$49.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$40.48M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$440.41M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$459.43M	USD	Point-in-time
Total liabilities and stockholder's equity	`LiabilitiesAndStockholdersEquity`	$714.28M	USD	Point-in-time
Total liabilities and stockholder's equity	`LiabilitiesAndStockholdersEquity`	$743.69M	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$357.58M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$121.71M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$117.74M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$380.69M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$110.65M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$35.88M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$37.99M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$118.06M	USD	3 Qtrs
Gross profit	`GrossProfit`	$81.86M	USD	1 Quarter
Gross profit	`GrossProfit`	$83.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$262.62M	USD	3 Qtrs
Gross profit	`GrossProfit`	$246.93M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$63.70M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$196.13M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$64.88M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$209.09M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$8.78M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.54M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$26.46M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$28.40M	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.27M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.90M	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$708.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.99M	USD	3 Qtrs
Restructuring charges (Note 9)	`RestructuringCharges`	$131.00K	USD	1 Quarter
Restructuring charges (Note 9)	`RestructuringCharges`	$1.14M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$10.20M	USD	3 Qtrs
Restructuring charges (Note 9)	`RestructuringCharges`	$991.00K	USD	3 Qtrs
Restructuring charges (Note 9)	`RestructuringCharges`	$134.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$10.18M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$73.64M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$74.50M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$240.62M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$227.48M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$9.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$22.00M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$8.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$19.45M	USD	3 Qtrs
Interest expense, net	`InterestExpenseIncomeNet`	$4.55M	USD	3 Qtrs
Interest expense, net	`InterestExpenseIncomeNet`	$1.53M	USD	1 Quarter
Interest expense, net	`InterestExpenseIncomeNet`	$1.44M	USD	1 Quarter
Interest expense, net	`InterestExpenseIncomeNet`	$3.97M	USD	3 Qtrs
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-108.00K	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-270.00K	USD	3 Qtrs
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-313.00K	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$358.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.38M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.67M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$17.18M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.84M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.21M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.94M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.73M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.52M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.90M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$4.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.97M	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.24	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.27	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.24	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.26	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Weighted-average number of shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37,935.00	shares	1 Quarter
Weighted-average number of shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37,748.00	shares	3 Qtrs
Weighted-average number of shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37,331.00	shares	3 Qtrs
Weighted-average number of shares outstanding-basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37,431.00	shares	1 Quarter
Weighted-average number of shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37,551.00	shares	1 Quarter
Weighted-average number of shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37,395.00	shares	3 Qtrs
Weighted-average number of shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37,923.00	shares	3 Qtrs
Weighted-average number of shares outstanding-diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38,011.00	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.97M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$4.65M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.90M	USD	3 Qtrs
Depreciation	`Depreciation`	$23.86M	USD	3 Qtrs
Depreciation	`Depreciation`	$26.07M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$10.20M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$10.18M	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.27M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.90M	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$708.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.99M	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$777.00K	USD	3 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$738.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.47M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.71M	USD	3 Qtrs
Excess tax benefit from stock-based compensation arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-24.00K	USD	3 Qtrs
Excess tax benefit from stock-based compensation arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-288.00K	USD	3 Qtrs
Non-cash restructuring charges	`RestructuringCosts`	$246.00K	USD	3 Qtrs
Non-cash restructuring charges	`RestructuringCosts`	-	USD	3 Qtrs
Other	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$1.17M	USD	3 Qtrs
Other	`AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesOther`	$-14.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.38M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.92M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-2.74M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$10.42M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.20M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.53M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.97M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.95M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedAndOtherLiabilities`	$8.22M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedAndOtherLiabilities`	$-6.46M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$50.11M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$60.00M	USD	3 Qtrs
Capital expenditures	`CapitalExpenditures`	$-26.36M	USD	3 Qtrs
Capital expenditures	`CapitalExpenditures`	$-35.95M	USD	3 Qtrs
Acquisitions of businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$5.97M	USD	3 Qtrs
Acquisitions of businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.07M	USD	3 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.60M	USD	3 Qtrs
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$882.00K	USD	3 Qtrs
Investment in held-to-maturity marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	-	USD	3 Qtrs
Investment in held-to-maturity marketable securities	`PaymentsToAcquireHeldToMaturitySecurities`	$4.67M	USD	3 Qtrs
Sales and maturities of available-for-sale marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$65.19M	USD	3 Qtrs
Sales and maturities of available-for-sale marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$104.05M	USD	3 Qtrs
Investment in available-for-sale marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$81.07M	USD	3 Qtrs
Investment in available-for-sale marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$48.32M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.31M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.35M	USD	3 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$231.00K	USD	3 Qtrs
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$461.00K	USD	3 Qtrs
Principal payments of bank and other financing	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$968.00K	USD	3 Qtrs
Principal payments of bank and other financing	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$107.00K	USD	3 Qtrs
Financing under factoring agreements, net	`ProceedsFromRepaymentsOfOtherDebt`	$5.00K	USD	3 Qtrs
Financing under factoring agreements, net	`ProceedsFromRepaymentsOfOtherDebt`	$-58.00K	USD	3 Qtrs
Excess tax benefit from stock-based compensation arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$288.00K	USD	3 Qtrs
Excess tax benefit from stock-based compensation arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$24.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$90.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-214.00K	USD	3 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-485.00K	USD	3 Qtrs
Effect of exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$291.00K	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$33.37M	USD	3 Qtrs
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$38.76M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$84.41M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$123.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$121.23M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$87.86M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$84.41M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$123.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$121.23M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$87.86M	USD	Point-in-time

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