10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001042893-16-000007`
Period End Date	20160630
Filing Date	20160729
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	drq-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 76 Cash Flow Statement 52 Comprehensive Income 12

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$298.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$382.67M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$381.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$491.73M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$251.07M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$319.78M	USD	Point-in-time
Inventories, net	`InventoryNet`	$344.46M	USD	Point-in-time
Inventories, net	`InventoryNet`	$339.86M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.56M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.95M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.95M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$26.64M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.61M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.56M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$54.11M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$31.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.14B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.12B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$294.25M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$293.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.69M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.72M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.70M	USD	Point-in-time
Total assets	`Assets`	$1.45B	USD	Point-in-time
Total assets	`Assets`	$1.43B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$30.93M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$14.05M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$26.89M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$18.39M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$8.43M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$14.52M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$17.96M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$16.30M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$19.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$100.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$86.46M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.98M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$103.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$89.36M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, 10,000,000 shares authorized at $0.01 par value (none issued)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, 10,000,000 shares authorized at $0.01 par value (none issued)	`PreferredStockValue`	-	USD	Point-in-time
100,000,000 shares authorized at $0.01 par value, 37,563,379 and 37,951,223 shares issued and outstanding at June 30, 2016 and December 31, 2015	`CommonStockValue`	$374.00K	USD	Point-in-time
100,000,000 shares authorized at $0.01 par value, 37,563,379 and 37,951,223 shares issued and outstanding at June 30, 2016 and December 31, 2015	`CommonStockValue`	$378.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.48B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.43B	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-101.26M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-122.62M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.32B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.36B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.45B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.43B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$251.24M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$176.10M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$363.62M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$116.05M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$77.66M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$26.39M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$57.76M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$39.18M	USD	1 Quarter
Total revenues	`Revenues`	$142.44M	USD	1 Quarter
Total revenues	`Revenues`	$215.28M	USD	1 Quarter
Total revenues	`Revenues`	$309.00M	USD	2 Qtrs
Total revenues	`Revenues`	$441.28M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$98.35M	USD	1 Quarter
Products	`CostOfGoodsSold`	$65.41M	USD	1 Quarter
Products	`CostOfGoodsSold`	$204.36M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$142.33M	USD	2 Qtrs
Services	`CostOfServices`	$14.47M	USD	1 Quarter
Services	`CostOfServices`	$38.45M	USD	2 Qtrs
Services	`CostOfServices`	$30.65M	USD	2 Qtrs
Services	`CostOfServices`	$19.32M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$172.98M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$242.80M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$117.66M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$79.88M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$50.59M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$18.98M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.76M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$33.63M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$11.58M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$23.61M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$22.48M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$11.40M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$214.44M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$97.22M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$317.01M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$162.70M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$124.27M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$52.58M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$45.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$94.56M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$541.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.02M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$165.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$214.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$6.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$14.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$10.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$124.48M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$52.74M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$45.75M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$95.57M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$13.53M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$22.66M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$9.61M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$31.60M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$72.91M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$92.88M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.94	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.01	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.96	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.40	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.39	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.01	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.96	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.93	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.66M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	38.69M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	38.73M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.56M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.89M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.71M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.91M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.78M	shares	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$72.91M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$92.88M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.50M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.14M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$3.10M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.10M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$6.25M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$6.48M	USD	2 Qtrs
(Gain) loss on sale of equipment	`GainLossOnDispositionOfAssets`	$29.00K	USD	2 Qtrs
(Gain) loss on sale of equipment	`GainLossOnDispositionOfAssets`	$-75.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.83M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.93M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-64.20M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-70.51M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$-3.35M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$-763.00K	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-20.66M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.96M	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$26.00K	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$57.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-13.54M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-67.47M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$113.01M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$162.86M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.28M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.20M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$136.00K	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$139.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.07M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-15.14M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$24.24M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$19.94M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.95M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$508.00K	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$57.00K	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$26.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-23.70M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-17.93M	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-13.63M	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-41.00K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$110.39M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$83.97M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$298.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$382.67M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$381.34M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$491.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$298.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$382.67M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$381.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$491.73M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$72.91M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$92.88M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-10.69M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$21.84M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-20.09M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-21.35M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$51.55M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$82.18M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.05M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$61.05M	USD	1 Quarter

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