10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001042893-16-000009`
Period End Date	20160930
Filing Date	20161027
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	drq-20160930.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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$542.63M	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`	$298.70M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$396.97M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$319.78M	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`	$221.60M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.58M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.95M	shares	Point-in-time
Inventories, net	`InventoryNet`	$351.13M	USD	Point-in-time
Inventories, net	`InventoryNet`	$344.46M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.95M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.58M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$25.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.61M	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`	$16.99M	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
Total current assets	`AssetsCurrent`	$1.12B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.16B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$294.25M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$290.14M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.71M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.70M	USD	Point-in-time
Total assets	`Assets`	$1.46B	USD	Point-in-time
Total assets	`Assets`	$1.43B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$30.93M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$24.33M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$14.05M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$18.39M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$7.84M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$17.96M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$12.80M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$19.48M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$18.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$86.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$100.81M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.88M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$89.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$103.79M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`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, 37,576,727 and 37,951,223 shares issued and outstanding at September 30, 2016 and December 31, 2015	`CommonStockValue`	$378.00K	USD	Point-in-time
100,000,000 shares authorized at $0.01 par value, 37,576,727 and 37,951,223 shares issued and outstanding at September 30, 2016 and December 31, 2015	`CommonStockValue`	$374.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.50B	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`	$-131.47M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.32B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.37B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.43B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.46B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$101.28M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$521.41M	USD	3 Qtrs
Products	`SalesRevenueGoodsNet`	$157.79M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$352.52M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$121.27M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$43.61M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$22.36M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$80.12M	USD	3 Qtrs
Total revenues	`Revenues`	$201.40M	USD	1 Quarter
Total revenues	`Revenues`	$432.64M	USD	3 Qtrs
Total revenues	`Revenues`	$123.64M	USD	1 Quarter
Total revenues	`Revenues`	$642.68M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$88.92M	USD	1 Quarter
Products	`CostOfGoodsSold`	$206.21M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$63.88M	USD	1 Quarter
Products	`CostOfGoodsSold`	$293.28M	USD	3 Qtrs
Services	`CostOfServices`	$13.75M	USD	1 Quarter
Services	`CostOfServices`	$19.21M	USD	1 Quarter
Services	`CostOfServices`	$57.66M	USD	3 Qtrs
Services	`CostOfServices`	$44.40M	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	$350.93M	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	$108.13M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$77.63M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$250.61M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$31.49M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$67.87M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.50M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$33.05M	USD	3 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$10.57M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$35.35M	USD	3 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$11.73M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$137.15M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$315.15M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$454.15M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$100.71M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$117.49M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$188.53M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$64.25M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$22.93M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$345.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.97M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$945.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$559.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$15.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$10.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$119.45M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$64.60M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$189.08M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$23.88M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$13.82M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$45.42M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$4.86M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$27.53M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$143.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$50.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$91.92M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$19.01M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$3.72	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.32	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.45	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$3.70	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.51	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.32	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.44	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.37M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	38.35M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.56M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	38.60M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.70M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.79M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.55M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.55M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$143.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$50.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$91.92M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$19.01M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.09M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.78M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$9.79M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$9.44M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$3.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.30M	USD	1 Quarter
(Gain) loss on sale of equipment	`GainLossOnDispositionOfAssets`	$-73.00K	USD	3 Qtrs
(Gain) loss on sale of equipment	`GainLossOnDispositionOfAssets`	$93.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-7.42M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.44M	USD	3 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-60.33M	USD	3 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-92.08M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$-8.99M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$12.52M	USD	3 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-34.35M	USD	3 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.75M	USD	3 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$58.00K	USD	3 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$57.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-70.66M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-13.28M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$221.49M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$158.74M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.75M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.29M	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$183.00K	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$281.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.56M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.01M	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$24.24M	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$40.91M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.95M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$940.00K	USD	3 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$58.00K	USD	3 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$57.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-38.90M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-23.24M	USD	3 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-16.95M	USD	3 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.01M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$161.29M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$98.26M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$542.63M	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`	$298.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$396.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$542.63M	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`	$298.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$396.97M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$143.65M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$50.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$91.92M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$19.01M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-30.20M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-33.10M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-8.85M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-43.79M	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$99.86M	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.16M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$17.68M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$61.72M	USD	3 Qtrs

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