10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001042893-17-000006`
Period End Date	20170331
Filing Date	20170427
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	drq-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 38 Cash Flow Statement 50 Comprehensive Income 6

Balance Sheet 72 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`	$414.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$423.37M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	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`	$423.50M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$213.51M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$208.50M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$355.41M	USD	Point-in-time
Inventories, net	`InventoryNet`	$346.74M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.80M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.83M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.83M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	-	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.80M	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`	$37.81M	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`	$39.79M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.06B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.01B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$323.15M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$319.97M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$23.14M	USD	Point-in-time
Goodwill	`Goodwill`	$34.37M	USD	Point-in-time
Goodwill	`Goodwill`	$46.51M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$29.59M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$39.84M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$16.79M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$15.88M	USD	Point-in-time
Total assets	`Assets`	$1.45B	USD	Point-in-time
Total assets	`Assets`	$1.46B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$25.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.11M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$21.96M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$24.54M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$11.88M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$6.63M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$12.47M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$10.83M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$16.44M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$18.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$83.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$101.48M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$85.49M	USD	Point-in-time
Total liabilities	`Liabilities`	$104.98M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`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, 37,831,982 and 37,797,317 shares issued and outstanding at March 31, 2017 and December 31, 2016	`CommonStockValue`	$375.00K	USD	Point-in-time
100,000,000 shares authorized at $0.01 par value, 37,831,982 and 37,797,317 shares issued and outstanding at March 31, 2017 and December 31, 2016	`CommonStockValue`	$375.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$5.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.50B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.50B	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-142.55M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-150.41M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.37B	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`	$1.46B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$135.19M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$91.59M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$31.37M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$27.64M	USD	1 Quarter
Total revenues	`Revenues`	$166.56M	USD	1 Quarter
Total revenues	`Revenues`	$119.23M	USD	1 Quarter
Products	`CostOfGoodsSold`	$66.46M	USD	1 Quarter
Products	`CostOfGoodsSold`	$76.92M	USD	1 Quarter
Services	`CostOfServices`	$15.98M	USD	1 Quarter
Services	`CostOfServices`	$16.17M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$82.44M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$93.10M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.22M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$25.81M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$11.85M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$10.90M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$120.10M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$117.22M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-870.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$49.34M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$937.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$482.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$15.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$52.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$49.82M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-42.00K	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$13.05M	USD	1 Quarter
Net income	`NetIncomeLoss`	$36.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$94.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.97	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.75M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.52M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.85M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.69M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$36.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$94.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.78M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.19M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.22M	USD	1 Quarter
Loss (gain) on sale of equipment	`GainLossOnDispositionOfAssets`	$13.00K	USD	1 Quarter
Loss (gain) on sale of equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.12M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-962.00K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-7.04M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$8.94M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-1.90M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-11.59M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-3.05M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-8.05M	USD	1 Quarter
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$11.00K	USD	1 Quarter
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-22.23M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.77M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.48M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$52.52M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.73M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.85M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$439.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$76.00K	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$19.87M	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.66M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.28M	USD	1 Quarter
Repurchase of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Repurchase of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$155.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$403.00K	USD	1 Quarter
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$11.00K	USD	1 Quarter
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$166.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$403.00K	USD	1 Quarter
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$3.09M	USD	1 Quarter
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.00M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.31M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$42.03M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$414.19M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$423.37M	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`	$423.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$414.19M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$423.37M	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`	$423.50M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$36.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$94.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-1.27M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$7.86M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.95M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$35.50M	USD	1 Quarter

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