10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001042893-18-000007`
Period End Date	20180331
Filing Date	20180426
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	drq-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 38 Cash Flow Statement 46 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
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$493.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$495.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$414.19M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	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`	$191.63M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$193.91M	USD	Point-in-time
Inventories, net	`InventoryNet`	$276.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$291.09M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.13M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.14M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	38.13M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	38.14M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$32.65M	USD	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$36.62M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.01B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.00B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$288.47M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$284.25M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.47M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.36M	USD	Point-in-time
Goodwill	`Goodwill`	$47.62M	USD	Point-in-time
Goodwill	`Goodwill`	$47.82M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$37.89M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$38.41M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$15.61M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$16.08M	USD	Point-in-time
Total assets	`Assets`	$1.40B	USD	Point-in-time
Total assets	`Assets`	$1.40B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$25.28M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$24.71M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$27.63M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$4.77M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$5.81M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$11.12M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$11.41M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$17.40M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$25.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$87.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$99.91M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.51M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$92.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$105.34M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`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, 38,136,258 and 38,132,693 shares issued and outstanding at March 31, 2018 and December 31, 2017	`CommonStockValue`	$372.00K	USD	Point-in-time
100,000,000 shares authorized at $0.01 par value, 38,136,258 and 38,132,693 shares issued and outstanding at March 31, 2018 and December 31, 2017	`CommonStockValue`	$381.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$23.96M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.40B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.39B	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-126.29M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-113.17M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.31B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.29B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.40B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.40B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$91.59M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$71.05M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$27.64M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$28.13M	USD	1 Quarter
Total revenues	`Revenues`	$99.17M	USD	1 Quarter
Total revenues	`Revenues`	$119.23M	USD	1 Quarter
Products	`CostOfGoodsSold`	$52.17M	USD	1 Quarter
Products	`CostOfGoodsSold`	$66.46M	USD	1 Quarter
Services	`CostOfServices`	$15.57M	USD	1 Quarter
Services	`CostOfServices`	$15.98M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$67.75M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$82.44M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$28.25M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$25.81M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$9.45M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$11.85M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$105.45M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$120.10M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-870.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.28M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.80M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$937.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$15.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.48M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$52.00K	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-42.00K	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$2.90M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$94.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.52M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.73M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.69M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.73M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$94.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.24M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.22M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.97M	USD	1 Quarter
Loss (gain) on sale of equipment	`GainLossOnDispositionOfAssets`	$22.00K	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`	$-5.00K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-7.04M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-1.20M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-17.24M	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`	$4.08M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-22.23M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.40M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	-	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$377.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.39M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.48M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.85M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.57M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$439.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$71.00K	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$19.87M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.28M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.50M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$52.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$403.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$403.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$52.00K	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`	$1.47M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.41M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.31M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$493.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$495.59M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$414.19M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$423.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$493.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$495.59M	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`	$423.50M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$94.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$7.86M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$13.12M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.95M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.74M	USD	1 Quarter

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