10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-131038`
Period End Date	20110331
Filing Date	20110509
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	drq-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 39 Cash Flow Statement 48

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$197.79M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$217.42M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$268.28M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$157.21M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$158.89M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$243.43M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$253.82M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$21.94M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$22.23M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.05M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$17.36M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.04M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$18.13M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.05M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$688.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$718.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.04M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$262.58M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$247.16M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$13.21M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$13.14M	USD	Point-in-time
Total assets	`Assets`	$948.55M	USD	Point-in-time
Total assets	`Assets`	$994.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$31.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.65M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$326.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$155.00K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$1.99M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$8.69M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$58.26M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$48.89M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$11.90M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$11.98M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$17.14M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$14.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$126.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$111.39M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$120.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$136.14M	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
Common stock: 50,000,000 shares authorized at $0.01 par value, 40,049,497 and 40,041,746 shares issued and outstanding at March 31, 2011 and December 31, 2010	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock: 50,000,000 shares authorized at $0.01 par value, 40,049,497 and 40,041,746 shares issued and outstanding at March 31, 2011 and December 31, 2010	`CommonStockValue`	$400.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$151.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$152.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$685.51M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$707.18M	USD	Point-in-time
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$-9.32M	USD	Point-in-time
Foreign currency translation adjustment	`ForeignCurrencyTranslationAdjustment`	$-2.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$858.55M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$828.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$948.55M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$994.68M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$120.18M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$121.83M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$20.70M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$17.48M	USD	1 Quarter
Total revenues	`Revenues`	$137.67M	USD	1 Quarter
Total revenues	`Revenues`	$142.53M	USD	1 Quarter
Products	`CostOfGoodsSold`	$66.92M	USD	1 Quarter
Products	`CostOfGoodsSold`	$69.39M	USD	1 Quarter
Services	`CostOfServices`	$13.19M	USD	1 Quarter
Services	`CostOfServices`	$12.42M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$81.81M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$80.11M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$18.26M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.43M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$8.70M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$6.79M	USD	1 Quarter
Special item	`OtherNonrecurringExpense`	$5.90M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$107.07M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$107.94M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$30.59M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$34.60M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$99.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$61.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$27.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$30.68M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.63M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$8.94M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$9.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.70M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.54	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.65	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.64	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.54	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.05M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.73M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.97M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.32M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$21.67M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.88M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.75M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.19M	USD	1 Quarter
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$357.00K	USD	1 Quarter
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$3.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-218.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.80M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-3.78M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$8.30M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-4.79M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$7.20M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.61M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.36M	USD	1 Quarter
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$833.00K	USD	1 Quarter
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$48.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$14.63M	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-317.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$40.57M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.91M	USD	1 Quarter
Purchase of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.59M	USD	1 Quarter
Purchase of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.81M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$1.04M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$481.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.11M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.76M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$172.00K	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$171.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.72M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$310.00K	USD	1 Quarter
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$833.00K	USD	1 Quarter
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$48.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$186.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.38M	USD	1 Quarter
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$433.00K	USD	1 Quarter
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-549.00K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$19.63M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.43M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$197.79M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$217.42M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$268.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$197.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$217.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$268.28M	USD	Point-in-time

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