10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001193125-11-210760`
Period End Date	20110630
Filing Date	20110805
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	drq-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 77 Cash Flow Statement 52

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$225.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$197.79M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$250.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$158.89M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$193.16M	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
Inventories, net	`InventoryNet`	$243.43M	USD	Point-in-time
Inventories, net	`InventoryNet`	$265.47M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	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`	$21.84M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.04M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.06M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$17.96M	USD	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$18.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$688.25M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$748.55M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.82M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.04M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$247.16M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$271.11M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$13.14M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$13.48M	USD	Point-in-time
Total assets	`Assets`	$948.55M	USD	Point-in-time
Total assets	`Assets`	$1.03B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$31.15M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$326.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$79.00K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$5.83M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$1.99M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$48.89M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$62.99M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$11.90M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$11.32M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$17.14M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$19.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$138.97M	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
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.15M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$148.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$120.54M	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, 40,057,747 and 40,041,746 shares issued and outstanding at June 30, 2011 and December 31, 2010	`CommonStockValue`	$401.00K	USD	Point-in-time
Common stock: 50,000,000 shares authorized at $0.01 par value, 40,057,747 and 40,041,746 shares issued and outstanding at June 30, 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`	$154.42M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$685.51M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$729.39M	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$635.00K	USD	Point-in-time
Foreign currency translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-9.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$828.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$884.85M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$948.55M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.03B	USD	Point-in-time

Income Statement 77 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$122.19M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$234.66M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$244.02M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$114.48M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$40.00M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$40.51M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$22.52M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$19.81M	USD	1 Quarter
Total revenues	`Revenues`	$136.99M	USD	1 Quarter
Total revenues	`Revenues`	$284.53M	USD	2 Qtrs
Total revenues	`Revenues`	$274.66M	USD	2 Qtrs
Total revenues	`Revenues`	$142.00M	USD	1 Quarter
Products	`CostOfGoodsSold`	$66.54M	USD	1 Quarter
Products	`CostOfGoodsSold`	$135.93M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$135.51M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$68.58M	USD	1 Quarter
Services	`CostOfServices`	$13.41M	USD	1 Quarter
Services	`CostOfServices`	$13.01M	USD	1 Quarter
Services	`CostOfServices`	$26.61M	USD	2 Qtrs
Services	`CostOfServices`	$25.43M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$82.00M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$161.36M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$162.11M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$79.55M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$16.08M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$34.30M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$29.51M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$16.04M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$7.05M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$17.23M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$8.53M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$13.84M	USD	2 Qtrs
Special item	`OtherNonrecurringExpense`	$5.90M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$210.61M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$213.64M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$106.57M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$102.68M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$73.92M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$30.43M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$39.32M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$61.02M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$86.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$130.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$69.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$185.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$11.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$22.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$38.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$11.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$30.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$61.19M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$74.01M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$39.38M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$8.29M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$20.32M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$17.31M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$11.38M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$53.70M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$28.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$43.88M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.70	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.10	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$1.35	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.55	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.70	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.55	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.34	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.09	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.82M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.06M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.05M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.77M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.31M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.32M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.02M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.99M	shares	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$22.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$53.70M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$28.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$43.88M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.61M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.08M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.40M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.39M	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$122.00K	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$364.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$270.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.73M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$31.52M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$10.65M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$17.25M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$-4.32M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.06M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.37M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$249.00K	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.11M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-15.50M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$26.62M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.44M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$43.74M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.84M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.98M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$1.08M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$2.02M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.90M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.82M	USD	2 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebt`	$247.00K	USD	2 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebt`	$337.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$386.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.23M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.11M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$249.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.00M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$388.00K	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$274.00K	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-746.00K	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$28.11M	USD	2 Qtrs
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.27M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$225.90M	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`	$250.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$225.90M	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`	$250.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time

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