10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-212535`
Period End Date	20120331
Filing Date	20120507
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	drq-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 38 Cash Flow Statement 48 Comprehensive Income 6

Balance Sheet 71 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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$268.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$285.49M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$180.09M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$190.84M	USD	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$306.85M	USD	Point-in-time
Inventories, net	`InventoryNet`	$277.80M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$23.87M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.18M	USD	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$18.96M	USD	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$21.93M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.19M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$829.29M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.18M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.19M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.05M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$799.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$284.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$274.60M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.96M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.11M	USD	Point-in-time
Total assets	`Assets`	$1.09B	USD	Point-in-time
Total assets	`Assets`	$1.13B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$35.58M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$46.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$57.00K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$11.54M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$5.45M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$76.61M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$71.84M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$13.18M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$12.58M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$18.34M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$20.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.00M	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`	$9.61M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$161.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$160.61M	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
Common stock: 50,000,000 shares authorized at $0.01 par value, 40,187,051 and 40,175,426 shares issued and outstanding at March 31, 2012 and December 31, 2011	`CommonStockValue`	$402.00K	USD	Point-in-time
Common stock: 50,000,000 shares authorized at $0.01 par value, 40,187,051 and 40,175,426 shares issued and outstanding at March 31, 2012 and December 31, 2011	`CommonStockValue`	$402.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$164.49M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$162.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$809.58M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$780.78M	USD	Point-in-time
Accumulated other comprehensive gains (losses)	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-9.82M	USD	Point-in-time
Accumulated other comprehensive gains (losses)	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-18.44M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$964.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$925.24M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.13B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.09B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$120.18M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$149.71M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$27.42M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$17.48M	USD	1 Quarter
Total revenues	`Revenues`	$177.12M	USD	1 Quarter
Total revenues	`Revenues`	$137.67M	USD	1 Quarter
Products	`CostOfGoodsSold`	$66.92M	USD	1 Quarter
Products	`CostOfGoodsSold`	$92.12M	USD	1 Quarter
Services	`CostOfServices`	$13.19M	USD	1 Quarter
Services	`CostOfServices`	$14.93M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$80.11M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$107.05M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$20.43M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$18.26M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$9.61M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$8.70M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$107.07M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$137.09M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$40.03M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$30.59M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$99.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$103.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$30.68M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$40.13M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$9.01M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$11.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$28.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.67M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.54	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.72	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.71	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.54	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.18M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.05M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.32M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.41M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$28.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.67M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.75M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.06M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.46M	USD	1 Quarter
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$357.00K	USD	1 Quarter
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$2.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-218.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-334.00K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-3.78M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$8.15M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$25.34M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$7.20M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.36M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.64M	USD	1 Quarter
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$53.00K	USD	1 Quarter
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$48.00K	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.27M	USD	1 Quarter
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$14.63M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.47M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$40.57M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.87M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.81M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$157.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$1.04M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.76M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.71M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$12.00K	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$172.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$491.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$310.00K	USD	1 Quarter
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$48.00K	USD	1 Quarter
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$53.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$186.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$532.00K	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`	$1.56M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.09M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.43M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$268.28M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$285.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	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`	$268.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$285.49M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$28.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.67M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$8.62M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$7.30M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$28.98M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$37.42M	USD	1 Quarter

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