10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-335365`
Period End Date	20120630
Filing Date	20120806
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	drq-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 76 Cash Flow Statement 52 Comprehensive Income 12

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`	$245.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$248.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$250.12M	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
Trade receivables, net	`AccountsReceivableNetCurrent`	$220.11M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$180.09M	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
Inventories, net	`InventoryNet`	$277.80M	USD	Point-in-time
Inventories, net	`InventoryNet`	$340.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.06M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$23.87M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$19.69M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.38M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$18.96M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$852.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.06M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.38M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.18M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$799.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$274.60M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$286.51M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.96M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.40M	USD	Point-in-time
Total assets	`Assets`	$1.09B	USD	Point-in-time
Total assets	`Assets`	$1.15B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$41.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$35.58M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$5.45M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$8.14M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$63.04M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$76.61M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$12.58M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$12.00M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$24.95M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$20.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$149.80M	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`	$9.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$159.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$160.61M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`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, 40,376,275 and 40,175,426 shares issued and outstanding at June 30, 2012 and December 31, 2011	`CommonStockValue`	$402.00K	USD	Point-in-time
Common stock: 50,000,000 shares authorized at $0.01 par value, 40,376,275 and 40,175,426 shares issued and outstanding at June 30, 2012 and December 31, 2011	`CommonStockValue`	$404.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$172.99M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$162.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$839.38M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$780.78M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-18.44M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-22.14M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$925.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$990.64M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.15B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.09B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$234.66M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$146.68M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$114.48M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$296.38M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$57.31M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$29.89M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$22.52M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$40.00M	USD	2 Qtrs
Total revenues	`Revenues`	$136.99M	USD	1 Quarter
Total revenues	`Revenues`	$353.69M	USD	2 Qtrs
Total revenues	`Revenues`	$176.57M	USD	1 Quarter
Total revenues	`Revenues`	$274.66M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$68.58M	USD	1 Quarter
Products	`CostOfGoodsSold`	$135.51M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$91.83M	USD	1 Quarter
Products	`CostOfGoodsSold`	$183.95M	USD	2 Qtrs
Services	`CostOfServices`	$16.50M	USD	1 Quarter
Services	`CostOfServices`	$31.42M	USD	2 Qtrs
Services	`CostOfServices`	$26.61M	USD	2 Qtrs
Services	`CostOfServices`	$13.41M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$162.11M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$215.38M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$108.33M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$82.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$37.85M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$17.42M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$34.30M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$16.04M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$17.23M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$9.48M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$8.53M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$19.09M	USD	2 Qtrs
Total cost and expenses	`CostsAndExpenses`	$213.64M	USD	2 Qtrs
Total cost and expenses	`CostsAndExpenses`	$272.31M	USD	2 Qtrs
Total cost and expenses	`CostsAndExpenses`	$106.57M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$135.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$81.38M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$41.35M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$61.02M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$30.43M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$86.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$185.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$181.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$78.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$22.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$14.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$11.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$9.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.42M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$30.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$81.55M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$61.19M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$11.62M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$17.31M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$22.95M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$8.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$43.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$58.60M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.55	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.74	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.46	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$1.10	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.74	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.55	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.45	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.09	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.27M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.23M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.05M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.06M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.45M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.32M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.43M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.31M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$22.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$43.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$58.60M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$10.61M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.43M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.39M	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`	$2.61M	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-34.00K	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`	$-336.00K	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$31.52M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$40.76M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$17.25M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$63.15M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.12M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.06M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.01M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$249.00K	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$26.62M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$221.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.44M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-32.47M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.74M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.84M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$2.02M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$1.09M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.82M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.65M	USD	2 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebt`	$247.00K	USD	2 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebt`	$24.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.20M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$386.00K	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$249.00K	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.01M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$388.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.19M	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-746.00K	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$496.00K	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.27M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-50.43M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$248.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$250.12M	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`	$298.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$248.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$250.12M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$22.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$43.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$58.60M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.32M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.69M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$9.95M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.65M	USD	1 Quarter
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$54.91M	USD	2 Qtrs
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$53.83M	USD	2 Qtrs
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$24.86M	USD	1 Quarter
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$17.48M	USD	1 Quarter

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