10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-461028`
Period End Date	20120930
Filing Date	20121109
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	drq-20120930.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, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$255.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$245.85M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$263.42M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Trade receivables, net	`AccountsReceivableNetCurrent`	$240.84M	USD	Point-in-time
Inventories, net	`InventoryNet`	$350.05M	USD	Point-in-time
Inventories, net	`InventoryNet`	$277.80M	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
Common stock, shares issued	`CommonStockSharesIssued`	40.18M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$23.87M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.43M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$18.96M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.43M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.18M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.06M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$13.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$799.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$891.91M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$293.07M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$274.60M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.22M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.96M	USD	Point-in-time
Total assets	`Assets`	$1.09B	USD	Point-in-time
Total assets	`Assets`	$1.20B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.30M	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`	$4.52M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$75.03M	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`	$14.06M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$25.32M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$20.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$151.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$155.22M	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`	$9.52M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$160.61M	USD	Point-in-time
Total liabilities	`Liabilities`	$164.74M	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, 40,431,518 and 40,175,426 shares issued and outstanding at September 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, 40,431,518 and 40,175,426 shares issued and outstanding at September 30, 2012 and December 31, 2011	`CommonStockValue`	$404.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$162.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$177.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$780.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$869.04M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-18.44M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-15.03M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.03B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$925.24M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.09B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.20B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$368.90M	USD	3 Qtrs
Products	`SalesRevenueGoodsNet`	$134.24M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$159.47M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$455.85M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$60.80M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$88.71M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$31.39M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$20.80M	USD	1 Quarter
Total revenues	`Revenues`	$429.70M	USD	3 Qtrs
Total revenues	`Revenues`	$544.55M	USD	3 Qtrs
Total revenues	`Revenues`	$155.03M	USD	1 Quarter
Total revenues	`Revenues`	$190.86M	USD	1 Quarter
Products	`CostOfGoodsSold`	$287.57M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$216.22M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$103.61M	USD	1 Quarter
Products	`CostOfGoodsSold`	$80.71M	USD	1 Quarter
Services	`CostOfServices`	$49.63M	USD	3 Qtrs
Services	`CostOfServices`	$42.38M	USD	3 Qtrs
Services	`CostOfServices`	$15.77M	USD	1 Quarter
Services	`CostOfServices`	$18.21M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$96.49M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$337.20M	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	$121.82M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$258.60M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$20.76M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$18.27M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$52.57M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$58.61M	USD	3 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$9.55M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$25.73M	USD	3 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$8.50M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$28.64M	USD	3 Qtrs
Total cost and expenses	`CostsAndExpenses`	$152.14M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$424.45M	USD	3 Qtrs
Total cost and expenses	`CostsAndExpenses`	$123.26M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$336.90M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$120.10M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$38.72M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$92.80M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$31.78M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$84.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$329.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$269.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$148.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$15.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$37.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$21.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$120.41M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$93.03M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.84M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$38.86M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$9.21M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$8.58M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$32.16M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$25.89M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$88.26M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$23.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$67.14M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$29.66M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.58	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.68	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$2.19	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.58	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.18	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.67	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.73	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.05M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.29M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.42M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.06M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.30M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.49M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.31M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.59M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$88.26M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$23.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$67.14M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$29.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.97M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$19.41M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.30M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.44M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.92M	USD	3 Qtrs
Gain (loss) on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$636.00K	USD	3 Qtrs
Gain (loss) on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-240.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-459.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-837.00K	USD	3 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$59.49M	USD	3 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$28.05M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$70.21M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$29.50M	USD	3 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-5.41M	USD	3 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.46M	USD	3 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.22M	USD	3 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$297.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.22M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$21.55M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$51.24M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.92M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.61M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$45.11M	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$1.30M	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$2.26M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.30M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.86M	USD	3 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebt`	$257.00K	USD	3 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebt`	$34.00K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$404.00K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.04M	USD	3 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$297.00K	USD	3 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.22M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.22M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$444.00K	USD	3 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.84M	USD	3 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$889.00K	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.72M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-35.16M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$255.57M	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`	$298.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$263.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$255.57M	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`	$263.42M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$88.26M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$23.26M	USD	1 Quarter
Net income	`NetIncomeLoss`	$67.14M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$29.66M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$7.11M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-17.67M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-7.71M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$3.41M	USD	3 Qtrs
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$36.76M	USD	1 Quarter
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$91.67M	USD	3 Qtrs
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$5.60M	USD	1 Quarter
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$59.43M	USD	3 Qtrs

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