10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-315494`
Period End Date	20130630
Filing Date	20130802
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	drq-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 76 Cash Flow Statement 50 Comprehensive Income 12

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
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`	$257.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$248.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$325.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	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
Trade receivables, net	`AccountsReceivableNetCurrent`	$263.21M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$241.02M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	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
Inventories, net	`InventoryNet`	$362.18M	USD	Point-in-time
Inventories, net	`InventoryNet`	$376.59M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.66M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.48M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$25.32M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$23.84M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.38M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$17.96M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.66M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.48M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$18.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$924.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$987.21M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$299.09M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$295.98M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.18M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.08M	USD	Point-in-time
Total assets	`Assets`	$1.30B	USD	Point-in-time
Total assets	`Assets`	$1.23B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$28.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$44.95M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$10.69M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$5.60M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$86.31M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$53.36M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$16.72M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$14.62M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$22.51M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$20.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$155.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$148.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.93M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.76M	USD	Point-in-time
Total liabilities	`Liabilities`	$165.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$157.99M	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, 40,661,286 and 40,475,061 shares issued and outstanding at June 30, 2013 and December 31, 2012	`CommonStockValue`	$407.00K	USD	Point-in-time
Common stock: 50,000,000 shares authorized at $0.01 par value, 40,661,286 and 40,475,061 shares issued and outstanding at June 30, 2013 and December 31, 2012	`CommonStockValue`	$405.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$193.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$179.87M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$982.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$899.99M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-13.83M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-37.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.14B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.07B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.23B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.30B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$188.86M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$349.34M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$146.68M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$296.38M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$29.89M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$57.31M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$65.84M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$33.17M	USD	1 Quarter
Total revenues	`Revenues`	$222.03M	USD	1 Quarter
Total revenues	`Revenues`	$353.69M	USD	2 Qtrs
Total revenues	`Revenues`	$176.57M	USD	1 Quarter
Total revenues	`Revenues`	$415.19M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$209.99M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$91.83M	USD	1 Quarter
Products	`CostOfGoodsSold`	$183.95M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$113.31M	USD	1 Quarter
Services	`CostOfServices`	$16.50M	USD	1 Quarter
Services	`CostOfServices`	$39.55M	USD	2 Qtrs
Services	`CostOfServices`	$19.89M	USD	1 Quarter
Services	`CostOfServices`	$31.42M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$108.33M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$133.20M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$215.38M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$249.53M	USD	2 Qtrs
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`	$23.27M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$38.90M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$19.09M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$9.34M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$18.36M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$9.48M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$165.82M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$306.79M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$272.31M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$135.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$81.38M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$108.39M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$56.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$41.35M	USD	1 Quarter
Interest income	`InterestIncomeOther`	$167.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$78.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$181.00K	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$283.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$9.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$14.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$6.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$108.66M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$41.42M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$56.38M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$81.55M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$11.62M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$13.45M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$22.95M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$25.89M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$42.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$58.60M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$82.77M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$2.04	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$1.46	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.74	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.03	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.45	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.74	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.27M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.64M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.58M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.23M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.43M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.45M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.77M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.82M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$42.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$58.60M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$82.77M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.43M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.35M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$4.14M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.20M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.61M	USD	2 Qtrs
(Gain) loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$22.00K	USD	2 Qtrs
(Gain) loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-34.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.75M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-336.00K	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$40.76M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-15.20M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$63.15M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$24.66M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$921.00K	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.12M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.01M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.68M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$197.00K	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.33M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-32.49M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$86.10M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.10M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.74M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$299.00K	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$1.09M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-26.65M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.80M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.75M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.20M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.68M	USD	2 Qtrs
Excess tax benefits of stock option exercises	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.01M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.21M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.43M	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$496.00K	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.38M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$68.35M	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`	$257.19M	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`	$325.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$257.19M	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`	$325.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$298.58M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$42.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$29.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$58.60M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$82.77M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-9.51M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.32M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-24.13M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.69M	USD	2 Qtrs
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$54.91M	USD	2 Qtrs
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$33.42M	USD	1 Quarter
Total comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$58.63M	USD	2 Qtrs
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.