10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-190425`
Period End Date	20140331
Filing Date	20140509
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	drq-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 38 Cash Flow Statement 44 Comprehensive Income 6

Balance Sheet 66 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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$420.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$384.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$257.19M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$318.97M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$266.09M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$279.25M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$397.36M	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`	$368.35M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.82M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.83M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$25.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.82M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$21.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.83M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$28.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.08B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.14B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$311.47M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$304.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.17M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.99M	USD	Point-in-time
Total assets	`Assets`	$1.39B	USD	Point-in-time
Total assets	`Assets`	$1.46B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$53.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.80M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$13.63M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$15.19M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$52.87M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$45.02M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$21.56M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$17.29M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$23.78M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$17.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$142.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$156.69M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.66M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$152.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$166.34M	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, 40,829,349 and 40,822,627 shares issued and outstanding at March 31, 2014 and December 31, 2013	`CommonStockValue`	$407.00K	USD	Point-in-time
Common stock: 50,000,000 shares authorized at $0.01 par value, 40,829,349 and 40,822,627 shares issued and outstanding at March 31, 2014 and December 31, 2013	`CommonStockValue`	$407.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$195.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$191.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.11B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.07B	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-14.44M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-20.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.29B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.24B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.39B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.46B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$172.00M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$160.49M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$32.67M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$32.07M	USD	1 Quarter
Total revenues	`Revenues`	$193.16M	USD	1 Quarter
Total revenues	`Revenues`	$204.07M	USD	1 Quarter
Products	`CostOfGoodsSold`	$91.33M	USD	1 Quarter
Products	`CostOfGoodsSold`	$96.67M	USD	1 Quarter
Services	`CostOfServices`	$19.46M	USD	1 Quarter
Services	`CostOfServices`	$19.66M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$116.33M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$110.79M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$15.63M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$23.93M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$9.02M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$10.78M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$145.51M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$140.98M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$58.57M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$52.18M	USD	1 Quarter
Interest income	`InterestIncomeOther`	$83.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$116.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$7.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$14.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$58.64M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$52.28M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$16.02M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$12.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$39.84M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.98	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.98	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.04	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.68M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.53M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.89M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.71M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$42.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$39.84M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.09M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.83M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-869.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.14M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-46.16M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-14.68M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$11.68M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$26.33M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-434.00K	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$5.10M	USD	1 Quarter
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$49.00K	USD	1 Quarter
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$606.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$13.15M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.12M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$48.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$74.98M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.22M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.07M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$166.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$356.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.90M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.86M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.07M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$463.00K	USD	1 Quarter
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$49.00K	USD	1 Quarter
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$606.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$512.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.67M	USD	1 Quarter
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$331.00K	USD	1 Quarter
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.97M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$61.78M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$36.58M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$420.94M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$384.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$257.19M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$318.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$420.94M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$384.36M	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`	$318.97M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$42.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$39.84M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-14.62M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$5.73M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$48.35M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$25.22M	USD	1 Quarter

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