10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-285005`
Period End Date	20140630
Filing Date	20140730
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	drq-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 76 Cash Flow Statement 52 Comprehensive Income 12

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$257.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$342.62M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$384.36M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$325.54M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$316.92M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$368.35M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$408.07M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$27.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.95M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.98M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.82M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$21.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.82M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$26.61M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.98M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.08B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.12B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$304.81M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$316.29M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.75M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.99M	USD	Point-in-time
Total assets	`Assets`	$1.45B	USD	Point-in-time
Total assets	`Assets`	$1.39B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$55.01M	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`	$8.14M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$69.71M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$45.02M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$18.98M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$21.56M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$23.78M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$17.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$169.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$142.79M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$178.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$152.59M	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: 100,000,000 shares authorized at $0.01 par value, 39,977,175 and 40,822,627 shares issued and outstanding at June 30, 2014 and December 31, 2013	`CommonStockValue`	$407.00K	USD	Point-in-time
Common stock: 100,000,000 shares authorized at $0.01 par value, 39,977,175 and 40,822,627 shares issued and outstanding at June 30, 2014 and December 31, 2013	`CommonStockValue`	$398.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$191.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$109.17M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.07B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.16B	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-3.74M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-20.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.24B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.27B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.45B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.39B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$188.86M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$361.92M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$349.34M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$189.91M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$40.40M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$33.17M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$65.84M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$72.47M	USD	2 Qtrs
Total revenues	`Revenues`	$415.19M	USD	2 Qtrs
Total revenues	`Revenues`	$222.03M	USD	1 Quarter
Total revenues	`Revenues`	$434.39M	USD	2 Qtrs
Total revenues	`Revenues`	$230.31M	USD	1 Quarter
Products	`CostOfGoodsSold`	$104.21M	USD	1 Quarter
Products	`CostOfGoodsSold`	$209.99M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$195.54M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$113.31M	USD	1 Quarter
Services	`CostOfServices`	$19.89M	USD	1 Quarter
Services	`CostOfServices`	$40.24M	USD	2 Qtrs
Services	`CostOfServices`	$20.79M	USD	1 Quarter
Services	`CostOfServices`	$39.55M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$133.20M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$124.99M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$249.53M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$235.78M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$23.27M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$38.90M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$49.45M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$25.52M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$9.34M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$21.63M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$10.85M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$18.36M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$165.82M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$306.87M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$161.36M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$306.79M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$108.39M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$68.95M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$56.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$127.52M	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$283.00K	USD	2 Qtrs
Interest income	`InterestIncomeOther`	$266.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$167.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$349.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$12.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$5.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$6.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$69.22M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$56.38M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$127.86M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$108.66M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$25.89M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$33.92M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$13.45M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$17.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$82.77M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$93.94M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$51.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.93M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.27	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.06	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.04	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$2.32	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.31	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.03	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.27	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.64M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.50M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.58M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.33M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.56M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.72M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.77M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.82M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$82.77M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$93.94M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$51.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.93M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.35M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.13M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.80M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.66M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$4.14M	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnDispositionOfAssets`	$22.00K	USD	2 Qtrs
Gain on sale of equipment	`GainLossOnDispositionOfAssets`	$149.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.51M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.75M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-15.20M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$33.27M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$24.66M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$32.71M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$921.00K	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.46M	USD	2 Qtrs
Excess tax benefits of stock option and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.68M	USD	2 Qtrs
Excess tax benefits of stock option and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$251.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.33M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$24.29M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$66.67M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$86.10M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.10M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.22M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$299.00K	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$470.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-22.80M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-22.75M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$90.02M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.39M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.75M	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.68M	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$251.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$9.43M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-88.39M	USD	2 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.73M	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`	$-41.73M	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`	$342.62M	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`	$325.54M	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`	$342.62M	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`	$325.54M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$82.77M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$93.94M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$51.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$42.93M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$10.70M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-9.51M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-24.13M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$16.43M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$33.42M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$110.37M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$62.02M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$58.63M	USD	2 Qtrs

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