10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-390042`
Period End Date	20140930
Filing Date	20141031
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	drq-20140930.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`	$384.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$314.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$380.94M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$331.57M	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, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$407.92M	USD	Point-in-time
Inventories, net	`InventoryNet`	$368.35M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.47M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.82M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$22.58M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.95M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.47M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$26.94M	USD	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
Total current assets	`AssetsCurrent`	$1.08B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.10B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$310.30M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$304.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.99M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$14.76M	USD	Point-in-time
Total assets	`Assets`	$1.39B	USD	Point-in-time
Total assets	`Assets`	$1.43B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$48.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$38.80M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$10.85M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$13.63M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$57.81M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$45.02M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$20.96M	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`	$31.67M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$142.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$169.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$178.92M	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, 39,473,809 and 40,822,627 shares issued and outstanding at September 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, 39,473,809 and 40,822,627 shares issued and outstanding at September 30, 2014 and December 31, 2013	`CommonStockValue`	$393.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$191.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$62.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.22B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.07B	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-32.17M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-20.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.25B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.24B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.43B	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`	$198.83M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$536.78M	USD	3 Qtrs
Products	`SalesRevenueGoodsNet`	$187.44M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$560.74M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$42.92M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$103.13M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$115.40M	USD	3 Qtrs
Services	`SalesRevenueServicesNet`	$37.29M	USD	1 Quarter
Total revenues	`Revenues`	$241.75M	USD	1 Quarter
Total revenues	`Revenues`	$639.91M	USD	3 Qtrs
Total revenues	`Revenues`	$676.14M	USD	3 Qtrs
Total revenues	`Revenues`	$224.72M	USD	1 Quarter
Products	`CostOfGoodsSold`	$309.18M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$113.64M	USD	1 Quarter
Products	`CostOfGoodsSold`	$323.17M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$113.18M	USD	1 Quarter
Services	`CostOfServices`	$21.61M	USD	1 Quarter
Services	`CostOfServices`	$58.49M	USD	3 Qtrs
Services	`CostOfServices`	$18.95M	USD	1 Quarter
Services	`CostOfServices`	$61.85M	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	$135.25M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$371.03M	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	$381.66M	USD	3 Qtrs
Total cost of sales	`CostOfRevenue`	$132.13M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$68.73M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$29.83M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$70.30M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$20.84M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$34.30M	USD	3 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$29.14M	USD	3 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$10.78M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$12.66M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$168.76M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$475.62M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$172.74M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$479.53M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$51.98M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$160.38M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$72.99M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$200.51M	USD	3 Qtrs
Interest income	`InterestIncomeOther`	$486.00K	USD	3 Qtrs
Interest income	`InterestIncomeOther`	$206.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$203.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$555.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$4.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$15.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$24.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$73.19M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$160.84M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$52.18M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$201.05M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$17.51M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$51.43M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$12.19M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$38.08M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$55.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$149.62M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$39.99M	USD	1 Quarter
Net income	`NetIncomeLoss`	$122.76M	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$3.02	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$1.41	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$3.72	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.98	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$3.01	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$3.70	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.40	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.98	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.62M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.68M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.21M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	39.63M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.88M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.44M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.82M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.91M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$55.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$149.62M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$39.99M	USD	1 Quarter
Net income	`NetIncomeLoss`	$122.76M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$21.72M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.77M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$6.26M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$8.64M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$3.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.10M	USD	1 Quarter
(Gain) loss on sale of equipment	`GainLossOnDispositionOfAssets`	$199.00K	USD	3 Qtrs
(Gain) loss on sale of equipment	`GainLossOnDispositionOfAssets`	$-122.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.44M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.88M	USD	3 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$55.17M	USD	3 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-17.73M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$44.05M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$12.07M	USD	3 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.59M	USD	3 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$9.38M	USD	3 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.89M	USD	3 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$309.00K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$28.77M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-12.91M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$140.85M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$102.58M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.16M	USD	3 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.04M	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$228.00K	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$543.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-29.81M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-30.62M	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$140.26M	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.36M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.86M	USD	3 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.89M	USD	3 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$309.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-138.09M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$11.26M	USD	3 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.45M	USD	3 Qtrs
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.27M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-69.39M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$123.75M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$384.36M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$314.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$380.94M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$257.19M	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`	$314.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$380.94M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$257.19M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$55.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$149.62M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$39.99M	USD	1 Quarter
Net income	`NetIncomeLoss`	$122.76M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-12.00M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$16.19M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-7.94M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-28.43M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$56.19M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$27.25M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$137.62M	USD	3 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$114.82M	USD	3 Qtrs

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