10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-268580`
Period End Date	20150630
Filing Date	20150730
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	drq-20150630.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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$298.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$384.36M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$382.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$342.62M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$373.99M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$299.40M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$392.56M	USD	Point-in-time
Inventories, net	`InventoryNet`	$383.77M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$23.57M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	38.71M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$27.03M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	38.93M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	38.93M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$38.10M	USD	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$38.31M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	38.71M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.13B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.13B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$309.52M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$301.63M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$12.59M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$14.18M	USD	Point-in-time
Total assets	`Assets`	$1.45B	USD	Point-in-time
Total assets	`Assets`	$1.45B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$53.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.52M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$16.90M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$9.52M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$71.18M	USD	Point-in-time
Customer prepayments	`BillingsInExcessOfCost`	$39.61M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$21.53M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$19.10M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$35.20M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$18.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$126.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$198.64M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.30M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$5.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$131.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$204.06M	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 at June 30, 2015 and December 31, 2014, 38,705,278 and 38,932,508 shares issued and outstanding at June 30, 2015 and December 31, 2014	`CommonStockValue`	$385.00K	USD	Point-in-time
Common stock: 100,000,000 shares authorized at $0.01 par value at June 30, 2015 and December 31, 2014, 38,705,278 and 38,932,508 shares issued and outstanding at June 30, 2015 and December 31, 2014	`CommonStockValue`	$388.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$4.88M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$16.48M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.28B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.37B	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-60.90M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-50.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.25B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.32B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.45B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.45B	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$176.10M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$363.62M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$361.92M	USD	2 Qtrs
Products	`SalesRevenueGoodsNet`	$189.91M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$77.66M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$39.18M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$72.47M	USD	2 Qtrs
Services	`SalesRevenueServicesNet`	$40.40M	USD	1 Quarter
Total revenues	`Revenues`	$215.28M	USD	1 Quarter
Total revenues	`Revenues`	$434.39M	USD	2 Qtrs
Total revenues	`Revenues`	$230.31M	USD	1 Quarter
Total revenues	`Revenues`	$441.28M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$98.35M	USD	1 Quarter
Products	`CostOfGoodsSold`	$104.21M	USD	1 Quarter
Products	`CostOfGoodsSold`	$195.54M	USD	2 Qtrs
Products	`CostOfGoodsSold`	$204.36M	USD	2 Qtrs
Services	`CostOfServices`	$20.79M	USD	1 Quarter
Services	`CostOfServices`	$19.32M	USD	1 Quarter
Services	`CostOfServices`	$40.24M	USD	2 Qtrs
Services	`CostOfServices`	$38.45M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$235.78M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$124.99M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$242.80M	USD	2 Qtrs
Total cost of sales	`CostOfRevenue`	$117.66M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$25.52M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$50.59M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$33.63M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$49.45M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$10.85M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$23.61M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$21.63M	USD	2 Qtrs
Engineering and product development	`EngineeringAndProductDevelopment`	$11.40M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$317.01M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$162.70M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$161.36M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$306.87M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$127.52M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$68.95M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$52.58M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$124.27M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$214.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$349.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$165.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$266.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$12.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$6.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$69.22M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$52.74M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$124.48M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$127.86M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$31.60M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$33.92M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$17.89M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$13.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$93.94M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$92.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$51.32M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.32	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$2.40	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$1.27	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.31	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.27	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.39	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.50M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	40.33M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.69M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.73M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.89M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.72M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	38.91M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.56M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$93.94M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$92.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$51.32M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.13M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.14M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$2.80M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$6.48M	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$3.10M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.66M	USD	2 Qtrs
Loss (gain) on sale of equipment	`GainLossOnDispositionOfAssets`	$149.00K	USD	2 Qtrs
Loss (gain) on sale of equipment	`GainLossOnDispositionOfAssets`	$-75.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.51M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.93M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$33.27M	USD	2 Qtrs
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-70.51M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$32.71M	USD	2 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$-3.35M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-3.19M	USD	2 Qtrs
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.96M	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$57.00K	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$251.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$17.64M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-67.47M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$66.67M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$113.01M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.20M	USD	2 Qtrs
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.22M	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$136.00K	USD	2 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$470.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.07M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-22.75M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$19.94M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$90.02M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.39M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.95M	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$251.00K	USD	2 Qtrs
Excess tax benefits of stock options and awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$57.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-88.39M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-179.35M	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`	$-41.00K	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$83.97M	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`	$298.70M	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`	$382.67M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$342.62M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$298.70M	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`	$382.67M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$342.62M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$93.94M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$39.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$92.88M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$51.32M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$16.43M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$10.70M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$21.84M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-10.69M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$61.05M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$62.02M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$110.37M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$82.18M	USD	2 Qtrs

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