10-Q Filing

INNOVEX INTERNATIONAL, INC. CIK: 1042893 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-013109`
Period End Date	20190331
Filing Date	20190425
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	drq-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 36 Cash Flow Statement 48 Stockholders Equity 21 Comprehensive Income 6

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$414.81M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$493.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$418.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$495.59M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$208.16M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$202.16M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$194.55M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories, net	`InventoryNet`	$191.19M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	36.21M	shares	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$25.83M	USD	Point-in-time
Prepaids and other current assets	`OtherAssetsCurrent`	$41.52M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	36.26M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$852.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$843.34M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.26M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.21M	shares	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$4.40M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$274.12M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$270.42M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$7.84M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$8.00M	USD	Point-in-time
Goodwill	`Goodwill`	$7.78M	USD	Point-in-time
Goodwill	`Goodwill`	$7.71M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$34.97M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$34.47M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$15.47M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$14.72M	USD	Point-in-time
Total assets	`Assets`	$1.19B	USD	Point-in-time
Total assets	`Assets`	$1.18B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$26.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.66M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$3.97M	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$3.14M	USD	Point-in-time
Customer prepayments	`ContractWithCustomerLiability`	$9.65M	USD	Point-in-time
Customer prepayments	`ContractWithCustomerLiability`	$12.83M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$8.45M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$10.54M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.60M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$1.18M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$23.65M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$32.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$70.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$82.26M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$2.47M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$2.33M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$9.62M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$9.68M	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$3.19M	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$3.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$96.35M	USD	Point-in-time
Total liabilities	`Liabilities`	$88.32M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`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
100,000,000 shares authorized at $0.01 par value, 36,212,740 and 36,264,001 shares issued and outstanding at March 31, 2019 and December 31, 2018	`CommonStockValue`	$376.00K	USD	Point-in-time
100,000,000 shares authorized at $0.01 par value, 36,212,740 and 36,264,001 shares issued and outstanding at March 31, 2019 and December 31, 2018	`CommonStockValue`	$376.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$34.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.21B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.20B	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-143.49M	USD	Point-in-time
Accumulated other comprehensive losses	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-145.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.10B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.10B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.29B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.31B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.19B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.18B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Revenues from products and services	`RevenueFromContractWithCustomerExcludingAssessedTax`	$83.91M	USD	1 Quarter
Leasing	`OperatingLeasesIncomeStatementLeaseRevenue`	$10.66M	USD	1 Quarter
Leasing	`OperatingLeasesIncomeStatementLeaseRevenue`	$10.41M	USD	1 Quarter
Total revenues	`Revenues`	$94.32M	USD	1 Quarter
Total revenues	`Revenues`	$99.17M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$69.38M	USD	1 Quarter
Total cost of sales	`CostOfRevenue`	$73.48M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$24.54M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$27.55M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$3.62M	USD	1 Quarter
Engineering and product development	`EngineeringAndProductDevelopment`	$4.42M	USD	1 Quarter
Restructuring and other charges	`RestructuringAndOtherCharges`	$2.40M	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$22.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$13.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$105.45M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$99.92M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-5.60M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.28M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.01M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$121.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.48M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.72M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$2.33M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$2.90M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.56M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	37.73M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.56M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.73M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.24M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.36M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.86M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.97M	USD	1 Quarter
Restructuring and other charges	`RestructuringCostsAndAssetImpairmentCharges`	$1.27M	USD	1 Quarter
Restructuring and other charges	`RestructuringCostsAndAssetImpairmentCharges`	-	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$22.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$13.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-73.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.00K	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$5.60M	USD	1 Quarter
Trade receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-1.20M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-17.24M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$2.70M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.08M	USD	1 Quarter
Prepaids and other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-15.96M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-14.48M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.40M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-699.00K	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-377.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.39M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$838.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.57M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.53M	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$341.00K	USD	1 Quarter
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$71.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.19M	USD	1 Quarter
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$1.12M	USD	1 Quarter
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$52.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.12M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$52.00K	USD	1 Quarter
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$172.00K	USD	1 Quarter
Effect of exchange rate changes on cash activities	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.47M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.41M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.29M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$414.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$493.18M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$418.10M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$495.59M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$414.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$493.18M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$418.10M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$495.59M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Treasury stock shares (in shares)	`TreasuryStockSharesAcquired`	28.08M	shares	1 Quarter
Beginning Balance	`StockholdersEquity`	$1.10B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.10B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.29B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.31B	USD	Point-in-time
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$1.63M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$13.12M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.42M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$5.74M	USD	1 Quarter
ASC 606	`CumulativeEffectOnRetainedEarningsNetOfTax1`	$1.79M	USD	1 Quarter
Repurchase of common stock (28,078 shares)	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.12M	USD	1 Quarter
Stock option expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.97M	USD	1 Quarter
Stock option expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.86M	USD	1 Quarter
Other	`StockholdersEquityOther`	$-850.00K	USD	1 Quarter
Other	`StockholdersEquityOther`	$-79.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$1.10B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.10B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.29B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.31B	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.05M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.38M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$1.63M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$13.12M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-4.42M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$5.74M	USD	1 Quarter

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