10-Q Filing

ESCO TECHNOLOGIES INC CIK: 866706 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0000866706-11-000009`
Period End Date	20110331
Filing Date	20110505
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	ese-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 48 Cash Flow Statement 49

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$8.78M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$12.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.51M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$18.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$44.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.60M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$19.55M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$137.79M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$141.10M	USD	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 authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Costs and estimated earnings on long-term contracts, less progress billings of $8,784 and $12,189, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$12.74M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Costs and estimated earnings on long-term contracts, less progress billings of $8,784 and $12,189, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$10.08M	USD	Point-in-time
Inventories	`InventoryNet`	$94.70M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$83.03M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Current portion of deferred tax assets	`DeferredTaxAssetsNetCurrent`	$15.81M	USD	Point-in-time
Current portion of deferred tax assets	`DeferredTaxAssetsNetCurrent`	$16.23M	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
Common stock, shares issued	`CommonStockSharesIssued`	29.93M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$17.59M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$17.17M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.84M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$296.36M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.34M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$309.00M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.33M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$72.97M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$72.56M	USD	Point-in-time
Goodwill	`Goodwill`	$355.66M	USD	Point-in-time
Goodwill	`Goodwill`	$360.95M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$231.94M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$229.74M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.47M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.98M	USD	Point-in-time
Total assets	`Assets`	$974.29M	USD	Point-in-time
Total assets	`Assets`	$994.33M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt	`DebtCurrent`	$50.00M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt	`DebtCurrent`	$51.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$47.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$59.09M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $18,482 and $19,547, respectively	`BillingsInExcessOfCost`	$23.59M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $18,482 and $19,547, respectively	`BillingsInExcessOfCost`	$5.73M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$23.76M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$20.05M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$23.86M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$21.91M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$26.49M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$31.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$186.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$198.04M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$29.98M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$27.23M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$78.92M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$79.39M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$17.96M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$18.71M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$92.00M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$104.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$418.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$414.91M	USD	Point-in-time
Preferred stock, par value $.01 per share, authorized 10,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.01 per share, authorized 10,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 29,930,279 and 29,839,343 shares, respectively	`CommonStockValue`	$298.00K	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 29,930,279 and 29,839,343 shares, respectively	`CommonStockValue`	$299.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$273.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$270.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$379.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$359.27M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.79M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.50M	USD	Point-in-time
Total shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$638.99M	USD	Point-in-time
Total shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$615.72M	USD	Point-in-time
Less treasury stock, at cost: 3,328,926 and 3,338,986 common shares, respectively	`TreasuryStockValue`	$59.58M	USD	Point-in-time
Less treasury stock, at cost: 3,328,926 and 3,338,986 common shares, respectively	`TreasuryStockValue`	$59.74M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$555.98M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$579.41M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$974.29M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$994.33M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$129.28M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$166.75M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$326.68M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$241.99M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$79.40M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$196.08M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$146.84M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$98.59M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$87.05M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$76.02M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$43.41M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$36.81M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$5.89M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.04M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$5.77M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.89M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-755.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-538.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.24M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-1.31M	USD	2 Qtrs
Other (income) expenses, net	`OtherNonoperatingIncomeExpense`	$-125.00K	USD	1 Quarter
Other (income) expenses, net	`OtherNonoperatingIncomeExpense`	$-1.31M	USD	2 Qtrs
Other (income) expenses, net	`OtherNonoperatingIncomeExpense`	$-288.00K	USD	1 Quarter
Other (income) expenses, net	`OtherNonoperatingIncomeExpense`	$493.00K	USD	2 Qtrs
Total costs and expenses	`TotalCostsAndExpenses`	$232.17M	USD	2 Qtrs
Total costs and expenses	`TotalCostsAndExpenses`	$289.84M	USD	2 Qtrs
Total costs and expenses	`TotalCostsAndExpenses`	$120.14M	USD	1 Quarter
Total costs and expenses	`TotalCostsAndExpenses`	$145.70M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.14M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.81M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$21.05M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$36.85M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$7.82M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.41M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$12.81M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$3.18M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$6.40M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$5.97M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$13.23M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$24.04M	USD	2 Qtrs
Basic - Net earnings	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.91	USD	2 Qtrs
Basic - Net earnings	`EarningsPerShareBasic`	$0.50	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.24	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.24	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.90	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.49	USD	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$6.40M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$5.97M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$13.23M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$24.04M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.33M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.16M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$2.49M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.90M	USD	2 Qtrs
Changes in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-1.41M	USD	2 Qtrs
Changes in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$15.16M	USD	2 Qtrs
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.32M	USD	2 Qtrs
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$940.00K	USD	2 Qtrs
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-202.00K	USD	2 Qtrs
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-2.27M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$4.01M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$968.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$627.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-629.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.97M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.84M	USD	2 Qtrs
Acquisition of business, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$3.73M	USD	2 Qtrs
Additions to capitalized software	`PaymentsToAcquireSoftware`	$4.09M	USD	2 Qtrs
Additions to capitalized software	`PaymentsToAcquireSoftware`	$7.87M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$5.64M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$7.07M	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.17M	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.23M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$22.51M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$8.00M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$18.10M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$33.00M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$4.25M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$2.12M	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$949.00K	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$1.07M	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.15M	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.79M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.15M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.23M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.10M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.70M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.51M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.93M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$44.63M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.60M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.51M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.93M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$44.63M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.60M	USD	Point-in-time

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