10-Q Filing

ESCO TECHNOLOGIES INC CIK: 866706 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0000866706-12-000011`
Period End Date	20120331
Filing Date	20120510
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	esco-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 48 Cash Flow Statement 50

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$11.42M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$20.99M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$29.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.51M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.16M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$30.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.07M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$136.43M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$144.08M	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 $20,994 and $11,416, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$12.97M	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 $20,994 and $11,416, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$9.64M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$111.53M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$96.99M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Current portion of deferred tax assets	`DeferredTaxAssetsNetCurrent`	$20.56M	USD	Point-in-time
Current portion of deferred tax assets	`DeferredTaxAssetsNetCurrent`	$20.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.96M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.46M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.04M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$19.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$328.35M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.31M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.32M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$327.69M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$73.07M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$73.27M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$231.85M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$231.87M	USD	Point-in-time
Goodwill	`Goodwill`	$361.86M	USD	Point-in-time
Goodwill	`Goodwill`	$361.79M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$16.70M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.75M	USD	Point-in-time
Total assets	`Assets`	$1.01B	USD	Point-in-time
Total assets	`Assets`	$1.01B	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`	$126.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$54.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$51.66M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $29,476 and $30,925, respectively	`BillingsInExcessOfCost`	$20.95M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $29,476 and $30,925, respectively	`BillingsInExcessOfCost`	$23.67M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$26.04M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$21.06M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$24.50M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$23.21M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$27.09M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$27.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$205.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$270.33M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$32.48M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$33.44M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$85.31M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$85.39M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$11.68M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$11.54M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$75.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$411.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$399.87M	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 30,037,750 and 29,956,904 shares, respectively	`CommonStockValue`	$300.00K	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,037,750 and 29,956,904 shares, respectively	`CommonStockValue`	$300.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$275.81M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$276.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$403.24M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$414.38M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.19M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.73M	USD	Point-in-time
Total shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$660.16M	USD	Point-in-time
Total shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$671.80M	USD	Point-in-time
Less treasury stock, at cost: 3,312,426 and 3,320,926 common shares, respectively	`TreasuryStockValue`	$59.31M	USD	Point-in-time
Less treasury stock, at cost: 3,312,426 and 3,320,926 common shares, respectively	`TreasuryStockValue`	$59.45M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$600.71M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$612.49M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.01B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.01B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$326.79M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$166.75M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$173.86M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$326.68M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$198.69M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$98.59M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$196.08M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$105.97M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$47.94M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$43.41M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$96.63M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$87.05M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$5.89M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.25M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.04M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.41M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-470.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-538.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-961.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-1.31M	USD	2 Qtrs
Other (income) expenses, net	`OtherNonoperatingIncomeExpense`	$848.00K	USD	2 Qtrs
Other (income) expenses, net	`OtherNonoperatingIncomeExpense`	$-125.00K	USD	1 Quarter
Other (income) expenses, net	`OtherNonoperatingIncomeExpense`	$493.00K	USD	2 Qtrs
Other (income) expenses, net	`OtherNonoperatingIncomeExpense`	$376.00K	USD	1 Quarter
Total costs and expenses	`TotalCostsAndExpenses`	$301.84M	USD	2 Qtrs
Total costs and expenses	`TotalCostsAndExpenses`	$157.26M	USD	1 Quarter
Total costs and expenses	`TotalCostsAndExpenses`	$289.84M	USD	2 Qtrs
Total costs and expenses	`TotalCostsAndExpenses`	$145.70M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$21.05M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$24.95M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.60M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$36.85M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$9.54M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$12.81M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$7.82M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.40M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.41M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$13.23M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$24.04M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$10.20M	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.91	USD	2 Qtrs
Basic - Net earnings	`EarningsPerShareBasic`	$0.58	USD	2 Qtrs
Basic - Net earnings	`EarningsPerShareBasic`	$0.50	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.57	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.90	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.49	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$15.41M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$13.23M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$24.04M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$10.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.33M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.33M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$2.49M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$2.26M	USD	2 Qtrs
Changes in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-1.41M	USD	2 Qtrs
Changes in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$16.34M	USD	2 Qtrs
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$940.00K	USD	2 Qtrs
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-140.00K	USD	2 Qtrs
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-2.27M	USD	2 Qtrs
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$1.58M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$-4.01M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$-1.34M	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$629.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$9.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.87M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.97M	USD	2 Qtrs
Acquisition of business/minority interest, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.34M	USD	2 Qtrs
Acquisition of business/minority interest, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$3.73M	USD	2 Qtrs
Additions to capitalized software	`PaymentsToAcquireSoftware`	$7.87M	USD	2 Qtrs
Additions to capitalized software	`PaymentsToAcquireSoftware`	$6.75M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$5.64M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.15M	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.25M	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.23M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$39.37M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$22.51M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$38.00M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$33.00M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$4.27M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$4.25M	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$949.00K	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-258.00K	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.79M	USD	2 Qtrs
Net cash used by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.16M	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`	$-543.00K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.09M	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.10M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.60M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$26.51M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.16M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.07M	USD	Point-in-time
Cash and cash equivalents, end 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`	$34.16M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$27.07M	USD	Point-in-time

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