10-Q Filing

ESCO TECHNOLOGIES INC CIK: 866706 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0000866706-13-000025`
Period End Date	20130331
Filing Date	20130508
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	ese-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 48 Cash Flow Statement 54 Comprehensive Income 18

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$30.53M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$15.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.21M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$39.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.07M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$31.53M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$141.15M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$151.05M	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 $15,214 and $30,534, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$15.52M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, less progress billings of $15,214 and $30,534, respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$14.57M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$108.06M	USD	Point-in-time
Inventories	`InventoryNet`	$117.50M	USD	Point-in-time
Current portion of deferred tax assets	`DeferredTaxAssetsNetCurrent`	$22.71M	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
Current portion of deferred tax assets	`DeferredTaxAssetsNetCurrent`	$22.31M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$17.24M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.15M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$38.70M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.04M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.45M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$371.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$343.44M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	3.71M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$80.70M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$75.88M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$244.39M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$231.47M	USD	Point-in-time
Goodwill	`Goodwill`	$387.63M	USD	Point-in-time
Goodwill	`Goodwill`	$361.28M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$21.68M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$21.33M	USD	Point-in-time
Total assets	`Assets`	$1.03B	USD	Point-in-time
Total assets	`Assets`	$1.11B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$50.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$51.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$50.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$54.05M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $39,186 and $31,534, respectively	`BillingsInExcessOfCost`	$21.70M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $39,186 and $31,534, respectively	`BillingsInExcessOfCost`	$15.97M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$21.11M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$25.72M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$40.15M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$24.92M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$27.82M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$30.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$204.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$209.34M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$33.98M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$35.48M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$88.67M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$92.79M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$22.04M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$9.08M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$65.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$126.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$402.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$484.15M	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 30,147,204 and 30,044,486 shares, respectively	`CommonStockValue`	$300.00K	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,147,204 and 30,044,486 shares, respectively	`CommonStockValue`	$302.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$282.33M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$279.39M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$441.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$439.15M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-25.38M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-26.30M	USD	Point-in-time
Total shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$695.88M	USD	Point-in-time
Total shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$695.48M	USD	Point-in-time
Less treasury stock, at cost: 3,714,607 and 3,453,249 common shares, respectively	`TreasuryStockValue`	$74.12M	USD	Point-in-time
Less treasury stock, at cost: 3,714,607 and 3,453,249 common shares, respectively	`TreasuryStockValue`	$64.57M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$621.36M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$631.31M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.11B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.03B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$166.18M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$173.86M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$311.44M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$326.79M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$204.72M	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$105.97M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$110.68M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$198.69M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$45.75M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$47.94M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$96.63M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$92.69M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$6.41M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$7.70M	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.20M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.25M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-668.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-961.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-470.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.23M	USD	2 Qtrs
Other expenses (income), net	`OtherNonoperatingIncomeExpense`	$-1.33M	USD	1 Quarter
Other expenses (income), net	`OtherNonoperatingIncomeExpense`	$376.00K	USD	1 Quarter
Other expenses (income), net	`OtherNonoperatingIncomeExpense`	$-1.26M	USD	2 Qtrs
Other expenses (income), net	`OtherNonoperatingIncomeExpense`	$848.00K	USD	2 Qtrs
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`	$307.60M	USD	2 Qtrs
Total costs and expenses	`TotalCostsAndExpenses`	$162.63M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$16.60M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$24.95M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.54M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.84M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$9.54M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.99M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.40M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.04M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$10.20M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.41M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$1.56M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.80M	USD	2 Qtrs
Basic - Net earnings	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.07	USD	2 Qtrs
Basic - Net earnings	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic - Net earnings	`EarningsPerShareBasic`	$0.58	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.07	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.57	USD	2 Qtrs
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Diluted - Net earnings	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$10.20M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.41M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$1.56M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.80M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.80M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.33M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$2.43M	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$2.26M	USD	2 Qtrs
Changes in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-16.34M	USD	2 Qtrs
Changes in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-27.47M	USD	2 Qtrs
Inventory write down	`InventoryWriteDown`	$5.04M	USD	2 Qtrs
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-140.00K	USD	2 Qtrs
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.72M	USD	2 Qtrs
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-3.81M	USD	2 Qtrs
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$1.58M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$-1.34M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$-1.75M	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$9.00K	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-676.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.06M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.87M	USD	2 Qtrs
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$28.25M	USD	2 Qtrs
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.34M	USD	2 Qtrs
Additions to capitalized software	`PaymentsToAcquireSoftware`	$7.67M	USD	2 Qtrs
Additions to capitalized software	`PaymentsToAcquireSoftware`	$6.75M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.15M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$10.12M	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-46.03M	USD	2 Qtrs
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.25M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$77.70M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$39.37M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$38.00M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$15.00M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$4.24M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$4.27M	USD	2 Qtrs
Purchases of common stock into treasury	`TreasuryStockValueAcquiredCostMethod`	$-9.70M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$-326.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.74M	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-49.00K	USD	2 Qtrs
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$68.00K	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$50.44M	USD	2 Qtrs
Net cash provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.16M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-811.00K	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-543.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.67M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.09M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.88M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.21M	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`	$35.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.21M	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

Comprehensive Income 18 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$10.20M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$15.41M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$1.56M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.80M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-811.00K	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.01M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-543.00K	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.79M	USD	1 Quarter
Pension adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$109.00K	USD	2 Qtrs
Interest rate swap adjustment	`OtherComprehensiveIncomeLossReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax`	$2.00K	USD	2 Qtrs
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.01M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.79M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-541.00K	USD	2 Qtrs
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-920.00K	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$885.00K	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$14.87M	USD	2 Qtrs
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-227.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$11.21M	USD	1 Quarter

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