10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-043550`
Period End Date	20110630
Filing Date	20110804
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	tis-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 65 Cash Flow Statement 59

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$175.00K	USD	Point-in-time
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$175.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$686.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$1.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.49M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$380.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.49M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.49M	shares	Point-in-time
Accounts receivable, net of allowance of $175 in 2011 and 2010	`AccountsReceivableNetCurrent`	$6.16M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.49M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.49M	shares	Point-in-time
Accounts receivable, net of allowance of $175 in 2011 and 2010	`AccountsReceivableNetCurrent`	$7.21M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.59M	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.46M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.95M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$9.52M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$2.02M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$346.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$538.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$790.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.69M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$116.24M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$114.32M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$24.01M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$20.52M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$93.81M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$92.23M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $1 in 2011 and $686 in 2010	`DeferredFinanceCostsNoncurrentNet`	$76.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $1 in 2011 and $686 in 2010	`DeferredFinanceCostsNoncurrentNet`	$54.00K	USD	Point-in-time
Total assets	`Assets`	$122.57M	USD	Point-in-time
Total assets	`Assets`	$113.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.25M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.59M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$1.15M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$10.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.10M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$16.61M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$16.73M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.89M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.10M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,490,475 and 7,486,725 shares issued and outstanding in 2011 and 2010, respectively	`CommonStockValue`	$7.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,490,475 and 7,486,725 shares issued and outstanding in 2011 and 2010, respectively	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$38.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$30.99M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$30.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$70.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$69.60M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$122.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$113.88M	USD	Point-in-time

Income Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$45.73M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$46.06M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$23.38M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$24.68M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$19.67M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$19.61M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$36.79M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$39.63M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.08M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.94M	USD	2 Qtrs
Gross profit	`GrossProfit`	$6.42M	USD	2 Qtrs
Gross profit	`GrossProfit`	$3.72M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.82M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.58M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.84M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.40M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$5.36M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.90M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.23M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.03M	USD	2 Qtrs
Interest expense	`InterestExpense`	$440.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$191.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$426.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$211.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$16.00K	USD	2 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$13.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$27.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.96M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.60M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.72M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.04M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$-38.00K	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$1.01M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$1.53M	USD	2 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$788.00K	USD	2 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$558.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-103.00K	USD	2 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-148.00K	USD	1 Quarter
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$864.00K	USD	1 Quarter
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$788.00K	USD	2 Qtrs
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$520.00K	USD	1 Quarter
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$1.43M	USD	2 Qtrs
Net income	`ProfitLoss`	$2.17M	USD	1 Quarter
Net income	`ProfitLoss`	$1.82M	USD	2 Qtrs
Net income	`ProfitLoss`	$3.53M	USD	2 Qtrs
Net income	`ProfitLoss`	$1.20M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.29	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.47	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.24	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.46	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.44M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.71M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.71M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.77M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.75M	shares	2 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	2 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$2.17M	USD	1 Quarter
Net income	`ProfitLoss`	$1.82M	USD	2 Qtrs
Net income	`ProfitLoss`	$3.53M	USD	2 Qtrs
Net income	`ProfitLoss`	$1.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.24M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.57M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$30.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$788.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$558.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-103.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-148.00K	USD	1 Quarter
Stock option plan expense	`StockOptionPlanExpense`	$230.00K	USD	2 Qtrs
Stock option plan expense	`StockOptionPlanExpense`	$383.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.06M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$446.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$860.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$15.00K	USD	2 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.67M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$279.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-192.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.79M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-891.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-27.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$322.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.11M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.79M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.92M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.70M	USD	2 Qtrs
Proceeds from the sale of investment securities	`ProceedsFromSaleOfShortTermInvestments`	$7.50M	USD	2 Qtrs
Proceeds from the sale of investment securities	`ProceedsFromSaleOfShortTermInvestments`	$9.00M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.58M	USD	2 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.70M	USD	2 Qtrs
Borrowings under long-term debt	`ProceedsFromIssuanceOfSecuredDebt`	$18.00M	USD	2 Qtrs
Borrowings under long-term debt	`ProceedsFromIssuanceOfSecuredDebt`	$3.63M	USD	2 Qtrs
Principal payments on long-term debt	`DebtInstrumentPeriodicPaymentPrincipal`	$-1.49M	USD	2 Qtrs
Principal payments on long-term debt	`DebtInstrumentPeriodicPaymentPrincipal`	$-1.86M	USD	2 Qtrs
Repayment of long-term debt at maturity	`RepaymentsOfSecuredDebt`	$5.88M	USD	2 Qtrs
Repayment of long-term debt prior to maturity	`RepaymentsOfLongTermDebt`	$17.44M	USD	2 Qtrs
Net borrowings (repayments) on revolving credit line	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$2.67M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$1.50M	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$19.00K	USD	2 Qtrs
Deferred issuance cost	`PaymentsOfDebtIssuanceCosts`	$25.00K	USD	2 Qtrs
Deferred issuance cost	`PaymentsOfDebtIssuanceCosts`	$55.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.01M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.74M	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-852.00K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.35M	USD	2 Qtrs
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$380.00K	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.49M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$380.00K	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$1.49M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$426.00K	USD	2 Qtrs
Interest paid	`InterestPaidNet`	$400.00K	USD	2 Qtrs
Income taxes paid (refunded)	`IncomeTaxesPaidNet`	$-2.67M	USD	2 Qtrs
Income taxes paid (refunded)	`IncomeTaxesPaidNet`	$1.23M	USD	2 Qtrs

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