10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001104659-11-060447`
Period End Date	20110930
Filing Date	20111103
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	tis-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 66 Cash Flow Statement 61

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`	$3.00K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.50M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.49M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	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`	$6.16M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.50M	shares	Point-in-time
Accounts receivable, net of allowance of $175 in 2011 and 2010	`AccountsReceivableNetCurrent`	$7.95M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.72M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.59M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.95M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$2.02M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$9.52M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$538.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$694.00K	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`	$28.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.94M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$118.21M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$114.32M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$25.77M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$20.52M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$92.44M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$93.81M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $3 in 2011 and $686 in 2010	`DeferredFinanceCostsNoncurrentNet`	$56.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $3 in 2011 and $686 in 2010	`DeferredFinanceCostsNoncurrentNet`	$76.00K	USD	Point-in-time
Total assets	`Assets`	$122.57M	USD	Point-in-time
Total assets	`Assets`	$115.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.25M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.26M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$10.74M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.26M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$16.52M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$16.61M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.08M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.10M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,500,475 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, 7,500,475 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`	$39.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$30.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$31.89M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$69.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$71.18M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$122.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$115.43M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$72.17M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$70.25M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$24.52M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$26.11M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$61.81M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$57.28M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$22.17M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$20.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.36M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.96M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.51M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.90M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.22M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.65M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.74M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$2.43M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.46M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$2.38M	USD	1 Quarter
Interest expense	`InterestExpense`	$675.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$543.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$249.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$103.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$51.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$24.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$33.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$17.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.34M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.12M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.15M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.95M	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$-1.35M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$504.00K	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$504.00K	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$182.00K	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$979.00K	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$191.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$1.96M	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$2.06M	USD	1 Quarter
Total Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$695.00K	USD	1 Quarter
Total Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$1.48M	USD	3 Qtrs
Total Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$713.00K	USD	1 Quarter
Total Provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$2.14M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.46M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.44M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.65M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.97M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.46	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.67	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.64	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.45	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.46M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.76M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.73M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.76M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.72M	shares	3 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.30	USD	3 Qtrs

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.46M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.44M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.65M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.97M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.01M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.33M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$45.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefitCashFlowImpact`	$979.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefitCashFlowImpact`	$1.96M	USD	3 Qtrs
Stock option plan expense	`StockOptionPlanExpense`	$473.00K	USD	3 Qtrs
Stock option plan expense	`StockOptionPlanExpense`	$268.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.79M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$763.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-82.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$126.00K	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.67M	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$2.65M	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$156.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$206.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.64M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.01M	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$959.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$994.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$10.62M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$10.52M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.89M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$23.38M	USD	3 Qtrs
Proceeds from the sale of investment securities	`ProceedsFromSaleOfShortTermInvestments`	$7.50M	USD	3 Qtrs
Proceeds from the sale of investment securities	`ProceedsFromSaleOfShortTermInvestments`	$8.99M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$3.61M	USD	3 Qtrs
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-14.39M	USD	3 Qtrs
Borrowings under long-term debt	`ProceedsFromIssuanceOfSecuredDebt`	$5.20M	USD	3 Qtrs
Borrowings under long-term debt	`ProceedsFromIssuanceOfSecuredDebt`	$18.02M	USD	3 Qtrs
Principal payments on long-term debt	`DebtInstrumentPeriodicPaymentPrincipal`	$-1.72M	USD	3 Qtrs
Principal payments on long-term debt	`DebtInstrumentPeriodicPaymentPrincipal`	$-2.82M	USD	3 Qtrs
Repayment of long-term debt at maturity	`RepaymentsOfSecuredDebt`	$5.88M	USD	3 Qtrs
Repayment of long-term debt prior to maturity	`RepaymentsOfLongTermDebt`	$17.44M	USD	3 Qtrs
Net borrowings (repayments) on revolving credit line	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$2.67M	USD	3 Qtrs
Net borrowings (repayments) on revolving credit line	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-292.00K	USD	3 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$2.25M	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$98.00K	USD	3 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$5.00K	USD	3 Qtrs
Deferred issuance cost	`PaymentsOfDebtIssuanceCosts`	$59.00K	USD	3 Qtrs
Deferred issuance cost	`PaymentsOfDebtIssuanceCosts`	$25.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-11.89M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.64M	USD	3 Qtrs
Net increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$2.35M	USD	3 Qtrs
Net increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$-1.23M	USD	3 Qtrs
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.49M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$6.00K	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$1.23M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$2.49M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$6.00K	USD	Point-in-time
Interest paid	`InterestPaidNet`	$675.00K	USD	3 Qtrs
Interest paid	`InterestPaidNet`	$504.00K	USD	3 Qtrs
Income taxes paid (refunded)	`IncomeTaxesPaidNet`	$-2.67M	USD	3 Qtrs
Income taxes paid (refunded)	`IncomeTaxesPaidNet`	$2.67M	USD	3 Qtrs
Tax benefits realized from stock options exercised	`TaxBenefitFromStockOptionsExercised`	$14.00K	USD	3 Qtrs

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