10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-032384`
Period End Date	20120331
Filing Date	20120503
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	tis-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 34 Cash Flow Statement 49

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$125.00K	USD	Point-in-time
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$145.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$4.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$6.00K	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`	7.53M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.53M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.00K	USD	Point-in-time
Accounts receivable, net of allowance of $125 in 2012 and $145 in 2011	`AccountsReceivableNetCurrent`	$7.74M	USD	Point-in-time
Accounts receivable, net of allowance of $125 in 2012 and $145 in 2011	`AccountsReceivableNetCurrent`	$6.94M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.53M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.53M	shares	Point-in-time
Inventories, net	`InventoryNet`	$7.81M	USD	Point-in-time
Inventories, net	`InventoryNet`	$8.54M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$285.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$285.00K	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.02M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$2.02M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$530.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$444.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$338.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$410.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$410.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$22.63M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$119.85M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$121.36M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$29.38M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$27.57M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$92.28M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$91.97M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $6 in 2012 and $4 in 2011	`DeferredFinanceCostsNoncurrentNet`	$54.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $6 in 2012 and $4 in 2011	`DeferredFinanceCostsNoncurrentNet`	$53.00K	USD	Point-in-time
Total assets	`Assets`	$117.20M	USD	Point-in-time
Total assets	`Assets`	$114.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.52M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.62M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.18M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$1.15M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.29M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$15.94M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$16.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.80M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,533,975 and 7,530,225 shares issued and outstanding in 2012 and 2011, respectively	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,533,975 and 7,530,225 shares issued and outstanding in 2012 and 2011, respectively	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$39.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$33.12M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$34.13M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$73.77M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$72.65M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$117.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$114.97M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$22.68M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$25.73M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$19.97M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$19.59M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.71M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.58M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.29M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.85M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.13M	USD	1 Quarter
Interest expense	`InterestExpense`	$249.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$107.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$888.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.75M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$38.00K	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$1.43M	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$230.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-202.00K	USD	1 Quarter
Total provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$268.00K	USD	1 Quarter
Total provision for (benefit from) income taxes	`IncomeTaxExpenseBenefit`	$1.22M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.52M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$620.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.53M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.71M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.86M	shares	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.52M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$620.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.82M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.75M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$230.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-202.00K	USD	1 Quarter
Stock option plan expense	`StockOptionPlanExpense`	$62.00K	USD	1 Quarter
Stock option plan expense	`StockOptionPlanExpense`	$76.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$602.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$785.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$258.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$727.00K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.36M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-17.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-86.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-338.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.06M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$40.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.24M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.57M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.36M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.71M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.50M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$717.00K	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$3.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.50M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-717.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$288.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$1.02M	USD	1 Quarter
Net repayments on revolving credit line	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$2.03M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$1.51M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$749.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$19.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$25.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.78M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.77M	USD	1 Quarter
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-1.56M	USD	1 Quarter
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-137.00K	USD	1 Quarter
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.00K	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$5.00K	USD	Point-in-time
Interest paid	`InterestPaidNet`	$257.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$105.00K	USD	1 Quarter

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