10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-072979`
Period End Date	20120930
Filing Date	20121101
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	tis-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 68 Cash Flow Statement 66

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`	$9.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$4.00K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.57M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.49M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.57M	shares	Point-in-time
Accounts receivable, net of allowance of $125 in 2012 and $145 in 2011	`AccountsReceivableNetCurrent`	$6.94M	USD	Point-in-time
Accounts receivable, net of allowance of $125 in 2012 and $145 in 2011	`AccountsReceivableNetCurrent`	$8.45M	USD	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`	$9.10M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$285.00K	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$2.02M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.02M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$999.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$530.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$338.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$46.00K	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`	$27.78M	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`	$123.11M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$32.46M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$27.57M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$90.66M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$92.28M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $9 in 2012 and $4 in 2011	`DeferredFinanceCostsNoncurrentNet`	$49.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $9 in 2012 and $4 in 2011	`DeferredFinanceCostsNoncurrentNet`	$54.00K	USD	Point-in-time
Total assets	`Assets`	$114.97M	USD	Point-in-time
Total assets	`Assets`	$118.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.13M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.62M	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`	$7.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.28M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$15.37M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$16.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.80M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.91M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,572,975 and 7,530,225 shares issued and outstanding in 2012 and 2011, respectively	`CommonStockValue`	$7.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,572,975 and 7,530,225 shares issued and outstanding in 2012 and 2011, respectively	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$40.25M	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`	$35.67M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$72.65M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$75.93M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$114.97M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$118.48M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$72.17M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$25.78M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$26.11M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$76.78M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$20.39M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$22.17M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$59.66M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$61.81M	USD	3 Qtrs
Gross profit	`GrossProfit`	$10.36M	USD	3 Qtrs
Gross profit	`GrossProfit`	$17.13M	USD	3 Qtrs
Gross profit	`GrossProfit`	$3.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.39M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.90M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.51M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.03M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.43M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$5.46M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$10.70M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$3.36M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.43M	USD	1 Quarter
Interest expense	`InterestExpense`	$308.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$543.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$99.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$103.00K	USD	1 Quarter
Other (income) expense	`OtherNonoperatingIncomeExpense`	$-312.00K	USD	3 Qtrs
Other (income) expense	`OtherNonoperatingIncomeExpense`	$17.00K	USD	1 Quarter
Other (income) expense	`OtherNonoperatingIncomeExpense`	$33.00K	USD	3 Qtrs
Other (income) expense	`OtherNonoperatingIncomeExpense`	$4.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.95M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.08M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.27M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.34M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$504.00K	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$847.00K	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$2.89M	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$504.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$109.00K	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$94.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$979.00K	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$191.00K	USD	1 Quarter
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00M	USD	3 Qtrs
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$941.00K	USD	1 Quarter
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.48M	USD	3 Qtrs
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$695.00K	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.65M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.08M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.33M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.46M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.94	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.46	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.45	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.90	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.57M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.49M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.55M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.73M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.85M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.86M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.72M	shares	3 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.30	USD	3 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.60	USD	3 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.65M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.08M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.33M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.46M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.33M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.61M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$109.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$94.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$979.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$191.00K	USD	1 Quarter
Stock option plan expense	`StockOptionPlanExpense`	$268.00K	USD	3 Qtrs
Stock option plan expense	`StockOptionPlanExpense`	$318.00K	USD	3 Qtrs
Loss on disposal of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-336.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.49M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.79M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$126.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.29M	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-285.00K	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-2.67M	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$156.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$469.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-292.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.01M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$483.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$994.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$511.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$11.77M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$10.62M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.31M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.89M	USD	3 Qtrs
Purchases of investment securities	`PaymentsToAcquireShortTermInvestments`	$3.00M	USD	3 Qtrs
Proceeds from the sale of investment securities	`ProceedsFromSaleOfShortTermInvestments`	$7.50M	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`	$-7.32M	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`	$-864.00K	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
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$4.53M	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
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$384.00K	USD	3 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$24.00K	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
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-11.89M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.99M	USD	3 Qtrs
Net increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$-542.00K	USD	3 Qtrs
Net increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$2.35M	USD	3 Qtrs
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.49M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$142.00K	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$2.49M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$307.00K	USD	3 Qtrs
Interest paid	`InterestPaidNet`	$504.00K	USD	3 Qtrs
Income taxes paid (refunded)	`IncomeTaxesPaidNet`	$2.44M	USD	3 Qtrs
Income taxes paid (refunded)	`IncomeTaxesPaidNet`	$-2.67M	USD	3 Qtrs
Tax benefits realized from stock options exercised	`TaxBenefitFromStockOptionsExercised1`	$29.00K	USD	3 Qtrs
Tax benefits realized from stock options exercised	`TaxBenefitFromStockOptionsExercised1`	$14.00K	USD	3 Qtrs

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