10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001104659-13-058279`
Period End Date	20130630
Filing Date	20130731
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	tis-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 68 Cash Flow Statement 63

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`	$120.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$11.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$14.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.73M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.56M	USD	Point-in-time
Accounts receivable, net of allowance of $120 in 2013 and $125 in 2012	`AccountsReceivableNetCurrent`	$8.92M	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
Accounts receivable, net of allowance of $120 in 2013 and $125 in 2012	`AccountsReceivableNetCurrent`	$5.41M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.64M	shares	Point-in-time
Inventories, net	`InventoryNet`	$10.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.88M	shares	Point-in-time
Inventories, net	`InventoryNet`	$11.29M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.88M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$805.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$607.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.64M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.03M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.03M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.03M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$637.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$44.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$319.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$393.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.96M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$131.13M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$125.58M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.39M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$38.17M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$92.97M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$91.19M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $14 in 2013 and $11 in 2012	`DeferredFinanceCostsNoncurrentNet`	$44.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $14 in 2013 and $11 in 2012	`DeferredFinanceCostsNoncurrentNet`	$47.00K	USD	Point-in-time
Total assets	`Assets`	$122.97M	USD	Point-in-time
Total assets	`Assets`	$119.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.69M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.26M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.83M	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`	$8.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.67M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$15.08M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$14.50M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.53M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,881,475 and 7,642,475 shares issued and outstanding in 2013 and 2012, respectively	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 7,881,475 and 7,642,475 shares issued and outstanding in 2013 and 2012, respectively	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$41.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$43.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$37.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.93M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$77.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$80.79M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$119.36M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$122.97M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$51.01M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$29.23M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$55.84M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$25.28M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$22.24M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$42.32M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$19.68M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$39.27M	USD	2 Qtrs
Gross profit	`GrossProfit`	$13.52M	USD	2 Qtrs
Gross profit	`GrossProfit`	$7.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.74M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.60M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.52M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.79M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.40M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.11M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.34M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$3.49M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.48M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.73M	USD	2 Qtrs
Interest expense	`InterestExpense`	$102.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$95.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$209.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$188.00K	USD	2 Qtrs
Other (income) expense	`OtherNonoperatingIncomeExpense`	$-323.00K	USD	1 Quarter
Other (income) expense	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Other (income) expense	`OtherNonoperatingIncomeExpense`	$12.00K	USD	2 Qtrs
Other (income) expense	`OtherNonoperatingIncomeExpense`	$-316.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.56M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.07M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.81M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.39M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$2.04M	USD	2 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$1.14M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$613.00K	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$2.15M	USD	2 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$15.00K	USD	2 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$217.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$104.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$172.00K	USD	2 Qtrs
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.32M	USD	2 Qtrs
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.05M	USD	2 Qtrs
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$830.00K	USD	1 Quarter
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.25M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.24M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.76M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.24M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.80	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.40	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.63	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.78	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.61	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.74M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.54M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.55M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.80M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.84M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.84M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.91M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.98M	shares	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.65	USD	2 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.40	USD	2 Qtrs

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.24M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.76M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.24M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.78M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.65M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-5.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$15.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$217.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$104.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$172.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$333.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$291.00K	USD	2 Qtrs
Loss on disposal of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-336.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.50M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$718.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.02M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.49M	USD	2 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-285.00K	USD	2 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$198.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$393.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-31.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-338.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-44.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$49.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$424.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$455.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.92M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.92M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.55M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.15M	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$3.00M	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$4.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.15M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.56M	USD	2 Qtrs
Principal payments on long-term debt	`DebtInstrumentPeriodicPaymentPrincipal`	$-576.00K	USD	2 Qtrs
Principal payments on long-term debt	`DebtInstrumentPeriodicPaymentPrincipal`	$-576.00K	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$3.02M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$5.08M	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.65M	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$289.00K	USD	2 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$5.00K	USD	2 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$479.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.30M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.53M	USD	2 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-1.53M	USD	2 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-3.17M	USD	2 Qtrs
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.73M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.56M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$2.77M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$5.73M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$2.56M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$187.00K	USD	2 Qtrs
Interest paid	`InterestPaidNet`	$208.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$1.87M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$1.66M	USD	2 Qtrs
Tax benefits realized from stock options exercised	`TaxBenefitFromStockOptionsExercised1`	$11.00K	USD	2 Qtrs
Tax benefits realized from stock options exercised	`TaxBenefitFromStockOptionsExercised1`	$183.00K	USD	2 Qtrs

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