10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001104659-13-079539`
Period End Date	20130930
Filing Date	20131031
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	tis-20130930.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`	$120.00K	USD	Point-in-time
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$125.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$16.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$11.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.73M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$5.03M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance of $120 in 2013 and $125 in 2012	`AccountsReceivableNetCurrent`	$7.90M	USD	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 authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.64M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.03M	shares	Point-in-time
Inventories, net	`InventoryNet`	$11.80M	USD	Point-in-time
Inventories, net	`InventoryNet`	$10.28M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.06M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$607.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.03M	shares	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`	$1.13M	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`	$393.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$277.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.23M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$125.58M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$133.14M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$40.08M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.39M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$91.19M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$93.06M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $16 in 2013 and $11 in 2012	`DeferredFinanceCostsNoncurrentNet`	$47.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $16 in 2013 and $11 in 2012	`DeferredFinanceCostsNoncurrentNet`	$42.00K	USD	Point-in-time
Total assets	`Assets`	$125.34M	USD	Point-in-time
Total assets	`Assets`	$119.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.69M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.83M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.54M	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`	$8.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.67M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$14.21M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$15.08M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.59M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,026,309 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, 8,026,309 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`	$45.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$38.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$83.53M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$77.18M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$125.34M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$119.36M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$76.78M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$25.78M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$29.76M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$85.60M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$22.62M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$59.66M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$64.94M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$20.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$17.13M	USD	3 Qtrs
Gross profit	`GrossProfit`	$20.66M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.43M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.91M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.03M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.12M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.02M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$13.75M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$3.36M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.70M	USD	3 Qtrs
Interest expense	`InterestExpense`	$92.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$280.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$308.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$99.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-312.00K	USD	3 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$21.00K	USD	3 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$4.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.93M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.49M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.27M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.08M	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$847.00K	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$3.26M	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$2.89M	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$1.11M	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$109.00K	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$274.00K	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$94.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$102.00K	USD	1 Quarter
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$941.00K	USD	1 Quarter
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.21M	USD	1 Quarter
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.53M	USD	3 Qtrs
Total Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.96M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.08M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.33M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.94	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.27	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.90	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.25	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.55M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.81M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.57M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.96M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.07M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.86M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.91M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.85M	shares	3 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$1.00	USD	3 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.60	USD	3 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.96M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.08M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.33M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.61M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.70M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-5.00K	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`	$274.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$94.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$102.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$380.00K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$318.00K	USD	3 Qtrs
Loss on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	$-336.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.49M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.49M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.29M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.53M	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$456.00K	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-285.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$469.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$492.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-44.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-292.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$483.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-373.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$708.00K	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`	$11.72M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.56M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.31M	USD	3 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$6.00K	USD	3 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$3.00M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.32M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.57M	USD	3 Qtrs
Principal payments on long-term debt	`DebtInstrumentPeriodicPaymentPrincipal`	$-864.00K	USD	3 Qtrs
Principal payments on long-term debt	`DebtInstrumentPeriodicPaymentPrincipal`	$-864.00K	USD	3 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$4.53M	USD	3 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$7.89M	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$384.00K	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.94M	USD	3 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$24.00K	USD	3 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$963.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.99M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.85M	USD	3 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-704.00K	USD	3 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-542.00K	USD	3 Qtrs
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.73M	USD	Point-in-time
Cash, beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.03M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$4.30M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$3.75M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$5.73M	USD	Point-in-time
Cash, ending	`CashAndCashEquivalentsAtCarryingValue`	$5.03M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$307.00K	USD	3 Qtrs
Interest paid	`InterestPaidNet`	$279.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$2.75M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$2.44M	USD	3 Qtrs
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$329.00K	USD	3 Qtrs
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$29.00K	USD	3 Qtrs

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