10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-033159`
Period End Date	20140331
Filing Date	20140501
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	tis-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 34 Cash Flow Statement 56

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$136.00K	USD	Point-in-time
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$135.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$18.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$19.00K	USD	Point-in-time
Cash	`Cash`	$5.53M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$7.21M	USD	Point-in-time
Cash	`Cash`	$5.73M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`Cash`	$7.22M	USD	Point-in-time
Accounts receivable, net of allowance of $136 in 2014 and $135 in 2013	`AccountsReceivableNetCurrent`	$6.58M	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 $136 in 2014 and $135 in 2013	`AccountsReceivableNetCurrent`	$5.62M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.07M	shares	Point-in-time
Inventories, net	`InventoryNet`	$10.92M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.07M	shares	Point-in-time
Inventories, net	`InventoryNet`	$12.84M	USD	Point-in-time
Short-term investments	`CashEquivalentsAtCarryingValue`	$5.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.07M	shares	Point-in-time
Short-term investments	`CashEquivalentsAtCarryingValue`	$5.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.07M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$863.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$751.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$146.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$552.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$544.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.01M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$137.75M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$139.45M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$42.01M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$44.15M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$95.75M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$95.31M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $19 in 2014 and $18 in 2013	`DeferredFinanceCostsNoncurrentNet`	$40.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $19 in 2014 and $18 in 2013	`DeferredFinanceCostsNoncurrentNet`	$39.00K	USD	Point-in-time
Total assets	`Assets`	$127.09M	USD	Point-in-time
Total assets	`Assets`	$127.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.63M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.03M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.81M	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`	$9.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.87M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$13.64M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$13.93M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.45M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,072,559 and 8,066,809 shares issued and outstanding in 2014 and 2013, respectively	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,072,559 and 8,066,809 shares issued and outstanding in 2014 and 2013, respectively	`CommonStockValue`	$8.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$46.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$46.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$38.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$38.36M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$84.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$84.93M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$127.36M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$127.09M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$26.61M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$27.76M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$20.08M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$21.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.53M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.27M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.18M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.84M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.25M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$93.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$5.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.83M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.17M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$1.42M	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-239.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$68.00K	USD	1 Quarter
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$1.07M	USD	1 Quarter
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$1.18M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.09M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.64M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.40	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.67M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.06M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.89M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.15M	shares	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.30	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.09M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.21M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-12.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-239.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$68.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$69.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$165.00K	USD	1 Quarter
Loss on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	$-8.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.02M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-964.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$597.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.92M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$222.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-107.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-112.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-146.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-335.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-59.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$776.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.18M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.22M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.81M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.73M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.78M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$2.00K	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$2.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.73M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.78M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$288.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$288.00K	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$2.83M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$2.34M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$79.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$799.00K	USD	1 Quarter
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$20.00K	USD	1 Quarter
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$135.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.01M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.69M	USD	1 Quarter
Net increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$-201.00K	USD	1 Quarter
Net increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$19.00K	USD	1 Quarter
Cash, beginning	`Cash`	$5.53M	USD	Point-in-time
Cash, beginning	`Cash`	$7.21M	USD	Point-in-time
Cash, beginning	`Cash`	$5.73M	USD	Point-in-time
Cash, beginning	`Cash`	$7.22M	USD	Point-in-time
Cash, ending	`Cash`	$5.53M	USD	Point-in-time
Cash, ending	`Cash`	$7.21M	USD	Point-in-time
Cash, ending	`Cash`	$5.73M	USD	Point-in-time
Cash, ending	`Cash`	$7.22M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$87.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$93.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	$300.00K	USD	1 Quarter
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$16.00K	USD	1 Quarter
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$40.00K	USD	1 Quarter

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