10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001104659-14-056826`
Period End Date	20140630
Filing Date	20140805
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	tis-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 70 Cash Flow Statement 69

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$135.00K	USD	Point-in-time
Accounts receivable, allowance (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$136.00K	USD	Point-in-time
Intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$108.00K	USD	Point-in-time
Cash	`Cash`	$2.56M	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$1.00K	USD	Point-in-time
Deferred debt issuance costs, accumulated amortization (in dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$18.00K	USD	Point-in-time
Cash	`Cash`	$5.73M	USD	Point-in-time
Cash	`Cash`	$7.21M	USD	Point-in-time
Cash	`Cash`	$6.14M	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 $136 in 2014 and $135 in 2013	`AccountsReceivableNetCurrent`	$8.48M	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, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$10.92M	USD	Point-in-time
Inventories, net	`InventoryNet`	$14.05M	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
Short-term investments	`CashEquivalentsAtCarryingValue`	$5.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.07M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.76M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.21M	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`	$690.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$146.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.12M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$544.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$552.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$33.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.31M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$150.51M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$137.75M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$42.01M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$46.38M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$95.75M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$104.13M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $108 in 2014	`FiniteLivedIntangibleAssetsNet`	$17.88M	USD	Point-in-time
Goodwill	`Goodwill`	$7.56M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $1 in 2014 and $18 in 2013	`DeferredFinanceCostsNoncurrentNet`	$76.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $1 in 2014 and $18 in 2013	`DeferredFinanceCostsNoncurrentNet`	$40.00K	USD	Point-in-time
Total assets	`Assets`	$162.89M	USD	Point-in-time
Total assets	`Assets`	$127.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.69M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.44M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.03M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$2.70M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.91M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$31.20M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$13.93M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.13M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.45M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,758,642 and 8,066,809 shares issued and outstanding in 2014 and 2013, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,758,642 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`	$46.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$63.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$36.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$38.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$99.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$84.85M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$127.09M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$162.89M	USD	Point-in-time

Income Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$29.20M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$56.95M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$55.84M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$29.23M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$45.45M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$23.71M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$22.24M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$42.32M	USD	2 Qtrs
Gross profit	`GrossProfit`	$13.52M	USD	2 Qtrs
Gross profit	`GrossProfit`	$7.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.51M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.49M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.59M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.79M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.41M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.52M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$108.00K	USD	2 Qtrs
Intangibles amortization	`AmortizationOfIntangibleAssets`	$108.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.73M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$4.81M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$975.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.48M	USD	1 Quarter
Interest expense	`InterestExpense`	$125.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$95.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$188.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$112.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$6.00K	USD	2 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$12.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.56M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.39M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$870.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.70M	USD	2 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$1.14M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$1.82M	USD	2 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$2.15M	USD	2 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$396.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-72.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$172.00K	USD	2 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-311.00K	USD	2 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$104.00K	USD	1 Quarter
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$324.00K	USD	1 Quarter
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$2.32M	USD	2 Qtrs
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$1.25M	USD	1 Quarter
Total provision for income taxes	`IncomeTaxExpenseBenefit`	$1.51M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.19M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.24M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$546.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.40	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	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
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.78	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.39	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.39	USD	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.17M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.27M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.74M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.80M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.91M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.35M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.98M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.26M	shares	2 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.70	USD	2 Qtrs
Dividends per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	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

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.19M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.24M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$546.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.59M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.78M	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-5.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-72.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$172.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-311.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$104.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$333.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.17M	USD	2 Qtrs
Loss on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	$-8.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.50M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.90M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.02M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$3.13M	USD	2 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$198.00K	USD	2 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.21M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$393.00K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-173.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-44.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$1.97M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$49.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$3.08M	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-592.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$424.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.92M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.09M	USD	2 Qtrs
Acquisition of Fabrica assets and U.S. business	`PaymentsToAcquireBusinessesGross`	$16.70M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.69M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.55M	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$2.00K	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$4.00K	USD	2 Qtrs
Proceeds from the sale of investment securities	`ProceedsFromSaleOfShortTermInvestments`	$5.04M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.56M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.35M	USD	2 Qtrs
Borrowings under long-term debt	`ProceedsFromIssuanceOfSecuredDebt`	$30.00M	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$576.00K	USD	2 Qtrs
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$15.08M	USD	2 Qtrs
Net borrowings (repayments) on revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$3.90M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$5.65M	USD	2 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$5.08M	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$79.00K	USD	2 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.65M	USD	2 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$20.00K	USD	2 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$479.00K	USD	2 Qtrs
Deferred issuance cost	`PaymentsOfDebtIssuanceCosts`	$77.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$13.19M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.53M	USD	2 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-3.17M	USD	2 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-1.07M	USD	2 Qtrs
Cash, beginning	`Cash`	$2.56M	USD	Point-in-time
Cash, beginning	`Cash`	$5.73M	USD	Point-in-time
Cash, beginning	`Cash`	$7.21M	USD	Point-in-time
Cash, beginning	`Cash`	$6.14M	USD	Point-in-time
Cash, ending	`Cash`	$2.56M	USD	Point-in-time
Cash, ending	`Cash`	$5.73M	USD	Point-in-time
Cash, ending	`Cash`	$7.21M	USD	Point-in-time
Cash, ending	`Cash`	$6.14M	USD	Point-in-time
Interest paid	`InterestPaid`	$180.00K	USD	2 Qtrs
Interest paid	`InterestPaid`	$187.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$1.87M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$3.21M	USD	2 Qtrs
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$183.00K	USD	2 Qtrs
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$16.00K	USD	2 Qtrs
Stock issued for Fabrica assets and U.S. business	`StockIssued1`	$16.00M	USD	2 Qtrs

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