10-Q Filing

BALCHEM CORP CIK: 9326 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001140361-13-018631`
Period End Date	20130331
Filing Date	20130503
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	bcpc-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 32 Cash Flow Statement 60 Comprehensive Income 12

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$25.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$121.29M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$25.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$149.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$144.74M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$45.68M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$42.00M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Inventories	`InventoryNet`	$20.69M	USD	Point-in-time
Inventories	`InventoryNet`	$23.80M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.05M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.22M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.07	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$326.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.07	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$593.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$694.00K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	29.66M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	29.45M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$513.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$447.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	29.66M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	29.45M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$211.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$221.94M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$54.18M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$52.73M	USD	Point-in-time
Goodwill	`Goodwill`	$28.52M	USD	Point-in-time
Goodwill	`Goodwill`	$28.52M	USD	Point-in-time
Intangible assets with finite lives, net	`FiniteLivedIntangibleAssetsNet`	$17.89M	USD	Point-in-time
Intangible assets with finite lives, net	`FiniteLivedIntangibleAssetsNet`	$18.86M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$538.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$537.00K	USD	Point-in-time
Total assets	`Assets`	$312.55M	USD	Point-in-time
Total assets	`Assets`	$323.06M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$12.20M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$14.28M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$11.82M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$11.98M	USD	Point-in-time
Accrued compensation and other benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.06M	USD	Point-in-time
Accrued compensation and other benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.14M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$123.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.23M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$5.87M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$5.32M	USD	Point-in-time
Other long-term obligations	`OtherLongTermDebtNoncurrent`	$3.43M	USD	Point-in-time
Other long-term obligations	`OtherLongTermDebtNoncurrent`	$3.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$39.53M	USD	Point-in-time
Commitments and contingencies (note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $25 par value. Authorized 2,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $25 par value. Authorized 2,000,000 shares; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.0667 par value. Authorized 60,000,000 shares; 29,657,701 shares issued and outstanding at March 31, 2013 and 29,454,171 shares issued and outstanding at December 31, 2012	`CommonStockValue`	$1.96M	USD	Point-in-time
Common stock, $.0667 par value. Authorized 60,000,000 shares; 29,657,701 shares issued and outstanding at March 31, 2013 and 29,454,171 shares issued and outstanding at December 31, 2012	`CommonStockValue`	$1.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$61.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$57.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$225.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$214.61M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.27M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-759.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$288.07M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$273.01M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$312.55M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$323.06M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$84.65M	USD	1 Quarter
Net sales	`Revenues`	$76.20M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$60.42M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$55.05M	USD	1 Quarter
Gross margin	`GrossProfit`	$24.23M	USD	1 Quarter
Gross margin	`GrossProfit`	$21.16M	USD	1 Quarter
Selling expenses	`SellingExpense`	$4.29M	USD	1 Quarter
Selling expenses	`SellingExpense`	$4.09M	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$776.00K	USD	1 Quarter
Research and development expenses	`ResearchAndDevelopmentExpense`	$838.00K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.24M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.62M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$7.48M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$8.37M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$15.87M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$13.68M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$52.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-53.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.69M	USD	1 Quarter
Earnings before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$15.86M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.42M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.97M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$9.27M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.89M	USD	1 Quarter
Net earnings per common share - basic (in dollars per share)	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Net earnings per common share - basic (in dollars per share)	`EarningsPerShareBasic`	$0.37	USD	1 Quarter
Net earnings per common share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.36	USD	1 Quarter
Net earnings per common share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$9.27M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.62M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.42M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$974.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.08M	USD	1 Quarter
Shares issued under employee benefit plans	`DefinedContributionPlanCostRecognized`	-	USD	1 Quarter
Shares issued under employee benefit plans	`DefinedContributionPlanCostRecognized`	$197.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$-623.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$-354.00K	USD	1 Quarter
Foreign currency transaction loss (gain)	`ForeignCurrencyTransactionGainLossUnrealized`	$59.00K	USD	1 Quarter
Foreign currency transaction loss (gain)	`ForeignCurrencyTransactionGainLossUnrealized`	$-48.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.25M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.98M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.26M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.31M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-290.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-782.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.71M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-362.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.78M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$550.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$69.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-31.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.35M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.65M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.40M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.40M	USD	1 Quarter
Intangible assets acquired	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Intangible assets acquired	`PaymentsToAcquireIntangibleAssets`	$33.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.43M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.40M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$178.00K	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$351.00K	USD	1 Quarter
Repayments of short-term obligations	`RepaymentsOfShortTermDebt`	$89.00K	USD	1 Quarter
Repayments of short-term obligations	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$2.10M	USD	1 Quarter
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$504.00K	USD	1 Quarter
Excess tax benefits from stock compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.49M	USD	1 Quarter
Excess tax benefits from stock compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.09M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$5.24M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$964.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$27.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.47M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.78M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$40.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-39.00K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.51M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.35M	USD	1 Quarter
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$121.29M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$114.78M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$149.09M	USD	Point-in-time
Cash and cash equivalents beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$144.74M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$121.29M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$114.78M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$149.09M	USD	Point-in-time
Cash and cash equivalents end of period	`CashAndCashEquivalentsAtCarryingValue`	$144.74M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$9.27M	USD	1 Quarter
Net change in postretirement benefit plan, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$1.00K	USD	1 Quarter
Net change in postretirement benefit plan, taxes	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax`	$2.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.89M	USD	1 Quarter
Net foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-507.00K	USD	1 Quarter
Net foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$383.00K	USD	1 Quarter
Net change in postretirement benefit plan, net of taxes of $1 and $2 for the three months ended March 31, 2013 and 2012	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$-5.00K	USD	1 Quarter
Net change in postretirement benefit plan, net of taxes of $1 and $2 for the three months ended March 31, 2013 and 2012	`OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax`	$-8.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$375.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-512.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.38M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.64M	USD	1 Quarter

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