10-Q Filing

ESCO TECHNOLOGIES INC CIK: 866706 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-007148`
Period End Date	20141231
Filing Date	20150209
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	ese-20141231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 37 Cash Flow Statement 58 Comprehensive Income 6

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$30.04M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, progress billings	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$25.02M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$70.69M	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$70.74M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.37M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$37.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.13M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$39.27M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$87.48M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$105.45M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$44.11M	USD	Point-in-time
Advance payments on long-term contracts, costs incurred	`AmountOfDeferredCostsRelatedToLongTermContracts`	$33.03M	USD	Point-in-time
Costs and estimated earnings on long-term contracts, less progress billings of $25,017 and $30,041 respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$24.98M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Costs and estimated earnings on long-term contracts, less progress billings of $25,017 and $30,041 respectively	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$27.80M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$101.02M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventories	`InventoryNet`	$94.29M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Current portion of deferred tax assets	`DeferredTaxAssetsNetCurrent`	$19.22M	USD	Point-in-time
Current portion of deferred tax assets	`DeferredTaxAssetsNetCurrent`	$19.95M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.34M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$12.21M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.25M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$283.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$295.95M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	30.29M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.04M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $70,738 and $70,694, respectively	`PropertyPlantAndEquipmentNet`	$76.47M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.17M	shares	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $70,738 and $70,694, respectively	`PropertyPlantAndEquipmentNet`	$76.23M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $39,274 and $37,402, respectively	`IntangibleAssetsNetExcludingGoodwill`	$182.99M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $39,274 and $37,402, respectively	`IntangibleAssetsNetExcludingGoodwill`	$182.06M	USD	Point-in-time
Goodwill	`Goodwill`	$281.78M	USD	Point-in-time
Goodwill	`Goodwill`	$282.34M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.20M	USD	Point-in-time
Total assets	`Assets`	$833.71M	USD	Point-in-time
Total assets	`Assets`	$845.91M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$20.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$20.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$40.33M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $33,026 and $44,110, respectively	`BillingsInExcessOfCost`	$14.54M	USD	Point-in-time
Advance payments on long-term contracts, less costs incurred of $33,026 and $44,110, respectively	`BillingsInExcessOfCost`	$15.04M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$16.42M	USD	Point-in-time
Accrued salaries	`AccruedSalariesCurrent`	$25.56M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$17.70M	USD	Point-in-time
Current portion of deferred revenue	`DeferredRevenueCurrent`	$19.89M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$26.28M	USD	Point-in-time
Accrued other expenses	`OtherAccruedLiabilitiesCurrent`	$21.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$113.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$147.10M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$18.83M	USD	Point-in-time
Pension obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$19.23M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$77.44M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$77.33M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.96M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.88M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$20.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$40.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$265.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$251.99M	USD	Point-in-time
Preferred stock, par value $.01 per share, authorized 10,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.01 per share, authorized 10,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,287,467 and 30,247,512 shares, respectively	`CommonStockValue`	$303.00K	USD	Point-in-time
Common stock, par value $.01 per share, authorized 50,000,000 shares, issued 30,287,467 and 30,247,512 shares, respectively	`CommonStockValue`	$302.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$285.31M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$285.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$399.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$408.19M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.19M	USD	Point-in-time
Accumulated other comprehensive loss, net of tax	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-21.65M	USD	Point-in-time
Total stockholders' equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$665.87M	USD	Point-in-time
Total stockholders' equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$672.09M	USD	Point-in-time
Less treasury stock, at cost: 4,172,642 and 4,040,532 common shares, respectively	`TreasuryStockValue`	$85.70M	USD	Point-in-time
Less treasury stock, at cost: 4,172,642 and 4,040,532 common shares, respectively	`TreasuryStockValue`	$90.37M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$580.17M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$581.72M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$833.71M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$845.91M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Earnings (loss) from discontinued operations, net of tax expense (benefit)	`DiscontinuedOperationTaxEffectOfIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriod`	$1.31M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$124.45M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$120.55M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$74.28M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$70.42M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$33.50M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$33.87M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.87M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.69M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-195.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-692.00K	USD	1 Quarter
Other (income) expenses, net	`OtherOperatingIncomeExpenseNet`	$-179.00K	USD	1 Quarter
Other (income) expenses, net	`OtherOperatingIncomeExpenseNet`	$221.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$110.71M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$105.77M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$14.78M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.74M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.95M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.91M	USD	1 Quarter
Net earnings from continuing operations	`IncomeLossFromContinuingOperations`	$10.83M	USD	1 Quarter
Net earnings from continuing operations	`IncomeLossFromContinuingOperations`	$8.83M	USD	1 Quarter
Earnings from discontinued operations, net of tax expense of $1,306	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$2.36M	USD	1 Quarter
Earnings from discontinued operations, net of tax expense of $1,306	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	-	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$11.19M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.83M	USD	1 Quarter
Basic - Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.33	USD	1 Quarter
Basic - Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.41	USD	1 Quarter
- Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	-	USD	1 Quarter
- Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.09	USD	1 Quarter
- Net earnings	`EarningsPerShareBasic`	$0.42	USD	1 Quarter
- Net earnings	`EarningsPerShareBasic`	$0.41	USD	1 Quarter
Diluted - Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.33	USD	1 Quarter
Diluted - Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.41	USD	1 Quarter
- Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	-	USD	1 Quarter
- Discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.09	USD	1 Quarter
- Net earnings	`EarningsPerShareDiluted`	$0.41	USD	1 Quarter
- Net earnings	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$11.19M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.83M	USD	1 Quarter
Net earnings from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$2.36M	USD	1 Quarter
Net earnings from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.04M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.25M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$1.25M	USD	1 Quarter
Changes in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$15.15M	USD	1 Quarter
Changes in current assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$7.95M	USD	1 Quarter
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$624.00K	USD	1 Quarter
Effect of deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.40M	USD	1 Quarter
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-1.20M	USD	1 Quarter
Change in deferred revenue and costs, net	`ChangeInDeferredRevenueAndCostsNet`	$-2.80M	USD	1 Quarter
Pension contributions	`PensionContributions`	$620.00K	USD	1 Quarter
Pension contributions	`PensionContributions`	$500.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.56M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.19M	USD	1 Quarter
Net cash (used) provided by operating activities - continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.31M	USD	1 Quarter
Net cash (used) provided by operating activities - continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-398.00K	USD	1 Quarter
Net cash used by operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash used by operating activities - discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-11.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-398.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.68M	USD	1 Quarter
Additions to capitalized software	`PaymentsToAcquireSoftware`	$1.61M	USD	1 Quarter
Additions to capitalized software	`PaymentsToAcquireSoftware`	$1.83M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.13M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$3.53M	USD	1 Quarter
Net cash used by investing activities - continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.15M	USD	1 Quarter
Net cash used by investing activities - continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.96M	USD	1 Quarter
Net cash used by investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash used by investing activities - discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-1.79M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.15M	USD	1 Quarter
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.75M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$20.51M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$45.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$25.00M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$15.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.10M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$2.12M	USD	1 Quarter
Purchases of common stock into treasury	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Purchases of common stock into treasury	`PaymentsForRepurchaseOfCommonStock`	$6.36M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-46.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.49M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.38M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.46M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$574.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.48M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.48M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.37M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$42.85M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.61M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.13M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$42.85M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.61M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.13M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$11.19M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$10.83M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$574.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.46M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.76M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.37M	USD	1 Quarter

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