10-Q Filing

STURM RUGER & CO INC CIK: 95029 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001174947-13-000304`
Period End Date	20130630
Filing Date	20130731
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	rgr-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 68 Cash Flow Statement 60 Stockholders Equity 14

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Treasury stock, shares	`TreasuryStockShares`	4.30M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	4.30M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.98M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$75.96M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$81.06M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$64.78M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$57.34M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$43.02M	USD	Point-in-time
Gross inventories	`InventoryGross`	$55.83M	USD	Point-in-time
Gross inventories	`InventoryGross`	$56.15M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$38.63M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$38.09M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$1.73M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$1.47M	USD	Point-in-time
Net inventories	`InventoryNet`	$16.05M	USD	Point-in-time
Net inventories	`InventoryNet`	$16.01M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$7.51M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$5.28M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$693.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.63M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$146.38M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$96.92M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$214.37M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$195.71M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$138.57M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$129.72M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$75.80M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$65.99M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.47M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.57M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$11.89M	USD	Point-in-time
Total Assets	`Assets`	$174.49M	USD	Point-in-time
Total Assets	`Assets`	$236.54M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$44.03M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$38.50M	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$989.00K	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$720.00K	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$26.70M	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$15.18M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$4.60M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$4.55M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$6.12M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$489.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$59.49M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$82.40M	USD	Point-in-time
Accrued pension liability	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$18.14M	USD	Point-in-time
Accrued pension liability	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$19.63M	USD	Point-in-time
Product liability	`ProductLiabilityAccrualNoncurrent`	$337.00K	USD	Point-in-time
Product liability	`ProductLiabilityAccrualNoncurrent`	$238.00K	USD	Point-in-time
Contingent liabilities - Note 10	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingent liabilities - Note 10	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.11M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$15.53M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$161.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$123.44M	USD	Point-in-time
Less: Treasury stock - at cost 2013 and 2012 - 4,299,434 shares	`TreasuryStockValue`	$37.88M	USD	Point-in-time
Less: Treasury stock - at cost 2013 and 2012 - 4,299,434 shares	`TreasuryStockValue`	$37.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-29.62M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-29.62M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$95.03M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$135.77M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$174.49M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$236.54M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueGoodsNet`	$335.43M	USD	2 Qtrs
Net Sales	`SalesRevenueGoodsNet`	$119.57M	USD	1 Quarter
Net Sales	`SalesRevenueGoodsNet`	$179.53M	USD	1 Quarter
Net Sales	`SalesRevenueGoodsNet`	$231.91M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$144.98M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$203.40M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$108.80M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$74.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$45.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$70.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$132.03M	USD	2 Qtrs
Gross profit	`GrossProfit`	$86.93M	USD	2 Qtrs
Selling	`SellingExpense`	$27.59M	USD	2 Qtrs
Selling	`SellingExpense`	$11.82M	USD	1 Quarter
Selling	`SellingExpense`	$9.11M	USD	1 Quarter
Selling	`SellingExpense`	$20.11M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.53M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.32M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$16.76M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$13.90M	USD	2 Qtrs
Other operating expenses (income), net	`OtherExpenses`	$189.00K	USD	1 Quarter
Other operating expenses (income), net	`OtherExpenses`	$-168.00K	USD	1 Quarter
Other operating expenses (income), net	`OtherExpenses`	$190.00K	USD	2 Qtrs
Other operating expenses (income), net	`OtherExpenses`	$-238.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$16.82M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$19.97M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$34.20M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$44.11M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$52.73M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$87.92M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$50.75M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$28.31M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-21.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-55.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-39.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-44.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$303.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$361.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$166.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$483.00K	USD	2 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$282.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$306.00K	USD	2 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$439.00K	USD	2 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$127.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$28.59M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$50.88M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$88.23M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$53.16M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$19.67M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$32.20M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$10.58M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$18.57M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$18.01M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$56.03M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$32.31M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$33.49M	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$2.90	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$1.67	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.94	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$1.75	USD	2 Qtrs
Fully diluted earnings per share	`EarningsPerShareDiluted`	$1.63	USD	1 Quarter
Fully diluted earnings per share	`EarningsPerShareDiluted`	$0.91	USD	1 Quarter
Fully diluted earnings per share	`EarningsPerShareDiluted`	$2.83	USD	2 Qtrs
Fully diluted earnings per share	`EarningsPerShareDiluted`	$1.71	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.89	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.54	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.49	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.32	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$18.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$56.03M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$32.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.49M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.77M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.43M	USD	2 Qtrs
Slow moving inventory valuation adjustment	`InventoryWriteDown`	$-64.00K	USD	2 Qtrs
Slow moving inventory valuation adjustment	`InventoryWriteDown`	$-261.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.20M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.66M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.10M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.30M	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$70.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$13.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.35M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.69M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$14.33M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$5.11M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-216.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.07M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.48M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.40M	USD	2 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-670.00K	USD	2 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$10.86M	USD	2 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$-366.00K	USD	2 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$170.00K	USD	2 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInPrepaidExpenseOtherAssetsAndOtherLiabilities`	$3.30M	USD	2 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInPrepaidExpenseOtherAssetsAndOtherLiabilities`	$-2.05M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.63M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$977.00K	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$37.50M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$69.84M	USD	2 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.34M	USD	2 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.82M	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$70.00K	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$13.00K	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireHeldToMaturitySecurities`	-	USD	2 Qtrs
Purchases of short-term investments	`PaymentsToAcquireHeldToMaturitySecurities`	$29.99M	USD	2 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	$10.00M	USD	2 Qtrs
Proceeds from maturities of short-term investments	`ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities`	-	USD	2 Qtrs
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.75M	USD	2 Qtrs
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-32.32M	USD	2 Qtrs
Tax benefit from exercise of stock options and vesting of RSU's	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.08M	USD	2 Qtrs
Tax benefit from exercise of stock options and vesting of RSU's	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.04M	USD	2 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.04M	USD	2 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.08M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$10.27M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$17.28M	USD	2 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.29M	USD	2 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.28M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.10M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$33.80M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$75.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$81.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$64.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$75.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$81.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.78M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$95.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$135.77M	USD	Point-in-time
Net income and comprehensive income	`NetIncomeLoss`	$18.01M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$56.03M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$32.31M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$33.49M	USD	2 Qtrs
Dividends paid	`DividendsCommonStock`	$-17.28M	USD	2 Qtrs
Accrued dividends	`DividendsPaidinkind`	$-658.00K	USD	2 Qtrs
Recognition of stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.66M	USD	2 Qtrs
Exercise of stock options and vesting of RSU's	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$-2.08M	USD	2 Qtrs
Tax benefit realized from exercise of stock options and vesting of RSU's	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$2.08M	USD	2 Qtrs
Common stock issued - compensation plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	2 Qtrs
Balance	`StockholdersEquity`	$95.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$135.77M	USD	Point-in-time

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