10-Q Filing

STURM RUGER & CO INC CIK: 95029 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001174947-14-000285`
Period End Date	20140630
Filing Date	20140729
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	rgr-20140628.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 68 Cash Flow Statement 58 Stockholders Equity 14

Balance Sheet 62 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`	$64.78M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$55.06M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$30.98M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$47.44M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$51.70M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$67.38M	USD	Point-in-time
Gross inventories	`InventoryGross`	$83.03M	USD	Point-in-time
Gross inventories	`InventoryGross`	$64.20M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$39.29M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$38.52M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$3.36M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$2.42M	USD	Point-in-time
Net inventories	`InventoryNet`	$40.38M	USD	Point-in-time
Net inventories	`InventoryNet`	$23.26M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$8.09M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$7.64M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.28M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.80M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$157.63M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$150.41M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$271.88M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$250.13M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$165.83M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$149.10M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$106.06M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$101.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.46M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$27.22M	USD	Point-in-time
Total Assets	`Assets`	$277.12M	USD	Point-in-time
Total Assets	`Assets`	$283.69M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$36.56M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$46.99M	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$941.00K	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$971.00K	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$22.57M	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$34.63M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$5.58M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$5.34M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$239.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$88.17M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$65.66M	USD	Point-in-time
Product liability	`ProductLiabilityAccrualNoncurrent`	$260.00K	USD	Point-in-time
Product liability	`ProductLiabilityAccrualNoncurrent`	$265.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$10.68M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent`	$9.60M	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`	$22.63M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.61M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$218.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$192.09M	USD	Point-in-time
Less: Treasury stock - at cost 2014 and 2013 - 4,299,434 shares	`TreasuryStockValue`	$37.88M	USD	Point-in-time
Less: Treasury stock - at cost 2014 and 2013 - 4,299,434 shares	`TreasuryStockValue`	$37.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.38M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.38M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$179.09M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$207.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$283.69M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$277.12M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueGoodsNet`	$179.53M	USD	1 Quarter
Net Sales	`SalesRevenueGoodsNet`	$153.66M	USD	1 Quarter
Net Sales	`SalesRevenueGoodsNet`	$335.43M	USD	2 Qtrs
Net Sales	`SalesRevenueGoodsNet`	$323.54M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$103.30M	USD	1 Quarter
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`	$212.07M	USD	2 Qtrs
Gross profit	`GrossProfit`	$50.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$132.03M	USD	2 Qtrs
Gross profit	`GrossProfit`	$111.48M	USD	2 Qtrs
Gross profit	`GrossProfit`	$70.72M	USD	1 Quarter
Selling	`SellingExpense`	$11.82M	USD	1 Quarter
Selling	`SellingExpense`	$27.59M	USD	2 Qtrs
Selling	`SellingExpense`	$10.06M	USD	1 Quarter
Selling	`SellingExpense`	$24.48M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.24M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.32M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.98M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$16.76M	USD	2 Qtrs
Other operating expenses (income), net	`OtherExpenses`	-	USD	1 Quarter
Other operating expenses (income), net	`OtherExpenses`	-	USD	2 Qtrs
Other operating expenses (income), net	`OtherExpenses`	$-238.00K	USD	2 Qtrs
Other operating expenses (income), net	`OtherExpenses`	$-168.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$44.11M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$19.97M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$17.31M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$40.46M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$50.75M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$33.05M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$87.92M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$71.02M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-55.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-36.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-73.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-39.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$130.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$495.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$166.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$361.00K	USD	2 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$306.00K	USD	2 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$94.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$127.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$422.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$88.23M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$71.44M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$50.88M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$33.14M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$24.83M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$32.20M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$10.86M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$18.57M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$46.60M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$32.31M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$56.03M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$22.29M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$1.67	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$2.40	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$2.90	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$1.15	USD	1 Quarter
Fully diluted earnings per share	`EarningsPerShareDiluted`	$1.12	USD	1 Quarter
Fully diluted earnings per share	`EarningsPerShareDiluted`	$2.83	USD	2 Qtrs
Fully diluted earnings per share	`EarningsPerShareDiluted`	$2.34	USD	2 Qtrs
Fully diluted earnings per share	`EarningsPerShareDiluted`	$1.63	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$1.03	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.89	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.49	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.49	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$46.60M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$32.31M	USD	1 Quarter
Net income	`NetIncomeLoss`	$56.03M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$22.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.43M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.88M	USD	2 Qtrs
Slow moving inventory valuation adjustment	`InventoryWriteDown`	$960.00K	USD	2 Qtrs
Slow moving inventory valuation adjustment	`InventoryWriteDown`	$-261.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.30M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.50M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.76M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.66M	USD	2 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$70.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$7.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.69M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$623.00K	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$-15.68M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$14.33M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-216.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$18.08M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.48M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.18M	USD	2 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$10.86M	USD	2 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-12.75M	USD	2 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$170.00K	USD	2 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$-35.00K	USD	2 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInPrepaidExpenseOtherAssetsAndOtherLiabilities`	$7.64M	USD	2 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInPrepaidExpenseOtherAssetsAndOtherLiabilities`	$3.30M	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-239.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.63M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$69.84M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$35.58M	USD	2 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.82M	USD	2 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.82M	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$70.00K	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$275.00K	USD	2 Qtrs
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.75M	USD	2 Qtrs
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.54M	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`	$1.62M	USD	2 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.32M	USD	2 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.08M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$23.00K	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$19.99M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$17.28M	USD	2 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-20.66M	USD	2 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.29M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.63M	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`	$64.78M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.44M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$64.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.06M	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`	$47.44M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$179.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$207.09M	USD	Point-in-time
Net income and comprehensive income	`NetIncomeLoss`	$46.60M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$32.31M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$56.03M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$22.29M	USD	1 Quarter
Dividends paid	`DividendsCommonStock`	$-19.99M	USD	2 Qtrs
Unpaid dividends accrued	`DividendsPaidinkind`	$-697.00K	USD	2 Qtrs
Recognition of stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.76M	USD	2 Qtrs
Exercise of stock options and vesting of RSU's	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$-2.29M	USD	2 Qtrs
Tax benefit realized from exercise of stock options and vesting of RSU's	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$1.62M	USD	2 Qtrs
Common stock issued - compensation plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	2 Qtrs
Balance	`StockholdersEquity`	$179.09M	USD	Point-in-time
Balance	`StockholdersEquity`	$207.09M	USD	Point-in-time

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