10-Q Filing

STURM RUGER & CO INC CIK: 95029 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001174947-17-001140`
Period End Date	20170630
Filing Date	20170802
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	rgr-20170701.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 64 Cash Flow Statement 60 Stockholders Equity 15

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Treasury stock, shares	`TreasuryStockShares`	5.35M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.42M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$69.22M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$87.13M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$103.07M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$43.95M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$69.44M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$55.56M	USD	Point-in-time
Gross inventories	`InventoryGross`	$99.42M	USD	Point-in-time
Gross inventories	`InventoryGross`	$98.86M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$44.02M	USD	Point-in-time
Less LIFO reserve	`InventoryLIFOReserve`	$42.54M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$2.34M	USD	Point-in-time
Less excess and obsolescence reserve	`InventoryValuationReserves`	$2.60M	USD	Point-in-time
Net inventories	`InventoryNet`	$52.24M	USD	Point-in-time
Net inventories	`InventoryNet`	$54.53M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.66M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.43M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$154.19M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$214.76M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$331.64M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$342.32M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$245.72M	USD	Point-in-time
Less allowances for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$227.40M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$104.24M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$96.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$334.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	-	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$27.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$33.30M	USD	Point-in-time
Total Assets	`Assets`	$284.09M	USD	Point-in-time
Total Assets	`Assets`	$346.88M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$34.59M	USD	Point-in-time
Trade accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$48.49M	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$1.44M	USD	Point-in-time
Product liability	`ProductLiabilityCurrent`	$1.73M	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$15.06M	USD	Point-in-time
Employee compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$25.47M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$4.94M	USD	Point-in-time
Workers' compensation	`WorkersCompensationLiabilityCurrent`	$5.20M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$333.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$56.36M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$80.89M	USD	Point-in-time
Product liability	`ProductLiabilityAccrualNoncurrent`	$78.00K	USD	Point-in-time
Product liability	`ProductLiabilityAccrualNoncurrent`	$86.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$94.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	-	USD	Point-in-time
Contingent liabilities - Note 11	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingent liabilities - Note 11	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock	`CommonStockValue`	$24.09M	USD	Point-in-time
Common Stock	`CommonStockValue`	$24.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$27.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$26.31M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$293.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$309.36M	USD	Point-in-time
Less: Treasury stock - at cost 2017 - 6,419,975 shares 2016 - 5,345,690 shares	`TreasuryStockValue`	$132.21M	USD	Point-in-time
Less: Treasury stock - at cost 2017 - 6,419,975 shares 2016 - 5,345,690 shares	`TreasuryStockValue`	$78.75M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$227.56M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$265.90M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$284.09M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$346.88M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Total net sales	`SalesRevenueGoodsNet`	$131.85M	USD	1 Quarter
Total net sales	`SalesRevenueGoodsNet`	$299.21M	USD	2 Qtrs
Total net sales	`SalesRevenueGoodsNet`	$167.94M	USD	1 Quarter
Total net sales	`SalesRevenueGoodsNet`	$341.05M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$225.25M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$96.91M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$208.51M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$111.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$90.70M	USD	2 Qtrs
Gross profit	`GrossProfit`	$34.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$115.81M	USD	2 Qtrs
Gross profit	`GrossProfit`	$56.69M	USD	1 Quarter
Selling	`SellingExpense`	$12.51M	USD	1 Quarter
Selling	`SellingExpense`	$26.04M	USD	2 Qtrs
Selling	`SellingExpense`	$12.81M	USD	1 Quarter
Selling	`SellingExpense`	$27.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.40M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.14M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$15.24M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$15.49M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$19.65M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$41.53M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$43.12M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$20.21M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$15.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$49.17M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$72.68M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$36.48M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-32.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-70.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-35.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-66.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$780.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$426.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$499.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$293.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$429.00K	USD	2 Qtrs
Total other income, net	`NonoperatingIncomeExpense`	$258.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$394.00K	USD	1 Quarter
Total other income, net	`NonoperatingIncomeExpense`	$714.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.69M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$49.88M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$73.11M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$36.74M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$26.32M	USD	2 Qtrs
Income taxes	`IncomeTaxExpenseBenefit`	$5.49M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$13.23M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$17.46M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$10.20M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$23.52M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$32.42M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$46.79M	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$1.24	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$1.81	USD	2 Qtrs
Basic earnings per share	`EarningsPerShareBasic`	$0.58	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$2.47	USD	2 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$0.57	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$2.44	USD	2 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$1.79	USD	2 Qtrs
Diluted earnings per share	`EarningsPerShareDiluted`	$1.22	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.48	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.83	USD	2 Qtrs
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.48	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.92	USD	2 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$10.20M	USD	1 Quarter
Net income	`NetIncomeLoss`	$23.52M	USD	1 Quarter
Net income	`NetIncomeLoss`	$32.42M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$46.79M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.69M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.65M	USD	2 Qtrs
Slow moving inventory valuation adjustment	`InventoryWriteDown`	$452.00K	USD	2 Qtrs
Slow moving inventory valuation adjustment	`InventoryWriteDown`	$321.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.37M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$700.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.64M	USD	2 Qtrs
Loss on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.00K	USD	2 Qtrs
Loss on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-31.00K	USD	2 Qtrs
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$428.00K	USD	2 Qtrs
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$1.41M	USD	2 Qtrs
Impairment of assets	`OtherOperatingActivitiesCashFlowStatement`	$-10.00K	USD	2 Qtrs
Impairment of assets	`OtherOperatingActivitiesCashFlowStatement`	-	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$-13.88M	USD	2 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$-6.74M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.14M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.97M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-14.16M	USD	2 Qtrs
Trade accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.88M	USD	2 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-10.61M	USD	2 Qtrs
Employee compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-5.48M	USD	2 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$289.00K	USD	2 Qtrs
Product liability	`IncreaseDecreaseInProductLiability`	$-305.00K	USD	2 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.70M	USD	2 Qtrs
Prepaid expenses, other assets and other liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.13M	USD	2 Qtrs
Income taxes payable and prepaid income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$333.00K	USD	2 Qtrs
Income taxes payable and prepaid income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-4.78M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$66.09M	USD	2 Qtrs
Cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$39.91M	USD	2 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.33M	USD	2 Qtrs
Property, plant and equipment additions	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.88M	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	2 Qtrs
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.00K	USD	2 Qtrs
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.33M	USD	2 Qtrs
Cash used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.87M	USD	2 Qtrs
Tax benefit from exercise of stock options and vesting of RSU's	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$8.82M	USD	2 Qtrs
Tax benefit from exercise of stock options and vesting of RSU's	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	2 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.48M	USD	2 Qtrs
Remittance of taxes withheld from employees related to share-based compensation	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$14.00M	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$53.47M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$15.74M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$16.25M	USD	2 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-20.92M	USD	2 Qtrs
Cash used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-72.21M	USD	2 Qtrs
(Decrease) Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$33.84M	USD	2 Qtrs
(Decrease) Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-43.17M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$87.13M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$103.07M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$43.95M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$69.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$87.13M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$103.07M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$43.95M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Repurchase of common stock, shares	`TreasuryStockSharesAcquired`	1.07M	shares	2 Qtrs
Balance	`StockholdersEquity`	$227.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$265.90M	USD	Point-in-time
Net income and comprehensive income	`NetIncomeLoss`	$10.20M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$23.52M	USD	1 Quarter
Net income and comprehensive income	`NetIncomeLoss`	$32.42M	USD	2 Qtrs
Net income and comprehensive income	`NetIncomeLoss`	$46.79M	USD	2 Qtrs
Dividends paid	`DividendsCommonStock`	$16.25M	USD	2 Qtrs
Unpaid dividends accrued	`DividendsPaidinkind`	$204.00K	USD	2 Qtrs
Recognition of stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.64M	USD	2 Qtrs
Vesting of RSU's	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$2.48M	USD	2 Qtrs
Common stock issued - compensation plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	2 Qtrs
Repurchase of 1,074,285 shares of common stock	`TreasuryStockValueAcquiredCostMethod`	$53.47M	USD	2 Qtrs
Balance	`StockholdersEquity`	$227.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$265.90M	USD	Point-in-time

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