10-Q Filing

EDAC TECHNOLOGIES CORP CIK: 772572 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001185185-11-001061`
Period End Date	20110630
Filing Date	20110728
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	edac-20110702.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 47 Cash Flow Statement 49

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$219.00K	USD	Point-in-time
Allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$121.00K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$661.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.87B	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $219 as of July 2, 2011 and $121 as of January 1, 2011)	`AccountsReceivableNetCurrent`	$17.82M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.92B	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $219 as of July 2, 2011 and $121 as of January 1, 2011)	`AccountsReceivableNetCurrent`	$14.96M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.92B	shares	Point-in-time
Inventories, net	`InventoryNet`	$20.22M	USD	Point-in-time
Inventories, net	`InventoryNet`	$21.53M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.87B	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$184.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$411.00K	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$80.00K	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$80.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.61M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.61M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$42.70M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$53.82M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$51.82M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$28.59M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$29.94M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$23.88M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$23.22M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$131.00K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$155.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$61.40M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$66.71M	USD	Point-in-time
Lines of credit	`LinesOfCreditCurrent`	$4.79M	USD	Point-in-time
Lines of credit	`LinesOfCreditCurrent`	$5.72M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.63M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.37M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$7.34M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$8.05M	USD	Point-in-time
Employee compensation and amounts withheld	`EmployeeRelatedLiabilitiesCurrent`	$1.78M	USD	Point-in-time
Employee compensation and amounts withheld	`EmployeeRelatedLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.23M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.14M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$648.00K	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$857.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.06M	USD	Point-in-time
LONG-TERM DEBT, less current portion	`LongTermDebtNoncurrent`	$13.24M	USD	Point-in-time
LONG-TERM DEBT, less current portion	`LongTermDebtNoncurrent`	$9.86M	USD	Point-in-time
PENSION LIABILITIES	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.53M	USD	Point-in-time
PENSION LIABILITIES	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.53M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$4.47M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$4.44M	USD	Point-in-time
Common stock, par value $.0025 per share; issued and outstanding: 4,924,469 on July 2, 2011 and 4,869,469 on January 1, 2011	`CommonStockValue`	$12.00K	USD	Point-in-time
Common stock, par value $.0025 per share; issued and outstanding: 4,924,469 on July 2, 2011 and 4,869,469 on January 1, 2011	`CommonStockValue`	$12.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.69M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$17.02M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$28.92M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$27.33M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.49M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.48M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$24.84M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$26.44M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$66.71M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$61.40M	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$36.63M	USD	2 Qtrs
Sales	`SalesRevenueNet`	$21.88M	USD	1 Quarter
Sales	`SalesRevenueNet`	$18.84M	USD	1 Quarter
Sales	`SalesRevenueNet`	$42.08M	USD	2 Qtrs
Cost of Sales	`CostOfRevenue`	$16.58M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$35.64M	USD	2 Qtrs
Cost of Sales	`CostOfRevenue`	$32.23M	USD	2 Qtrs
Cost of Sales	`CostOfRevenue`	$18.25M	USD	1 Quarter
Gross Profit	`GrossProfit`	$2.26M	USD	1 Quarter
Gross Profit	`GrossProfit`	$3.63M	USD	1 Quarter
Gross Profit	`GrossProfit`	$4.40M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$6.44M	USD	2 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$3.85M	USD	2 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$1.90M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$3.26M	USD	2 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$1.53M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$729.00K	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$1.14M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$1.73M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$2.59M	USD	2 Qtrs
Interest Expense	`InterestExpense`	$226.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$452.00K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$533.00K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$273.00K	USD	1 Quarter
Other	`OtherNonoperatingIncome`	$360.00K	USD	2 Qtrs
Other	`OtherNonoperatingIncome`	$8.00K	USD	2 Qtrs
Other	`OtherNonoperatingIncome`	$3.00K	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.07M	USD	2 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$503.00K	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.05M	USD	2 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.46M	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$343.00K	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$682.00K	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$158.00K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$481.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$704.00K	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$977.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$345.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.39M	USD	2 Qtrs
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.15	USD	2 Qtrs
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.28	USD	2 Qtrs
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	2 Qtrs
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.27	USD	2 Qtrs

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$704.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$977.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$345.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.39M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.33M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.39M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-36.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$8.00K	USD	2 Qtrs
Gain on acquisition of business	`ProceedsFromPreviousAcquisition`	$-350.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-5.00K	USD	2 Qtrs
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$216.00K	USD	2 Qtrs
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$135.00K	USD	2 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-52.00K	USD	2 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-42.00K	USD	2 Qtrs
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-3.23M	USD	2 Qtrs
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-3.45M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.59M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-404.00K	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.03M	USD	2 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$783.00K	USD	2 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$300.00K	USD	2 Qtrs
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.02M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.08M	USD	2 Qtrs
Increase in lines of credit (Note B)	`ProceedsFromRepaymentsOfShortTermDebt`	$6.06M	USD	2 Qtrs
Increase in lines of credit (Note B)	`ProceedsFromRepaymentsOfShortTermDebt`	$859.00K	USD	2 Qtrs
Repayments of long-term debt (Note B)	`RepaymentsOfLongTermDebt`	$3.49M	USD	2 Qtrs
Repayments of long-term debt (Note B)	`RepaymentsOfLongTermDebt`	$948.00K	USD	2 Qtrs
Issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.24M	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$34.00K	USD	2 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$72.00K	USD	2 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$42.00K	USD	2 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$52.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.23M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.70M	USD	2 Qtrs
Increase/(decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$272.00K	USD	2 Qtrs
Increase/(decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-439.00K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$661.00K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$661.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Interest paid	`InterestPaid`	$533.00K	USD	2 Qtrs
Interest paid	`InterestPaid`	$452.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$225.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$186.00K	USD	2 Qtrs

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