10-Q Filing

EDAC TECHNOLOGIES CORP CIK: 772572 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001185185-11-001780`
Period End Date	20110930
Filing Date	20111027
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	edac-20111001.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 47 Cash Flow Statement 51

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$239.00K	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`	$1.10M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.87B	shares	Point-in-time
Accounts receivable (net of allowance for for doubtful accounts of $239 as of October 1, 2011 and $121 as of January 1, 2011)	`AccountsReceivableNetCurrent`	$14.96M	USD	Point-in-time
Accounts receivable (net of allowance for for doubtful accounts of $239 as of October 1, 2011 and $121 as of January 1, 2011)	`AccountsReceivableNetCurrent`	$17.06M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.02B	shares	Point-in-time
Inventories, net	`InventoryNet`	$20.22M	USD	Point-in-time
Inventories, net	`InventoryNet`	$20.86M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.02B	shares	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`	$417.00K	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$2.00K	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`	$41.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.03M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$51.82M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$53.99M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$30.68M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$28.59M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$23.31M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$23.22M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$128.00K	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`	$65.08M	USD	Point-in-time
Lines of credit	`LinesOfCreditCurrent`	$3.26M	USD	Point-in-time
Lines of credit	`LinesOfCreditCurrent`	$4.79M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.52M	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`	$7.11M	USD	Point-in-time
Employee compensation and amounts withheld	`EmployeeRelatedLiabilitiesCurrent`	$2.80M	USD	Point-in-time
Employee compensation and amounts withheld	`EmployeeRelatedLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.31M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.14M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$857.00K	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$660.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.70M	USD	Point-in-time
LONG-TERM DEBT, less current portion	`LongTermDebtNoncurrent`	$12.73M	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`	$4.42M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredTaxLiabilitiesNoncurrent`	$4.47M	USD	Point-in-time
Common stock, par value $.0025 per share; issued and outstanding: 5,021,766 on October 1, 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: 5,021,766 on October 1, 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`	$12.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$18.03M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.63M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$30.25M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$27.33M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.50M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.49M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$24.84M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$27.75M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$65.08M	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`	$21.84M	USD	1 Quarter
Sales	`SalesRevenueNet`	$18.53M	USD	1 Quarter
Sales	`SalesRevenueNet`	$63.92M	USD	3 Qtrs
Sales	`SalesRevenueNet`	$55.16M	USD	3 Qtrs
Cost of Sales	`CostOfRevenue`	$53.60M	USD	3 Qtrs
Cost of Sales	`CostOfRevenue`	$48.99M	USD	3 Qtrs
Cost of Sales	`CostOfRevenue`	$17.96M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$16.76M	USD	1 Quarter
Gross Profit	`GrossProfit`	$6.17M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$3.88M	USD	1 Quarter
Gross Profit	`GrossProfit`	$1.77M	USD	1 Quarter
Gross Profit	`GrossProfit`	$10.32M	USD	3 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$2.12M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$5.96M	USD	3 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$4.65M	USD	3 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$1.39M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$1.51M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$1.76M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$4.35M	USD	3 Qtrs
Income from Operations	`OperatingIncomeLoss`	$375.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$711.00K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$252.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$259.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$785.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncome`	$362.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncome`	$8.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncome`	$2.00K	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.58M	USD	3 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$118.00K	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.17M	USD	3 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.51M	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$34.00K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$377.00K	USD	3 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$497.00K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$1.18M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$788.00K	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$2.40M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$84.00K	USD	1 Quarter
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.49	USD	3 Qtrs
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.16	USD	3 Qtrs
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.46	USD	3 Qtrs
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	3 Qtrs
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$788.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.40M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$84.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.01M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.15M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-52.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-54.00K	USD	3 Qtrs
Gain on acquisition of business	`ProceedsFromPreviousAcquisition`	$-350.00K	USD	3 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-8.00K	USD	3 Qtrs
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$255.00K	USD	3 Qtrs
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$324.00K	USD	3 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-95.00K	USD	3 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-42.00K	USD	3 Qtrs
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-4.56M	USD	3 Qtrs
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-1.58M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.88M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.06M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.24M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.20M	USD	3 Qtrs
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$300.00K	USD	3 Qtrs
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.54M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.19M	USD	3 Qtrs
(Decrease) increase in lines of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$2.51M	USD	3 Qtrs
(Decrease) increase in lines of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$-1.53M	USD	3 Qtrs
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$4.11M	USD	3 Qtrs
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$1.46M	USD	3 Qtrs
Issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$5.13M	USD	3 Qtrs
Issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.24M	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$8.00K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$34.00K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$266.00K	USD	3 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$95.00K	USD	3 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$42.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-159.00K	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.37M	USD	3 Qtrs
Increase/(decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-49.00K	USD	3 Qtrs
Increase/(decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$705.00K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.68M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.05M	USD	Point-in-time
Interest paid	`InterestPaid`	$711.00K	USD	3 Qtrs
Interest paid	`InterestPaid`	$785.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$600.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$405.00K	USD	3 Qtrs

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