10-K Filing

EDAC TECHNOLOGIES CORP CIK: 772572 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001185185-12-000347`
Period End Date	20111231
Filing Date	20120308
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	edac-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 24 Cash Flow Statement 61 Stockholders Equity 18

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$284.00K	USD	Point-in-time
allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$121.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	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`	$975.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00B	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $284 as of December 31, 2011 and $121 as of January 1, 2011)	`AccountsReceivableNetCurrent`	$14.96M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $284 as of December 31, 2011 and $121 as of January 1, 2011)	`AccountsReceivableNetCurrent`	$17.91M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.87B	shares	Point-in-time
Inventories	`InventoryNet`	$20.22M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.04B	shares	Point-in-time
Inventories	`InventoryNet`	$20.23M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$184.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.04B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.87B	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$230.00K	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`	$1.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.03M	USD	Point-in-time
Land	`Land`	$1.55M	USD	Point-in-time
Land	`Land`	$1.55M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$10.36M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$10.28M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$43.56M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$39.99M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$51.82M	USD	Point-in-time
PropertyPlantAndEquipmentGross	`PropertyPlantAndEquipmentGross`	$55.46M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$31.41M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$28.59M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$24.05M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$23.22M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$114.00K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$155.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$66.05M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$61.40M	USD	Point-in-time
Lines of credit	`LinesOfCreditCurrent`	$4.79M	USD	Point-in-time
Lines of credit	`LinesOfCreditCurrent`	$2.02M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.45M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.37M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$8.45M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$7.34M	USD	Point-in-time
Employee compensation and amounts withheld	`EmployeeRelatedLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Employee compensation and amounts withheld	`EmployeeRelatedLiabilitiesCurrent`	$2.45M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.14M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.75M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$708.00K	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$857.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.70M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$12.14M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$9.86M	USD	Point-in-time
Pension liabilities, less current portion	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.47M	USD	Point-in-time
Pension liabilities, less current portion	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.53M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.99M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.47M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$15.86M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$19.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$36.56M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE H)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE H)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $.0025 per share; 20,000,000 shares authorized; issued and outstanding-- 5,041,367 on December 31, 2011 and 4,869,469 on January 1, 2011	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock, par value $.0025 per share; 20,000,000 shares authorized; issued and outstanding-- 5,041,367 on December 31, 2011 and 4,869,469 on January 1, 2011	`CommonStockValue`	$12.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$11.69M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.63M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.18M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$31.71M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$27.33M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.10M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.49M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$23.77M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$28.62M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$24.84M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$66.05M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$61.40M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$73.06M	USD	Annual
Sales	`SalesRevenueNet`	$86.63M	USD	Annual
Cost of Sales	`CostOfRevenue`	$72.26M	USD	Annual
Cost of Sales	`CostOfRevenue`	$65.08M	USD	Annual
Gross Profit	`GrossProfit`	$14.38M	USD	Annual
Gross Profit	`GrossProfit`	$7.98M	USD	Annual
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$6.22M	USD	Annual
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$7.99M	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$1.76M	USD	Annual
Income from Operations	`OperatingIncomeLoss`	$6.39M	USD	Annual
Interest Expense	`InterestExpense`	$1.01M	USD	Annual
Interest Expense	`InterestExpense`	$970.00K	USD	Annual
Other	`OtherNonoperatingIncome`	$8.00K	USD	Annual
Other	`OtherNonoperatingIncome`	$377.00K	USD	Annual
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.16M	USD	Annual
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.38M	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$1.83M	USD	Annual
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$318.00K	USD	Annual
Net Income	`NetIncomeLoss`	$845.00K	USD	Annual
Net Income	`NetIncomeLoss`	$3.55M	USD	Annual
Basic Income Per Common Share: (in Dollars per share)	`EarningsPerShareBasic`	$0.72	USD	Annual
Basic Income Per Common Share: (in Dollars per share)	`EarningsPerShareBasic`	$0.17	USD	Annual
Diluted Income Per Common Share: (in Dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	Annual
Diluted Income Per Common Share: (in Dollars per share)	`EarningsPerShareDiluted`	$0.68	USD	Annual

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$845.00K	USD	Annual
Net income	`NetIncomeLoss`	$3.55M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.91M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.69M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-384.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$527.00K	USD	Annual
Gain on acquisition of business	`ProceedsFromPreviousAcquisition`	$-350.00K	USD	Annual
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-1.00K	USD	Annual
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-10.00K	USD	Annual
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$446.00K	USD	Annual
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$339.00K	USD	Annual
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-160.00K	USD	Annual
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-41.00K	USD	Annual
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$71.00K	USD	Annual
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$163.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.16M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.11M	USD	Annual
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$80.00K	USD	Annual
Refundable income taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$32.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-16.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-90.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-46.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$166.00K	USD	Annual
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.11M	USD	Annual
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$501.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$851.00K	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-124.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.20M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-409.00K	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.71M	USD	Annual
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.94M	USD	Annual
Cash paid for businesses acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$300.00K	USD	Annual
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$10.00K	USD	Annual
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$20.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.23M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.69M	USD	Annual
Net (decrease) increase in lines of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$-2.77M	USD	Annual
Net (decrease) increase in lines of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$3.20M	USD	Annual
Borrowings on long-term debt	`ProceedsFromIssuanceOfOtherLongTermDebt`	$5.13M	USD	Annual
Borrowings on long-term debt	`ProceedsFromIssuanceOfOtherLongTermDebt`	$2.24M	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$2.00M	USD	Annual
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$4.76M	USD	Annual
Deferred financing fees	`PaymentsOfFinancingCosts`	$8.00K	USD	Annual
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$34.00K	USD	Annual
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$334.00K	USD	Annual
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$160.00K	USD	Annual
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$41.00K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.52M	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.92M	USD	Annual
Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-125.00K	USD	Annual
Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$589.00K	USD	Annual
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Interest paid	`InterestPaid`	$972.00K	USD	Annual
Interest paid	`InterestPaid`	$1.02M	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	$885.00K	USD	Annual
Income taxes paid	`IncomeTaxesPaidNet`	$670.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$23.77M	USD	Point-in-time
Balances	`StockholdersEquity`	$28.62M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.84M	USD	Point-in-time
Net income	`NetIncomeLoss`	$845.00K	USD	Annual
Net income	`NetIncomeLoss`	$3.55M	USD	Annual
Minimum pension liability	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax`	$-126.00K	USD	Annual
Minimum pension liability	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax`	$-628.00K	USD	Annual
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease`	$18.00K	USD	Annual
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease`	$-107.00K	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$612.00K	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.94M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$19.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$494.00K	USD	Annual
Stock option compensation expense	`AllocatedShareBasedCompensationExpense`	$339.00K	USD	Annual
Stock option compensation expense	`AllocatedShareBasedCompensationExpense`	$446.00K	USD	Annual
Balances	`StockholdersEquity`	$23.77M	USD	Point-in-time
Balances	`StockholdersEquity`	$28.62M	USD	Point-in-time
Balances	`StockholdersEquity`	$24.84M	USD	Point-in-time

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