10-Q Filing

EDAC TECHNOLOGIES CORP CIK: 772572 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-000894`
Period End Date	20120331
Filing Date	20120501
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	edac-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 24 Cash Flow Statement 47

Balance Sheet 72 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`	$311.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.28M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $311 as of March 31, 2012 and $284 as of December 31, 2011)	`AccountsReceivableNetCurrent`	$19.82M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $311 as of March 31, 2012 and $284 as of December 31, 2011)	`AccountsReceivableNetCurrent`	$17.91M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.09B	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.04B	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.09B	shares	Point-in-time
Inventories	`InventoryNet`	$20.23M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.04B	shares	Point-in-time
Inventories	`InventoryNet`	$22.87M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$428.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$230.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNet`	$1.95M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNet`	$1.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$46.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.88M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$55.46M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$59.20M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$31.41M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$32.16M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$27.03M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$24.05M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$114.00K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$102.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$74.03M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$66.05M	USD	Point-in-time
Lines of credit	`LinesOfCreditCurrent`	$2.02M	USD	Point-in-time
Lines of credit	`LinesOfCreditCurrent`	$6.59M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.45M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.39M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$8.45M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$10.97M	USD	Point-in-time
Employee compensation and amountswithheld	`EmployeeRelatedLiabilitiesCurrent`	$2.45M	USD	Point-in-time
Employee compensation and amountswithheld	`EmployeeRelatedLiabilitiesCurrent`	$2.24M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.26M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.75M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$431.00K	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$708.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.89M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$12.14M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$11.57M	USD	Point-in-time
Pension liabilities, less current portion	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$1.94M	USD	Point-in-time
Pension liabilities, less current portion	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.47M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$5.16M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.99M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$19.60M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$18.67M	USD	Point-in-time
Total liabilities	`Liabilities`	$43.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.44M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $.0025 per share; issued and outstanding: 5,090,368 on March 31, 2012 and 5,041,367 on December 31, 2011	`CommonStockValue`	$13.00K	USD	Point-in-time
Common stock, par value $.0025 per share; issued and outstanding: 5,090,368 on March 31, 2012 and 5,041,367 on December 31, 2011	`CommonStockValue`	$13.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$20.43M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$31.71M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$33.22M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.10M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$30.47M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$28.62M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$66.05M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$74.03M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$20.20M	USD	1 Quarter
Sales	`SalesRevenueNet`	$24.03M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$17.39M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$19.67M	USD	1 Quarter
Gross Profit	`GrossProfit`	$2.81M	USD	1 Quarter
Gross Profit	`GrossProfit`	$4.36M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$2.25M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$1.95M	USD	1 Quarter
Income from Operations	`OtherNonoperatingIncome`	$2.11M	USD	1 Quarter
Income from Operations	`OtherNonoperatingIncome`	$864.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$208.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$255.00K	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.90M	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$609.00K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$201.00K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$646.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$408.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.25M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.61M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$455.00K	USD	1 Quarter
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.23	USD	1 Quarter
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$408.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.25M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$675.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$784.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-18.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-18.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-5.00K	USD	1 Quarter
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-5.00K	USD	1 Quarter
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$108.00K	USD	1 Quarter
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$68.00K	USD	1 Quarter
Provision for doubtful accounts receivable	`ProvisionForDoubtfulAccounts`	$27.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-25.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-52.00K	USD	1 Quarter
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-2.23M	USD	1 Quarter
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-2.23M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-100.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.15M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$772.00K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.76M	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$11.00K	USD	1 Quarter
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.75M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-767.00K	USD	1 Quarter
Increase in lines of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$4.57M	USD	1 Quarter
Increase in lines of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$2.61M	USD	1 Quarter
Repayments of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$-513.00K	USD	1 Quarter
Repayments of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$-637.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$138.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$72.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$25.00K	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$52.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.22M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.10M	USD	1 Quarter
Increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$304.00K	USD	1 Quarter
Increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$252.00K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.28M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.28M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.82M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Interest paid	`InterestPaid`	$260.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$213.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$10.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$424.00K	USD	1 Quarter

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