10-Q Filing

EDAC TECHNOLOGIES CORP CIK: 772572 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-001619`
Period End Date	20120630
Filing Date	20120802
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	edac-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 48 Cash Flow Statement 52

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$373.00K	USD	Point-in-time
Allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$284.00K	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`	$975.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $373 as of June 30, 2012 and $284 as of December 31, 2011)	`AccountsReceivableNetCurrent`	$17.91M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $373 as of June 30, 2012 and $284 as of December 31, 2011)	`AccountsReceivableNetCurrent`	$23.51M	USD	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	5.04M	shares	Point-in-time
Common stock, shares issued (in Shares)	`CommonStockSharesIssued`	5.25M	shares	Point-in-time
Inventories	`InventoryNet`	$24.03M	USD	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	5.04M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	5.25M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	5.09M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	4.92M	shares	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	4.87M	shares	Point-in-time
Inventories	`InventoryNet`	$20.23M	USD	Point-in-time
Common stock, shares outstanding (in Shares)	`CommonStockSharesOutstanding`	4.92M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$230.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$450.00K	USD	Point-in-time
Land and building held for sale	`AssetsHeldForSalePropertyPlantAndEquipment`	$2.69M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNet`	$2.15M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNet`	$1.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$54.47M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$55.46M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$71.31M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$32.55M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$31.41M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$38.76M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$24.05M	USD	Point-in-time
Goodwill and other intangibles	`IntangibleAssetsNetIncludingGoodwill`	$4.00M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$176.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$114.00K	USD	Point-in-time
Total other assets	`OtherAssets`	$4.17M	USD	Point-in-time
Total other assets	`OtherAssets`	$114.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$97.40M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$66.05M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$66.05M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$9.45M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$2.02M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$5.17M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.45M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$9.54M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$8.45M	USD	Point-in-time
Accrued employee compensation and amounts withheld	`EmployeeRelatedLiabilitiesCurrent`	$2.45M	USD	Point-in-time
Accrued employee compensation and amounts withheld	`EmployeeRelatedLiabilitiesCurrent`	$1.92M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.75M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.64M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$708.00K	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$466.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.83M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$12.14M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$26.12M	USD	Point-in-time
Pension liabilities, less current portion	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.36M	USD	Point-in-time
Pension liabilities, less current portion	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.47M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$6.26M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.99M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$34.75M	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`	$63.95M	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: 5,247,691 on June 30, 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: 5,247,691 on June 30, 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`	$14.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.88M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$36.45M	USD	Point-in-time
ShareholdersEquityBeforeComprehensiveLoss	`ShareholdersEquityBeforeComprehensiveLoss`	$31.71M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.00M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.10M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.48M	USD	Point-in-time
Less: accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.49M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$33.45M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$28.62M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$26.44M	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`	$97.40M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$21.88M	USD	1 Quarter
Sales	`SalesRevenueNet`	$50.57M	USD	2 Qtrs
Sales	`SalesRevenueNet`	$42.08M	USD	2 Qtrs
Sales	`SalesRevenueNet`	$26.54M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$40.97M	USD	2 Qtrs
Cost of Sales	`CostOfRevenue`	$18.25M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$21.30M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$35.64M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$9.60M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$3.63M	USD	1 Quarter
Gross Profit	`GrossProfit`	$5.25M	USD	1 Quarter
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`	$5.01M	USD	2 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$2.76M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$1.90M	USD	1 Quarter
Income from Operations	`OtherNonoperatingIncome`	$2.48M	USD	1 Quarter
Income from Operations	`OtherNonoperatingIncome`	$1.73M	USD	1 Quarter
Income from Operations	`OtherNonoperatingIncome`	$2.59M	USD	2 Qtrs
Income from Operations	`OtherNonoperatingIncome`	$4.59M	USD	2 Qtrs
Interest Expense	`InterestExpense`	$270.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$299.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$507.00K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$525.00K	USD	2 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.09M	USD	2 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.07M	USD	2 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.19M	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.46M	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$682.00K	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$743.00K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$1.39M	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$481.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$977.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.44M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.39M	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$2.70M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.19M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.80M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.39M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$937.00K	USD	1 Quarter
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.28	USD	1 Quarter
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`	$0.53	USD	2 Qtrs
Basic Income Per Common Share (in Dollars per share)	`EarningsPerShareBasic`	$0.28	USD	2 Qtrs
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
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`	$0.27	USD	2 Qtrs
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.49	USD	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$977.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.39M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.70M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.39M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.58M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-36.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-42.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-5.00K	USD	2 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-5.00K	USD	2 Qtrs
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$135.00K	USD	2 Qtrs
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$232.00K	USD	2 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-52.00K	USD	2 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-25.00K	USD	2 Qtrs
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-6.63M	USD	2 Qtrs
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-3.23M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.19M	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`	$12.76M	USD	2 Qtrs
Cash paid for business acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$9.23M	USD	2 Qtrs
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$11.00K	USD	2 Qtrs
Proceeds from sales of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.97M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.02M	USD	2 Qtrs
Increase in line of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$6.06M	USD	2 Qtrs
Increase in line of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$7.43M	USD	2 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$18.04M	USD	2 Qtrs
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$3.49M	USD	2 Qtrs
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$1.34M	USD	2 Qtrs
Deferred financing fees	`PaymentsOfFinancingCosts`	$85.00K	USD	2 Qtrs
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$156.00K	USD	2 Qtrs
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$72.00K	USD	2 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$25.00K	USD	2 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$52.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.70M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.23M	USD	2 Qtrs
Increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$59.00K	USD	2 Qtrs
Increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$272.00K	USD	2 Qtrs
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 beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	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
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.62M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
Interest paid	`InterestPaid`	$520.00K	USD	2 Qtrs
Interest paid	`InterestPaid`	$533.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$186.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.15M	USD	2 Qtrs
Portion of business acquisition paid in common stock	`BusinessAcquisitionCostOfAcquiredEntityOtherNoncashConsideration`	$1.65M	USD	Point-in-time

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