10-Q Filing

EDAC TECHNOLOGIES CORP CIK: 772572 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001185185-12-002365`
Period End Date	20120930
Filing Date	20121102
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	edac-20120929.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 59 Cash Flow Statement 56

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$317.00K	USD	Point-in-time
Allowance for for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$284.00K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$975.00K	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`	$1.68M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $317 as of September 29, 2012 and $284 as of December 31, 2011)	`AccountsReceivableNetCurrent`	$22.58M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $317 as of September 29, 2012 and $284 as of December 31, 2011)	`AccountsReceivableNetCurrent`	$17.91M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.25M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	5.04M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.87M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.04M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.92M	shares	Point-in-time
Inventories	`InventoryNet`	$24.60M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	5.02M	shares	Point-in-time
Inventories	`InventoryNet`	$20.23M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$230.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$543.00K	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`	$55.08M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$55.46M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, at cost	`PropertyPlantAndEquipmentGross`	$73.61M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$31.41M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$33.99M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$39.62M	USD	Point-in-time
PropertyPlantAndEquipmentNet	`PropertyPlantAndEquipmentNet`	$24.05M	USD	Point-in-time
Goodwill and other intangibles	`IntangibleAssetsNetIncludingGoodwill`	$3.81M	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$114.00K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$170.00K	USD	Point-in-time
Total other assets	`OtherAssets`	$3.98M	USD	Point-in-time
Total other assets	`OtherAssets`	$114.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$98.68M	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`	$10.25M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$2.02M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$5.51M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$2.45M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$8.48M	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`	$2.81M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.75M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.67M	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$708.00K	USD	Point-in-time
Customer advances	`CustomerAdvancesCurrent`	$365.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$17.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.09M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$25.01M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$12.14M	USD	Point-in-time
Pension liabilities, less current portion	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.12M	USD	Point-in-time
Pension liabilities, less current portion	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$2.47M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.99M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$6.23M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$33.36M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$19.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$63.45M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.44M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE L)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (NOTE L)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $.0025 per share; issued and outstanding: 5,250,026 on September 29, 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: 5,250,026 on September 29, 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`	$14.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$23.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.18M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.03M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$24.84M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$35.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$28.62M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$98.68M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$66.05M	USD	Point-in-time

Income Statement 59 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$21.84M	USD	1 Quarter
Sales	`SalesRevenueNet`	$27.45M	USD	1 Quarter
Sales	`SalesRevenueNet`	$78.03M	USD	3 Qtrs
Sales	`SalesRevenueNet`	$63.92M	USD	3 Qtrs
Cost of Sales	`CostOfRevenue`	$21.64M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$17.96M	USD	1 Quarter
Cost of Sales	`CostOfRevenue`	$62.61M	USD	3 Qtrs
Cost of Sales	`CostOfRevenue`	$53.60M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$3.88M	USD	1 Quarter
Gross Profit	`GrossProfit`	$5.81M	USD	1 Quarter
Gross Profit	`GrossProfit`	$10.32M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$15.42M	USD	3 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$5.96M	USD	3 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$7.85M	USD	3 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$2.84M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$2.12M	USD	1 Quarter
Income from Operations	`OtherNonoperatingIncome`	$1.76M	USD	1 Quarter
Income from Operations	`OtherNonoperatingIncome`	$7.57M	USD	3 Qtrs
Income from Operations	`OtherNonoperatingIncome`	$4.35M	USD	3 Qtrs
Income from Operations	`OtherNonoperatingIncome`	$2.97M	USD	1 Quarter
Interest Expense	`InterestExpense`	$777.00K	USD	3 Qtrs
Interest Expense	`InterestExpense`	$401.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$252.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$908.00K	USD	3 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.66M	USD	3 Qtrs
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.51M	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.57M	USD	1 Quarter
Income before Provision For Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.58M	USD	3 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$909.00K	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$2.30M	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`	$1.01M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.66M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$4.36M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$2.40M	USD	3 Qtrs
Pension liability	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$81.00K	USD	3 Qtrs
Pension liability	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$11.00K	USD	1 Quarter
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-43.00K	USD	1 Quarter
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-18.00K	USD	1 Quarter
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-11.00K	USD	3 Qtrs
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-12.00K	USD	3 Qtrs
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-32.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$69.00K	USD	3 Qtrs
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-11.00K	USD	3 Qtrs
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-18.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.39M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$994.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.94M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.63M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.43M	USD	3 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`	$0.32	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`	$0.85	USD	3 Qtrs
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.78	USD	3 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`	$0.46	USD	3 Qtrs
Diluted Income Per Common Share (in Dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.36M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.40M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.15M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.65M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-27.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-54.00K	USD	3 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-8.00K	USD	3 Qtrs
Gain on sale of property, plant and equipment	`GainLossOnDispositionOfProperty`	$-12.00K	USD	3 Qtrs
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$364.00K	USD	3 Qtrs
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$339.00K	USD	Annual
Compensation expense pursuant to stock options	`ShareBasedCompensation`	$255.00K	USD	3 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-25.00K	USD	3 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-95.00K	USD	3 Qtrs
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-6.92M	USD	3 Qtrs
Changes in working capital items	`IncreaseDecreaseInOperatingCapital`	$-1.58M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.06M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$389.00K	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.20M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.70M	USD	3 Qtrs
Cash paid for business acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$9.04M	USD	3 Qtrs
Proceeds from sales of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$46.00K	USD	3 Qtrs
Proceeds from sales of equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.70M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.19M	USD	3 Qtrs
Increase (decrease) in line of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$-1.53M	USD	3 Qtrs
Increase (decrease) in line of credit	`ProceedsFromRepaymentsOfShortTermDebt`	$8.23M	USD	3 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$5.13M	USD	3 Qtrs
Borrowings on long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$18.05M	USD	3 Qtrs
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$2.12M	USD	3 Qtrs
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$4.11M	USD	3 Qtrs
Deferred financing fees	`PaymentsOfFinancingCosts`	$8.00K	USD	3 Qtrs
Deferred financing fees	`PaymentsOfFinancingCosts`	$92.00K	USD	3 Qtrs
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$169.00K	USD	3 Qtrs
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$266.00K	USD	3 Qtrs
Proceeds from exercise of common stock options	`ProceedsFromStockOptionsExercised`	$494.00K	USD	Annual
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$25.00K	USD	3 Qtrs
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$95.00K	USD	3 Qtrs
Net cash provided by(used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-159.00K	USD	3 Qtrs
Net cash provided by(used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$24.25M	USD	3 Qtrs
Increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$944.00K	USD	3 Qtrs
Increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$705.00K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.51M	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
Interest paid	`InterestPaid`	$928.00K	USD	3 Qtrs
Interest paid	`InterestPaid`	$785.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$2.20M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$405.00K	USD	3 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.