10-Q Filing

MARINE PRODUCTS CORP CIK: 1129155 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001188112-11-003048`
Period End Date	20110930
Filing Date	20111103
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	mpx-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 52 Cash Flow Statement 60 Stockholders Equity 13

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.05M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$14.75M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesCurrent`	$12.83M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.18M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.09M	USD	Point-in-time
Inventories	`InventoryNet`	$21.88M	USD	Point-in-time
Inventories	`InventoryNet`	$23.14M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$481.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$920.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$874.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.32M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.63M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$48.27M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$11.86M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$12.42M	USD	Point-in-time
Goodwill	`Goodwill`	$3.31M	USD	Point-in-time
Goodwill	`Goodwill`	$3.31M	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$465.00K	USD	Point-in-time
Other intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$465.00K	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$40.79M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesDebtSecuritiesNoncurrent`	$30.01M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$3.14M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$3.24M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.10M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.94M	USD	Point-in-time
Total assets	`Assets`	$112.14M	USD	Point-in-time
Total assets	`Assets`	$102.81M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.88M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$8.62M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$9.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.50M	USD	Point-in-time
Pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$5.37M	USD	Point-in-time
Pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$5.58M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$429.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$423.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.50M	USD	Point-in-time
Common stock	`CommonStockValue`	$3.74M	USD	Point-in-time
Common stock	`CommonStockValue`	$3.71M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$371.00K	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapital`	$979.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$83.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$86.32M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-932.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-996.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$90.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$86.31M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$102.81M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$112.14M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$78.50M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$24.03M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$80.20M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$22.25M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$17.62M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$66.08M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$64.50M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$19.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.08M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.00M	USD	3 Qtrs
Gross profit	`GrossProfit`	$14.12M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.81M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.68M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.18M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.31M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$1.49M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.32M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$278.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$233.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$741.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$876.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.18M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.73M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.46M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.06M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$963.00K	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$527.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$797.00K	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$455.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.10M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.38M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.20M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.09	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.09	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.09	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.08	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.40M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.17M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.36M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.19M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.64M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.78M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.59M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.57M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.10M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.38M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$696.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$827.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.09M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.23M	USD	3 Qtrs
Excess tax benefits for share-based payment	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$77.00K	USD	3 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-16.00K	USD	3 Qtrs
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-596.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$912.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-62.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.98M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.26M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.60M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-128.00K	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-6.38M	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-558.00K	USD	3 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-58.00K	USD	3 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-154.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.73M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.53M	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$181.00K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$397.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$628.00K	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$186.00K	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-183.00K	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-188.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.11M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.59M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$142.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$80.00K	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$24.77M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$22.00M	USD	3 Qtrs
Sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$5.02M	USD	3 Qtrs
Sales of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$5.80M	USD	3 Qtrs
Maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$11.67M	USD	3 Qtrs
Maturities of marketable securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$8.76M	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.35M	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.39M	USD	3 Qtrs
Excess tax benefit for share-based payments	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$77.00K	USD	3 Qtrs
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$244.00K	USD	3 Qtrs
Cash paid for common stock purchased and retired	`PaymentsForRepurchaseOfCommonStock`	$447.00K	USD	3 Qtrs
Proceeds received upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$54.00K	USD	3 Qtrs
Proceeds received upon exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.00K	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-238.00K	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-316.00K	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.08M	USD	3 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.48M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.05M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.05M	USD	Point-in-time
Income tax payments (refunds), net	`IncomeTaxesPaidNet`	$47.00K	USD	3 Qtrs
Income tax payments (refunds), net	`IncomeTaxesPaidNet`	$-5.18M	USD	3 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$90.10M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$86.31M	USD	Point-in-time
Stock issued for stock incentive plans, net	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$1.13M	USD	3 Qtrs
Stock purchased and retired	`StockValueRepurchasedAndRetiredDuringPeriod`	$573.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.10M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.38M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.20M	USD	1 Quarter
Pension adjustment	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax`	$-19.00K	USD	3 Qtrs
Unrealized gain on securities, net of reclassification adjustment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$45.00K	USD	3 Qtrs
Excess tax benefits for share-based payments	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$77.00K	USD	3 Qtrs
Ending Balance	`StockholdersEquity`	$90.10M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$86.31M	USD	Point-in-time

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