10-Q Filing

XERIUM TECHNOLOGIES INC CIK: 1287151 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-339370`
Period End Date	20120630
Filing Date	20120807
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	xrm-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 75 Cash Flow Statement 67

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.49M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.57M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$91.78M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$86.08M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$83.32M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$81.30M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.18M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.15M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.25M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.51M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$15.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$239.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$225.53M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$335.26M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$314.72M	USD	Point-in-time
Goodwill	`Goodwill`	$59.12M	USD	Point-in-time
Goodwill	`Goodwill`	$58.65M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$22.64M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$21.45M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.81M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.30M	USD	Point-in-time
Total assets	`Assets`	$665.72M	USD	Point-in-time
Total assets	`Assets`	$628.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.74M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$47.80M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$48.58M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.35M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$3.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$85.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$91.10M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$449.49M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$465.51M	USD	Point-in-time
Deferred and long-term taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.58M	USD	Point-in-time
Deferred and long-term taxes	`DeferredTaxLiabilitiesNoncurrent`	$18.00M	USD	Point-in-time
Pension, other post-retirement and post-employment obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$81.19M	USD	Point-in-time
Pension, other post-retirement and post-employment obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$79.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.65M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.54M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares outstanding as of June 30, 2012 and December 31, 2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares outstanding as of June 30, 2012 and December 31, 2011	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 20,000,000 shares authorized; 15,245,620 and 15,145,451 shares outstanding as of June 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$15.00K	USD	Point-in-time
Common stock, $0.001 par value, 20,000,000 shares authorized; 15,245,620 and 15,145,451 shares outstanding as of June 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$15.00K	USD	Point-in-time
Stock warrants	`TemporaryEquityCarryingAmountAttributableToParent`	$13.53M	USD	Point-in-time
Stock warrants	`TemporaryEquityCarryingAmountAttributableToParent`	$13.53M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$411.50M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$412.02M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-401.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-395.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-31.55M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-39.96M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-15.49M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.31M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$628.64M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$665.72M	USD	Point-in-time

Income Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$150.38M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$136.38M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$293.54M	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$270.74M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$181.76M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$92.51M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$173.32M	USD	2 Qtrs
Cost of products sold	`CostOfGoodsSold`	$85.40M	USD	1 Quarter
Selling	`SellingExpense`	$20.51M	USD	1 Quarter
Selling	`SellingExpense`	$38.56M	USD	2 Qtrs
Selling	`SellingExpense`	$19.07M	USD	1 Quarter
Selling	`SellingExpense`	$40.03M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$33.56M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$16.18M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$31.86M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$14.03M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$542.00K	USD	1 Quarter
Restructuring	`RestructuringCharges`	$1.13M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$710.00K	USD	2 Qtrs
Restructuring	`RestructuringCharges`	$5.10M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$6.01M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$2.92M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.87M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$5.83M	USD	2 Qtrs
Operating Costs and Expenses, Total	`OperatingCostsAndExpenses`	$254.67M	USD	2 Qtrs
Operating Costs and Expenses, Total	`OperatingCostsAndExpenses`	$262.07M	USD	2 Qtrs
Operating Costs and Expenses, Total	`OperatingCostsAndExpenses`	$132.66M	USD	1 Quarter
Operating Costs and Expenses, Total	`OperatingCostsAndExpenses`	$122.50M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$13.88M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$17.72M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$16.07M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$31.47M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$19.84M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$18.72M	USD	2 Qtrs
Interest expense, net	`InterestExpense`	$9.12M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$9.98M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.93M	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.93M	USD	1 Quarter
Foreign exchange (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$5.00K	USD	2 Qtrs
Foreign exchange (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$360.00K	USD	2 Qtrs
Foreign exchange (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$-180.00K	USD	1 Quarter
Foreign exchange (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$-159.00K	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.65M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.72M	USD	2 Qtrs
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.29M	USD	2 Qtrs
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.58M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.03M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.35M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.45M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.01M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$2.23M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.27M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$1.62M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-5.30M	USD	2 Qtrs
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$7.53M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$13.92M	USD	2 Qtrs
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-13.71M	USD	2 Qtrs
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-10.23M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.35	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.15	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.15	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.35	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.15	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.05M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.23M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.19M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.02M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.19M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.26M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.24M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.29M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$2.23M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$2.27M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$1.62M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-5.30M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$754.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$2.08M	USD	2 Qtrs
Depreciation	`Depreciation`	$19.19M	USD	2 Qtrs
Depreciation	`Depreciation`	$20.92M	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.15M	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.15M	USD	2 Qtrs
Deferred financing cost amortization	`AmortizationOfFinancingCosts`	$602.00K	USD	2 Qtrs
Deferred financing cost amortization	`AmortizationOfFinancingCosts`	$1.74M	USD	2 Qtrs
Unrealized foreign exchange loss (gain) on revaluation of debt	`ForeignCurrencyTransactionGainLossUnrealized`	$-381.00K	USD	2 Qtrs
Unrealized foreign exchange loss (gain) on revaluation of debt	`ForeignCurrencyTransactionGainLossUnrealized`	$1.41M	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$1.21M	USD	2 Qtrs
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$-360.00K	USD	2 Qtrs
Gain on disposition of property and equipment	`GainLossOnDispositionOfProperty`	$564.00K	USD	2 Qtrs
Gain on disposition of property and equipment	`GainLossOnDispositionOfProperty`	$617.00K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.93M	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.93M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$193.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$462.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.24M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.86M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-230.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$12.03M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$4.08M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.84M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-603.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$309.00K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.36M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.61M	USD	2 Qtrs
Deferred and other long-term liabilities	`IncreaseDecreaseInDeferredLiabilities`	$-350.00K	USD	2 Qtrs
Deferred and other long-term liabilities	`IncreaseDecreaseInDeferredLiabilities`	$-1.09M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.76M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.80M	USD	2 Qtrs
Capital expenditures, gross	`PaymentsForCapitalImprovements`	$12.02M	USD	2 Qtrs
Capital expenditures, gross	`PaymentsForCapitalImprovements`	$7.33M	USD	2 Qtrs
Proceeds from disposals of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.92M	USD	2 Qtrs
Proceeds from disposals of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$981.00K	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-13.70M	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.35M	USD	2 Qtrs
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$3.60M	USD	2 Qtrs
Net decrease in borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	-	USD	2 Qtrs
Net decrease in borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$-181.00K	USD	2 Qtrs
Proceeds from borrowings (maturities longer than 90 days)	`ProceedsFromShortTermDebtMaturingInMoreThanThreeMonths`	$489.81M	USD	2 Qtrs
Proceeds from borrowings (maturities longer than 90 days)	`ProceedsFromShortTermDebtMaturingInMoreThanThreeMonths`	-	USD	2 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebt`	$489.68M	USD	2 Qtrs
Principal payments on debt	`RepaymentsOfLongTermDebt`	$14.88M	USD	2 Qtrs
Payment of deferred financing fees	`PaymentsOfFinancingCosts`	$16.84M	USD	2 Qtrs
Payment of deferred financing fees	`PaymentsOfFinancingCosts`	$1.76M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.64M	USD	2 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.88M	USD	2 Qtrs
Effect of exchange rate changes on cash flows	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-780.00K	USD	2 Qtrs
Effect of exchange rate changes on cash flows	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.31M	USD	2 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.21M	USD	2 Qtrs
Net decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.97M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$33.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$38.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.49M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$43.57M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$33.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$38.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$43.57M	USD	Point-in-time

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