10-Q Filing

ASTRONICS CORP CIK: 8063 Q2 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-295830`
Period End Date	20140630
Filing Date	20140805
Fiscal Year	2014
Fiscal Period	Q2
XBRL Instance	atro-20140628.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 44 Cash Flow Statement 59 Comprehensive Income 24

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.82M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.54M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.38M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.63M	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$60.94M	USD	Point-in-time
Accounts Receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$105.11M	USD	Point-in-time
Inventories	`InventoryNet`	$85.27M	USD	Point-in-time
Inventories	`InventoryNet`	$127.32M	USD	Point-in-time
Prepaid Expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.98M	USD	Point-in-time
Prepaid Expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.35M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$211.20M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$267.23M	USD	Point-in-time
Property, Plant and Equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$70.90M	USD	Point-in-time
Property, Plant and Equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$110.15M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$5.70M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$5.47M	USD	Point-in-time
Intangible Assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$96.96M	USD	Point-in-time
Intangible Assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$102.70M	USD	Point-in-time
Goodwill	`Goodwill`	$101.00M	USD	Point-in-time
Goodwill	`Goodwill`	$102.73M	USD	Point-in-time
Total Assets	`Assets`	$491.27M	USD	Point-in-time
Total Assets	`Assets`	$582.77M	USD	Point-in-time
Current Maturities of Long-term Debt	`LongTermDebtCurrent`	$12.28M	USD	Point-in-time
Current Maturities of Long-term Debt	`LongTermDebtCurrent`	$13.32M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$25.25M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$39.52M	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$24.67M	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$28.56M	USD	Point-in-time
Accrued Income Taxes	`AccruedIncomeTaxesCurrent`	$4.00M	USD	Point-in-time
Accrued Income Taxes	`AccruedIncomeTaxesCurrent`	$1.32M	USD	Point-in-time
Customer Advance Payments and Deferred Revenue	`DeferredRevenueAndCreditsCurrent`	$27.39M	USD	Point-in-time
Customer Advance Payments and Deferred Revenue	`DeferredRevenueAndCreditsCurrent`	$20.75M	USD	Point-in-time
Deferred Income Taxes	`DeferredTaxLiabilitiesCurrent`	$970.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$112.80M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$85.24M	USD	Point-in-time
Long-term Debt	`LongTermDebtNoncurrent`	$188.04M	USD	Point-in-time
Long-term Debt	`LongTermDebtNoncurrent`	$232.29M	USD	Point-in-time
Other Liabilities	`OtherLiabilitiesNoncurrent`	$46.48M	USD	Point-in-time
Other Liabilities	`OtherLiabilitiesNoncurrent`	$42.96M	USD	Point-in-time
Total Liabilities	`Liabilities`	$319.76M	USD	Point-in-time
Total Liabilities	`Liabilities`	$388.05M	USD	Point-in-time
Common Stock	`CommonStockValue`	$181.00K	USD	Point-in-time
Common Stock	`CommonStockValue`	$179.00K	USD	Point-in-time
Accumulated Other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.61M	USD	Point-in-time
Accumulated Other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.98M	USD	Point-in-time
Other Shareholders' Equity	`OtherShareholdersEquity`	$198.52M	USD	Point-in-time
Other Shareholders' Equity	`OtherShareholdersEquity`	$174.94M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$171.51M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$194.72M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$582.77M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$491.27M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueGoodsNet`	$70.83M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$174.56M	USD	1 Quarter
Sales	`SalesRevenueGoodsNet`	$144.80M	USD	2 Qtrs
Sales	`SalesRevenueGoodsNet`	$315.51M	USD	2 Qtrs
Cost of Products Sold	`CostOfGoodsSold`	$105.90M	USD	2 Qtrs
Cost of Products Sold	`CostOfGoodsSold`	$52.15M	USD	1 Quarter
Cost of Products Sold	`CostOfGoodsSold`	$131.36M	USD	1 Quarter
Cost of Products Sold	`CostOfGoodsSold`	$242.31M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$43.20M	USD	1 Quarter
Gross Profit	`GrossProfit`	$18.68M	USD	1 Quarter
Gross Profit	`GrossProfit`	$38.90M	USD	2 Qtrs
Gross Profit	`GrossProfit`	$73.21M	USD	2 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$10.70M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$19.86M	USD	2 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$37.10M	USD	2 Qtrs
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$20.72M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$22.48M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$7.98M	USD	1 Quarter
Income from Operations	`OperatingIncomeLoss`	$36.11M	USD	2 Qtrs
Income from Operations	`OperatingIncomeLoss`	$19.04M	USD	2 Qtrs
Interest Expense, Net of Interest Income	`InterestIncomeExpenseNet`	$-4.88M	USD	2 Qtrs
Interest Expense, Net of Interest Income	`InterestIncomeExpenseNet`	$-262.00K	USD	1 Quarter
Interest Expense, Net of Interest Income	`InterestIncomeExpenseNet`	$-480.00K	USD	2 Qtrs
Interest Expense, Net of Interest Income	`InterestIncomeExpenseNet`	$-2.56M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$19.92M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.23M	USD	2 Qtrs
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.72M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$18.56M	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$10.57M	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$2.56M	USD	1 Quarter
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$4.84M	USD	2 Qtrs
Provision for Income Taxes	`IncomeTaxExpenseBenefit`	$6.78M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$20.65M	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$5.16M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$13.14M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$13.72M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.15	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.79	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.75	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.70	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.09	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.28	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$20.65M	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$5.16M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$13.14M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$13.72M	USD	2 Qtrs
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$3.47M	USD	2 Qtrs
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$10.31M	USD	2 Qtrs
Provisions for Non-Cash Losses on Inventory and Receivables	`ProvisionForNonCashLossesOnInventoryAndReceivables`	$515.00K	USD	2 Qtrs
Provisions for Non-Cash Losses on Inventory and Receivables	`ProvisionForNonCashLossesOnInventoryAndReceivables`	$510.00K	USD	2 Qtrs
Stock Compensation Expense	`ShareBasedCompensation`	$866.00K	USD	2 Qtrs
Stock Compensation Expense	`ShareBasedCompensation`	$709.00K	USD	2 Qtrs
Deferred Tax (Benefit) Expense	`DeferredIncomeTaxExpenseBenefit`	$1.09M	USD	2 Qtrs
Deferred Tax (Benefit) Expense	`DeferredIncomeTaxExpenseBenefit`	$-2.77M	USD	2 Qtrs
Other	`OtherNoncashIncomeExpense`	$376.00K	USD	2 Qtrs
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.50M	USD	2 Qtrs
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$33.72M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-17.74M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$5.16M	USD	2 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$4.47M	USD	2 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$3.70M	USD	2 Qtrs
Other Current Assets and Liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$2.93M	USD	2 Qtrs
Other Current Assets and Liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.21M	USD	2 Qtrs
Customer Advanced Payments and Deferred Revenue	`IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits`	$3.85M	USD	2 Qtrs
Customer Advanced Payments and Deferred Revenue	`IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits`	$-2.36M	USD	2 Qtrs
Income Taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.68M	USD	2 Qtrs
Income Taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.08M	USD	2 Qtrs
Supplemental Retirement and Other Liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$587.00K	USD	2 Qtrs
Supplemental Retirement and Other Liabilities	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$615.00K	USD	2 Qtrs
Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$17.32M	USD	2 Qtrs
Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$23.23M	USD	2 Qtrs
Acquisition of Business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$67.85M	USD	2 Qtrs
Capital Expenditures	`PaymentsToAcquireProductiveAssets`	$23.09M	USD	2 Qtrs
Capital Expenditures	`PaymentsToAcquireProductiveAssets`	$3.67M	USD	2 Qtrs
Cash Used For Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-90.94M	USD	2 Qtrs
Cash Used For Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.67M	USD	2 Qtrs
Proceeds from Debt	`ProceedsFromIssuanceOfDebt`	$58.15M	USD	2 Qtrs
Payments for Long-term Debt	`ProceedsFromRepaymentsOfDebt`	$-4.48M	USD	2 Qtrs
Payments for Long-term Debt	`ProceedsFromRepaymentsOfDebt`	$-25.88M	USD	2 Qtrs
Debt Acquisition Costs	`PaymentsOfDebtIssuanceCosts`	$160.00K	USD	2 Qtrs
Debt Acquisition Costs	`PaymentsOfDebtIssuanceCosts`	$280.00K	USD	2 Qtrs
Acquisition Earnout Payments	`PaymentsForPreviousAcquisition`	$42.00K	USD	2 Qtrs
Acquisition Earnout Payments	`PaymentsForPreviousAcquisition`	$81.00K	USD	2 Qtrs
Proceeds from Exercise of Stock Options	`ProceedsFromStockOptionsExercised`	$175.00K	USD	2 Qtrs
Proceeds from Exercise of Stock Options	`ProceedsFromStockOptionsExercised`	$804.00K	USD	2 Qtrs
Income Tax Benefit from Exercise of Stock Options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$57.00K	USD	2 Qtrs
Income Tax Benefit from Exercise of Stock Options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.26M	USD	2 Qtrs
Cash Provided By (Used For) Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.49M	USD	2 Qtrs
Cash Provided By (Used For) Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$34.01M	USD	2 Qtrs
Effect of Exchange Rates on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-6.00K	USD	2 Qtrs
Effect of Exchange Rates on Cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-108.00K	USD	2 Qtrs
(Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-33.81M	USD	2 Qtrs
(Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.15M	USD	2 Qtrs
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$20.82M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$16.54M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.38M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$54.63M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$20.82M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$16.54M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.38M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$54.63M	USD	Point-in-time

Comprehensive Income 24 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$20.65M	USD	2 Qtrs
Net Income	`NetIncomeLoss`	$5.16M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$13.14M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$13.72M	USD	2 Qtrs
Foreign Currency Translation Adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-192.00K	USD	1 Quarter
Foreign Currency Translation Adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-389.00K	USD	2 Qtrs
Foreign Currency Translation Adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-568.00K	USD	2 Qtrs
Foreign Currency Translation Adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-182.00K	USD	1 Quarter
Change in Accumulated (Loss) Income on Derivatives - Net of Tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$23.00K	USD	1 Quarter
Change in Accumulated (Loss) Income on Derivatives - Net of Tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-8.00K	USD	2 Qtrs
Change in Accumulated (Loss) Income on Derivatives - Net of Tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$38.00K	USD	2 Qtrs
Change in Accumulated (Loss) Income on Derivatives - Net of Tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-28.00K	USD	1 Quarter
Retirement Liability Adjustment - Net of Tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-211.00K	USD	2 Qtrs
Retirement Liability Adjustment - Net of Tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-106.00K	USD	1 Quarter
Retirement Liability Adjustment - Net of Tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-208.00K	USD	2 Qtrs
Retirement Liability Adjustment - Net of Tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-105.00K	USD	1 Quarter
Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-104.00K	USD	1 Quarter
Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-64.00K	USD	1 Quarter
Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-368.00K	USD	2 Qtrs
Other Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-140.00K	USD	2 Qtrs
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$13.04M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$20.28M	USD	2 Qtrs
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$5.09M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$13.58M	USD	2 Qtrs

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