10-Q Filing

GLOBUS MEDICAL INC CIK: 1237831 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001237831-13-000026`
Period End Date	20130331
Filing Date	20130503
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	gmed-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 32 Cash Flow Statement 58 Comprehensive Income 10

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$142.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$212.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$159.10M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.54M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$961.00K	USD	Point-in-time
Short-term marketable securities	`AvailableForSaleSecuritiesCurrent`	-	USD	Point-in-time
Short-term marketable securities	`AvailableForSaleSecuritiesCurrent`	$30.79M	USD	Point-in-time
Accounts receivable, net of allowances of $1,098 and $961, respectively	`AccountsReceivableNetCurrent`	$59.42M	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
Accounts receivable, net of allowances of $1,098 and $961, respectively	`AccountsReceivableNetCurrent`	$53.50M	USD	Point-in-time
Inventories	`InventoryNet`	$62.31M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	785.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	785.00M	shares	Point-in-time
Inventories	`InventoryNet`	$66.87M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.36M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.27M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.93M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.02M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.27M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$5.55M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.93M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$5.11M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.91M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$23.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$360.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$323.44M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$61.09M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$62.53M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$9.59M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$9.45M	USD	Point-in-time
Goodwill	`Goodwill`	$15.37M	USD	Point-in-time
Goodwill	`Goodwill`	$15.37M	USD	Point-in-time
Long-term marketable securities	`AvailableForSaleSecuritiesNoncurrent`	-	USD	Point-in-time
Long-term marketable securities	`AvailableForSaleSecuritiesNoncurrent`	$61.79M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.04M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$977.00K	USD	Point-in-time
Total assets	`Assets`	$473.62M	USD	Point-in-time
Total assets	`Assets`	$447.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.78M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.99M	USD	Point-in-time
Accounts payable to related party	`AccountsPayableRelatedPartiesCurrent`	$2.56M	USD	Point-in-time
Accounts payable to related party	`AccountsPayableRelatedPartiesCurrent`	$3.88M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$25.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$19.29M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$11.82M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$523.00K	USD	Point-in-time
Business acquisition liabilities, current	`BusinessAcquisitionLiabilitiesCurrent`	$1.44M	USD	Point-in-time
Business acquisition liabilities, current	`BusinessAcquisitionLiabilitiesCurrent`	$1.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.51M	USD	Point-in-time
Business acquisition liabilities, net of current portion	`BusinessAcquisitionLiabilitiesNoncurrent`	$9.91M	USD	Point-in-time
Business acquisition liabilities, net of current portion	`BusinessAcquisitionLiabilitiesNoncurrent`	$9.56M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$6.97M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$7.71M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.50M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.52M	USD	Point-in-time
Total liabilities	`Liabilities`	$60.63M	USD	Point-in-time
Total liabilities	`Liabilities`	$65.32M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; $0.001 par value. Authorized 785,000 shares; issued and outstanding 91,933 and 91,270 shares at March 31, 2013 and December 31, 2012	`CommonStockValue`	$91.00K	USD	Point-in-time
Common stock; $0.001 par value. Authorized 785,000 shares; issued and outstanding 91,933 and 91,270 shares at March 31, 2013 and December 31, 2012	`CommonStockValue`	$92.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$139.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$136.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.36M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-767.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$250.68M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$270.57M	USD	Point-in-time
Total equity	`StockholdersEquity`	$386.50M	USD	Point-in-time
Total equity	`StockholdersEquity`	$408.30M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$447.13M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$473.62M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$94.72M	USD	1 Quarter
Sales	`SalesRevenueNet`	$105.02M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$18.39M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$23.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$76.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$81.53M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.74M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.85M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$45.40M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$41.23M	USD	1 Quarter
Provision for litigation settlements	`GainLossRelatedToLitigationSettlement`	$-50.00K	USD	1 Quarter
Provision for litigation settlements	`GainLossRelatedToLitigationSettlement`	$-307.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$52.29M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$48.27M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$28.06M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$29.23M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$279.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$225.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$28.28M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$29.51M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$9.62M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$10.71M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$17.58M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$19.89M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	88.22M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	91.81M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	90.88M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	93.57M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.89M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.38M	USD	1 Quarter
Provision for excess and obsolete inventories	`InventoryWriteDown`	$2.00M	USD	1 Quarter
Provision for excess and obsolete inventories	`InventoryWriteDown`	$1.85M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.31M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.11M	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$54.00K	USD	1 Quarter
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$226.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-949.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.90M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.18M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.73M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.01M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$425.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$850.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-320.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-517.00K	USD	1 Quarter
Accounts payable to related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$1.32M	USD	1 Quarter
Accounts payable to related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$653.00K	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-4.04M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-5.49M	USD	1 Quarter
Income taxes payable/receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$10.90M	USD	1 Quarter
Income taxes payable/receivable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$10.85M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.28M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$22.85M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireInvestments`	$93.19M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.31M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.77M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-99.96M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.31M	USD	1 Quarter
Payment of business acquisition liabilities	`PaymentOfBusinessAcquisitionLiabilities`	$400.00K	USD	1 Quarter
Payment of business acquisition liabilities	`PaymentOfBusinessAcquisitionLiabilities`	$300.00K	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonAndPreferredStock`	$885.00K	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonAndPreferredStock`	$88.00K	USD	1 Quarter
Excess tax benefit related to nonqualified stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$303.00K	USD	1 Quarter
Excess tax benefit related to nonqualified stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$24.00K	USD	1 Quarter
Net cash provided by/(used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$788.00K	USD	1 Quarter
Net cash provided by/(used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-188.00K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$80.00K	USD	1 Quarter
Effect of foreign exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$38.00K	USD	1 Quarter
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$16.43M	USD	1 Quarter
Net increase/(decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-80.86M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$142.67M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$212.40M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$159.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$131.54M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$142.67M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$212.40M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$159.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$131.54M	USD	Point-in-time
Interest paid	`InterestPaid`	$17.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$6.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$376.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$418.00K	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.89M	USD	1 Quarter
Unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Unrealized loss on marketable securities, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-30.00K	USD	1 Quarter
Foreign currency translation, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-563.00K	USD	1 Quarter
Foreign currency translation, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$301.00K	USD	1 Quarter
Total other comprehensive income/(loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$301.00K	USD	1 Quarter
Total other comprehensive income/(loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-593.00K	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$17.88M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$19.30M	USD	1 Quarter

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