10-Q Filing

XERIUM TECHNOLOGIES INC CIK: 1287151 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001287151-14-000031`
Period End Date	20140331
Filing Date	20140508
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	xrm-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 36 Cash Flow Statement 64

Balance Sheet 74 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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.78M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.76M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$94.62M	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	`AccountsReceivableNetCurrent`	$87.95M	USD	Point-in-time
Inventories, net	`InventoryNet`	$88.30M	USD	Point-in-time
Inventories, net	`InventoryNet`	$83.93M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.57M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.38M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.18M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$15.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$221.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$221.90M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$316.85M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$309.66M	USD	Point-in-time
Goodwill	`Goodwill`	$68.97M	USD	Point-in-time
Goodwill	`Goodwill`	$67.94M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$14.27M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$14.47M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.48M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.11M	USD	Point-in-time
Total assets	`Assets`	$631.06M	USD	Point-in-time
Total assets	`Assets`	$624.06M	USD	Point-in-time
Notes payable	`ShortTermBorrowings`	$8.24M	USD	Point-in-time
Notes payable	`ShortTermBorrowings`	$8.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$42.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$37.87M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$61.37M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$69.14M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.20M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$114.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$117.46M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$433.77M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$432.71M	USD	Point-in-time
Liabilities under capital leases	`CapitalLeaseObligationsNoncurrent`	$4.32M	USD	Point-in-time
Liabilities under capital leases	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.79M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$16.35M	USD	Point-in-time
Pension, other post-retirement and post-employment obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$66.73M	USD	Point-in-time
Pension, other post-retirement and post-employment obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$66.87M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.75M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.57M	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 March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares outstanding as of March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 20,000,000 shares authorized; 15,410,122 and 15,383,903 shares outstanding as of March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$15.00K	USD	Point-in-time
Common stock, $0.001 par value, 20,000,000 shares authorized; 15,410,122 and 15,383,903 shares outstanding as of March 31, 2014 and December 31, 2013, 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`	$414.74M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$415.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-409.69M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-408.52M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.05M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-31.98M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-11.75M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-11.45M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$624.06M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$631.06M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$133.38M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$139.81M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$85.30M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$81.22M	USD	1 Quarter
Selling	`SellingExpense`	$19.22M	USD	1 Quarter
Selling	`SellingExpense`	$18.18M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.80M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.63M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.95M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.95M	USD	1 Quarter
Restructuring	`RestructuringSettlementAndImpairmentProvisions`	$4.65M	USD	1 Quarter
Restructuring	`RestructuringSettlementAndImpairmentProvisions`	$1.25M	USD	1 Quarter
Operating Costs and Expenses, Total	`OperatingCostsAndExpenses`	$120.79M	USD	1 Quarter
Operating Costs and Expenses, Total	`OperatingCostsAndExpenses`	$122.36M	USD	1 Quarter
(Loss) Income from operations	`OperatingIncomeLoss`	$17.44M	USD	1 Quarter
(Loss) Income from operations	`OperatingIncomeLoss`	$12.59M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$9.21M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$8.66M	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-877.00K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-249.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.06M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.99M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.50M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.49M	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-758.00K	USD	1 Quarter
Comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$2.73M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.36	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.36	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.31M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.39M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.37M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.38M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.17M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.49M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$509.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$295.00K	USD	1 Quarter
Depreciation	`Depreciation`	$8.23M	USD	1 Quarter
Depreciation	`Depreciation`	$8.97M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$576.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$416.00K	USD	1 Quarter
Deferred financing cost amortization	`AmortizationOfFinancingCosts`	$716.00K	USD	1 Quarter
Deferred financing cost amortization	`AmortizationOfFinancingCosts`	$709.00K	USD	1 Quarter
Foreign exchange gain on revaluation of debt	`ForeignCurrencyTransactionGainLossUnrealized`	$1.10M	USD	1 Quarter
Foreign exchange gain on revaluation of debt	`ForeignCurrencyTransactionGainLossUnrealized`	$118.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$282.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-808.00K	USD	1 Quarter
Asset impairment	`RestructuringCostsAndAssetImpairmentCharges`	-	USD	1 Quarter
Asset impairment	`RestructuringCostsAndAssetImpairmentCharges`	$928.00K	USD	1 Quarter
(Loss) Gain on disposition of property and equipment	`GainLossOnDispositionOfAssets`	$-27.00K	USD	1 Quarter
(Loss) Gain on disposition of property and equipment	`GainLossOnDispositionOfAssets`	$10.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$35.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$245.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.23M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.05M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-928.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$4.05M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-452.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.60M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.96M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-819.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.95M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.20M	USD	1 Quarter
Deferred and other long-term liabilities	`IncreaseDecreaseInDeferredLiabilities`	$-1.00K	USD	1 Quarter
Deferred and other long-term liabilities	`IncreaseDecreaseInDeferredLiabilities`	$-2.16M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.28M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.76M	USD	1 Quarter
Capital expenditures, gross	`PaymentsForCapitalImprovements`	$3.71M	USD	1 Quarter
Capital expenditures, gross	`PaymentsForCapitalImprovements`	$10.49M	USD	1 Quarter
Proceeds from disposals of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$43.00K	USD	1 Quarter
Proceeds from disposals of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$317.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.40M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.45M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$7.58M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$6.60M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$603.00K	USD	1 Quarter
Payment of financing fees	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Payment of financing fees	`PaymentsOfFinancingCosts`	$710.00K	USD	1 Quarter
Payment of obligations under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Payment of obligations under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$190.00K	USD	1 Quarter
Net cash provided by (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$80.00K	USD	1 Quarter
Net cash provided by (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-603.00K	USD	1 Quarter
Effect of exchange rate changes on cash flows	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-298.00K	USD	1 Quarter
Effect of exchange rate changes on cash flows	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-95.00K	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.70M	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.99M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.01M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.78M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$25.72M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$40.76M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.01M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.78M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.72M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$40.76M	USD	Point-in-time
Non-cash capitalized lease asset and liability	`NoncashCapitalizedLeaseAssetandLiability`	-	USD	1 Quarter
Non-cash capitalized lease asset and liability	`NoncashCapitalizedLeaseAssetandLiability`	$4.47M	USD	1 Quarter

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