10-Q Filing

XERIUM TECHNOLOGIES INC CIK: 1287151 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001287151-17-000032`
Period End Date	20170331
Filing Date	20170503
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	xrm-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 38 Cash Flow Statement 66

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.81M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.45M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$74.67M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$68.67M	USD	Point-in-time
Inventories, net	`InventoryNet`	$70.82M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$74.00M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$5.66M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	16.17M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.33M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	16.15M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$15.78M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$17.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$174.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$182.19M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$288.01M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$284.10M	USD	Point-in-time
Goodwill	`Goodwill`	$56.78M	USD	Point-in-time
Goodwill	`Goodwill`	$58.06M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$7.69M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$7.33M	USD	Point-in-time
Non-current deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$12.81M	USD	Point-in-time
Non-current deferred tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$10.74M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.56M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.35M	USD	Point-in-time
Total assets	`Assets`	$557.12M	USD	Point-in-time
Total assets	`Assets`	$541.91M	USD	Point-in-time
Notes payable	`ShortTermBorrowings`	$7.60M	USD	Point-in-time
Notes payable	`ShortTermBorrowings`	$7.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$42.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.16M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$64.53M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$52.55M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$8.60M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$9.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$111.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$116.62M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$472.92M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$483.98M	USD	Point-in-time
Liabilities under capital leases	`CapitalLeaseObligationsNoncurrent`	$18.22M	USD	Point-in-time
Liabilities under capital leases	`CapitalLeaseObligationsNoncurrent`	$19.24M	USD	Point-in-time
Non-current deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$8.44M	USD	Point-in-time
Non-current deferred tax liability	`DeferredTaxLiabilitiesNoncurrent`	$7.16M	USD	Point-in-time
Pension, other post-retirement and post-employment obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$65.18M	USD	Point-in-time
Pension, other post-retirement and post-employment obligations	`PensionAndOtherPostretirementAndPostemploymentBenefitPlansLiabilitiesNoncurrent`	$65.03M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$7.86M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$9.06M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares outstanding as of March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares outstanding as of March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value, 20,000,000 shares authorized; 16,167,949 and 16,152,946 shares outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$16.00K	USD	Point-in-time
Common stock, $0.001 par value, 20,000,000 shares authorized; 16,167,949 and 16,152,946 shares outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$16.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$431.35M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapital`	$430.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-445.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-443.07M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-125.04M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-134.68M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-139.57M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-146.91M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$541.91M	USD	Point-in-time
Total liabilities and stockholders deficit	`LiabilitiesAndStockholdersEquity`	$557.12M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`SalesRevenueNet`	$119.87M	USD	1 Quarter
Net Sales	`SalesRevenueNet`	$114.97M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$72.37M	USD	1 Quarter
Cost of products sold	`CostOfGoodsSold`	$71.43M	USD	1 Quarter
Selling	`SellingExpense`	$15.72M	USD	1 Quarter
Selling	`SellingExpense`	$15.67M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.51M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.65M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.94M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.74M	USD	1 Quarter
Restructuring	`RestructuringSettlementAndImpairmentProvisions`	$3.16M	USD	1 Quarter
Restructuring	`RestructuringSettlementAndImpairmentProvisions`	$2.83M	USD	1 Quarter
Costs and expenses	`OperatingCostsAndExpenses`	$105.61M	USD	1 Quarter
Costs and expenses	`OperatingCostsAndExpenses`	$103.43M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$14.26M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$11.54M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$13.26M	USD	1 Quarter
Interest expense, net	`InterestAndDebtExpense`	$10.34M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-25.00K	USD	1 Quarter
Foreign exchange (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$24.00K	USD	1 Quarter
Foreign exchange (loss) gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.12M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.22M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-153.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.68M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.67M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.83M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.37M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.81M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.09	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.09	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.79M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	16.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	16.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.79M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.45M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.83M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$592.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$531.00K	USD	1 Quarter
Depreciation	`Depreciation`	$7.90M	USD	1 Quarter
Depreciation	`Depreciation`	$7.82M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$94.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$273.00K	USD	1 Quarter
Deferred financing cost amortization	`AmortizationOfFinancingCosts`	$756.00K	USD	1 Quarter
Deferred financing cost amortization	`AmortizationOfFinancingCosts`	$899.00K	USD	1 Quarter
Foreign exchange loss on revaluation of debt	`ForeignCurrencyTransactionGainLossUnrealized`	$-627.00K	USD	1 Quarter
Foreign exchange loss on revaluation of debt	`ForeignCurrencyTransactionGainLossUnrealized`	$-1.12M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$155.00K	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxExpenseBenefit`	$10.00K	USD	1 Quarter
(Gain) loss on disposition of property and equipment	`GainLossOnDispositionOfAssets`	$-17.00K	USD	1 Quarter
(Gain) loss on disposition of property and equipment	`GainLossOnDispositionOfAssets`	$49.00K	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-25.00K	USD	1 Quarter
Provision (benefit) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$41.00K	USD	1 Quarter
Provision (benefit) for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-72.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.15M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.14M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.23M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-783.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$621.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.02M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.78M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.69M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.33M	USD	1 Quarter
Deferred and other long-term liabilities	`IncreaseDecreaseInDeferredLiabilities`	$-940.00K	USD	1 Quarter
Deferred and other long-term liabilities	`IncreaseDecreaseInDeferredLiabilities`	$792.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.10M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.22M	USD	1 Quarter
Capital expenditures	`PaymentsForCapitalImprovements`	$5.29M	USD	1 Quarter
Capital expenditures	`PaymentsForCapitalImprovements`	$3.55M	USD	1 Quarter
Proceeds from disposals of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$216.00K	USD	1 Quarter
Proceeds from disposals of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$20.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.53M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.07M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$13.31M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromIssuanceOfDebt`	$40.48M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$29.69M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfLongTermDebt`	$16.44M	USD	1 Quarter
Payment of financing fees	`PaymentsOfFinancingCosts`	$170.00K	USD	1 Quarter
Payment of financing fees	`PaymentsOfFinancingCosts`	$98.00K	USD	1 Quarter
Payment of obligations under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$673.00K	USD	1 Quarter
Payment of obligations under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.52M	USD	1 Quarter
Employee taxes paid on equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.03M	USD	1 Quarter
Employee taxes paid on equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.93M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.09M	USD	1 Quarter
Effect of exchange rate changes on cash flows	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.04M	USD	1 Quarter
Effect of exchange rate changes on cash flows	`EffectOfExchangeRateOnCashAndCashEquivalents`	$529.00K	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.61M	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.67M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.81M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.45M	USD	Point-in-time
Noncash capitalized lease asset and liability	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	$1.26M	USD	1 Quarter
Noncash capitalized lease asset and liability	`ConstructionInProgressExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter

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