10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001437749-14-019450`
Period End Date	20140930
Filing Date	20141104
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	tis-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 70 Cash Flow Statement 67

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$135.00K	USD	Point-in-time
Allowance (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$136.00K	USD	Point-in-time
Accumulated amortization (in Dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$430.00K	USD	Point-in-time
Cash	`Cash`	$7.21M	USD	Point-in-time
Cash	`Cash`	$3.49M	USD	Point-in-time
Cash	`Cash`	$5.73M	USD	Point-in-time
Accumulated amortization (in Dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$7.00K	USD	Point-in-time
Accumulated amortization (in Dollars)	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$18.00K	USD	Point-in-time
Cash	`Cash`	$5.03M	USD	Point-in-time
Accounts receivable, net of allowance of $136 in 2014 and $135 in 2013	`AccountsReceivableNetCurrent`	$6.58M	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 of allowance of $136 in 2014 and $135 in 2013	`AccountsReceivableNetCurrent`	$11.31M	USD	Point-in-time
Inventories, net	`InventoryNet`	$10.14M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$10.92M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, Shares Issued	`CommonStockSharesIssued`	8.07M	shares	Point-in-time
Common stock, Shares Issued	`CommonStockSharesIssued`	8.76M	shares	Point-in-time
Short-term investments	`CashEquivalentsAtCarryingValue`	$5.04M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	8.07M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$863.00K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	8.76M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.16M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$146.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.73M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$544.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$552.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.31M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$158.17M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$137.75M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$48.75M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$42.01M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$109.42M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$95.75M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $430 in 2014	`FiniteLivedIntangibleAssetsNet`	$17.56M	USD	Point-in-time
Goodwill	`Goodwill`	$7.56M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $7 in 2014 and $18 in 2013	`DeferredFinanceCostsNoncurrentNet`	$199.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $7 in 2014 and $18 in 2013	`DeferredFinanceCostsNoncurrentNet`	$40.00K	USD	Point-in-time
Total assets	`Assets`	$164.12M	USD	Point-in-time
Total assets	`Assets`	$127.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.60M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.03M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.39M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$2.70M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$1.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.87M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$26.62M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$13.93M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$17.94M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$19.45M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,757,975 and 8,066,809 shares issued and outstanding in 2014 and 2013, respectively	`CommonStockValue`	$8.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,757,975 and 8,066,809 shares issued and outstanding in 2014 and 2013, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$64.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$46.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$36.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$38.54M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$84.85M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$100.86M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$164.12M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$127.09M	USD	Point-in-time

Income Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$44.43M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$101.38M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$85.60M	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$29.76M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$81.09M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$64.94M	USD	3 Qtrs
Cost of sales	`CostOfGoodsSold`	$22.62M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$35.65M	USD	1 Quarter
Gross profit	`GrossProfit`	$20.66M	USD	3 Qtrs
Gross profit	`GrossProfit`	$7.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$20.29M	USD	3 Qtrs
Gross profit	`GrossProfit`	$8.78M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.12M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.91M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$9.13M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.54M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$322.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$430.00K	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$5.92M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.02M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.73M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$13.75M	USD	3 Qtrs
Interest expense	`InterestExpense`	$215.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$92.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$280.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$90.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$9.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-147.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$21.00K	USD	3 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-141.00K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.93M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.68M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.49M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$10.38M	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$4.86M	USD	3 Qtrs
Current	`CurrentIncomeTaxExpenseBenefit`	$1.11M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$3.04M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$3.26M	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$102.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-1.19M	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-1.50M	USD	3 Qtrs
Deferred	`DeferredIncomeTaxExpenseBenefit`	$274.00K	USD	3 Qtrs
IncomeTaxExpenseBenefit	`IncomeTaxExpenseBenefit`	$1.85M	USD	1 Quarter
IncomeTaxExpenseBenefit	`IncomeTaxExpenseBenefit`	$1.21M	USD	1 Quarter
IncomeTaxExpenseBenefit	`IncomeTaxExpenseBenefit`	$3.36M	USD	3 Qtrs
IncomeTaxExpenseBenefit	`IncomeTaxExpenseBenefit`	$3.53M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.96M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.83M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.02M	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.44	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$1.27	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.84	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$1.25	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.44	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.83	USD	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.96M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.36M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.75M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.81M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.44M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.91M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.07M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.82M	shares	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$1.00	USD	3 Qtrs
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$1.05	USD	3 Qtrs
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.96M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$3.83M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.02M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.29M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.70M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-5.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$102.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.19M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.50M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$274.00K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.61M	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$380.00K	USD	3 Qtrs
Loss on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	$-8.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.49M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.73M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-777.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.53M	USD	3 Qtrs
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$456.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$492.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$300.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.58M	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-44.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-373.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.91M	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.36M	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$708.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$15.87M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$11.72M	USD	3 Qtrs
Acquisition of Fabrica assets and U.S. business	`PaymentsToAcquireBusinessesGross`	$16.70M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.35M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.56M	USD	3 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$6.00K	USD	3 Qtrs
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$2.00K	USD	3 Qtrs
Proceeds from the sale of investment securities	`ProceedsFromSaleOfShortTermInvestments`	$5.04M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-25.01M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.57M	USD	3 Qtrs
Borrowings under long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$30.00M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$15.75M	USD	3 Qtrs
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$864.00K	USD	3 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$7.89M	USD	3 Qtrs
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$8.72M	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.94M	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$79.00K	USD	3 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$20.00K	USD	3 Qtrs
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$963.00K	USD	3 Qtrs
Deferred debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$203.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.43M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.85M	USD	3 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-3.71M	USD	3 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-704.00K	USD	3 Qtrs
Cash, beginning	`Cash`	$7.21M	USD	Point-in-time
Cash, beginning	`Cash`	$3.49M	USD	Point-in-time
Cash, beginning	`Cash`	$5.73M	USD	Point-in-time
Cash, beginning	`Cash`	$5.03M	USD	Point-in-time
Cash, ending	`Cash`	$7.21M	USD	Point-in-time
Cash, ending	`Cash`	$3.49M	USD	Point-in-time
Cash, ending	`Cash`	$5.73M	USD	Point-in-time
Cash, ending	`Cash`	$5.03M	USD	Point-in-time
Interest paid	`InterestPaid`	$279.00K	USD	3 Qtrs
Interest paid	`InterestPaid`	$350.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$3.67M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaidNet`	$2.75M	USD	3 Qtrs
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$16.00K	USD	3 Qtrs
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$329.00K	USD	3 Qtrs
Stock issued for Fabrica assets and U.S. business	`StockIssued1`	$16.00M	USD	3 Qtrs

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