10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-009466`
Period End Date	20150331
Filing Date	20150508
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	tis-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 35 Cash Flow Statement 57

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$155.00K	USD	Point-in-time
Allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$155.00K	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$753.00K	USD	Point-in-time
Accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$1.13M	USD	Point-in-time
Cash	`Cash`	$7.21M	USD	Point-in-time
Accumulated amortization	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$20.00K	USD	Point-in-time
Cash	`Cash`	$1.02M	USD	Point-in-time
Cash	`Cash`	$7.22M	USD	Point-in-time
Accumulated amortization	`AccumulatedAmortizationOfNoncurrentDeferredFinanceCosts`	$30.00K	USD	Point-in-time
Cash	`Cash`	$3.27M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance of $155 in 2015 and 2014	`AccountsReceivableNetCurrent`	$8.11M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance of $155 in 2015 and 2014	`AccountsReceivableNetCurrent`	$9.12M	USD	Point-in-time
Inventories, net	`InventoryNet`	$9.65M	USD	Point-in-time
Inventories, net	`InventoryNet`	$11.19M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, Shares Issued	`CommonStockSharesIssued`	8.76M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$634.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$634.00K	USD	Point-in-time
Common stock, Shares Issued	`CommonStockSharesIssued`	8.76M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.28M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	8.76M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$958.00K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	8.76M	shares	Point-in-time
Receivable from related party	`AccountsReceivableRelatedPartiesCurrent`	$1.09M	USD	Point-in-time
Receivable from related party	`AccountsReceivableRelatedPartiesCurrent`	$737.00K	USD	Point-in-time
VAT receivable	`ValueAddedTaxReceivableCurrent`	$1.73M	USD	Point-in-time
VAT receivable	`ValueAddedTaxReceivableCurrent`	$1.66M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$887.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.07M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$611.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$614.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.03M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$169.55M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$180.49M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$51.92M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$49.83M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$119.72M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$128.57M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $1,130 in 2015 and $753 in 2014	`FiniteLivedIntangibleAssetsNet`	$17.24M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $1,130 in 2015 and $753 in 2014	`FiniteLivedIntangibleAssetsNet`	$16.86M	USD	Point-in-time
Goodwill	`Goodwill`	$7.56M	USD	Point-in-time
Goodwill	`Goodwill`	$7.56M	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $30 in 2015 and $20 in 2014	`DeferredFinanceCostsNoncurrentNet`	$183.00K	USD	Point-in-time
Deferred debt issuance costs, net of accumulated amortization of $30 in 2015 and $20 in 2014	`DeferredFinanceCostsNoncurrentNet`	$190.00K	USD	Point-in-time
Total assets	`Assets`	$170.74M	USD	Point-in-time
Total assets	`Assets`	$181.43M	USD	Point-in-time
Bank overdrafts	`BankOverdrafts`	$1.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.75M	USD	Point-in-time
Accounts payable to related party	`AccountsPayableRelatedPartiesCurrent`	$5.47M	USD	Point-in-time
Accounts payable to related party	`AccountsPayableRelatedPartiesCurrent`	$6.59M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.75M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.62M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$2.70M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$2.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.54M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$46.06M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$33.66M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$16.86M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$17.02M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,759,225 and 8,757,975 shares issued and outstanding in 2015 and 2014, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 8,759,225 and 8,757,975 shares issued and outstanding in 2015 and 2014, respectively	`CommonStockValue`	$9.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$64.57M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$64.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$36.23M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$34.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$98.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$100.51M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$181.43M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$170.74M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$27.76M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$37.41M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$21.74M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$32.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.02M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.18M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.50M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$377.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.84M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.91M	USD	1 Quarter
Interest expense	`InterestExpense`	$13.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$214.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-1.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$186.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.88M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.83M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$808.00K	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$1.42M	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-160.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-239.00K	USD	1 Quarter
IncomeTaxExpenseBenefit	`IncomeTaxExpenseBenefit`	$1.18M	USD	1 Quarter
IncomeTaxExpenseBenefit	`IncomeTaxExpenseBenefit`	$648.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.24M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.06M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.76M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.82M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.15M	shares	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter
Dividends per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.64M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.24M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.48M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-160.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-239.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$165.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$267.00K	USD	1 Quarter
Loss on disposal of property, plant and equipment	`GainLossOnDispositionOfAssets`	$-8.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-964.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.01M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.54M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.92M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-112.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-327.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-233.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-146.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-59.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$826.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$872.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$776.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.55M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.81M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.94M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.78M	USD	1 Quarter
Purchases of short-term investments	`PaymentsToAcquireShortTermInvestments`	$2.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.94M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.78M	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$675.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$288.00K	USD	1 Quarter
Increase (decrease) in bank overdrafts	`IncreaseDecreaseInBookOverdrafts`	$-1.71M	USD	1 Quarter
Net borrowings (repayments) on revolving credit line	`ProceedsFromRepaymentsOfLinesOfCredit`	$13.07M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$3.07M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$2.83M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$79.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$22.00K	USD	1 Quarter
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.00K	USD	1 Quarter
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$20.00K	USD	1 Quarter
Deferred debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$4.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.01M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$7.64M	USD	1 Quarter
Net increase in cash	`NetCashProvidedByUsedInContinuingOperations`	$2.25M	USD	1 Quarter
Net increase in cash	`NetCashProvidedByUsedInContinuingOperations`	$19.00K	USD	1 Quarter
Cash, beginning	`Cash`	$7.21M	USD	Point-in-time
Cash, beginning	`Cash`	$1.02M	USD	Point-in-time
Cash, beginning	`Cash`	$7.22M	USD	Point-in-time
Cash, beginning	`Cash`	$3.27M	USD	Point-in-time
Cash, ending	`Cash`	$7.21M	USD	Point-in-time
Cash, ending	`Cash`	$1.02M	USD	Point-in-time
Cash, ending	`Cash`	$7.22M	USD	Point-in-time
Cash, ending	`Cash`	$3.27M	USD	Point-in-time
Interest paid	`InterestPaid`	$101.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$87.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	$300.00K	USD	1 Quarter
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$4.00K	USD	1 Quarter
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$16.00K	USD	1 Quarter

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