10-Q Filing

ORCHIDS PAPER PRODUCTS CO /DE CIK: 1324189 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-030374`
Period End Date	20160331
Filing Date	20160429
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	tis-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 36 Cash Flow Statement 63

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$155.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$155.00K	USD	Point-in-time
Cash	`Cash`	$4.36M	USD	Point-in-time
Accumulated amortization, intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.26M	USD	Point-in-time
Accumulated amortization, intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$2.64M	USD	Point-in-time
Cash	`Cash`	$1.02M	USD	Point-in-time
Cash	`Cash`	$8.04M	USD	Point-in-time
Cash	`Cash`	$3.27M	USD	Point-in-time
Accounts receivable, net of allowance of $155 in 2016 and 2015	`AccountsReceivableNetCurrent`	$10.51M	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 $155 in 2016 and 2015	`AccountsReceivableNetCurrent`	$11.72M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common Stock, Shares Authorized (in shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Receivables from related party	`DueFromRelatedPartiesCurrent`	$1.57M	USD	Point-in-time
Receivables from related party	`DueFromRelatedPartiesCurrent`	$1.32M	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.50M	USD	Point-in-time
Common stock, Shares Issued (in shares)	`CommonStockSharesIssued`	10.27M	shares	Point-in-time
Common stock, Shares Issued (in shares)	`CommonStockSharesIssued`	10.28M	shares	Point-in-time
Inventories, net	`InventoryNet`	$13.79M	USD	Point-in-time
Common Stock, Shares Outstanding (in shares)	`CommonStockSharesOutstanding`	10.27M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$5.63M	USD	Point-in-time
Common Stock, Shares Outstanding (in shares)	`CommonStockSharesOutstanding`	10.28M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$5.63M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.52M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.14M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.85M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$38.31M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$256.60M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$232.93M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$62.19M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$59.55M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$194.41M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$173.38M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$7.21M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$12.01M	USD	Point-in-time
VAT receivable	`ValueAddedTaxReceivableNoncurrent`	$1.75M	USD	Point-in-time
VAT receivable	`ValueAddedTaxReceivableNoncurrent`	$1.76M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $2,637 in 2016 and $2,260 in 2015	`FiniteLivedIntangibleAssetsNet`	$15.73M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $2,637 in 2016 and $2,260 in 2015	`FiniteLivedIntangibleAssetsNet`	$15.35M	USD	Point-in-time
Goodwill	`Goodwill`	$7.56M	USD	Point-in-time
Goodwill	`Goodwill`	$7.56M	USD	Point-in-time
Total assets	`Assets`	$248.74M	USD	Point-in-time
Total assets	`Assets`	$271.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.30M	USD	Point-in-time
Accounts payable to related party	`AccountsPayableRelatedPartiesCurrent`	$3.89M	USD	Point-in-time
Accounts payable to related party	`AccountsPayableRelatedPartiesCurrent`	$2.82M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.88M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$7.89M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$3.88M	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$4.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.23M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$70.36M	USD	Point-in-time
Long-term debt, less current portion	`SecuredLongTermDebt`	$87.29M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.12M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.10M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$20.62M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$20.64M	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 10,275,141 and 10,268,891 shares issued and outstanding in 2016 and 2015, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Common stock, $.001 par value, 25,000,000 shares authorized, 10,275,141 and 10,268,891 shares issued and outstanding in 2016 and 2015, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$97.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$98.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$37.75M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$135.83M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$133.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$248.74M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$271.09M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$37.41M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$47.74M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$36.36M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$32.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.38M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.72M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.50M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$377.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$377.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.28M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.91M	USD	1 Quarter
Interest expense	`InterestExpense`	$214.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$263.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$186.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$201.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$8.22M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.88M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$2.83M	USD	1 Quarter
Current	`CurrentIncomeTaxExpenseBenefit`	$808.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-160.00K	USD	1 Quarter
Deferred	`DeferredIncomeTaxExpenseBenefit`	$-21.00K	USD	1 Quarter
IncomeTaxExpenseBenefit	`IncomeTaxExpenseBenefit`	$648.00K	USD	1 Quarter
IncomeTaxExpenseBenefit	`IncomeTaxExpenseBenefit`	$2.81M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.24M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.41M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.53	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.52	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.76M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.27M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.82M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.34M	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 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.24M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.09M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.48M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-21.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-160.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$149.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$267.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.46M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.01M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$284.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.54M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-327.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$385.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$674.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-233.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-975.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$826.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$4.01M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$872.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.86M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.55M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.57M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.94M	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-4.79M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-20.79M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.94M	USD	1 Quarter
Proceeds from economic incentive	`ProceedsFromEconomicIncentive`	$1.90M	USD	1 Quarter
Proceeds from economic incentive	`ProceedsFromEconomicIncentive`	-	USD	1 Quarter
Proceeds from economic incentive	`ProceedsFromEconomicIncentive`	$1.90M	USD	Point-in-time
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$675.00K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfSecuredDebt`	$675.00K	USD	1 Quarter
Decrease in bank overdrafts	`IncreaseDecreaseInBookOverdrafts`	-	USD	1 Quarter
Decrease in bank overdrafts	`IncreaseDecreaseInBookOverdrafts`	$-1.71M	USD	1 Quarter
Net borrowings on revolving credit lines	`ProceedsFromRepaymentsOfLinesOfCredit`	$13.07M	USD	1 Quarter
Net borrowings on revolving credit lines	`ProceedsFromRepaymentsOfLinesOfCredit`	$17.99M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$3.07M	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$3.60M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$22.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$49.00K	USD	1 Quarter
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.00K	USD	1 Quarter
Excess tax benefit of stock options exercised	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$36.00K	USD	1 Quarter
Deferred debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$4.00K	USD	1 Quarter
Deferred debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$101.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$7.64M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.60M	USD	1 Quarter
Net increase in cash	`NetCashProvidedByUsedInContinuingOperations`	$2.25M	USD	1 Quarter
Net increase in cash	`NetCashProvidedByUsedInContinuingOperations`	$3.68M	USD	1 Quarter
Cash, beginning	`Cash`	$4.36M	USD	Point-in-time
Cash, beginning	`Cash`	$1.02M	USD	Point-in-time
Cash, beginning	`Cash`	$8.04M	USD	Point-in-time
Cash, beginning	`Cash`	$3.27M	USD	Point-in-time
Cash, ending	`Cash`	$4.36M	USD	Point-in-time
Cash, ending	`Cash`	$1.02M	USD	Point-in-time
Cash, ending	`Cash`	$8.04M	USD	Point-in-time
Cash, ending	`Cash`	$3.27M	USD	Point-in-time
Interest paid	`InterestPaid`	$101.00K	USD	1 Quarter
Interest paid	`InterestPaid`	$386.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$43.00K	USD	1 Quarter
Tax benefits realized from stock options exercised	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$4.00K	USD	1 Quarter

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