10-Q Filing

DUCOMMUN INC /DE/ CIK: 30305 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001628280-16-015939`
Period End Date	20160331
Filing Date	20160509
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	dco-20160402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 28 Cash Flow Statement 58 Comprehensive Income 14

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$294.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$359.00K	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$131.86M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$128.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.63M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.44M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $294 and $359 at April 2, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$77.09M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $294 and $359 at April 2, 2016 and December 31, 2015, respectively	`AccountsReceivableNetCurrent`	$77.66M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Inventories	`InventoryNet`	$115.40M	USD	Point-in-time
Inventories	`InventoryNet`	$127.08M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.15M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	11.08M	shares	Point-in-time
Production cost of contracts	`ProductionCostOfContractsCurrent`	$9.67M	USD	Point-in-time
Production cost of contracts	`ProductionCostOfContractsCurrent`	$10.29M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.39M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.44M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$41.64M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$229.29M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$263.26M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $131,863 and $128,533 at April 2, 2016 and December 31, 2015, respectively	`PropertyPlantAndEquipmentNet`	$96.55M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $131,863 and $128,533 at April 2, 2016 and December 31, 2015, respectively	`PropertyPlantAndEquipmentNet`	$95.60M	USD	Point-in-time
Goodwill	`Goodwill`	$82.55M	USD	Point-in-time
Goodwill	`Goodwill`	$82.55M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$110.62M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$108.36M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$353.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$324.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.77M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.21M	USD	Point-in-time
Total Assets	`Assets`	$557.08M	USD	Point-in-time
Total Assets	`Assets`	$519.37M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$26.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$19.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$40.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$47.42M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$36.46M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$42.50M	USD	Point-in-time
Liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$6.78M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$89.93M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$83.61M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$240.66M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$186.03M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$26.53M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$25.05M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$17.69M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$18.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$369.75M	USD	Point-in-time
Total Liabilities	`Liabilities`	$318.71M	USD	Point-in-time
Commitments and contingencies (Notes 11, 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Notes 11, 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - $0.01 par value; 35,000,000 shares authorized; 11,147,366 and 11,084,318 issued at April 2, 2016 and December 31, 2015, respectively	`CommonStockValue`	$111.00K	USD	Point-in-time
Common stock - $0.01 par value; 35,000,000 shares authorized; 11,147,366 and 11,084,318 issued at April 2, 2016 and December 31, 2015, respectively	`CommonStockValue`	$111.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$75.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$75.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$131.17M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$117.62M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.89M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.60M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$187.33M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$200.66M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$557.08M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$519.37M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net Revenues	`SalesRevenueNet`	$142.15M	USD	1 Quarter
Net Revenues	`SalesRevenueNet`	$172.92M	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$146.16M	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$115.18M	USD	1 Quarter
Gross Profit	`GrossProfit`	$26.76M	USD	1 Quarter
Gross Profit	`GrossProfit`	$26.97M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$23.13M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$22.68M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$3.63M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$4.29M	USD	1 Quarter
Interest Expense	`InterestIncomeExpenseNet`	$-2.40M	USD	1 Quarter
Interest Expense	`InterestIncomeExpenseNet`	$-6.66M	USD	1 Quarter
Gain on Divestitures	`GainLossOnSaleOfBusiness`	$18.82M	USD	1 Quarter
Gain on Divestitures	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.71M	USD	1 Quarter
Income (Loss) Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.03M	USD	1 Quarter
Income Tax Expense (Benefit)	`IncomeTaxExpenseBenefit`	$-1.06M	USD	1 Quarter
Income Tax Expense (Benefit)	`IncomeTaxExpenseBenefit`	$7.16M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-1.97M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Basic (loss) earnings per share (in dollars per share)	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Basic (loss) earnings per share (in dollars per share)	`EarningsPerShareBasic`	$1.22	USD	1 Quarter
Diluted (loss) earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$1.21	USD	1 Quarter
Diluted (loss) earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.18	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.96M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.10M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.96M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.24M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-1.97M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.91M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.86M	USD	1 Quarter
Gain on divestitures	`GainLossOnSaleOfBusiness`	$18.82M	USD	1 Quarter
Gain on divestitures	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.62M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-2.56M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$751.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$109.00K	USD	1 Quarter
Recovery of doubtful accounts	`AllowanceForDoubtfulAccountsReceivableRecoveries`	$62.00K	USD	1 Quarter
Recovery of doubtful accounts	`AllowanceForDoubtfulAccountsReceivableRecoveries`	$65.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$1.37M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-643.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-210.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.97M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$12.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.40M	USD	1 Quarter
Production cost of contracts	`IncreaseDecreaseinProductionCostofContract`	$-429.00K	USD	1 Quarter
Production cost of contracts	`IncreaseDecreaseinProductionCostofContract`	$-95.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-4.41M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-7.08M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$342.00K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-10.76M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.44M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$3.48M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$5.45M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.57M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.80M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$9.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Proceeds from divestitures	`ProceedsFromDivestitureOfBusinesses`	$55.27M	USD	1 Quarter
Proceeds from divestitures	`ProceedsFromDivestitureOfBusinesses`	-	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$51.47M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.56M	USD	1 Quarter
Repayments of senior unsecured notes and term loans	`RepaymentsOfUnsecuredDebt`	$55.00M	USD	1 Quarter
Repayments of senior unsecured notes and term loans	`RepaymentsOfUnsecuredDebt`	$10.00M	USD	1 Quarter
Repayments of other debt	`RepaymentsOfDebt`	$7.00K	USD	1 Quarter
Repayments of other debt	`RepaymentsOfDebt`	$6.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$109.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Net proceeds from issuance of common stock under stock plans	`ProceedsFromStockOptionsExercised`	$-931.00K	USD	1 Quarter
Net proceeds from issuance of common stock under stock plans	`ProceedsFromStockOptionsExercised`	$-947.00K	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.84M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-55.94M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$985.00K	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-12.92M	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$45.63M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.44M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$32.70M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$45.63M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.44M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$32.70M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-1.97M	USD	1 Quarter
Amortization of actuarial loss and prior service costs, tax benefits	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax`	$-97.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Amortization of actuarial loss and prior service costs, tax benefits	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax`	$-68.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, tax benefit	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$-239.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, tax benefit	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	-	USD	1 Quarter
Amortization of actuarial losses and prior service costs, net of tax benefit of approximately $68 and $97 for the three months ended April 2, 2016 and April 4, 2015, respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$125.00K	USD	1 Quarter
Amortization of actuarial losses and prior service costs, net of tax benefit of approximately $68 and $97 for the three months ended April 2, 2016 and April 4, 2015, respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$123.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, net of tax benefit (expense) of $239 and zero for the three months ended April 2, 2016 and April 4, 2015, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-408.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, net of tax benefit (expense) of $239 and zero for the three months ended April 2, 2016 and April 4, 2015, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Other Comprehensive (Loss) Income	`OtherComprehensiveIncomeLossNetOfTax`	$-285.00K	USD	1 Quarter
Other Comprehensive (Loss) Income	`OtherComprehensiveIncomeLossNetOfTax`	$125.00K	USD	1 Quarter
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$-1.85M	USD	1 Quarter
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$13.27M	USD	1 Quarter

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