10-Q Filing

DUCOMMUN INC /DE/ CIK: 30305 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001628280-17-004948`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	dco-20170401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 28 Cash Flow Statement 58 Comprehensive Income 14

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$518.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$495.00K	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$135.48M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$138.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	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
Accounts receivable, net of allowance for doubtful accounts of $518 and $495 at April 1, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$71.62M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $518 and $495 at April 1, 2017 and December 31, 2016, respectively	`AccountsReceivableNetCurrent`	$76.24M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	11.19M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	11.27M	shares	Point-in-time
Inventories	`InventoryNet`	$119.90M	USD	Point-in-time
Inventories	`InventoryNet`	$127.20M	USD	Point-in-time
Production cost of contracts	`ProductionCostOfContractsCurrent`	$11.05M	USD	Point-in-time
Production cost of contracts	`ProductionCostOfContractsCurrent`	$11.34M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.59M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.03M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$227.58M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$225.94M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $138,799 and $135,484 at April 1, 2017 and December 31, 2016, respectively	`PropertyPlantAndEquipmentNet`	$101.59M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $138,799 and $135,484 at April 1, 2017 and December 31, 2016, respectively	`PropertyPlantAndEquipmentNet`	$104.87M	USD	Point-in-time
Goodwill	`Goodwill`	$82.55M	USD	Point-in-time
Goodwill	`Goodwill`	$82.55M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$101.57M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$99.36M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$286.00K	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$286.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.32M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.48M	USD	Point-in-time
Total Assets	`Assets`	$517.97M	USD	Point-in-time
Total Assets	`Assets`	$515.43M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$3.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	-	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$57.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$63.31M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$28.09M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$29.28M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$86.31M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$91.41M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$166.90M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtAndCapitalLeaseObligations`	$162.16M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$31.42M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$31.95M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$18.71M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$18.18M	USD	Point-in-time
Total Liabilities	`Liabilities`	$303.33M	USD	Point-in-time
Total Liabilities	`Liabilities`	$303.69M	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; 11,269,350 and 11,193,813 issued at April 1, 2017 and December 31, 2016, respectively	`CommonStockValue`	$113.00K	USD	Point-in-time
Common stock - $0.01 par value; 35,000,000 shares authorized; 11,269,350 and 11,193,813 issued at April 1, 2017 and December 31, 2016, respectively	`CommonStockValue`	$112.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$76.83M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$76.78M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$141.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$143.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.06M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.08M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$214.28M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$212.10M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$515.43M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$517.97M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net Revenues	`SalesRevenueNet`	$136.30M	USD	1 Quarter
Net Revenues	`SalesRevenueNet`	$142.15M	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$111.37M	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$115.18M	USD	1 Quarter
Gross Profit	`GrossProfit`	$24.93M	USD	1 Quarter
Gross Profit	`GrossProfit`	$26.97M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$20.83M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$22.68M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$4.10M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$4.29M	USD	1 Quarter
Interest Expense	`InterestIncomeExpenseNet`	$-1.59M	USD	1 Quarter
Interest Expense	`InterestIncomeExpenseNet`	$-2.40M	USD	1 Quarter
Gain on Divestitures	`GainLossOnSaleOfBusiness`	$18.82M	USD	1 Quarter
Gain on Divestitures	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.51M	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.71M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$7.16M	USD	1 Quarter
Income Tax Expense	`IncomeTaxExpenseBenefit`	$392.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.12M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$1.22	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$1.21	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.10M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.21M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.24M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.49M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.78M	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`	$1.82M	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`	$532.00K	USD	1 Quarter
Provision for (recovery of) doubtful accounts	`ProvisionforRecoveryofDoubtfulAccounts`	$-65.00K	USD	1 Quarter
Provision for (recovery of) doubtful accounts	`ProvisionforRecoveryofDoubtfulAccounts`	$26.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$1.37M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$1.86M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.97M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.59M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$12.37M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.30M	USD	1 Quarter
Production cost of contracts	`IncreaseDecreaseinProductionCostofContract`	$-45.00K	USD	1 Quarter
Production cost of contracts	`IncreaseDecreaseinProductionCostofContract`	$-429.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-7.08M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-610.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.46M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.44M	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$415.00K	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$13.24M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$5.45M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.80M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.80M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.00K	USD	1 Quarter
Proceeds from divestitures	`ProceedsFromDivestitureOfBusinesses`	$55.27M	USD	1 Quarter
Proceeds from divestitures	`ProceedsFromDivestitureOfBusinesses`	-	USD	1 Quarter
Net Cash (Used in) Provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$51.47M	USD	1 Quarter
Net Cash (Used in) Provided by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.79M	USD	1 Quarter
Borrowings from senior secured revolving credit facility	`ProceedsFromSecuredLinesOfCredit`	$55.60M	USD	1 Quarter
Borrowings from senior secured revolving credit facility	`ProceedsFromSecuredLinesOfCredit`	-	USD	1 Quarter
Repayments of senior secured revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$55.60M	USD	1 Quarter
Repayments of senior secured revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	-	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`	$5.00M	USD	1 Quarter
Repayments of other debt	`RepaymentsOfDebt`	$3.00K	USD	1 Quarter
Repayments of other debt	`RepaymentsOfDebt`	$7.00K	USD	1 Quarter
Net (cash paid) proceeds from issuance of common stock under stock plans	`PaymentsFromIssuanceofStockUnderAwardPlansNet`	$1.76M	USD	1 Quarter
Net (cash paid) proceeds from issuance of common stock under stock plans	`PaymentsFromIssuanceofStockUnderAwardPlansNet`	$931.00K	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-55.94M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.76M	USD	1 Quarter
Net (Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-318.00K	USD	1 Quarter
Net (Decrease) Increase in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$985.00K	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.43M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.44M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.43M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.45M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.44M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$13.55M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.12M	USD	1 Quarter
Amortization of actuarial loss and prior service costs, tax benefits	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax`	$-68.00K	USD	1 Quarter
Amortization of actuarial loss and prior service costs, tax benefits	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax`	$-63.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, tax benefit	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$-72.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, tax benefit	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$-239.00K	USD	1 Quarter
Amortization of actuarial losses and prior service costs, net of tax benefit of $63 and $68 for the three months ended April 1, 2017 and April 2, 2016, respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$140.00K	USD	1 Quarter
Amortization of actuarial losses and prior service costs, net of tax benefit of $63 and $68 for the three months ended April 1, 2017 and April 2, 2016, respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$123.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, net of tax of $72 and $239 for the three months ended April 1, 2017 and April 2, 2016, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-121.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, net of tax of $72 and $239 for the three months ended April 1, 2017 and April 2, 2016, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-408.00K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$19.00K	USD	1 Quarter
Other Comprehensive Income (Loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-285.00K	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$13.27M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$2.13M	USD	1 Quarter

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