10-Q Filing

DUCOMMUN INC /DE/ CIK: 30305 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001628280-18-006573`
Period End Date	20180331
Filing Date	20180510
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	dco-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 28 Cash Flow Statement 60 Comprehensive Income 14

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$725.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$868.00K	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$147.09M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$143.22M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.15M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $725 and $868 at March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$64.92M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $725 and $868 at March 31, 2018 and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$74.06M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	-	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	11.38M	shares	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$78.16M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	11.33M	shares	Point-in-time
Common Stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	11.38M	shares	Point-in-time
Common Stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	11.33M	shares	Point-in-time
Inventories	`InventoryNet`	$85.93M	USD	Point-in-time
Inventories	`InventoryNet`	$122.16M	USD	Point-in-time
Production cost of contracts	`ProductionCostOfContractsCurrent`	$11.20M	USD	Point-in-time
Production cost of contracts	`ProductionCostOfContractsCurrent`	$11.18M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.44M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$12.50M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$221.01M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$254.49M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $147,086 and $143,216 at March 31, 2018 and December 31, 2017, respectively	`PropertyPlantAndEquipmentNet`	$110.03M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $147,086 and $143,216 at March 31, 2018 and December 31, 2017, respectively	`PropertyPlantAndEquipmentNet`	$110.25M	USD	Point-in-time
Goodwill	`Goodwill`	$117.44M	USD	Point-in-time
Goodwill	`Goodwill`	$117.44M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$114.69M	USD	Point-in-time
Intangibles, net	`IntangibleAssetsNetExcludingGoodwill`	$112.15M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$147.00K	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$261.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.10M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$3.31M	USD	Point-in-time
Total Assets	`Assets`	$597.57M	USD	Point-in-time
Total Assets	`Assets`	$566.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$51.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$65.04M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	-	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$15.72M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$28.33M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$22.47M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$103.23M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$80.24M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$216.06M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$209.71M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.78M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.98M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$21.54M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$18.90M	USD	Point-in-time
Total Liabilities	`Liabilities`	$331.17M	USD	Point-in-time
Total Liabilities	`Liabilities`	$350.26M	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; 11,380,982 and 11,332,841 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$113.00K	USD	Point-in-time
Common stock - $0.01 par value; 35,000,000 shares authorized; 11,380,982 and 11,332,841 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$114.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$80.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$80.22M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$173.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$161.36M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.98M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-6.12M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$235.58M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$247.31M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$566.75M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$597.57M	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`	$150.46M	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$123.70M	USD	1 Quarter
Cost of Sales	`CostOfGoodsSold`	$111.29M	USD	1 Quarter
Gross Profit	`GrossProfit`	$26.75M	USD	1 Quarter
Gross Profit	`GrossProfit`	$25.00M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$20.75M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$19.33M	USD	1 Quarter
Restructuring Charges	`RestructuringCharges`	-	USD	1 Quarter
Restructuring Charges	`RestructuringCharges`	$2.17M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$4.25M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$5.26M	USD	1 Quarter
Interest Expense	`InterestIncomeExpenseNet`	$-1.75M	USD	1 Quarter
Interest Expense	`InterestIncomeExpenseNet`	$-2.90M	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.36M	USD	1 Quarter
Income Before Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.51M	USD	1 Quarter
Income Tax (Benefit) Expense	`IncomeTaxExpenseBenefit`	$-243.00K	USD	1 Quarter
Income Tax (Benefit) Expense	`IncomeTaxExpenseBenefit`	$392.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.12M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.60M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.35M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	11.21M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.61M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.49M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$2.12M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.78M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.98M	USD	1 Quarter
Property and equipment impairment due to restructuring	`ProductionRelatedImpairmentsOrCharges`	-	USD	1 Quarter
Property and equipment impairment due to restructuring	`ProductionRelatedImpairmentsOrCharges`	$1.08M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.82M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.09M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-206.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$532.00K	USD	1 Quarter
(Recovery of) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-143.00K	USD	1 Quarter
(Recovery of) provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$26.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$1.86M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-8.81M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-9.29M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.59M	USD	1 Quarter
Contract assets	`IncreaseDecreaseinContractwithCustomerAsset`	$78.16M	USD	1 Quarter
Contract assets	`IncreaseDecreaseinContractwithCustomerAsset`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.30M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-36.23M	USD	1 Quarter
Production cost of contracts	`IncreaseDecreaseinProductionCostofContract`	$55.00K	USD	1 Quarter
Production cost of contracts	`IncreaseDecreaseinProductionCostofContract`	$-45.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-610.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-412.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.21M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$6.46M	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseinContractwithCustomerLiability`	$15.72M	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseinContractwithCustomerLiability`	-	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$415.00K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-4.52M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$10.34M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$13.24M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.34M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.80M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$41.00K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.30M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.79M	USD	1 Quarter
Borrowings from senior secured revolving credit facility	`ProceedsFromSecuredLinesOfCredit`	$76.70M	USD	1 Quarter
Borrowings from senior secured revolving credit facility	`ProceedsFromSecuredLinesOfCredit`	$55.60M	USD	1 Quarter
Repayments of senior secured revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$55.60M	USD	1 Quarter
Repayments of senior secured revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$83.30M	USD	1 Quarter
Repayments of term loan	`RepaymentsOfUnsecuredDebt`	$5.00M	USD	1 Quarter
Repayments of term loan	`RepaymentsOfUnsecuredDebt`	-	USD	1 Quarter
Repayments of other debt	`RepaymentsOfDebt`	-	USD	1 Quarter
Repayments of other debt	`RepaymentsOfDebt`	$3.00K	USD	1 Quarter
Net cash paid upon issuance of common stock under stock plans	`PaymentsFromIssuanceofStockUnderAwardPlansNet`	$1.76M	USD	1 Quarter
Net cash paid upon issuance of common stock under stock plans	`PaymentsFromIssuanceofStockUnderAwardPlansNet`	$789.00K	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.76M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.39M	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-353.00K	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-318.00K	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.80M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.43M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.15M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.80M	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`	$2.15M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashAndCashEquivalentsAtCarryingValue`	$7.11M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$2.12M	USD	1 Quarter
Amortization of actuarial losses and prior service costs, tax benefits	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax`	$45.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.60M	USD	1 Quarter
Amortization of actuarial losses 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`	$-61.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, tax benefit	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax`	$-72.00K	USD	1 Quarter
Amortization of actuarial losses and prior service costs, net of tax benefit of $45 and $63 for the three months ended March 31, 2018 and April 1, 2017, respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$140.00K	USD	1 Quarter
Amortization of actuarial losses and prior service costs, net of tax benefit of $45 and $63 for the three months ended March 31, 2018 and April 1, 2017, respectively	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$141.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, net of tax of $61 and $72 for the three months ended March 31, 2018 and April 1, 2017, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$-121.00K	USD	1 Quarter
Change in unrealized gains and losses on cash flow hedges, net of tax of $61 and $72 for the three months ended March 31, 2018 and April 1, 2017, respectively	`OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax`	$194.00K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$19.00K	USD	1 Quarter
Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTax`	$335.00K	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$2.13M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$2.94M	USD	1 Quarter

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