2015 Q1 Form 10-K Financial Statement

#000119312515069887 Filed on February 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2013 Q4 2013 Q3
Revenue $105.5M $89.68M
YoY Change 56.42% 30.16%
Cost Of Revenue $80.30M $65.90M
YoY Change 60.92% 26.28%
Gross Profit $25.17M $23.79M
YoY Change 43.43% 42.28%
Gross Profit Margin 23.87% 26.52%
Selling, General & Admin $14.30M $11.43M
YoY Change 48.96% 26.16%
% of Gross Profit 56.81% 48.07%
Research & Development $12.40M
YoY Change -3.13%
% of Gross Profit 52.13%
Depreciation & Amortization $4.510M $3.080M
YoY Change 131.28% 44.6%
% of Gross Profit 17.92% 12.95%
Operating Expenses $14.20M $23.83M
YoY Change 47.92% 9.02%
Operating Profit $10.97M $12.35M
YoY Change 38.01% 61.36%
Interest Expense -$2.000M -$1.600M
YoY Change 900.0% 433.33%
% of Operating Profit -18.23% -12.95%
Other Income/Expense, Net
YoY Change
Pretax Income $8.902M $10.75M
YoY Change 15.76% 45.6%
Income Tax $2.500M $3.592M
% Of Pretax Income 28.08% 33.42%
Net Earnings $6.389M $7.155M
YoY Change 12.98% 45.13%
Net Earnings / Revenue 6.06% 7.98%
Basic Earnings Per Share $0.30 $0.34
Diluted Earnings Per Share $0.29 $0.32
COMMON SHARES
Basic Shares Outstanding 21.96M shares 17.54M shares 20.95M shares
Diluted Shares Outstanding 22.06M shares

Balance Sheet

Concept 2015 Q1 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.60M $68.20M
YoY Change 637.84% 797.37%
Cash & Equivalents $54.64M $68.19M
Short-Term Investments
Other Short-Term Assets $6.088M $7.869M
YoY Change -6.81% 29.0%
Inventory $85.27M $67.26M
Prepaid Expenses $4.264M
Receivables $60.94M $48.59M
Other Receivables $0.00 $0.00
Total Short-Term Assets $211.2M $191.9M
YoY Change 95.54% 78.18%
LONG-TERM ASSETS
Property, Plant & Equipment $70.90M $59.60M
YoY Change 32.43% 22.14%
Goodwill $101.0M $92.62M
YoY Change 360.69%
Intangibles $102.7M $83.09M
YoY Change 521.56%
Long-Term Investments
YoY Change
Other Assets $5.474M $5.608M
YoY Change 83.88% -52.87%
Total Long-Term Assets $280.1M $240.9M
YoY Change 169.36% 141.65%
TOTAL ASSETS
Total Short-Term Assets $211.2M $191.9M
Total Long-Term Assets $280.1M $240.9M
Total Assets $491.3M $432.8M
YoY Change 131.74% 108.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.26M $16.71M
YoY Change 138.43% 17.65%
Accrued Expenses $24.67M $16.92M
YoY Change 57.78% 16.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $12.28M $10.59M
YoY Change 32.49% 27.6%
Total Short-Term Liabilities $85.24M $56.46M
YoY Change 77.7% 18.12%
LONG-TERM LIABILITIES
Long-Term Debt $188.0M $188.1M
YoY Change 807.75% 649.31%
Other Long-Term Liabilities $7.704M $18.06M
YoY Change 163.02% 6.86%
Total Long-Term Liabilities $195.7M $206.1M
YoY Change 727.88% 390.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $85.24M $56.46M
Total Long-Term Liabilities $195.7M $206.1M
Total Liabilities $319.8M $284.6M
YoY Change 268.16% 216.92%
SHAREHOLDERS EQUITY
Retained Earnings $134.1M
YoY Change 25.47%
Common Stock $41.01M $175.0K
YoY Change 78.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $171.5M $148.2M
YoY Change
Total Liabilities & Shareholders Equity $491.3M $432.8M
YoY Change 131.74% 108.69%

Cashflow Statement

Concept 2015 Q1 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $6.389M $7.155M
YoY Change 12.98% 45.13%
Depreciation, Depletion And Amortization $4.510M $3.080M
YoY Change 131.28% 44.6%
Cash From Operating Activities $15.40M $16.83M
YoY Change 118.75% 105.75%
INVESTING ACTIVITIES
Capital Expenditures -$2.040M -$1.160M
YoY Change -66.83% -80.89%
Acquisitions
YoY Change
Other Investing Activities -$23.94M -$135.9M
YoY Change 59750.0% 1179.66%
Cash From Investing Activities -$25.98M -$137.1M
YoY Change 319.71% 721.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.060M 171.9M
YoY Change 194.23% 2072.95%
NET CHANGE
Cash From Operating Activities 15.40M 16.83M
Cash From Investing Activities -25.98M -137.1M
Cash From Financing Activities -3.060M 171.9M
Net Change In Cash -13.64M 51.65M
YoY Change 7078.95% -8708.33%
FREE CASH FLOW
Cash From Operating Activities $15.40M $16.83M
Capital Expenditures -$2.040M -$1.160M
Free Cash Flow $17.44M $17.99M
YoY Change 32.22% 26.25%

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2796000
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5100000
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2579000
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2725000
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2300000
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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293000
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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21197000
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4757000
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7762000
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7960000
CY2014Q4 us-gaap Goodwill
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116695000
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10008000
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CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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54609000
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2470000
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23473000
CY2014Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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0
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
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12918000
CY2014Q4 us-gaap Buildings And Improvements Gross
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74755000
CY2014Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards General Business
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1028000
CY2014Q4 us-gaap Accounts Receivable Gross Current
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89181000
CY2014Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax
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13223000
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7559000
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28763000
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162582000
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48331000
CY2014Q4 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
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1606000
CY2014Q4 us-gaap Assets
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562910000
CY2014Q4 us-gaap Business Acquisition Cost Of Acquired Entity Transaction Costs
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300000
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CY2014Q4 us-gaap Deferred Tax Assets Net
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20339000
CY2014Q4 us-gaap Deferred Tax Assets Net Current
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7762000
CY2014Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax
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3100000
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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4400000
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8691000
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CY2014Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2014Q4 us-gaap Tax Credit Carryforward Amount
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1400000
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87575000
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CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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8595000
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8895000
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9148000
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
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94991000
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73062000
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5632000
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CY2014Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
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CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
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2853000
CY2014Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax
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4800000
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4628000
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200000
CY2014Q4 atro Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Tax
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1700000
CY2014Q4 atro Inventory Valuation Reserves As Percentage Of Gross Inventory
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0.096 pure
CY2014Q4 atro Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Tax
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2700000
CY2014Q4 atro Deferred Tax Assets Customer Advanced Payments And Deferred Revenue
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1795000
CY2014Q4 atro Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Restated Intrinsic Value
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78846000
CY2014Q4 atro Goodwill Impairment Number Of Reporting Units Tested For Impairment
GoodwillImpairmentNumberOfReportingUnitsTestedForImpairment
7 Reporting_Unit
CY2014Q4 atro Capital Lease Assets Basis Difference
CapitalLeaseAssetsBasisDifference
1935000
CY2013Q3 atro Interest Rate On Revolving Credit Line And Term Loan At Libor Rate
InterestRateOnRevolvingCreditLineAndTermLoanAtLiborRate
Interest rate ranging from 225 basis points to 350 basis points above LIBOR, depending on the Company's leverage ratio
CY2014Q4 atro Number Of Reportable Units
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7 Reporting_Unit
CY2014Q1 atro Percentage Of Funded Status Of Pension Plans
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0.907 pure
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1.24
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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3.54
CY2013 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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1050000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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19.35
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
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0.286 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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49549000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.00 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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-0.001 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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83664 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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5.17
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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22031000 shares
CY2013 us-gaap Earnings Per Share Basic
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1.30
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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35.56
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
0.030 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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-0.050 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0.010 pure
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
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217462 shares
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20981000 shares
CY2013 us-gaap Product Warranty Accrual Warranties Issued
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722000
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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-131000
CY2013 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4094000
CY2013 us-gaap Gross Profit
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87858000
CY2013 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8025000
CY2013 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
339937000
CY2013 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
19498000
CY2013 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6868000
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1172000
CY2013 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
112000
CY2013 us-gaap Increase Decrease In Inventories
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5222000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
38211000
CY2013 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
159761000
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Tax
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-38000
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
42305000
CY2013 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
28438000
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
38211000
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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955000
CY2013 us-gaap Product Warranty Accrual Preexisting Increase Decrease
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-222000
CY2013 us-gaap Payments Of Debt Issuance Costs
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2288000
CY2013 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
81000
CY2013 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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2000
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-663000
CY2013 us-gaap Repayments Of Notes Payable
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7000000
CY2013 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
671000
CY2013 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
578000
CY2013 us-gaap Net Income Loss
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27266000
CY2013 us-gaap Interest Paid
InterestPaid
3543000
CY2013 us-gaap Increase Decrease In Accounts Receivable
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-3493000
CY2013 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
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2000
CY2013 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
73000
CY2013 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-380000
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1384000
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-722000
CY2013 us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
1200000
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11059000
CY2013 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
82000
CY2013 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2013 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
1198000
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
52800000
CY2013 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
45553000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
1000000
CY2013 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-39000
CY2013 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1198000
CY2013 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
2271000
CY2013 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
926000
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4900000
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
47255000
CY2013 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10945000
CY2013 us-gaap Multiemployer Plans Plan Contributions
MultiemployerPlansPlanContributions
300000
CY2013 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2400000
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
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-109000
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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-71000
CY2013 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
38000
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
10904000
CY2013 us-gaap Cost Of Goods Sold
CostOfGoodsSold
252079000
CY2013 us-gaap Depreciation
Depreciation
5700000
CY2013 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-80000
CY2013 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
79155000
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
164334000
CY2013 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
682000
CY2013 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2013 us-gaap Increase Decrease In Accrued Liabilities
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3559000
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-166710000
CY2013 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
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-1230000
CY2013 us-gaap Proceeds From Stock Options Exercised
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1922000
CY2013 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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1272000
CY2013 us-gaap Current Foreign Tax Expense Benefit
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81000
CY2013 us-gaap Increase Decrease In Accounts Payable
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5831000
CY2013 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
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-188000
CY2013 us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
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-359000
CY2013 us-gaap Share Based Compensation
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1384000
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8472000
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
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190000000
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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-145000
CY2013 atro Effective Income Tax Rate Reconciliation Nondeductible Acquisition Cost
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0.010 pure
CY2013 atro Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Shares Issued Value
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13473000
CY2013 atro Pretax Income From Foreign Subsidiary
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200000
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-1893000
CY2013 atro Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
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581000
CY2013 atro Provision For Non Cash Losses On Inventory And Receivables
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216000
CY2013 atro Revenue Recognized From Long Term Fixed Price Contracts
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4400000
CY2014 us-gaap Earnings Per Share Diluted
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2.48
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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4.80
CY2014 dei Document Type
DocumentType
10-K
CY2014 dei Entity Registrant Name
EntityRegistrantName
ASTRONICS CORP
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2014 dei Trading Symbol
TradingSymbol
ATRO
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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949000 shares
CY2014 us-gaap Number Of Reporting Units
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10 Reporting_Unit
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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25.59
CY2014 dei Entity Filer Category
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Large Accelerated Filer
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.290 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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-0.017 pure
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y6M
CY2014 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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99874000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.00 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
3577 shares
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.026 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.001 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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The Company warrants its products against defects in design, materials and workmanship typically over periods ranging from twelve to sixty months
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with U.S. generally accepted accounting principles (&#x201C;U.S. GAAP&#x201D;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities and the reported amounts of revenues and expenses during the reporting periods in the financial statements and accompanying notes. Actual results could differ from those estimates.</p> </div>
CY2014 dei Document Period End Date
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2014-12-31
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8.11
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15.13
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2014
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22662000 shares
CY2014 us-gaap Business Acquisition Description Of Acquired Entity
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Armstrong, located in Itasca, Illinois, is a leading provider of engineering, design and certification solutions for commercial aircraft, specializing in connectivity, in-flight entertainment, and electrical power systems.
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2.59
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FY
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0.006 pure
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2 Segment
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487001 shares
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21713000 shares
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3431000
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661039000
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47832000
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2000
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4000
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200000
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4300000
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P5Y
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500000
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5800000
CY2014 atro Interest Rate On Revolving Credit Line And Term Loan At Libor Rate
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506000
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2015
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These state net operating loss carryforwards amount to approximately $23.3 million and expire at various dates from 2028 through 2034.
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500000
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200000 shares
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183000
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31583000
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6905000
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9000
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1252000
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669000
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971000
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2300000
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0
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9709000
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3200000
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61000
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10000000
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11173000
CY2012 us-gaap Cost Of Goods Sold
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197004000
CY2012 us-gaap Depreciation
Depreciation
4400000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-341000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
78000
CY2012 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2012 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3365000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-27379000
CY2012 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
4194000
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1714000
CY2012 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1215000
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
2000
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-14000
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-537000
CY2012 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
-76000
CY2012 us-gaap Increase Decrease In Deferred Revenue And Customer Advances And Deposits
IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
6490000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
1351000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4168000
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
220000
CY2012 atro Pretax Income From Foreign Subsidiary
PretaxIncomeFromForeignSubsidiary
1000000
CY2012 atro Other Comprehensive Income Pension Liability Net Adjustment Before Tax
OtherComprehensiveIncomePensionLiabilityNetAdjustmentBeforeTax
6451000
CY2012 atro Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
129000
CY2012 atro Provision For Non Cash Losses On Inventory And Receivables
ProvisionForNonCashLossesOnInventoryAndReceivables
1632000
CY2012 atro Revenue Recognized From Long Term Fixed Price Contracts
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4200000
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2014Q1 us-gaap Earnings Per Share Basic
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CY2014Q1 us-gaap Gross Profit
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30005000
CY2014Q1 us-gaap Sales Revenue Goods Net
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140951000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
11304000
CY2014Q1 us-gaap Net Income Loss
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7507000
CY2013Q1 us-gaap Earnings Per Share Diluted
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0.39
CY2013Q1 us-gaap Earnings Per Share Basic
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CY2014Q3 us-gaap Earnings Per Share Diluted
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CY2013Q4 us-gaap Gross Profit
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CY2014Q3 us-gaap Earnings Per Share Basic
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0.79
CY2013Q4 us-gaap Sales Revenue Goods Net
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105456000
CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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8902000
CY2013Q4 us-gaap Net Income Loss
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6389000
CY2013Q1 us-gaap Gross Profit
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CY2013Q1 us-gaap Sales Revenue Goods Net
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73967000
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CY2013Q1 us-gaap Net Income Loss
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CY2013Q3 us-gaap Earnings Per Share Diluted
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0.32
CY2013Q3 us-gaap Earnings Per Share Basic
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CY2013Q3 us-gaap Gross Profit
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CY2013Q3 us-gaap Sales Revenue Goods Net
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CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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10747000
CY2013Q3 us-gaap Net Income Loss
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7155000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2014Q2 us-gaap Earnings Per Share Basic
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CY2014Q2 us-gaap Gross Profit
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43202000
CY2014Q2 us-gaap Sales Revenue Goods Net
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174563000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
19922000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
13144000
CY2014Q3 us-gaap Gross Profit
GrossProfit
51310000
CY2014Q3 us-gaap Sales Revenue Goods Net
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179442000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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23470000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
17080000
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2013Q4 us-gaap Earnings Per Share Basic
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CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2013Q2 us-gaap Earnings Per Share Basic
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0.25
CY2013Q2 us-gaap Gross Profit
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18681000
CY2013Q2 us-gaap Sales Revenue Goods Net
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70833000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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7718000
CY2013Q2 us-gaap Net Income Loss
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5158000
CY2014Q4 us-gaap Earnings Per Share Diluted
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CY2014Q4 us-gaap Earnings Per Share Basic
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CY2014Q4 us-gaap Gross Profit
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42525000
CY2014Q4 us-gaap Sales Revenue Goods Net
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166083000
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
24411000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
18439000

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