$AZZ
AZZ INC

2012 Q4 Form 10-Q Financial Statement

#000000894713000004 Filed on January 09, 2013

View on sec.gov

Income Statement

Concept 2012 Q4 2011 Q4
Revenue $149.7M $116.5M
YoY Change 28.48% 13.21%
Cost Of Revenue $104.7M $85.69M
YoY Change 22.16% 13.79%
Gross Profit $45.00M $30.81M
YoY Change 46.08% 11.62%
Gross Profit Margin 30.07% 26.45%
Selling, General & Admin $17.89M $11.32M
YoY Change 58.08% 3.85%
% of Gross Profit 39.76% 36.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.900M $5.600M
YoY Change 41.07% -5.08%
% of Gross Profit 17.55% 18.18%
Operating Expenses $17.89M $11.32M
YoY Change 58.08% 3.85%
Operating Profit $33.40M $24.27M
YoY Change 37.6% 45.35%
Interest Expense $3.234M $3.519M
YoY Change -8.09% -295.5%
% of Operating Profit 9.68% 14.5%
Other Income/Expense, Net $453.9K $192.6K
YoY Change 135.68%
Pretax Income $24.17M $16.17M
YoY Change 49.5% 6.37%
Income Tax $8.807M $6.147M
% Of Pretax Income 36.44% 38.02%
Net Earnings $15.36M $10.02M
YoY Change 53.32% 3.31%
Net Earnings / Revenue 10.26% 8.6%
Basic Earnings Per Share $0.61 $0.40
Diluted Earnings Per Share $0.60 $0.40
COMMON SHARES
Basic Shares Outstanding 25.36M shares 25.16M shares
Diluted Shares Outstanding 25.60M shares 25.37M shares

Balance Sheet

Concept 2012 Q4 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.50M $160.1M
YoY Change -69.08% 2289.55%
Cash & Equivalents $49.51M $160.1M
Short-Term Investments
Other Short-Term Assets $11.80M $8.800M
YoY Change 34.09% -12.0%
Inventory $84.10M $64.70M
Prepaid Expenses
Receivables $94.40M $65.50M
Other Receivables $12.30M $14.00M
Total Short-Term Assets $252.1M $313.0M
YoY Change -19.45% 104.44%
LONG-TERM ASSETS
Property, Plant & Equipment $152.0M $127.1M
YoY Change 19.6% 1.76%
Goodwill $166.6M
YoY Change
Intangibles $103.7M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $422.3M $280.7M
YoY Change 50.46% -0.07%
TOTAL ASSETS
Total Short-Term Assets $252.1M $313.0M
Total Long-Term Assets $422.3M $280.7M
Total Assets $674.5M $593.7M
YoY Change 13.6% 36.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.58M $24.30M
YoY Change 25.83% 11.47%
Accrued Expenses $30.80M $24.00M
YoY Change 28.33% 2.13%
Deferred Revenue
YoY Change
Short-Term Debt $14.30M $14.30M
YoY Change 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $109.5M $74.90M
YoY Change 46.19% 37.43%
LONG-TERM LIABILITIES
Long-Term Debt $196.4M $210.7M
YoY Change -6.77% 110.7%
Other Long-Term Liabilities $8.700M
YoY Change
Total Long-Term Liabilities $196.4M $210.7M
YoY Change -6.77% 110.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $109.5M $74.90M
Total Long-Term Liabilities $196.4M $210.7M
Total Liabilities $305.9M $315.8M
YoY Change -3.13% 70.61%
SHAREHOLDERS EQUITY
Retained Earnings $284.4M
YoY Change
Common Stock $42.67M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00 $174.3K
YoY Change -100.0%
Treasury Stock Shares 0.000 shares
Shareholders Equity $327.4M $277.9M
YoY Change
Total Liabilities & Shareholders Equity $674.5M $593.7M
YoY Change 13.6% 36.8%

Cashflow Statement

Concept 2012 Q4 2011 Q4
OPERATING ACTIVITIES
Net Income $15.36M $10.02M
YoY Change 53.32% 3.31%
Depreciation, Depletion And Amortization $7.900M $5.600M
YoY Change 41.07% -5.08%
Cash From Operating Activities $36.40M $19.80M
YoY Change 83.84% 13.14%
INVESTING ACTIVITIES
Capital Expenditures -$7.000M -$5.800M
YoY Change 20.69% 5.45%
Acquisitions
YoY Change
Other Investing Activities -$45.50M $0.00
YoY Change
Cash From Investing Activities -$52.50M -$5.800M
YoY Change 805.17% 5.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.100M -3.200M
YoY Change -3.12% -77.46%
NET CHANGE
Cash From Operating Activities 36.40M 19.80M
Cash From Investing Activities -52.50M -5.800M
Cash From Financing Activities -3.100M -3.200M
Net Change In Cash -19.20M 10.80M
YoY Change -277.78% -590.91%
FREE CASH FLOW
Cash From Operating Activities $36.40M $19.80M
Capital Expenditures -$7.000M -$5.800M
Free Cash Flow $43.40M $25.60M
YoY Change 69.53% 11.3%

Facts In Submission

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-40678 USD
CY2012Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-13560 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-40678 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
21903 USD
CY2012Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
7301 USD
CY2011Q4 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
7301 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax
21903 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-979384 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-549443 USD
CY2011Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-492051 USD
CY2012Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1009165 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1020062 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-590121 USD
CY2012Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1022725 USD
CY2011Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-505611 USD
CY2012Q4 us-gaap Other General Expense
OtherGeneralExpense
5721000 USD
CY2011Q4 us-gaap Other General Expense
OtherGeneralExpense
4662000 USD
us-gaap Other General Expense
OtherGeneralExpense
15778000 USD
us-gaap Other General Expense
OtherGeneralExpense
17795000 USD
CY2012Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
18049283 USD
CY2012Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
21856992 USD
CY2011Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
192569 USD
CY2012Q4 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
275000 USD
CY2011Q4 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-75000 USD
us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-5733000 USD
us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-340000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
9870423 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
9420167 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
100000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
122632180 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19628014 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16344083 USD
CY2012Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
4780366 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
284412072 USD
CY2012Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
247059938 USD
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
116492703 USD
us-gaap Sales Revenue Net
SalesRevenueNet
430202771 USD
CY2012Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
2811858 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8658020 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
273521 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
15781 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
48 USD
CY2012Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1518000 USD
CY2012Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1670000 USD
CY2012Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1301000 USD
CY2012Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1271000 USD
CY2012Q4 us-gaap Product Warranty Expense
ProductWarrantyExpense
470000 USD
CY2012Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
754000 USD
CY2012Q3 us-gaap Product Warranty Expense
ProductWarrantyExpense
368000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
152005729 USD
CY2012Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
135826703 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
472560 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
129338 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
18135866 USD
us-gaap Sales Revenue Net
SalesRevenueNet
345486904 USD
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
149674616 USD
CY2012Q4 us-gaap Segment Reporting Information Net Assets
SegmentReportingInformationNetAssets
674465000 USD
CY2011Q4 us-gaap Segment Reporting Information Net Assets
SegmentReportingInformationNetAssets
593666000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
49019008 USD
CY2011Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11320064 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
36109841 USD
CY2012Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17894549 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2696083 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2816827 USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5000000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
7488 shares
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
917253 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-413379 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2816827 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
15781 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
327368640 USD
CY2012Q1 us-gaap Stockholders Equity
StockholdersEquity
287608765 USD
dei Document Period End Date
DocumentPeriodEndDate
2012-11-30
dei Document Type
DocumentType
10-Q
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2012Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
53090 shares
CY2012Q1 us-gaap Treasury Stock Value
TreasuryStockValue
174278 USD
CY2012Q4 azz Gain Loss On Sale Of Property Plant And Equipment And Insurance Proceeds
GainLossOnSaleOfPropertyPlantAndEquipmentAndInsuranceProceeds
-157065 USD
CY2012Q1 azz Long Term Accrued Liabilities Due After One Year
LongTermAccruedLiabilitiesDueAfterOneYear
0 USD
CY2012Q4 azz Long Term Accrued Liabilities Due After One Year
LongTermAccruedLiabilitiesDueAfterOneYear
8748481 USD
azz Number Of Share Based Compensation Plans
NumberOfShareBasedCompensationPlans
2 share_based_compensation_plan
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25339660 shares
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25374284 shares
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25602862 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25537257 shares
CY2012Q4 azz Product Warranty Additions Charged To Income
ProductWarrantyAdditionsChargedToIncome
253000 USD
CY2012Q3 azz Product Warranty Additions Charged To Income
ProductWarrantyAdditionsChargedToIncome
615000 USD
CY2012Q2 azz Product Warranty Additions Charged To Income
ProductWarrantyAdditionsChargedToIncome
355000 USD
azz Stock Issued For Stock Appreciation Rights
StockIssuedForStockAppreciationRights
1191919 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25301207 shares
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25362450 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25120596 shares
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25163452 shares
CY2012Q4 azz Business Acquisition Amount Of Certain Liabilities And Payoff Of Notes Payable
BusinessAcquisitionAmountOfCertainLiabilitiesAndPayoffOfNotesPayable
3800000 USD
CY2012Q4 azz Business Acquisition Amount Of Maximum Additional Payment Under Purchase Agreement
BusinessAcquisitionAmountOfMaximumAdditionalPaymentUnderPurchaseAgreement
20000000 USD
azz Corporate Income Expense Net
CorporateIncomeExpenseNet
25891000 USD
CY2012Q4 azz Corporate Income Expense Net
CorporateIncomeExpenseNet
9230000 USD
azz Corporate Income Expense Net
CorporateIncomeExpenseNet
21864000 USD
CY2011Q4 azz Corporate Income Expense Net
CorporateIncomeExpenseNet
8106000 USD
CY2012Q4 azz Fair Value Of Business Acquisition Earn Out
FairValueOfBusinessAcquisitionEarnOut
8700000 USD
azz Gain Loss On Sale Of Property Plant And Equipment And Insurance Proceeds
GainLossOnSaleOfPropertyPlantAndEquipmentAndInsuranceProceeds
5794623 USD
CY2011Q4 azz Gain Loss On Sale Of Property Plant And Equipment And Insurance Proceeds
GainLossOnSaleOfPropertyPlantAndEquipmentAndInsuranceProceeds
7101 USD
azz Gain Loss On Sale Of Property Plant And Equipment And Insurance Proceeds
GainLossOnSaleOfPropertyPlantAndEquipmentAndInsuranceProceeds
-163777 USD
dei Entity Central Index Key
EntityCentralIndexKey
0000008947
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
25376967 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
AZZ INC

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