$AZZ
AZZ INC

2013 Q3 Form 10-Q Financial Statement

#000000894713000156 Filed on October 02, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q3
Revenue $189.8M $153.4M
YoY Change 23.73% 33.77%
Cost Of Revenue $133.9M $110.1M
YoY Change 21.63% 30.57%
Gross Profit $55.91M $43.31M
YoY Change 29.08% 42.57%
Gross Profit Margin 29.46% 28.24%
Selling, General & Admin $26.18M $15.77M
YoY Change 66.02% 34.77%
% of Gross Profit 46.83% 36.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.90M $7.400M
YoY Change 47.3% 34.55%
% of Gross Profit 19.5% 17.09%
Operating Expenses $26.18M $15.77M
YoY Change 66.02% 34.77%
Operating Profit $29.73M $32.89M
YoY Change -9.61% 76.06%
Interest Expense $4.651M $3.228M
YoY Change 44.1% -192.23%
% of Operating Profit 15.65% 9.81%
Other Income/Expense, Net -$117.4K $294.5K
YoY Change -139.87%
Pretax Income $25.82M $24.59M
YoY Change 4.98% 57.65%
Income Tax $9.454M $8.720M
% Of Pretax Income 36.62% 35.46%
Net Earnings $16.36M $15.87M
YoY Change 3.09% 65.24%
Net Earnings / Revenue 8.62% 10.35%
Basic Earnings Per Share $0.64 $0.63
Diluted Earnings Per Share $0.64 $0.62
COMMON SHARES
Basic Shares Outstanding 25.49M shares 25.30M shares
Diluted Shares Outstanding 25.66M shares 25.51M shares

Balance Sheet

Concept 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.00M $68.70M
YoY Change -38.86% -53.92%
Cash & Equivalents $41.98M $68.72M
Short-Term Investments
Other Short-Term Assets $19.10M $13.30M
YoY Change 43.61% 31.68%
Inventory $101.6M $78.40M
Prepaid Expenses
Receivables $131.9M $92.00M
Other Receivables $24.00M $9.300M
Total Short-Term Assets $318.7M $261.7M
YoY Change 21.77% -13.37%
LONG-TERM ASSETS
Property, Plant & Equipment $193.3M $138.0M
YoY Change 40.05% 9.52%
Goodwill $281.9M
YoY Change
Intangibles $190.0M
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $670.5M $385.1M
YoY Change 74.11% 37.0%
TOTAL ASSETS
Total Short-Term Assets $318.7M $261.7M
Total Long-Term Assets $670.5M $385.1M
Total Assets $989.2M $646.8M
YoY Change 52.93% 10.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.89M $27.90M
YoY Change 53.73% 10.71%
Accrued Expenses $34.70M $26.10M
YoY Change 32.95% 17.04%
Deferred Revenue
YoY Change
Short-Term Debt $18.00M $14.30M
YoY Change 25.87% 0.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $139.0M $94.10M
YoY Change 47.72% 26.82%
LONG-TERM LIABILITIES
Long-Term Debt $434.5M $196.4M
YoY Change 121.21% -6.79%
Other Long-Term Liabilities $9.000M $8.500M
YoY Change 5.88%
Total Long-Term Liabilities $434.5M $204.9M
YoY Change 112.03% -2.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $139.0M $94.10M
Total Long-Term Liabilities $434.5M $204.9M
Total Liabilities $573.5M $331.0M
YoY Change 73.25% 5.95%
SHAREHOLDERS EQUITY
Retained Earnings $317.9M
YoY Change
Common Stock $45.94M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $358.3M $315.8M
YoY Change
Total Liabilities & Shareholders Equity $983.8M $646.8M
YoY Change 52.11% 10.91%

Cashflow Statement

Concept 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $16.36M $15.87M
YoY Change 3.09% 65.24%
Depreciation, Depletion And Amortization $10.90M $7.400M
YoY Change 47.3% 34.55%
Cash From Operating Activities $15.30M $14.00M
YoY Change 9.29% -19.08%
INVESTING ACTIVITIES
Capital Expenditures -$12.20M -$9.100M
YoY Change 34.07% 56.9%
Acquisitions
YoY Change
Other Investing Activities $1.800M -$68.50M
YoY Change -102.63% -34350.0%
Cash From Investing Activities -$10.50M -$77.60M
YoY Change -86.47% 1261.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.400M -6.900M
YoY Change -36.23% 137.93%
NET CHANGE
Cash From Operating Activities 15.30M 14.00M
Cash From Investing Activities -10.50M -77.60M
Cash From Financing Activities -4.400M -6.900M
Net Change In Cash 400.0K -70.50M
YoY Change -100.57% -910.34%
FREE CASH FLOW
Cash From Operating Activities $15.30M $14.00M
Capital Expenditures -$12.20M -$9.100M
Free Cash Flow $27.50M $23.10M
YoY Change 19.05% 0.0%

Facts In Submission

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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2265837 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2662 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1732915 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2013Q3 us-gaap Other General Expense
OtherGeneralExpense
7187000 USD
us-gaap Other General Expense
OtherGeneralExpense
12074000 USD
us-gaap Other General Expense
OtherGeneralExpense
17658000 USD
CY2012Q3 us-gaap Other General Expense
OtherGeneralExpense
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CY2013Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
20284954 USD
CY2013Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
14811126 USD
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
294530 USD
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2013Q3 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-677000 USD
CY2012Q3 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-275000 USD
us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
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us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-282000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5880539 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
7134272 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
6318886 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
77044293 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
275702030 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12561636 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
294092945 USD
us-gaap Sales Revenue Net
SalesRevenueNet
280528155 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
75000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
197000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
888278 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
8496630 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
15781 USD
CY2013Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1848000 USD
CY2013Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
2073000 USD
CY2013Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1660000 USD
CY2012Q3 us-gaap Product Warranty Expense
ProductWarrantyExpense
595000 USD
CY2013Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
657000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
193265390 USD
CY2013Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
154476220 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-68758 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
349165 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
15000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
18135866 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15223214 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
317868225 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
189782229 USD
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
153385291 USD
us-gaap Sales Revenue Net
SalesRevenueNet
372956848 USD
CY2012Q3 us-gaap Segment Reporting Information Net Assets
SegmentReportingInformationNetAssets
646783000 USD
CY2013Q3 us-gaap Segment Reporting Information Net Assets
SegmentReportingInformationNetAssets
983816000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31124459 USD
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15768242 USD
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
26178490 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
52865428 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2512547 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2434487 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5000000 shares
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
333934474 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
358325618 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25481187 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25664108 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25664720 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25508543 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25270585 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25487796 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25297220 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25475869 shares
CY2012Q3 azz Corporate Income Expense Net
CorporateIncomeExpenseNet
8295000 USD
azz Corporate Income Expense Net
CorporateIncomeExpenseNet
12634000 USD
CY2013Q3 azz Corporate Income Expense Net
CorporateIncomeExpenseNet
11161000 USD
azz Corporate Income Expense Net
CorporateIncomeExpenseNet
26505000 USD
azz Gain Loss On Sale Of Property Plant And Equipment And Insurance Proceeds
GainLossOnSaleOfPropertyPlantAndEquipmentAndInsuranceProceeds
882917 USD
CY2013Q3 azz Gain Loss On Sale Of Property Plant And Equipment And Insurance Proceeds
GainLossOnSaleOfPropertyPlantAndEquipmentAndInsuranceProceeds
859576 USD
azz Gain Loss On Sale Of Property Plant And Equipment And Insurance Proceeds
GainLossOnSaleOfPropertyPlantAndEquipmentAndInsuranceProceeds
5951688 USD
CY2012Q3 azz Gain Loss On Sale Of Property Plant And Equipment And Insurance Proceeds
GainLossOnSaleOfPropertyPlantAndEquipmentAndInsuranceProceeds
-17393 USD
CY2013Q1 azz Long Term Accrued Liabilities Due After One Year
LongTermAccruedLiabilitiesDueAfterOneYear
8539278 USD
CY2013Q3 azz Long Term Accrued Liabilities Due After One Year
LongTermAccruedLiabilitiesDueAfterOneYear
8988155 USD
azz Number Of Share Based Compensation Plans
NumberOfShareBasedCompensationPlans
1 share_based_compensation_plan
CY2012Q3 azz Product Warranty Additions Charged To Income
ProductWarrantyAdditionsChargedToIncome
407000 USD
CY2013Q2 azz Product Warranty Additions Charged To Income
ProductWarrantyAdditionsChargedToIncome
432000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2013-08-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000008947
CY2013Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
25499124 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
AZZ INC

Files In Submission

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