$AZZ
AZZ INC

2014 Q3 Form 10-Q Financial Statement

#000000894714000142 Filed on October 01, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q3
Revenue $193.4M $189.8M
YoY Change 1.91% 23.73%
Cost Of Revenue $151.3M $133.9M
YoY Change 13.03% 21.63%
Gross Profit $42.10M $55.91M
YoY Change -24.69% 29.08%
Gross Profit Margin 21.77% 29.46%
Selling, General & Admin $19.14M $26.18M
YoY Change -26.87% 66.02%
% of Gross Profit 45.47% 46.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.90M $10.90M
YoY Change 9.17% 47.3%
% of Gross Profit 28.27% 19.5%
Operating Expenses $19.14M $26.18M
YoY Change -26.87% 66.02%
Operating Profit $22.96M $29.73M
YoY Change -22.78% -9.61%
Interest Expense $4.224M $4.651M
YoY Change -9.19% 44.1%
% of Operating Profit 18.4% 15.65%
Other Income/Expense, Net -$17.00K -$117.4K
YoY Change -85.52% -139.87%
Pretax Income $18.71M $25.82M
YoY Change -27.52% 4.98%
Income Tax $4.943M $9.454M
% Of Pretax Income 26.42% 36.62%
Net Earnings $13.77M $16.36M
YoY Change -15.85% 3.09%
Net Earnings / Revenue 7.12% 8.62%
Basic Earnings Per Share $0.54 $0.64
Diluted Earnings Per Share $0.53 $0.64
COMMON SHARES
Basic Shares Outstanding 25.66M shares 25.49M shares
Diluted Shares Outstanding 25.76M shares 25.66M shares

Balance Sheet

Concept 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.60M $42.00M
YoY Change -0.95% -38.86%
Cash & Equivalents $41.63M $41.98M
Short-Term Investments
Other Short-Term Assets $17.10M $19.10M
YoY Change -10.47% 43.61%
Inventory $115.1M $101.6M
Prepaid Expenses
Receivables $113.4M $131.9M
Other Receivables $28.60M $24.00M
Total Short-Term Assets $315.9M $318.7M
YoY Change -0.88% 21.77%
LONG-TERM ASSETS
Property, Plant & Equipment $196.2M $193.3M
YoY Change 1.5% 40.05%
Goodwill $282.6M $281.9M
YoY Change 0.24%
Intangibles $175.2M $190.0M
YoY Change -7.8%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $653.9M $670.5M
YoY Change -2.47% 74.11%
TOTAL ASSETS
Total Short-Term Assets $315.9M $318.7M
Total Long-Term Assets $653.9M $670.5M
Total Assets $969.8M $989.2M
YoY Change -1.96% 52.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $49.73M $42.89M
YoY Change 15.95% 53.73%
Accrued Expenses $34.90M $34.70M
YoY Change 0.58% 32.95%
Deferred Revenue
YoY Change
Short-Term Debt $22.70M $18.00M
YoY Change 26.11% 25.87%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $156.3M $139.0M
YoY Change 12.44% 47.72%
LONG-TERM LIABILITIES
Long-Term Debt $371.7M $434.5M
YoY Change -14.44% 121.21%
Other Long-Term Liabilities $0.00 $9.000M
YoY Change -100.0% 5.88%
Total Long-Term Liabilities $371.7M $434.5M
YoY Change -14.44% 112.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $156.3M $139.0M
Total Long-Term Liabilities $371.7M $434.5M
Total Liabilities $528.0M $573.5M
YoY Change -7.92% 73.25%
SHAREHOLDERS EQUITY
Retained Earnings $360.9M $317.9M
YoY Change 13.54%
Common Stock $50.72M $45.94M
YoY Change 10.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $403.0M $358.3M
YoY Change
Total Liabilities & Shareholders Equity $969.8M $983.8M
YoY Change -1.43% 52.11%

Cashflow Statement

Concept 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $13.77M $16.36M
YoY Change -15.85% 3.09%
Depreciation, Depletion And Amortization $11.90M $10.90M
YoY Change 9.17% 47.3%
Cash From Operating Activities $41.70M $15.30M
YoY Change 172.55% 9.29%
INVESTING ACTIVITIES
Capital Expenditures -$5.600M -$12.20M
YoY Change -54.1% 34.07%
Acquisitions
YoY Change
Other Investing Activities -$10.40M $1.800M
YoY Change -677.78% -102.63%
Cash From Investing Activities -$16.10M -$10.50M
YoY Change 53.33% -86.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.600M -4.400M
YoY Change 118.18% -36.23%
NET CHANGE
Cash From Operating Activities 41.70M 15.30M
Cash From Investing Activities -16.10M -10.50M
Cash From Financing Activities -9.600M -4.400M
Net Change In Cash 16.00M 400.0K
YoY Change 3900.0% -100.57%
FREE CASH FLOW
Cash From Operating Activities $41.70M $15.30M
Capital Expenditures -$5.600M -$12.20M
Free Cash Flow $47.30M $27.50M
YoY Change 72.0% 19.05%

Facts In Submission

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CY2014Q1 us-gaap Other Liabilities Current
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17155430 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
5880539 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
17098214 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9120723 USD
CY2014Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
0 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3710598 USD
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-117439 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
13661 USD
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-17388 USD
us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
30787 USD
CY2014Q3 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
26034 USD
CY2013Q3 us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-677260 USD
us-gaap Other Nonrecurring Income Expense
OtherNonrecurringIncomeExpense
-4481507 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
7180832 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
7134272 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
10500000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
275702030 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
23847378 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11462291 USD
CY2014Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
9884798 USD
CY2014Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
8951962 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
75000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
197000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
10891193 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
65502 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
888278 USD
CY2014Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1029000 USD
CY2014Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1338000 USD
CY2014Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1627000 USD
CY2014Q3 us-gaap Product Warranty Expense
ProductWarrantyExpense
149000 USD
CY2014Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
597000 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
196170466 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
197639229 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-68758 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-63469 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
5000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
15000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15223214 USD
CY2014Q2 azz Product Warranty Additions Charged To Income
ProductWarrantyAdditionsChargedToIncome
288000 USD
CY2014Q3 azz Product Warranty Additions Charged To Income
ProductWarrantyAdditionsChargedToIncome
747000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
193415643 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
189782229 USD
us-gaap Sales Revenue Net
SalesRevenueNet
409542035 USD
CY2014Q3 us-gaap Restructuring Charges
RestructuringCharges
-2986016 USD
CY2014Q2 us-gaap Restructuring Reserve
RestructuringReserve
3952366 USD
CY2014Q3 us-gaap Restructuring Reserve
RestructuringReserve
966000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
360912825 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
339399556 USD
us-gaap Sales Revenue Net
SalesRevenueNet
372956848 USD
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
19143533 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
52865428 USD
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
26178490 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
46684819 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2512547 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2638404 USD
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1500000 shares
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
1048701 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
-278391 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2638404 USD
CY2014Q3 us-gaap Stockholders Equity
StockholdersEquity
402966649 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
375913262 USD
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25664108 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25758174 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25664720 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25748947 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25639952 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25475869 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25656945 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25487796 shares
CY2014Q3 azz Corporate Income Expense Net
CorporateIncomeExpenseNet
3181915 USD
CY2013Q3 azz Corporate Income Expense Net
CorporateIncomeExpenseNet
11160702 USD
azz Corporate Income Expense Net
CorporateIncomeExpenseNet
22305386 USD
azz Corporate Income Expense Net
CorporateIncomeExpenseNet
15287764 USD
azz Number Of Share Based Compensation Plans
NumberOfShareBasedCompensationPlans
1 share_based_compensation_plan
dei Document Period End Date
DocumentPeriodEndDate
2014-08-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000008947
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
25668404 shares
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
AZZ INC

Files In Submission

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0000008947-14-000142-index-headers.html Edgar Link pending
0000008947-14-000142-index.html Edgar Link pending
0000008947-14-000142.txt Edgar Link pending
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azz-20140831.xml Edgar Link completed
azz-20140831.xsd Edgar Link pending
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azz-20140831_def.xml Edgar Link unprocessable
azz-20140831_lab.xml Edgar Link unprocessable
azz-20140831_pre.xml Edgar Link unprocessable
azz201483110q.htm Edgar Link pending
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ex3122014831.htm Edgar Link pending
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