$CIX
COMPX INTERNATIONAL INC

2012 Q3 Form 10-Q Financial Statement

#000119312512454870 Filed on November 06, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $21.30M $20.10M
YoY Change 5.97% -43.76%
Cost Of Revenue $14.97M $27.20M
YoY Change -44.96% 4.46%
Gross Profit $6.300M $6.000M
YoY Change 5.0% -38.14%
Gross Profit Margin 29.58% 29.85%
Selling, General & Admin $4.270M $5.745M
YoY Change -25.67% -2.63%
% of Gross Profit 67.78% 95.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.450M $1.840M
YoY Change -21.2% -5.64%
% of Gross Profit 23.02% 30.67%
Operating Expenses $4.270M $5.745M
YoY Change -25.67% -2.63%
Operating Profit $1.600M $700.0K
YoY Change 128.57% -81.58%
Interest Expense $114.0K $218.0K
YoY Change -47.71% -183.85%
% of Operating Profit 7.13% 31.14%
Other Income/Expense, Net $8.000K $127.0K
YoY Change -93.7% 5.83%
Pretax Income $1.521M $1.388M
YoY Change 9.58% -53.73%
Income Tax $637.0K $302.0K
% Of Pretax Income 41.88% 21.76%
Net Earnings $2.600M $1.100M
YoY Change 136.36% -34.13%
Net Earnings / Revenue 12.21% 5.47%
Basic Earnings Per Share
Diluted Earnings Per Share $210.7K $87.97K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.000M $8.500M
YoY Change -17.65% -20.56%
Cash & Equivalents $7.030M $8.533M
Short-Term Investments
Other Short-Term Assets $5.100M $3.700M
YoY Change 37.84% -7.5%
Inventory $19.25M $20.00M
Prepaid Expenses
Receivables $17.21M $16.60M
Other Receivables $0.00 $15.00M
Total Short-Term Assets $48.54M $63.80M
YoY Change -23.91% 27.09%
LONG-TERM ASSETS
Property, Plant & Equipment $51.42M $51.10M
YoY Change 0.63% -14.98%
Goodwill $34.46M
YoY Change
Intangibles $1.620M
YoY Change
Long-Term Investments
YoY Change
Other Assets $127.0K $6.800M
YoY Change -98.13% 183.33%
Total Long-Term Assets $42.45M $94.10M
YoY Change -54.89% -14.14%
TOTAL ASSETS
Total Short-Term Assets $48.54M $63.80M
Total Long-Term Assets $42.45M $94.10M
Total Assets $142.4M $157.9M
YoY Change -9.81% -1.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.201M $4.400M
YoY Change 18.2% 2.33%
Accrued Expenses $9.900M $10.50M
YoY Change -5.71% -4.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $5.800M
YoY Change -82.76% 625.0%
Total Short-Term Liabilities $17.06M $23.40M
YoY Change -27.11% 28.57%
LONG-TERM LIABILITIES
Long-Term Debt $21.52M $36.50M
YoY Change -41.05% -21.51%
Other Long-Term Liabilities $3.000K $800.0K
YoY Change -99.63%
Total Long-Term Liabilities $38.02M $37.30M
YoY Change 1.92% -19.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.06M $23.40M
Total Long-Term Liabilities $38.02M $37.30M
Total Liabilities $55.07M $73.40M
YoY Change -24.97% -3.8%
SHAREHOLDERS EQUITY
Retained Earnings $19.55M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $87.34M $84.50M
YoY Change
Total Liabilities & Shareholders Equity $142.4M $157.9M
YoY Change -9.81% -1.19%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $2.600M $1.100M
YoY Change 136.36% -34.13%
Depreciation, Depletion And Amortization $1.450M $1.840M
YoY Change -21.2% -5.64%
Cash From Operating Activities $4.870M $5.490M
YoY Change -11.29% 15.34%
INVESTING ACTIVITIES
Capital Expenditures -$960.0K -$500.0K
YoY Change 92.0% 92.31%
Acquisitions
YoY Change
Other Investing Activities $20.00K -$4.850M
YoY Change -100.41%
Cash From Investing Activities -$940.0K -$5.350M
YoY Change -82.43% 1957.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.060M 3.490M
YoY Change -159.03% -325.16%
NET CHANGE
Cash From Operating Activities 4.870M 5.490M
Cash From Investing Activities -940.0K -5.350M
Cash From Financing Activities -2.060M 3.490M
Net Change In Cash 1.870M 3.630M
YoY Change -48.48% 23.05%
FREE CASH FLOW
Cash From Operating Activities $4.870M $5.490M
Capital Expenditures -$960.0K -$500.0K
Free Cash Flow $5.830M $5.990M
YoY Change -2.67% 19.32%

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dei Document Type
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dei Trading Symbol
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dei Entity Registrant Name
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COMPX INTERNATIONAL INC
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3119000
us-gaap Sales Revenue Net
SalesRevenueNet
110239000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
546000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4646000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
3478000
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.375
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
778000
us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-742000
CY2011Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2118000
us-gaap Interest Expense
InterestExpense
441000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-1433000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
974000
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
388000
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
3766000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
48000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6430000
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Note 9 &#x2013; Recent Accounting Pronouncements:</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">In June 2011 the Financial Accounting Standards Board (&#x201C;FASB&#x201D;) issued Accounting Standard Update (&#x201C;ASU&#x201D;) 2011-05, <i>Presentation of Comprehensive Income</i>.&#xA0;ASU 2011-05 eliminates the option of presenting comprehensive income as a component of the Consolidated Statement of Stockholders&#x2019; Equity and instead requires comprehensive income to be presented as a component of the Consolidated Statement of Income or in a separate Consolidated Statement of Comprehensive Income immediately following the Consolidated Statement of Income.&#xA0;In accordance with ASU 2011-05, we now present our comprehensive income in a separate Condensed Consolidated Statement of Comprehensive Income. Additionally, ASU 2011-05 would have required us to present on the face of our financial statements the effect of reclassifications out of accumulative other comprehensive income on the components of net income and other comprehensive income. However, in December 2011 the FASB issued ASU 2011-12, <i>Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No.&#xA0;2011-05</i>. ASU 2011-12 defers the effective date for the requirement to present on the face of our financial statements the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income. Adoption of ASU 2011-05, as amended by ASU 2011-12, did not have a material effect on our Condensed Consolidated Financial Statements.</font></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">In December 2011 the FASB issued ASU 2011-11 <i>Disclosures about Offsetting Assets and Liabilities</i>.&#xA0;ASU 2011-11 requires entities to disclose both gross information and net information about both instruments and transactions eligible for offset in the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. This standard will be effective for annual and interim periods beginning with our first quarter 2013 report.&#xA0;We do not believe the adoption of this standard will have a material effect on our Consolidated Financial Statements.</font></p> </div>
cix Weighted Average Number Of Shares Outstanding Basic And Diluted1
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted1
12389000 shares
cix Net Cash Used In Provided By Operating Investing And Financing Activities
NetCashUsedInProvidedByOperatingInvestingAndFinancingActivities
-3097000
cix Incremental Tax On Equity In Earnings
IncrementalTaxOnEquityInEarnings
1478000
CY2011Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
127000
CY2011Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1135000
CY2011Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.09
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
1388000
CY2011Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-704000
CY2011Q3 us-gaap Gross Profit
GrossProfit
8534000
CY2011Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1032000
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1479000
CY2011Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-1414000
CY2011Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
5745000
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
302000
CY2011Q3 us-gaap Sales Revenue Net
SalesRevenueNet
35736000
CY2011Q3 us-gaap Restructuring Charges
RestructuringCharges
175000
CY2011Q3 cix Weighted Average Number Of Shares Outstanding Basic And Diluted1
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted1
12386000 shares
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8000
CY2012Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
405000
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.21
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4214000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
4345000
CY2012Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
843000
CY2012Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
26948000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
2609000
CY2012Q3 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
58000
CY2012Q3 us-gaap Gross Profit
GrossProfit
10162000
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3510000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6190000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1605000
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
37110000
CY2012Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.125
CY2012Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability
778000
CY2012Q3 us-gaap Interest Expense
InterestExpense
139000
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
901000
CY2012Q3 cix Weighted Average Number Of Shares Outstanding Basic And Diluted1
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted1
12392000 shares

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