$DORM
Dorman Products, Inc.

2013 Q4 Form 10-Q Financial Statement

#000119312513422243 Filed on November 01, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $169.8M $178.0M $156.4M
YoY Change 25.77% 13.77% 19.76%
Cost Of Revenue $103.7M $108.2M $96.67M
YoY Change 24.64% 11.98% 17.88%
Gross Profit $66.10M $69.70M $59.75M
YoY Change 27.61% 16.67% 22.93%
Gross Profit Margin 38.93% 39.17% 38.2%
Selling, General & Admin $34.50M $34.03M $28.62M
YoY Change 19.38% 18.94% 13.55%
% of Gross Profit 52.19% 48.83% 47.89%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.800M $2.700M $2.000M
YoY Change 27.27% 35.0% 0.0%
% of Gross Profit 4.24% 3.87% 3.35%
Operating Expenses $34.50M $34.03M $28.62M
YoY Change 19.79% 18.94% 13.55%
Operating Profit $31.61M $35.67M $31.13M
YoY Change 37.63% 14.58% 33.04%
Interest Expense $0.00 $47.00K $38.00K
YoY Change 23.68%
% of Operating Profit 0.0% 0.13% 0.12%
Other Income/Expense, Net
YoY Change
Pretax Income $31.60M $35.62M $31.09M
YoY Change 37.99% 14.57% 32.88%
Income Tax $10.90M $12.74M $11.34M
% Of Pretax Income 34.49% 35.75% 36.46%
Net Earnings $20.62M $22.89M $20.34M
YoY Change 34.76% 12.51% 76.89%
Net Earnings / Revenue 12.14% 12.86% 13.01%
Basic Earnings Per Share $0.63 $0.56
Diluted Earnings Per Share $0.56 $0.62 $0.56
COMMON SHARES
Basic Shares Outstanding 36.48M shares 36.36M shares 36.24M shares
Diluted Shares Outstanding 36.63M shares 36.62M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.60M $48.30M $66.10M
YoY Change 118.77% -26.93% 44.96%
Cash & Equivalents $60.59M $48.34M $66.07M
Short-Term Investments
Other Short-Term Assets $26.70M $22.90M $22.40M
YoY Change 16.59% 2.23% 33.33%
Inventory $160.4M $149.1M $134.3M
Prepaid Expenses
Receivables $180.8M $178.7M $140.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $428.4M $399.0M $363.3M
YoY Change 27.48% 9.83% 24.21%
LONG-TERM ASSETS
Property, Plant & Equipment $64.79M $58.72M $47.40M
YoY Change 32.87% 23.88% 25.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.888M $1.734M $1.400M
YoY Change 345.05% 23.86% 40.0%
Total Long-Term Assets $100.8M $90.57M $75.40M
YoY Change 31.49% 20.11% 15.64%
TOTAL ASSETS
Total Short-Term Assets $428.4M $399.0M $363.3M
Total Long-Term Assets $100.8M $90.57M $75.40M
Total Assets $529.2M $489.6M $438.7M
YoY Change 28.23% 11.6% 22.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.26M $49.14M $38.70M
YoY Change 44.51% 26.97% 26.47%
Accrued Expenses $18.70M $20.61M $13.00M
YoY Change 63.28% 58.52% -8.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $91.74M $77.79M $51.70M
YoY Change 44.05% 50.46% 15.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.310M $5.779M $3.100M
YoY Change 54.05% 86.42% -18.42%
Total Long-Term Liabilities $5.310M $5.779M $3.100M
YoY Change 54.05% 86.42% -18.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $91.74M $77.79M $51.70M
Total Long-Term Liabilities $5.310M $5.779M $3.100M
Total Liabilities $97.05M $83.57M $66.30M
YoY Change 44.56% 26.05% 14.9%
SHAREHOLDERS EQUITY
Retained Earnings $370.2M $350.3M
YoY Change 26.98%
Common Stock $365.0K $365.0K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $413.6M $393.6M $372.3M
YoY Change
Total Liabilities & Shareholders Equity $529.2M $489.6M $438.7M
YoY Change 28.23% 11.6% 22.64%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $20.62M $22.89M $20.34M
YoY Change 34.76% 12.51% 76.89%
Depreciation, Depletion And Amortization $2.800M $2.700M $2.000M
YoY Change 27.27% 35.0% 0.0%
Cash From Operating Activities $24.80M $15.50M $5.200M
YoY Change 22.17% 198.08% -54.78%
INVESTING ACTIVITIES
Capital Expenditures -$11.80M -$5.800M -$4.900M
YoY Change 218.92% 18.37% 8.89%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities -$11.80M -$5.800M -$4.900M
YoY Change 218.92% 18.37% 8.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -700.0K -1.100M 500.0K
YoY Change -98.73% -320.0% 400.0%
NET CHANGE
Cash From Operating Activities 24.80M 15.50M 5.200M
Cash From Investing Activities -11.80M -5.800M -4.900M
Cash From Financing Activities -700.0K -1.100M 500.0K
Net Change In Cash 12.30M 8.600M 800.0K
YoY Change -132.03% 975.0% -88.73%
FREE CASH FLOW
Cash From Operating Activities $24.80M $15.50M $5.200M
Capital Expenditures -$11.80M -$5.800M -$4.900M
Free Cash Flow $36.60M $21.30M $10.10M
YoY Change 52.5% 110.89% -36.88%

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dei Trading Symbol
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dei Entity Registrant Name
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Dorman Products, Inc.
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2017-12-31
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36343000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y4M24D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
89000 shares
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
31325000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
256000
us-gaap Operating Income Loss
OperatingIncomeLoss
96332000
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
1897000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
36750 shares
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
543000
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
61301000
us-gaap Gross Profit
GrossProfit
194883000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
61301000
us-gaap Interest Paid
InterestPaid
150000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
96184000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
38623000
us-gaap Net Income Loss
NetIncomeLoss
61301000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3722000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
382000 shares
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.54
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12949000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
7668000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1368000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
299774000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
236000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2900000
us-gaap Share Based Compensation
ShareBasedCompensation
769000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
101000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
20627000
us-gaap Interest Expense
InterestExpense
148000
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14846000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
503000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7417000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
800000
us-gaap Proceeds From Sale Of Other Receivables
ProceedsFromSaleOfOtherReceivables
296500000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
119000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
2493000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
98551000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
34883000
dorm Other Stock Related Activity
OtherStockRelatedActivity
793000
dorm Purchase And Cancellation Of Common Stock
PurchaseAndCancellationOfCommonStock
2664000
dorm Stock Repurchased And Retired During Period Average Cost Per Share
StockRepurchasedAndRetiredDuringPeriodAverageCostPerShare
42.84
dorm Maximum Grant Period From Date Of Plan Approval
MaximumGrantPeriodFromDateOfPlanApproval
P10Y
dorm Date Of Plan Approval
DateOfPlanApproval
2009-05-20
dorm Percentage Of Forfeiture Assumption In Calculation Of Compensation Cost
PercentageOfForfeitureAssumptionInCalculationOfCompensationCost
0.054 pure
CY2012 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
70208 shares
CY2012 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
6400000
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1500000
CY2012 dorm Stock Repurchased And Retired During Period Average Cost Per Share
StockRepurchasedAndRetiredDuringPeriodAverageCostPerShare
27.68
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36622000 shares
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36240000 shares
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.02
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.02
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.54
CY2012Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
16000
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
20342000
CY2012Q3 us-gaap Gross Profit
GrossProfit
59746000
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
586000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
31131000
CY2012Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
19756000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
31093000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
20342000
CY2012Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
12000
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
156411000
CY2012Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
96665000
CY2012Q3 us-gaap Interest Expense
InterestExpense
38000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
28615000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11337000
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36632000 shares
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
270000 shares
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.63
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36362000 shares
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.62
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
22887000
CY2013Q3 us-gaap Gross Profit
GrossProfit
69704000
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
35670000
CY2013Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
22887000
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
35623000
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
22887000
CY2013Q3 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
177953000
CY2013Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
108249000
CY2013Q3 us-gaap Interest Expense
InterestExpense
47000
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
34034000
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12736000

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