2016 Q1 Form 10-K Financial Statement

#000093114816000108 Filed on March 07, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q3
Revenue $95.58M $118.4M $126.4M
YoY Change -53.88% -39566.67% -51.47%
Cost Of Revenue $97.01M $113.0M $115.3M
YoY Change -47.97% -1714.29% -52.52%
Gross Profit -$12.98M $5.400M $11.10M
YoY Change -162.49% -19.4% -37.09%
Gross Profit Margin -13.58% 4.56% 8.78%
Selling, General & Admin $13.79M $16.70M $31.40M
YoY Change -47.53% 198.21% 16.38%
% of Gross Profit 309.26% 282.88%
Research & Development $651.0K $900.0K $900.0K
YoY Change -73.22% -25.0% -68.65%
% of Gross Profit 16.67% 8.11%
Depreciation & Amortization $19.50M $18.00M $16.70M
YoY Change -5.34% -32.33% -37.22%
% of Gross Profit 333.33% 150.45%
Operating Expenses $14.45M $17.50M $32.30M
YoY Change -49.71% 157.35% 8.2%
Operating Profit -$27.42M -$12.10M -$21.20M
YoY Change -40.17% 12000.0% -8.03%
Interest Expense $6.460M -$6.700M $9.002M
YoY Change -27.59% -21.18% -0.74%
% of Operating Profit
Other Income/Expense, Net -$237.0K $1.500M -$1.000M
YoY Change -39.69% -250.0% -12.97%
Pretax Income -$34.11M -$17.40M -$34.40M
YoY Change -38.07% -143.28% 3.85%
Income Tax -$295.0K $5.800M $6.300M
% Of Pretax Income
Net Earnings -$36.38M -$26.20M -$49.50M
YoY Change -34.59% -68.62% 41.66%
Net Earnings / Revenue -38.06% -22.13% -39.16%
Basic Earnings Per Share
Diluted Earnings Per Share -$120.5K -$86.70K -$163.8K
COMMON SHARES
Basic Shares Outstanding 100.0 shares 1.000K shares 137.3M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.800M $7.000M $13.50M
YoY Change -10.91% -60.23% 12.5%
Cash & Equivalents $12.15M $6.927M $13.46M
Short-Term Investments $100.0K
Other Short-Term Assets $25.00M $2.040M $66.60M
YoY Change -64.54% -40.65% -24.23%
Inventory $282.3M $218.1M $322.3M
Prepaid Expenses $24.98M $21.16M $66.56M
Receivables $91.41M $82.39M $111.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $408.5M $426.9M $513.3M
YoY Change -32.0% -33.82% -24.66%
LONG-TERM ASSETS
Property, Plant & Equipment $637.0M $551.2M $650.3M
YoY Change 0.57% -15.73% 0.0%
Goodwill $173.1M $172.1M $170.0M
YoY Change -54.97% -59.05% -65.72%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $164.8M $152.6M $162.5M
YoY Change 78.43% 56.01% 54.71%
Total Long-Term Assets $992.1M $995.1M $996.7M
YoY Change -11.81% -16.29% -22.14%
TOTAL ASSETS
Total Short-Term Assets $408.5M $426.9M $513.3M
Total Long-Term Assets $992.1M $995.1M $996.7M
Total Assets $1.401B $1.422B $1.510B
YoY Change -18.84% -22.46% -23.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $47.25M $40.15M $61.99M
YoY Change -40.76% -53.54% -37.21%
Accrued Expenses $41.60M $26.90M $54.80M
YoY Change -29.85% -60.32% -22.05%
Deferred Revenue
YoY Change
Short-Term Debt $9.779M $4.772M $9.600M
YoY Change -94.89% -97.46% 739.16%
Long-Term Debt Due $9.779M $4.772M $9.600M
YoY Change -94.89% -97.46% 772.73%
Total Short-Term Liabilities $100.4M $96.12M $131.7M
YoY Change -70.39% -72.68% -28.01%
LONG-TERM LIABILITIES
Long-Term Debt $360.0M $362.5M $368.6M
YoY Change 7.05% 6.1% -31.68%
Other Long-Term Liabilities $94.85M $94.32M $89.64M
YoY Change -6.07% -12.32% -0.38%
Total Long-Term Liabilities $454.9M $456.8M $458.2M
YoY Change 4.02% 1.69% -27.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $100.4M $96.12M $131.7M
Total Long-Term Liabilities $454.9M $456.8M $458.2M
Total Liabilities $555.3M $552.9M $589.9M
YoY Change -28.48% -30.98% -27.39%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $786.8M $810.5M $1.020B
YoY Change
Total Liabilities & Shareholders Equity $1.401B $1.422B $1.510B
YoY Change -18.84% -22.46% -23.02%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q3
OPERATING ACTIVITIES
Net Income -$36.38M -$26.20M -$49.50M
YoY Change -34.59% -68.62% 41.66%
Depreciation, Depletion And Amortization $19.50M $18.00M $16.70M
YoY Change -5.34% -32.33% -37.22%
Cash From Operating Activities $9.724M $19.20M $8.000M
YoY Change -57.2% -49.47% -70.37%
INVESTING ACTIVITIES
Capital Expenditures $8.414M -$13.20M -$11.90M
YoY Change -38.14% -15.92% -47.81%
Acquisitions
YoY Change
Other Investing Activities $200.0K $300.0K $200.0K
YoY Change -102.82% -200.0% -81.82%
Cash From Investing Activities -$8.263M -$12.90M -$11.70M
YoY Change -60.05% -19.38% -46.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $34.00K
YoY Change 3.03%
Cash From Financing Activities $967.0K -12.40M 3.400M
YoY Change -113.11% -16.78% -123.78%
NET CHANGE
Cash From Operating Activities $9.724M 19.20M 8.000M
Cash From Investing Activities -$8.263M -12.90M -11.70M
Cash From Financing Activities $967.0K -12.40M 3.400M
Net Change In Cash $2.428M -6.100M -300.0K
YoY Change -145.48% -185.92% -96.67%
FREE CASH FLOW
Cash From Operating Activities $9.724M $19.20M $8.000M
Capital Expenditures $8.414M -$13.20M -$11.90M
Free Cash Flow $1.310M $32.40M $19.90M
YoY Change -85.63% -39.66% -60.04%

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300000 USD
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900000 USD
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800000 USD
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600000 USD
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4600000 USD
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4400000 USD
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WeightedAverageNumberOfDilutedSharesOutstanding
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135067278 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2015 us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Discussion of Business and Structure</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:57px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">GrafTech International Ltd. is one of the world&#8217;s largest manufacturers and providers of high quality synthetic and natural graphite and carbon based products. References herein to &#8220;GTI,&#8221; &#8220;we,&#8221; &#8220;our,&#8221; or &#8220;us&#8221; refer collectively to GrafTech International Ltd. and its subsidiaries. We have seven major product categories: graphite electrodes, refractory products, needle coke products, advanced graphite materials, advanced composite materials, advanced electronics technologies, and advanced materials, which are reported in the following segments:</font></div><div style="line-height:120%;text-align:justify;text-indent:57px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:84px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:60px;"><font style="font-family:Arial;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Industrial Materials</font><font style="font-family:Arial;font-size:10pt;"> includes graphite electrodes, refractory products and needle coke products, and primarily serves the steel industry.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:84px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:60px;"><font style="font-family:Arial;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Engineered Solutions</font><font style="font-family:Arial;font-size:10pt;"> includes advanced graphite materials, advanced composite materials, advanced electronics technologies, and advanced materials and provides primary and specialty products to the advanced electronics, industrial, energy, transportation and defense markets.</font></div></td></tr></table></div>
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:57px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses. Significant estimates and assumptions are used for, but are not limited to, pension and other post-retirement benefits, allowance for doubtful accounts, accruals and valuation allowances, asset impairment, and environmental-related accruals. Actual results could differ from our estimates.</font></div></div>

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