2010 Q3 Form 10-Q Financial Statement
#000095012310066905 Filed on July 21, 2010
Income Statement
Concept | 2010 Q3 | 2010 Q2 | 2009 Q2 |
---|---|---|---|
Revenue | $190.0M | $192.1M | $147.7M |
YoY Change | 28.96% | 30.04% | -38.25% |
Cost Of Revenue | $85.41M | $90.17M | $74.70M |
YoY Change | 23.48% | 20.7% | -32.39% |
Gross Profit | $104.6M | $101.9M | $73.01M |
YoY Change | 33.81% | 39.6% | -43.32% |
Gross Profit Margin | 55.04% | 53.06% | 49.43% |
Selling, General & Admin | $51.87M | $53.24M | $44.78M |
YoY Change | 20.07% | 18.89% | -15.03% |
% of Gross Profit | 49.61% | 52.24% | 61.34% |
Research & Development | $9.263M | $9.472M | $9.781M |
YoY Change | 5.84% | -3.16% | 8.68% |
% of Gross Profit | 8.86% | 9.29% | 13.4% |
Depreciation & Amortization | $8.200M | $8.700M | $8.500M |
YoY Change | -10.87% | 2.35% | 2.41% |
% of Gross Profit | 7.84% | 8.54% | 11.64% |
Operating Expenses | $61.14M | $62.71M | $54.56M |
YoY Change | 17.67% | 14.94% | -11.57% |
Operating Profit | $43.42M | $39.21M | $18.45M |
YoY Change | 65.82% | 112.56% | -72.51% |
Interest Expense | $1.038M | $1.041M | $1.221M |
YoY Change | -9.58% | -14.74% | -164.26% |
% of Operating Profit | 2.39% | 2.66% | 6.62% |
Other Income/Expense, Net | -$254.0K | $268.0K | -$91.00K |
YoY Change | 25.12% | -394.51% | -9.0% |
Pretax Income | $42.13M | $38.44M | $17.13M |
YoY Change | 69.64% | 124.33% | -73.68% |
Income Tax | $11.70M | $13.60M | $5.500M |
% Of Pretax Income | 27.77% | 35.38% | 32.1% |
Net Earnings | $30.40M | $24.80M | $11.60M |
YoY Change | 75.72% | 113.79% | -72.71% |
Net Earnings / Revenue | 16.0% | 12.91% | 7.85% |
Basic Earnings Per Share | $0.51 | $0.41 | $0.19 |
Diluted Earnings Per Share | $0.50 | $0.41 | $0.19 |
COMMON SHARES | |||
Basic Shares Outstanding | 60.25M shares | 60.60M shares | |
Diluted Shares Outstanding | 60.62M shares | 61.18M shares |
Balance Sheet
Concept | 2010 Q3 | 2010 Q2 | 2009 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $9.700M | $4.900M | $13.90M |
YoY Change | 90.2% | -64.75% | 183.67% |
Cash & Equivalents | $9.666M | $4.878M | $13.91M |
Short-Term Investments | |||
Other Short-Term Assets | $2.636M | $3.535M | $25.90M |
YoY Change | -89.24% | -86.35% | -12.79% |
Inventory | $85.34M | $76.20M | $68.50M |
Prepaid Expenses | |||
Receivables | $135.6M | $138.3M | $112.4M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $253.7M | $243.3M | $220.8M |
YoY Change | 28.77% | 10.19% | -24.77% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $132.3M | $133.8M | $147.6M |
YoY Change | -7.21% | -9.34% | 2.86% |
Goodwill | $91.74M | $91.74M | |
YoY Change | |||
Intangibles | $31.27M | $34.23M | |
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $8.516M | $8.273M | $28.00M |
YoY Change | -62.32% | -70.45% | -30.35% |
Total Long-Term Assets | $273.5M | $279.8M | $313.7M |
YoY Change | -8.87% | -10.8% | -3.18% |
TOTAL ASSETS | |||
Total Short-Term Assets | $253.7M | $243.3M | $220.8M |
Total Long-Term Assets | $273.5M | $279.8M | $313.7M |
Total Assets | $527.1M | $523.1M | $534.5M |
YoY Change | 6.04% | -2.13% | -13.44% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $24.87M | $33.78M | $15.50M |
YoY Change | 48.92% | 117.94% | -49.35% |
Accrued Expenses | $47.90M | $40.30M | $31.00M |
YoY Change | 46.93% | 30.0% | -16.89% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $11.10M | $13.60M | $14.70M |
YoY Change | -20.14% | -7.48% | -24.23% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $123.3M | $126.4M | $103.3M |
YoY Change | 16.88% | 22.34% | -16.36% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $90.00M | $80.00M | $143.9M |
YoY Change | -16.2% | -44.41% | -23.82% |
Other Long-Term Liabilities | $66.00M | $77.70M | $113.8M |
YoY Change | -33.93% | -31.72% | 164.65% |
Total Long-Term Liabilities | $90.00M | $80.00M | $257.7M |
YoY Change | -56.58% | -68.96% | 11.13% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $123.3M | $126.4M | $103.3M |
Total Long-Term Liabilities | $90.00M | $80.00M | $257.7M |
Total Liabilities | $213.3M | $206.4M | $361.1M |
YoY Change | -31.78% | -42.85% | -3.5% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $30.04M | $23.89M | |
YoY Change | |||
Common Stock | $265.2M | $264.0M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $247.9M | $239.1M | $173.4M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $527.1M | $523.1M | $534.5M |
YoY Change | 6.04% | -2.13% | -13.44% |
Cashflow Statement
Concept | 2010 Q3 | 2010 Q2 | 2009 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $30.40M | $24.80M | $11.60M |
YoY Change | 75.72% | 113.79% | -72.71% |
Depreciation, Depletion And Amortization | $8.200M | $8.700M | $8.500M |
YoY Change | -10.87% | 2.35% | 2.41% |
Cash From Operating Activities | $34.40M | $12.00M | $41.80M |
YoY Change | -15.48% | -71.29% | 80.95% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$3.700M | -$3.100M | -$3.500M |
YoY Change | 516.67% | -11.43% | -57.83% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $100.0K | -$1.500M | -$1.600M |
YoY Change | 0.0% | -6.25% | |
Cash From Investing Activities | -$3.600M | -$4.600M | -$5.100M |
YoY Change | 620.0% | -9.8% | -38.55% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -25.20M | -14.40M | -36.60M |
YoY Change | -47.72% | -60.66% | 119.16% |
NET CHANGE | |||
Cash From Operating Activities | 34.40M | 12.00M | 41.80M |
Cash From Investing Activities | -3.600M | -4.600M | -5.100M |
Cash From Financing Activities | -25.20M | -14.40M | -36.60M |
Net Change In Cash | 5.600M | -7.000M | 100.0K |
YoY Change | -170.0% | -7100.0% | -105.26% |
FREE CASH FLOW | |||
Cash From Operating Activities | $34.40M | $12.00M | $41.80M |
Capital Expenditures | -$3.700M | -$3.100M | -$3.500M |
Free Cash Flow | $38.10M | $15.10M | $45.30M |
YoY Change | -7.75% | -66.67% | 44.27% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2010-06-25 | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Graco Inc. | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000042888 | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
Yes | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
Yes | ||
CY2010Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
60248000 | shares |
CY2009Q2 | dei |
Entity Public Float
EntityPublicFloat
|
1300000000 | USD |
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2010 | ||
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
285592000 | USD | |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
356809000 | USD | |
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
165594000 | USD | |
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
148256000 | USD | |
us-gaap |
Gross Profit
GrossProfit
|
191215000 | USD | |
us-gaap |
Gross Profit
GrossProfit
|
137336000 | USD | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
18946000 | USD | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
19832000 | USD | |
us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
61807000 | USD | |
us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
60225000 | USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
38547000 | USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
32704000 | USD | |
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Operating Income Loss
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|
24575000 | USD | |
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Operating Income Loss
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|
71915000 | USD | |
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Interest Expense
InterestExpense
|
2121000 | USD | |
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Interest Expense
InterestExpense
|
2587000 | USD | |
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Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
107000 | USD | |
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Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-686000 | USD | |
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Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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|
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Income Tax Expense Benefit
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|
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Income Tax Expense Benefit
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|
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Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
45401000 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
14402000 | USD | |
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Earnings Per Share Basic
EarningsPerShareBasic
|
0.75 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.24 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.74 | ||
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Earnings Per Share Diluted
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|
0.24 | ||
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Common Stock Dividends Per Share Declared
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|
0.40 | ||
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Common Stock Dividends Per Share Declared
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|
0.38 | ||
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Selling And Marketing Expense
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|
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|
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Income Tax Expense Benefit
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|
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Earnings Per Share Basic
EarningsPerShareBasic
|
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Earnings Per Share Diluted
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|
0.41 | USD |
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Operating Income Loss
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|
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Interest Expense
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|
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Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
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Common Stock Dividends Per Share Declared
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|
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Sales Revenue Net
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Interest Expense
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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Income Tax Expense Benefit
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|
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Earnings Per Share Basic
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|
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Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.19 | USD |
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Common Stock Dividends Per Share Declared
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|
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Research And Development Expense
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General And Administrative Expense
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Gross Profit
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Cash And Cash Equivalents At Carrying Value
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Receivables Net Current
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|
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Inventory Net
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Goodwill
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Allowances For Doubtful Accounts And Sales
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Cash And Cash Equivalents At Carrying Value
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Inventory Net
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Property Plant And Equipment Gross
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Property Plant And Equipment Net
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Goodwill
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Intangible Assets Net Excluding Goodwill
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|
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Deferred Tax Assets Net Noncurrent
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|
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Other Assets Noncurrent
OtherAssetsNoncurrent
|
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CY2010Q2 | us-gaap |
Assets
Assets
|
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CY2010Q2 | us-gaap |
Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
|
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Accounts Payable Current
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|
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Dividends Payable Current
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|
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CY2010Q2 | us-gaap |
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|
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CY2010Q2 | us-gaap |
Liabilities Current
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CY2010Q2 | us-gaap |
Long Term Debt Noncurrent
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|
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CY2010Q2 | us-gaap |
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Liability For Uncertain Tax Positions Noncurrent
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CY2010Q2 | us-gaap |
Common Stock Value
CommonStockValue
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CY2010Q2 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
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CY2010Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
23892000 | USD |
CY2010Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
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|
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CY2010Q2 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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|
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Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
523123000 | USD |
CY2010Q2 | ggg |
Allowances For Doubtful Accounts And Sales
AllowancesForDoubtfulAccountsAndSales
|
6400000 | USD |
CY2010Q2 | ggg |
Accrued Salaries Incentives
AccruedSalariesIncentives
|
21611000 | USD |
CY2009Q4 | ggg |
Accrued Salaries Incentives
AccruedSalariesIncentives
|
14428000 | USD |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
17319000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
16953000 | USD | |
us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
-5247000 | USD | |
us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
-696000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5127000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5209000 | USD | |
us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
900000 | USD | |
us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
300000 | USD | |
us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
40392000 | USD | |
us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-15370000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
17742000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-22691000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
9552000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-3218000 | USD | |
us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
7624000 | USD | |
us-gaap |
Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
|
-6015000 | USD | |
us-gaap |
Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
|
4996000 | USD | |
us-gaap |
Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
|
7215000 | USD | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
1287000 | USD | |
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
-2135000 | USD | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-1020000 | USD | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-16000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
28045000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
69492000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5932000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
9129000 | USD | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
193000 | USD | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
200000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-7501000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
123000 | USD | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
495000 | USD | |
us-gaap |
Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
|
1499000 | USD | |
us-gaap |
Payments For Proceeds From Life Insurance Policies
PaymentsForProceedsFromLifeInsurancePolicies
|
1499000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-10333000 | USD | |
us-gaap |
Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
|
3004000 | USD | |
us-gaap |
Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
|
-3621000 | USD | |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
0 | USD | |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
68126000 | USD | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
6260000 | USD | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
104211000 | USD | |
us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
900000 | USD | |
us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
300000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
8815000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5289000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
3462000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
141000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
24122000 | USD | |
us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
22686000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-21125000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-56944000 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
47000 | USD | |
us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-425000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-534000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
1790000 | USD | |
CY2008Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
12119000 | USD |
CY2009Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
13909000 | USD |