$GHM
GRAHAM CORP

2015 Q2 Form 10-Q Financial Statement

#000119312515275703 Filed on August 04, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $27.62M $28.50M
YoY Change -3.11% 0.87%
Cost Of Revenue $19.58M $20.57M
YoY Change -4.81% 12.77%
Gross Profit $8.037M $7.932M
YoY Change 1.32% -20.8%
Gross Profit Margin 29.1% 27.83%
Selling, General & Admin $4.580M $4.295M
YoY Change 6.64% -1.17%
% of Gross Profit 56.99% 54.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $563.0K $520.0K
YoY Change 8.27% 5.48%
% of Gross Profit 7.01% 6.56%
Operating Expenses $4.580M $4.295M
YoY Change 6.64% -1.17%
Operating Profit $3.457M $3.637M
YoY Change -4.95% -35.84%
Interest Expense $3.000K -$3.000K
YoY Change -200.0% -130.0%
% of Operating Profit 0.09% -0.08%
Other Income/Expense, Net
YoY Change
Pretax Income $3.448M $3.626M
YoY Change -4.91% -35.46%
Income Tax $1.087M $1.234M
% Of Pretax Income 31.53% 34.03%
Net Earnings $2.361M $2.392M
YoY Change -1.3% -37.18%
Net Earnings / Revenue 8.55% 8.39%
Basic Earnings Per Share $0.23 $0.24
Diluted Earnings Per Share $0.23 $0.24
COMMON SHARES
Basic Shares Outstanding 10.15M 10.11M shares
Diluted Shares Outstanding 10.16M 10.13M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.60M $61.40M
YoY Change 1.95% 15.41%
Cash & Equivalents $29.62M $46.41M
Short-Term Investments $33.00M $15.00M
Other Short-Term Assets $1.500M $1.600M
YoY Change -6.25% 6.67%
Inventory $11.70M $12.82M
Prepaid Expenses
Receivables $15.55M $12.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $109.9M $95.74M
YoY Change 14.77% 3.39%
LONG-TERM ASSETS
Property, Plant & Equipment $19.36M $18.56M
YoY Change 4.32% 41.67%
Goodwill $6.938M $6.938M
YoY Change 0.0%
Intangibles $12.80M $12.80M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $144.0K $213.0K
YoY Change -32.39% -91.81%
Total Long-Term Assets $42.76M $46.65M
YoY Change -8.33% 23.74%
TOTAL ASSETS
Total Short-Term Assets $109.9M $95.74M
Total Long-Term Assets $42.76M $46.65M
Total Assets $152.6M $142.4M
YoY Change 7.2% 9.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.04M $7.132M
YoY Change 68.76% -7.38%
Accrued Expenses $4.079M $2.688M
YoY Change 51.75% -67.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $26.07M $24.65M
YoY Change 5.77% 1.43%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $1.200M $1.100M
YoY Change 9.09% -31.25%
Total Long-Term Liabilities $1.300M $1.200M
YoY Change 8.33% -29.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.07M $24.65M
Total Long-Term Liabilities $1.300M $1.200M
Total Liabilities $34.02M $34.22M
YoY Change -0.58% 2.76%
SHAREHOLDERS EQUITY
Retained Earnings $107.7M $95.46M
YoY Change 12.85% 8.3%
Common Stock $22.77M $21.50M
YoY Change 5.9%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.012M $3.111M
YoY Change -3.18%
Treasury Stock Shares 299.0K shares 311.0K shares
Shareholders Equity $118.6M $108.2M
YoY Change
Total Liabilities & Shareholders Equity $152.6M $142.4M
YoY Change 7.2% 9.28%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $2.361M $2.392M
YoY Change -1.3% -37.18%
Depreciation, Depletion And Amortization $563.0K $520.0K
YoY Change 8.27% 5.48%
Cash From Operating Activities $3.330M $3.190M
YoY Change 4.39% 59.5%
INVESTING ACTIVITIES
Capital Expenditures $264.0K $2.569M
YoY Change -89.72% 770.85%
Acquisitions
YoY Change
Other Investing Activities $0.00 $14.00M
YoY Change -100.0%
Cash From Investing Activities -$260.0K $11.43M
YoY Change -102.27% -4041.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -720.0K -360.0K
YoY Change 100.0% 71.43%
NET CHANGE
Cash From Operating Activities 3.330M 3.190M
Cash From Investing Activities -260.0K 11.43M
Cash From Financing Activities -720.0K -360.0K
Net Change In Cash 2.350M 14.26M
YoY Change -83.52% 850.67%
FREE CASH FLOW
Cash From Operating Activities $3.330M $3.190M
Capital Expenditures $264.0K $2.569M
Free Cash Flow $3.066M $621.0K
YoY Change 393.72% -63.58%

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NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
3331000
CY2015Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2015Q2 dei Amendment Flag
AmendmentFlag
false
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12000 shares
CY2015Q2 dei Document Type
DocumentType
10-Q
CY2015Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000716314
CY2015Q2 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2015Q2 dei Entity Registrant Name
EntityRegistrantName
GRAHAM CORP
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2015Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10161000 shares
CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
13000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10148000 shares
CY2015Q2 dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
CY2015Q2 dei Trading Symbol
TradingSymbol
GHM
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2015Q2 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
15000
CY2015Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
264000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
2361000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
195000
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
27617000
CY2015Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1000
CY2015Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-3000
CY2015Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
813000
CY2015Q2 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
462000
CY2015Q2 us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-177000
CY2015Q2 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2284000
CY2015Q2 us-gaap Gross Profit
GrossProfit
8037000
CY2015Q2 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1701000
CY2015Q2 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
9000000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2556000
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3448000
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
52000
CY2015Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
22000
CY2015Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-107000
CY2015Q2 ghm Other Expenses And Income
OtherExpensesAndIncome
4589000
CY2015Q2 ghm Amortization Of Unrecognized Prior Service Cost And Actuarial Losses
AmortizationOfUnrecognizedPriorServiceCostAndActuarialLosses
303000
CY2015Q2 ghm Company Recognizes Planned Manufacturing Process
CompanyRecognizesPlannedManufacturingProcess
P28D
CY2015Q2 ghm Increase Decrease In Defined Benefit Plan Assets For Plan Benefits Noncurrent
IncreaseDecreaseInDefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
305000
CY2015Q2 us-gaap Interest Paid Net
InterestPaidNet
3000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1087000
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
220000
CY2015Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
112000
CY2015Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2345000
CY2015Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-264000
CY2015Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-196000
CY2015Q2 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-196000
CY2015Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-720000
CY2015Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
390000
CY2015Q2 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
361000
CY2015Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
96000
CY2015Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2000
CY2015Q2 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
12000
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4580000
CY2015Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
58000
CY2015Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
19580000
CY2015Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
813000
CY2015Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1145000
CY2015Q2 us-gaap Product Warranty Expense
ProductWarrantyExpense
91000
CY2015Q2 us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
-796000
CY2015Q2 us-gaap Depreciation
Depreciation
563000
CY2015Q2 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
9000000
CY2015Q2 ghm Increase Decrease In Accrued Compensation Accrued Expenses And Other Current And Non Current Liabilities
IncreaseDecreaseInAccruedCompensationAccruedExpensesAndOtherCurrentAndNonCurrentLiabilities
-2284000
CY2015Q2 ghm Direct Labor Period Worked On Contracts
DirectLaborPeriodWorkedOnContracts
P0DT575H
CY2015Q2 ghm Increase Decrease In Long Term Portion Of Accrued Compensation Accrued Pension Liability And Accrued Postretirement Benefits
IncreaseDecreaseInLongTermPortionOfAccruedCompensationAccruedPensionLiabilityAndAccruedPostretirementBenefits
-95000
CY2015Q2 ghm Income Taxes Paid Refunded
IncomeTaxesPaidRefunded
324000

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