$GHM
GRAHAM CORP

2016 Q1 Form 10-Q Financial Statement

#000119312516446783 Filed on February 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2015 Q1
Revenue $22.30M $17.32M $37.46M
YoY Change -40.46% -48.51% 43.58%
Cost Of Revenue $17.74M $13.80M $24.67M
YoY Change -28.09% -41.39% 32.14%
Gross Profit $4.559M $3.524M $12.79M
YoY Change -64.34% -65.12% 72.35%
Gross Profit Margin 20.44% 20.34% 34.13%
Selling, General & Admin $3.880M $3.680M $4.870M
YoY Change -20.33% -16.82% 16.23%
% of Gross Profit 85.11% 104.43% 38.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $570.0K $610.0K $580.0K
YoY Change -1.72% 5.17% 5.45%
% of Gross Profit 12.5% 17.31% 4.54%
Operating Expenses $3.950M $3.680M $4.930M
YoY Change -19.88% -16.82% 16.27%
Operating Profit $609.0K -$156.0K $7.855M
YoY Change -92.25% -102.75% 147.17%
Interest Expense $80.00K $4.000K $50.00K
YoY Change 60.0% 100.0% -16.67%
% of Operating Profit 13.14% 0.64%
Other Income/Expense, Net $10.00K $1.780M
YoY Change
Pretax Income $700.0K $1.638M $6.190M
YoY Change -88.69% -71.1% 91.05%
Income Tax $180.0K $364.0K $2.020M
% Of Pretax Income 25.71% 22.22% 32.63%
Net Earnings $520.0K $1.274M $4.165M
YoY Change -87.52% -68.09% 79.76%
Net Earnings / Revenue 2.33% 7.35% 11.12%
Basic Earnings Per Share $0.05 $0.13 $0.41
Diluted Earnings Per Share $0.05 $0.13 $0.41
COMMON SHARES
Basic Shares Outstanding 9.808M shares 9.922M shares 10.13M shares
Diluted Shares Outstanding 9.927M shares

Balance Sheet

Concept 2016 Q1 2015 Q4 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.10M $73.20M $60.30M
YoY Change 7.96% 17.12% -1.31%
Cash & Equivalents $24.07M $31.22M $27.27M
Short-Term Investments $41.00M $42.00M $33.00M
Other Short-Term Assets $600.0K $900.0K $500.0K
YoY Change 20.0% -50.0% -58.33%
Inventory $10.80M $11.80M $14.00M
Prepaid Expenses
Receivables $12.73M $10.86M $17.25M
Other Receivables $1.600M $2.900M $400.0K
Total Short-Term Assets $102.7M $108.1M $111.0M
YoY Change -7.49% 0.53% 13.95%
LONG-TERM ASSETS
Property, Plant & Equipment $18.75M $18.98M $19.81M
YoY Change -5.38% -4.57% 20.45%
Goodwill $6.938M $6.938M $6.938M
YoY Change 0.0% 0.0% 0.0%
Intangibles $12.80M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $168.0K $186.0K $146.0K
YoY Change 15.07% 2.76% 17.74%
Total Long-Term Assets $40.40M $42.94M $42.96M
YoY Change -5.95% -11.24% -2.77%
TOTAL ASSETS
Total Short-Term Assets $102.7M $108.1M $111.0M
Total Long-Term Assets $40.40M $42.94M $42.96M
Total Assets $143.1M $151.0M $154.0M
YoY Change -7.06% -3.12% 8.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.33M $10.91M $13.33M
YoY Change -22.57% -14.12% 32.23%
Accrued Expenses $3.826M $3.153M $3.247M
YoY Change 17.83% -4.34% 45.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $27.92M $27.74M $30.16M
YoY Change -7.43% -7.39% 15.52%
LONG-TERM LIABILITIES
Long-Term Debt $200.0K $200.0K $100.0K
YoY Change 100.0% 100.0% 0.0%
Other Long-Term Liabilities $2.100M $1.200M $1.300M
YoY Change 61.54% 0.0% 0.0%
Total Long-Term Liabilities $2.300M $1.400M $1.400M
YoY Change 64.29% 7.69% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.92M $27.74M $30.16M
Total Long-Term Liabilities $2.300M $1.400M $1.400M
Total Liabilities $33.75M $35.94M $37.45M
YoY Change -9.88% -9.28% 4.83%
SHAREHOLDERS EQUITY
Retained Earnings $109.0M $109.4M $106.2M
YoY Change 2.67% 6.37% 13.6%
Common Stock $23.36M $23.15M $22.44M
YoY Change 4.1% 5.2% 5.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $12.32M $8.805M $3.012M
YoY Change 309.0% 187.37% -3.18%
Treasury Stock Shares $822.0K 620.0K shares 299.0K shares
Shareholders Equity $109.4M $115.1M $116.6M
YoY Change
Total Liabilities & Shareholders Equity $143.1M $151.0M $154.0M
YoY Change -7.06% -3.12% 8.73%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2015 Q1
OPERATING ACTIVITIES
Net Income $520.0K $1.274M $4.165M
YoY Change -87.52% -68.09% 79.76%
Depreciation, Depletion And Amortization $570.0K $610.0K $580.0K
YoY Change -1.72% 5.17% 5.45%
Cash From Operating Activities -$3.420M $14.47M -$1.230M
YoY Change 178.05% -1576.53% -286.36%
INVESTING ACTIVITIES
Capital Expenditures -$270.0K -$360.0K -$330.0K
YoY Change -18.18% -58.62% -89.35%
Acquisitions
YoY Change
Other Investing Activities $1.000M -$9.000M $0.00
YoY Change -100.0%
Cash From Investing Activities $730.0K -$9.360M -$340.0K
YoY Change -314.71% 988.37% -78.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.480M -3.270M -670.0K
YoY Change 568.66% 717.5% 219.05%
NET CHANGE
Cash From Operating Activities -3.420M 14.47M -1.230M
Cash From Investing Activities 730.0K -9.360M -340.0K
Cash From Financing Activities -4.480M -3.270M -670.0K
Net Change In Cash -7.170M 1.840M -2.240M
YoY Change 220.09% -182.14% 93.1%
FREE CASH FLOW
Cash From Operating Activities -$3.420M $14.47M -$1.230M
Capital Expenditures -$270.0K -$360.0K -$330.0K
Free Cash Flow -$3.150M $14.83M -$900.0K
YoY Change 250.0% -13581.82% -123.94%

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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
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dei Document Fiscal Year Focus
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dei Amendment Flag
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
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dei Entity Filer Category
EntityFilerCategory
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Entity Registrant Name
EntityRegistrantName
GRAHAM CORP
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
8000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
dei Trading Symbol
TradingSymbol
GHM
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Repayments Of Long Term Capital Lease Obligations
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Sales Revenue Net
SalesRevenueNet
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Income Taxes Paid
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us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
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us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Investment Income Interest
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Share Based Compensation
ShareBasedCompensation
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StandardProductWarrantyAccrualPayments
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DeferredIncomeTaxExpenseBenefit
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ProceedsFromSaleOfPropertyPlantAndEquipment
4000
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ProceedsFromStockOptionsExercised
97000
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EffectOfExchangeRateOnCashAndCashEquivalents
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
5000
us-gaap Selling General And Administrative Expense
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12447000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
175000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
49042000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2415000
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us-gaap Depreciation
Depreciation
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us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
27000000
ghm Increase Decrease In Accrued Compensation Accrued Expenses And Other Current And Non Current Liabilities
IncreaseDecreaseInAccruedCompensationAccruedExpensesAndOtherCurrentAndNonCurrentLiabilities
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ghm Product Warranty Income Expense
ProductWarrantyIncomeExpense
45000
ghm Direct Labor Period Worked On Contracts
DirectLaborPeriodWorkedOnContracts
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ghm Other Expenses And Income
OtherExpensesAndIncome
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ghm Amortization Of Unrecognized Prior Service Cost And Actuarial Losses
AmortizationOfUnrecognizedPriorServiceCostAndActuarialLosses
911000
ghm Increase Decrease In Defined Benefit Plan Assets For Plan Benefits Noncurrent
IncreaseDecreaseInDefinedBenefitPlanAssetsForPlanBenefitsNoncurrent
917000
ghm Increase Decrease In Long Term Portion Of Accrued Compensation Accrued Pension Liability And Accrued Postretirement Benefits
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ghm Cancellation Fee Income
CancellationFeeIncome
1784000
ghm Company Recognizes Planned Manufacturing Process Minimum Term
CompanyRecognizesPlannedManufacturingProcessMinimumTerm
P28D
ghm Substantial Completion Of Manufacturing Process Minimum
SubstantialCompletionOfManufacturingProcessMinimum
0.95 pure
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EarningsPerShareDiluted
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22000 shares
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10127000 shares
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EarningsPerShareBasic
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ComprehensiveIncomeNetOfTax
4036000
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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5668000
CY2014Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2014Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
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CY2014Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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InterestExpense
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CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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AmortizationOfIntangibleAssets
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CY2014Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
23543000
CY2014Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
405000
CY2014Q4 ghm Product Warranty Income Expense
ProductWarrantyIncomeExpense
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CY2014Q4 ghm Other Expenses And Income
OtherExpensesAndIncome
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CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2015Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9927000 shares
CY2015Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2015Q4 us-gaap Sales Revenue Net
SalesRevenueNet
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CY2015Q4 us-gaap Gross Profit
GrossProfit
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CY2015Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2015Q4 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2015Q4 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
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CY2015Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
364000
CY2015Q4 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
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CY2015Q4 us-gaap Interest Expense
InterestExpense
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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AmortizationOfIntangibleAssets
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CY2015Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
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DividendsCommonStockCash
795000
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ProductWarrantyIncomeExpense
158000
CY2015Q4 ghm Other Expenses And Income
OtherExpensesAndIncome
1886000
CY2015Q4 ghm Cancellation Fee Income
CancellationFeeIncome
1784000

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