$INVX
Innovex International, Inc.

2012 Q4 Form 10-Q Financial Statement

#000119312512461028 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $188.5M $190.9M $155.0M
YoY Change 9.81% 23.11% 10.66%
Cost Of Revenue $114.5M $121.8M $96.49M
YoY Change 10.87% 26.26% 21.52%
Gross Profit $74.01M $69.04M $58.55M
YoY Change 8.2% 17.92% -3.55%
Gross Profit Margin 39.27% 36.17% 37.76%
Selling, General & Admin $23.60M $20.76M $18.27M
YoY Change 31.84% 13.63% 17.14%
% of Gross Profit 31.89% 30.08% 31.21%
Research & Development $8.800M $9.600M $8.500M
YoY Change -1.12% 12.94% 14.86%
% of Gross Profit 11.89% 13.91% 14.52%
Depreciation & Amortization $6.800M $7.000M $6.400M
YoY Change 13.33% 9.37% 23.08%
% of Gross Profit 9.19% 10.14% 10.93%
Operating Expenses $32.40M $20.76M $18.27M
YoY Change 20.45% 13.63% -20.55%
Operating Profit $41.59M $38.72M $31.78M
YoY Change 12.89% 21.86% -15.71%
Interest Expense $100.0K $7.000K $15.00K
YoY Change 0.0% -53.33% -85.0%
% of Operating Profit 0.24% 0.02% 0.05%
Other Income/Expense, Net
YoY Change
Pretax Income $41.70M $38.86M $31.85M
YoY Change 12.7% 22.04% -15.75%
Income Tax $10.80M $9.207M $8.582M
% Of Pretax Income 25.9% 23.69% 26.95%
Net Earnings $30.95M $29.66M $23.26M
YoY Change 10.06% 27.49% -16.02%
Net Earnings / Revenue 16.42% 15.54% 15.0%
Basic Earnings Per Share $0.77 $0.73 $0.58
Diluted Earnings Per Share $0.76 $0.73 $0.58
COMMON SHARES
Basic Shares Outstanding 40.44M shares 40.42M shares 40.06M shares
Diluted Shares Outstanding 40.59M shares 40.30M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.2M $263.4M $255.6M
YoY Change -13.86% 3.05% -0.93%
Cash & Equivalents $257.2M $263.4M $255.6M
Short-Term Investments
Other Short-Term Assets $17.97M $13.37M $39.20M
YoY Change -5.25% -65.9% 12.97%
Inventory $362.2M $350.1M $269.7M
Prepaid Expenses
Receivables $263.2M $240.8M $185.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $924.4M $891.9M $750.0M
YoY Change 15.65% 18.92% 11.26%
LONG-TERM ASSETS
Property, Plant & Equipment $296.0M $293.1M $270.3M
YoY Change 7.79% 8.43% 18.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.08M $11.22M $12.10M
YoY Change -7.36% -7.26% 17.48%
Total Long-Term Assets $325.3M $304.3M $282.5M
YoY Change 13.53% 7.72% 18.85%
TOTAL ASSETS
Total Short-Term Assets $924.4M $891.9M $750.0M
Total Long-Term Assets $325.3M $304.3M $282.5M
Total Assets $1.250B $1.196B $1.033B
YoY Change 15.09% 15.86% 13.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.30M $36.30M $31.50M
YoY Change -20.46% 15.23% 25.0%
Accrued Expenses $34.90M $39.40M $33.30M
YoY Change 4.8% 18.32% 8.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $100.0K
YoY Change -100.0% -75.0%
Total Short-Term Liabilities $155.1M $155.2M $131.6M
YoY Change 2.71% 17.95% 23.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $155.1M $155.2M $131.6M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $165.0M $164.7M $140.9M
YoY Change 2.74% 16.92% 23.16%
SHAREHOLDERS EQUITY
Retained Earnings $900.0M $869.0M
YoY Change 15.27%
Common Stock $180.3M $177.5M
YoY Change 10.66%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.066B $1.031B $891.6M
YoY Change
Total Liabilities & Shareholders Equity $1.231B $1.196B $1.033B
YoY Change 13.41% 15.86% 13.24%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $30.95M $29.66M $23.26M
YoY Change 10.06% 27.49% -16.02%
Depreciation, Depletion And Amortization $6.800M $7.000M $6.400M
YoY Change 13.33% 9.37% 23.08%
Cash From Operating Activities $1.800M $22.50M $15.80M
YoY Change -96.45% 42.41% -72.43%
INVESTING ACTIVITIES
Capital Expenditures -$10.20M -$12.90M -$12.30M
YoY Change -8.11% 4.88% -53.76%
Acquisitions
YoY Change
Other Investing Activities $500.0K $200.0K $300.0K
YoY Change -266.67% -33.33% 200.0%
Cash From Investing Activities -$9.700M -$12.70M -$12.10M
YoY Change -14.16% 4.96% -54.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.000M 3.100M 0.000
YoY Change -78.72% -100.0%
NET CHANGE
Cash From Operating Activities 1.800M 22.50M 15.80M
Cash From Investing Activities -9.700M -12.70M -12.10M
Cash From Financing Activities 1.000M 3.100M 0.000
Net Change In Cash -6.900M 12.90M 3.700M
YoY Change -115.65% 248.65% -88.54%
FREE CASH FLOW
Cash From Operating Activities $1.800M $22.50M $15.80M
Capital Expenditures -$10.20M -$12.90M -$12.30M
Free Cash Flow $12.00M $35.40M $28.10M
YoY Change -80.58% 25.98% -66.51%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
40435393 shares
CY2010Q2 drq Amount Of General Liability Insurance Coverage
AmountOfGeneralLiabilityInsuranceCoverage
100000000
CY2010Q4 drq Amount Of General Liability Insurance Coverage
AmountOfGeneralLiabilityInsuranceCoverage
200000000
CY2011Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
255572000
CY2011Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40060000 shares
CY2012Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2012Q3 us-gaap Other Assets Current
OtherAssetsCurrent
13366000
CY2012Q3 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-15031000
CY2012Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14058000
CY2012Q3 us-gaap Inventory Gross
InventoryGross
378076000
CY2012Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2012Q3 us-gaap Liabilities Current
LiabilitiesCurrent
155221000
CY2012Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
75536000
CY2012Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
81522000
CY2012Q3 us-gaap Unbilled Receivables Not Billable At Balance Sheet Date Amount Expected To Be Collected Within One Year
UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedWithinOneYear
68100000
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
869037000
CY2012Q3 us-gaap Assets
Assets
1196203000
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
263421000
CY2012Q3 us-gaap Noncurrent Assets
NoncurrentAssets
304295000
CY2012Q3 us-gaap Billings In Excess Of Cost
BillingsInExcessOfCost
75026000
CY2012Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
240839000
CY2012Q3 us-gaap Inventory Net
InventoryNet
350053000
CY2012Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
11221000
CY2012Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
4516000
CY2012Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
28023000
CY2012Q3 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
9522000
CY2011Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-18443000
CY2011Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
12584000
CY2012Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1196203000
CY2012Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
40431518 shares
CY2012Q3 us-gaap Common Stock Value
CommonStockValue
404000
CY2012Q3 us-gaap Liabilities
Liabilities
164743000
CY2012Q3 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
24229000
CY2012Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
221018000
CY2012Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2012Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
293074000
CY2012Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2012Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40431518 shares
CY2012Q3 us-gaap Assets Current
AssetsCurrent
891908000
CY2012Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
25322000
CY2012Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
0 shares
CY2012Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2012Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
CY2012Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
177050000
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
1031460000
CY2012Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
36299000
CY2012Q3 drq Segment Long Lived Assets Reconciling Items
SegmentLongLivedAssetsReconcilingItems
2902000
CY2012Q3 drq Segment Reporting Total Assets Eliminations
SegmentReportingTotalAssetsEliminations
39857000
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
245850000
CY2011Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2011Q4 us-gaap Other Assets Current
OtherAssetsCurrent
18961000
CY2011Q4 us-gaap Inventory Gross
InventoryGross
304030000
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2011Q4 us-gaap Liabilities Current
LiabilitiesCurrent
151000000
CY2011Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
48240000
CY2011Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
75690000
CY2011Q4 us-gaap Unbilled Receivables Not Billable At Balance Sheet Date Amount Expected To Be Collected Within One Year
UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedWithinOneYear
30500000
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
780780000
CY2011Q4 us-gaap Assets
Assets
1085858000
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
298576000
CY2011Q4 us-gaap Noncurrent Assets
NoncurrentAssets
286556000
CY2011Q4 us-gaap Billings In Excess Of Cost
BillingsInExcessOfCost
76610000
CY2011Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
180095000
CY2011Q4 us-gaap Inventory Net
InventoryNet
277802000
CY2011Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
11957000
CY2011Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
5447000
CY2011Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
23868000
CY2011Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
26228000
CY2011Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
9614000
CY2011Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1085858000
CY2011Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
40175426 shares
CY2011Q4 us-gaap Common Stock Value
CommonStockValue
402000
CY2011Q4 us-gaap Liabilities
Liabilities
160614000
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
180100000
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
274599000
CY2011Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2011Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40175426 shares
CY2011Q4 us-gaap Assets Current
AssetsCurrent
799302000
CY2011Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
20779000
CY2011Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
CY2011Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
162505000
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
925244000
CY2011Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
35580000
CY2011Q4 drq Segment Long Lived Assets Reconciling Items
SegmentLongLivedAssetsReconcilingItems
2809000
CY2011Q4 drq Segment Reporting Total Assets Eliminations
SegmentReportingTotalAssetsEliminations
19243000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16973000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
404000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
257000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1460000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-42856000
us-gaap Investment Income Interest
InvestmentIncomeInterest
269000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40055000 shares
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
28054000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7714000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
93031000
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
60795000
us-gaap Share Based Compensation
ShareBasedCompensation
3438000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
9722000
us-gaap Operating Income Loss
OperatingIncomeLoss
92799000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
59429000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.68
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
29498000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
216219000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-837000
us-gaap Net Income Loss
NetIncomeLoss
67143000
us-gaap Costs And Expenses
CostsAndExpenses
336897000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.67
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40311000 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
444000
us-gaap Cost Of Services
CostOfServices
42381000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
256000 shares
us-gaap Revenues
Revenues
429696000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
52572000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25888000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
889000
drq Segment Reporting Information Eliminations
SegmentReportingInformationEliminations
47542000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0001042893
dei Trading Symbol
TradingSymbol
DRQ
dei Entity Registrant Name
EntityRegistrantName
DRIL-QUIP INC
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
5000 shares
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
21553000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
45114000
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
2258000
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
47542000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
297000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
368901000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
636000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
93031000
us-gaap Interest Expense
InterestExpense
37000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
51245000
us-gaap Cost Of Revenue
CostOfRevenue
258600000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
297000
drq Percentage Of Total Revenue
PercentageOfTotalRevenue
0.188 pure
drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
drq Engineering And Product Development
EngineeringAndProductDevelopment
25725000
drq Number Of Projects
NumberOfProjects
16 Project
drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.224 pure
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
19410000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
10040000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
34000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-5409000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-39303000
us-gaap Investment Income Interest
InvestmentIncomeInterest
329000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40292000 shares
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
59487000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
3412000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
120412000
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
88708000
us-gaap Share Based Compensation
ShareBasedCompensation
3922000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-35155000
us-gaap Operating Income Loss
OperatingIncomeLoss
120104000
us-gaap Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Revenues recognized under the percentage-of-completion method</i></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company uses the percentage-of-completion method on long-term project contracts that have the following characteristics:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">The contracts call for products which are designed to customer specifications;</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">The structural designs are unique and require significant engineering and manufacturing efforts generally requiring more than one year in duration;</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">The contracts contain specific terms as to milestones, progress billings and delivery dates; and</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">Product requirements cannot be filled directly from the Company&#x2019;s standard inventory.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">For each project, the Company prepares a detailed analysis of estimated costs, profit margin, completion date and risk factors which include availability of material, production efficiencies and other factors that may impact the project. On a quarterly basis, management reviews the progress of each project, which may result in revisions of previous estimates, including revenue recognition. The Company calculates the percent complete and applies this percentage to determine the revenues earned and the appropriate portion of total estimated costs. Losses, if any, are recorded in full in the period they become known. Historically, the Company&#x2019;s estimates of total costs and costs to complete have approximated actual costs incurred to complete the project.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Under the percentage-of-completion method, billings do not always correlate directly to the revenue recognized. Based upon the terms of the specific contract, billings may be in excess of the revenue recognized, in which case the amounts are included in customer prepayments as a liability on the Condensed Consolidated Balance Sheets. Likewise, revenue recognized may exceed customer billings in which case the amounts are reported in trade receivables. Unbilled revenues are expected to be billed and collected within one year. At September&#xA0;30, 2012 and December&#xA0;31, 2011, receivables included $68.1 million and $30.5 million of unbilled receivables, respectively. During the quarter ended September&#xA0;30, 2012, there were 17 projects representing approximately 21.0% of the Company&#x2019;s total revenue and approximately 25.2% of its product revenues that were accounted for using percentage-of-completion accounting, compared to 11 projects during the third quarter of 2011 representing 12.8% of the Company&#x2019;s total revenues and 14.8% of its product revenues. For the nine months ended September&#xA0;30, 2012, there were 19 projects representing 19.1% of the Company&#x2019;s total revenues and 22.3% of its product revenues, compared to 16 projects representing 18.8% of the Company&#x2019;s total revenues and 22.4% of its product revenues for the nine months ended September&#xA0;30, 2011, all of which were accounted for using percentage-of-completion accounting.</font></p> </div>
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
91669000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.19
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
70211000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
287567000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-459000
us-gaap Net Income Loss
NetIncomeLoss
88257000
us-gaap Costs And Expenses
CostsAndExpenses
424450000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.18
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40492000 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11225000
us-gaap Cost Of Services
CostOfServices
49629000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
200000 shares
us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Service revenue</i></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company earns service revenues from three sources:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">technical advisory assistance;</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">rental of running tools; and</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">rework and reconditioning of customer-owned Dril-Quip products.</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company does not install products for its customers, but it provides technical advisory assistance. At the time of delivery of the product, the customer is not obligated to buy or rent the Company&#x2019;s running tools and the Company is not obligated to perform any subsequent services relating to installation. Technical advisory assistance service revenue is recorded at the time the service is rendered. Service revenues associated with the rental of running and installation tools are recorded as earned. Rework and reconditioning service revenues are recorded when the refurbishment process is complete.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company normally negotiates contracts for products, including those accounted for under the percentage-of-completion method, and services separately. For all product sales, it is the customer&#x2019;s decision as to the timing of the product installation as well as whether Dril-Quip running tools will be purchased or rented. Furthermore, the customer is under no obligation to utilize the Company&#x2019;s technical advisory services. The customer may use a third party or their own personnel.</font></p> </div>
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4222000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40606000
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
1303000
us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
60205000
us-gaap Revenues
Revenues
544554000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
58614000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
32155000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
2839000
us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
140000 shares
us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Revenue Recognition</i></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Product Revenue</i></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company earns product revenues from two sources:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">product revenues recognized under the percentage-of-completion method; and</font></p> </td> </tr> </table> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1">&#xA0;</font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">&#x2022;</font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"> <p align="left"><font style="FONT-FAMILY: Times New Roman" size="2">product revenues from the sale of products that do not qualify for the percentage-of-completion method.</font></p> </td> </tr> </table> </div>
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1219000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
455846000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-240000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
120412000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 2%"> <font style="FONT-FAMILY: Times New Roman" size="2"><i>Use of Estimates</i></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Some of the Company&#x2019;s more significant estimates are those affected by critical accounting policies for revenue recognition, inventories and contingent liabilities as discussed more fully in the Company&#x2019;s Annual Report on Form 10-K for the year ended December&#xA0;31, 2011.</font></p> </div>
us-gaap Interest Expense
InterestExpense
21000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9916000
us-gaap Cost Of Revenue
CostOfRevenue
337196000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1219000
drq Percentage Of Total Revenue
PercentageOfTotalRevenue
0.191 pure
drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
drq Amount Of Interest Penalties And Monetary Restatement Fees On Tax Assessment
AmountOfInterestPenaltiesAndMonetaryRestatementFeesOnTaxAssessment
7800000
drq Engineering And Product Development
EngineeringAndProductDevelopment
28640000
drq Number Of Geographic Segments
NumberOfGeographicSegments
3 Segment
drq Number Of Projects
NumberOfProjects
19 Project
drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.223 pure
drq Tax Assessments Valued By Foreign Tax Authorities For Subsidiary
TaxAssessmentsValuedByForeignTaxAuthoritiesForSubsidiary
13000000
drq Segment Reporting Information Eliminations
SegmentReportingInformationEliminations
60205000
CY2010Q1 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
12200000
CY2010Q4 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
3900000
CY2011Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
84000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40059000 shares
CY2011Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-17666000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
31845000
CY2011Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
20797000
CY2011Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1000000
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
31776000
CY2011Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5597000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2011Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
80713000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
23263000
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2011Q3 us-gaap Costs And Expenses
CostsAndExpenses
123259000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40296000 shares
CY2011Q3 us-gaap Cost Of Services
CostOfServices
15774000
CY2011Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
237000 shares
CY2011Q3 us-gaap Revenues
Revenues
155035000
CY2011Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18274000
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8582000
CY2011Q3 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
1000 shares
CY2011Q3 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
19967000
CY2011Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
134238000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
31845000
CY2011Q3 us-gaap Interest Expense
InterestExpense
15000
CY2011Q3 us-gaap Cost Of Revenue
CostOfRevenue
96487000
CY2011Q3 drq Percentage Of Total Revenue
PercentageOfTotalRevenue
0.128 pure
CY2011Q3 drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
CY2011Q3 drq Engineering And Product Development
EngineeringAndProductDevelopment
8498000
CY2011Q3 drq Number Of Projects
NumberOfProjects
11 Project
CY2011Q3 drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.148 pure
CY2011Q3 drq Segment Reporting Information Eliminations
SegmentReportingInformationEliminations
19967000
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
148000
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40423000 shares
CY2012Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
7105000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
38864000
CY2012Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
31395000
CY2012Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1300000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
38723000
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
36762000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2012Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
103614000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
29657000
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
152137000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.73
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40589000 shares
CY2012Q3 us-gaap Cost Of Services
CostOfServices
18207000
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
166000 shares
CY2012Q3 us-gaap Revenues
Revenues
190860000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20764000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9207000
CY2012Q3 us-gaap Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
9000 shares
CY2012Q3 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
18420000
CY2012Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
159465000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
38864000
CY2012Q3 us-gaap Interest Expense
InterestExpense
7000
CY2012Q3 us-gaap Cost Of Revenue
CostOfRevenue
121821000
CY2012Q3 drq Percentage Of Total Revenue
PercentageOfTotalRevenue
0.210 pure
CY2012Q3 drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
CY2012Q3 drq Engineering And Product Development
EngineeringAndProductDevelopment
9552000
CY2012Q3 drq Number Of Projects
NumberOfProjects
17 Project
CY2012Q3 drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.252 pure
CY2012Q3 drq Segment Reporting Information Eliminations
SegmentReportingInformationEliminations
18420000

Files In Submission

Name View Source Status
0001193125-12-461028-index-headers.html Edgar Link pending
0001193125-12-461028-index.html Edgar Link pending
0001193125-12-461028.txt Edgar Link pending
0001193125-12-461028-xbrl.zip Edgar Link pending
d410075d10q.htm Edgar Link pending
d410075dex101.htm Edgar Link pending
d410075dex311.htm Edgar Link pending
d410075dex312.htm Edgar Link pending
d410075dex321.htm Edgar Link pending
d410075dex322.htm Edgar Link pending
drq-20120930.xml Edgar Link completed
drq-20120930.xsd Edgar Link pending
drq-20120930_cal.xml Edgar Link unprocessable
drq-20120930_def.xml Edgar Link unprocessable
drq-20120930_lab.xml Edgar Link unprocessable
drq-20120930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending