2013 Q1 Form 10-Q Financial Statement
#000119312513196649 Filed on May 03, 2013
Income Statement
| Concept | 2013 Q1 | 2012 Q1 |
|---|---|---|
| Revenue | $193.2M | $177.1M |
| YoY Change | 9.05% | 28.66% |
| Cost Of Revenue | $116.3M | $107.1M |
| YoY Change | 8.67% | 33.62% |
| Gross Profit | $76.83M | $70.07M |
| YoY Change | 9.64% | 21.75% |
| Gross Profit Margin | 39.77% | 39.56% |
| Selling, General & Admin | $15.63M | $20.43M |
| YoY Change | -23.51% | 11.65% |
| % of Gross Profit | 20.34% | 29.16% |
| Research & Development | $9.000M | $9.600M |
| YoY Change | -6.25% | 10.34% |
| % of Gross Profit | 11.71% | 13.7% |
| Depreciation & Amortization | $7.001M | $6.058M |
| YoY Change | 15.57% | 4.45% |
| % of Gross Profit | 9.11% | 8.65% |
| Operating Expenses | $15.63M | $20.43M |
| YoY Change | -23.51% | -24.33% |
| Operating Profit | $52.18M | $40.03M |
| YoY Change | 30.34% | 30.84% |
| Interest Expense | $14.00K | $5.000K |
| YoY Change | 180.0% | -95.0% |
| % of Operating Profit | 0.03% | 0.01% |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $52.28M | $40.13M |
| YoY Change | 30.27% | 30.72% |
| Income Tax | $12.44M | $11.33M |
| % Of Pretax Income | 23.79% | 28.24% |
| Net Earnings | $39.84M | $28.80M |
| YoY Change | 38.35% | 32.88% |
| Net Earnings / Revenue | 20.63% | 16.26% |
| Basic Earnings Per Share | $0.98 | $0.72 |
| Diluted Earnings Per Share | $0.98 | $0.71 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 40.53M shares | 40.18M shares |
| Diluted Shares Outstanding | 40.71M shares | 40.41M shares |
Balance Sheet
| Concept | 2013 Q1 | 2012 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $319.0M | $285.5M |
| YoY Change | 11.73% | 6.41% |
| Cash & Equivalents | $319.0M | $285.5M |
| Short-Term Investments | ||
| Other Short-Term Assets | $17.98M | $46.10M |
| YoY Change | -60.99% | 16.41% |
| Inventory | $368.3M | $306.8M |
| Prepaid Expenses | ||
| Receivables | $212.1M | $190.8M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $942.2M | $829.3M |
| YoY Change | 13.61% | 15.36% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $299.0M | $284.3M |
| YoY Change | 5.19% | 8.26% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $10.73M | $12.10M |
| YoY Change | -11.36% | -8.33% |
| Total Long-Term Assets | $309.8M | $296.4M |
| YoY Change | 4.51% | 7.47% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $942.2M | $829.3M |
| Total Long-Term Assets | $309.8M | $296.4M |
| Total Assets | $1.252B | $1.126B |
| YoY Change | 11.21% | 13.17% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $38.48M | $36.60M |
| YoY Change | 5.13% | 8.61% |
| Accrued Expenses | $35.20M | $31.50M |
| YoY Change | 11.75% | 20.23% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $0.00 | |
| YoY Change | -100.0% | |
| Total Short-Term Liabilities | $144.8M | $151.5M |
| YoY Change | -4.41% | 19.39% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $0.00 | $0.00 |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $144.8M | $151.5M |
| Total Long-Term Liabilities | $0.00 | $0.00 |
| Total Liabilities | $154.6M | $161.0M |
| YoY Change | -3.95% | 18.3% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $939.8M | |
| YoY Change | ||
| Common Stock | $185.9M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $1.097B | $964.7M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $1.252B | $1.126B |
| YoY Change | 11.21% | 13.17% |
Cashflow Statement
| Concept | 2013 Q1 | 2012 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $39.84M | $28.80M |
| YoY Change | 38.35% | 32.88% |
| Depreciation, Depletion And Amortization | $7.001M | $6.058M |
| YoY Change | 15.57% | 4.45% |
| Cash From Operating Activities | $74.98M | -$1.484M |
| YoY Change | -5152.76% | -103.66% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $12.07M | $13.87M |
| YoY Change | -12.96% | -170.04% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $200.0K | $200.0K |
| YoY Change | 0.0% | -80.0% |
| Cash From Investing Activities | -$11.90M | -$13.71M |
| YoY Change | -13.17% | -27.07% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 3.673M | 544.0K |
| YoY Change | 575.18% | 172.0% |
| NET CHANGE | ||
| Cash From Operating Activities | 74.98M | -1.484M |
| Cash From Investing Activities | -11.90M | -13.71M |
| Cash From Financing Activities | 3.673M | 544.0K |
| Net Change In Cash | 66.75M | -14.65M |
| YoY Change | -555.65% | -166.59% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $74.98M | -$1.484M |
| Capital Expenditures | $12.07M | $13.87M |
| Free Cash Flow | $62.91M | -$15.35M |
| YoY Change | -509.83% | -125.42% |
Facts In Submission
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10-Q | |
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RevenueRecognitionPercentageOfCompletionMethod
|
<div> <p style="MARGIN-TOP: 0px; 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">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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’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 the 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’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 may not 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 March 31, 2013 and December 31, 2012, receivables included $54.3 million and $62.1 million of unbilled receivables, respectively. For the quarter ended March 31, 2013, there were 14 projects representing approximately 19% of the Company’s total revenue and approximately 22% of its product revenues that were accounted for using percentage-of-completion accounting, compared to 13 projects during the first quarter of 2012, which represented approximately 17% of the Company’s total revenues and approximately 20% of its product revenues. During 2012, there were 21 projects representing approximately 20% of the Company’s total revenues and approximately 24% of its product revenues.</font></p> </div> | |
| CY2013Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
25219000 | |
| CY2013Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.98 | |
| CY2013Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
11683000 | |
| CY2013Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
96673000 | |
| CY2013Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-1142000 | |
| CY2013Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
39842000 | |
| CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
0 | shares |
| CY2013Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
140978000 | |
| CY2013Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.98 | |
| CY2013Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
40713000 | shares |
| CY2013Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3673000 | |
| CY2013Q1 | us-gaap |
Cost Of Services
CostOfServices
|
19655000 | |
| CY2013Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
184000 | shares |
| CY2013Q1 | us-gaap |
Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
|
<div> <p style="MARGIN-TOP: 18px; 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">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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 does provide technical advisory assistance. At the time of delivery of the product, the customer is not obligated to buy or rent the Company’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’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’s technical advisory services. The customer may use a third party or their own personnel.</font></p> </div> | |
| CY2013Q1 | us-gaap |
Revenues
Revenues
|
193155000 | |
| CY2013Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
15629000 | |
| CY2013Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
12437000 | |
| CY2013Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-4969000 | |
| CY2013Q1 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
160485000 | |
| CY2013Q1 | us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
606000 | |
| CY2013Q1 | us-gaap |
Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
|
-19000 | shares |
| CY2013Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-7116000 | |
| CY2013Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
12070000 | |
| CY2013Q1 | us-gaap |
Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
|
166000 | |
| CY2013Q1 | us-gaap |
Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
|
12673000 | |
| CY2013Q1 | 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; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%"> <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 methods:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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">  </p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td width="5%"><font size="1"> </font></td> <td valign="top" width="2%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2">•</font></td> <td valign="top" width="1%"><font size="1"> </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> | |
| CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
52279000 | |
| CY2013Q1 | 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’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’s Annual Report on Form 10-K for the year ended December 31, 2012.</font></p> </div> | |
| CY2013Q1 | us-gaap |
Interest Expense
InterestExpense
|
14000 | |
| CY2013Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
74983000 | |
| CY2013Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
116328000 | |
| CY2013Q1 | us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
606000 | |
| CY2013Q1 | drq |
Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
|
0 | |
| CY2013Q1 | drq |
Engineering And Product Development
EngineeringAndProductDevelopment
|
9021000 | |
| CY2013Q1 | drq |
Number Of Geographic Segments
NumberOfGeographicSegments
|
3 | Segment |
| CY2013Q1 | drq |
Number Of Projects
NumberOfProjects
|
14 | Project |
| CY2013Q1 | drq |
Percentage Of Product Revenue
PercentageOfProductRevenue
|
0.22 | pure |
| CY2013Q1 | drq |
Segment Reporting Information Eliminations
SegmentReportingInformationEliminations
|
12673000 | |
| CY2013Q1 | drq |
Number Of Product Revenue Sources
NumberOfProductRevenueSources
|
2 | Method |
| CY2013Q1 | drq |
Number Of Service Revenue Sources
NumberOfServiceRevenueSources
|
3 | Source |
| CY2013Q1 | drq |
Percentage Of Cumulative Revenue
PercentageOfCumulativeRevenue
|
0.19 | pure |
| CY2012Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
6058000 | |
| CY2012Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
491000 | |
| CY2012Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
2640000 | |
| CY2012Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-13710000 | |
| CY2012Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
103000 | |
| CY2012Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
40184000 | shares |
| CY2012Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
8152000 | |
| CY2012Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
8625000 | |
| CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
40130000 | |
| CY2012Q1 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
27418000 | |
| CY2012Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1460000 | |
| CY2012Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-13088000 | |
| CY2012Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
40032000 | |
| CY2012Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
37422000 | |
| CY2012Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.72 | |
| CY2012Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
25337000 | |
| CY2012Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
92123000 | |
| CY2012Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-334000 | |
| CY2012Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
28797000 | |
| CY2012Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
0 | shares |
| CY2012Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
137092000 | |
| CY2012Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.71 | |
| CY2012Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
40411000 | shares |
| CY2012Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
544000 | |
| CY2012Q1 | us-gaap |
Cost Of Services
CostOfServices
|
14927000 | |
| CY2012Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
227000 | shares |
| CY2012Q1 | us-gaap |
Revenues
Revenues
|
177124000 | |
| CY2012Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
20432000 | |
| CY2012Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
11333000 | |
| CY2012Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
1562000 | |
| CY2012Q1 | us-gaap |
Weighted Average Number Basic Shares Outstanding Adjustment Pro Forma
WeightedAverageNumberBasicSharesOutstandingAdjustmentProForma
|
-3000 | shares |
| CY2012Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1281000 | |
| CY2012Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
13867000 | |
| CY2012Q1 | us-gaap |
Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
|
157000 | |
| CY2012Q1 | us-gaap |
Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
|
21409000 | |
| CY2012Q1 | us-gaap |
Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
|
53000 | |
| CY2012Q1 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
149706000 | |
| CY2012Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
2000 | |
| CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
40130000 | |
| CY2012Q1 | us-gaap |
Interest Expense
InterestExpense
|
5000 | |
| CY2012Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1484000 | |
| CY2012Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
107050000 | |
| CY2012Q1 | us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
53000 | |
| CY2012Q1 | drq |
Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
|
0 | |
| CY2012Q1 | drq |
Engineering And Product Development
EngineeringAndProductDevelopment
|
9610000 | |
| CY2012Q1 | drq |
Number Of Projects
NumberOfProjects
|
13 | Project |
| CY2012Q1 | drq |
Percentage Of Product Revenue
PercentageOfProductRevenue
|
0.20 | pure |
| CY2012Q1 | drq |
Segment Reporting Information Eliminations
SegmentReportingInformationEliminations
|
21409000 | |
| CY2012Q1 | drq |
Percentage Of Cumulative Revenue
PercentageOfCumulativeRevenue
|
0.17 | pure |
