$INVX
Innovex International, Inc.

2015 Q4 Form 10-Q Financial Statement

#000119312515356620 Filed on October 29, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $201.6M $201.4M $254.8M
YoY Change -20.87% -16.69% 9.62%
Cost Of Revenue $108.4M $108.1M $142.5M
YoY Change -23.96% -20.05% 7.75%
Gross Profit $93.28M $93.27M $112.3M
YoY Change -16.95% -12.42% 12.08%
Gross Profit Margin 46.26% 46.31% 44.08%
Selling, General & Admin $20.20M $17.28M $22.50M
YoY Change -10.22% -17.1% -13.79%
% of Gross Profit 21.66% 18.53% 20.03%
Research & Development $12.80M $11.70M $11.60M
YoY Change 10.34% -7.87% 5.45%
% of Gross Profit 13.72% 12.54% 10.33%
Depreciation & Amortization $7.700M $7.700M $8.400M
YoY Change -8.33% 0.0% 10.53%
% of Gross Profit 8.25% 8.26% 7.48%
Operating Expenses $32.90M $17.28M $34.10M
YoY Change -3.52% -17.1% -8.09%
Operating Profit $60.31M $64.26M $78.24M
YoY Change -22.91% -11.97% 23.85%
Interest Expense $400.0K $4.000K $100.0K
YoY Change 300.0% 33.33% 0.0%
% of Operating Profit 0.66% 0.01% 0.13%
Other Income/Expense, Net
YoY Change
Pretax Income $60.70M $64.60M $78.30M
YoY Change -22.48% -11.75% 23.7%
Income Tax $12.30M $13.82M $19.20M
% Of Pretax Income 20.26% 21.39% 24.52%
Net Earnings $48.35M $50.78M $59.09M
YoY Change -18.16% -8.81% 25.55%
Net Earnings / Revenue 23.98% 25.21% 23.19%
Basic Earnings Per Share $1.28 $1.32 $1.51
Diluted Earnings Per Share $1.28 $1.32 $1.50
COMMON SHARES
Basic Shares Outstanding 38.36M shares 38.35M shares 39.47M shares
Diluted Shares Outstanding 38.55M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $381.3M $397.0M $298.7M
YoY Change 27.65% 26.03% -22.29%
Cash & Equivalents $381.3M $397.0M $298.7M
Short-Term Investments
Other Short-Term Assets $54.11M $43.29M $38.31M
YoY Change 41.23% 60.71% 34.19%
Inventory $344.5M $365.7M $392.6M
Prepaid Expenses
Receivables $319.8M $298.4M $374.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.124B $1.134B $1.127B
YoY Change -0.25% 2.7% 4.27%
LONG-TERM ASSETS
Property, Plant & Equipment $294.3M $292.6M $309.5M
YoY Change -4.93% -5.7% 1.55%
Goodwill $0.00
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.701M $11.69M $12.59M
YoY Change -22.92% -20.84% 14.49%
Total Long-Term Assets $304.0M $304.3M $322.1M
YoY Change -5.64% -6.39% 2.0%
TOTAL ASSETS
Total Short-Term Assets $1.124B $1.134B $1.127B
Total Long-Term Assets $304.0M $304.3M $322.1M
Total Assets $1.428B $1.438B $1.449B
YoY Change -1.45% 0.64% 3.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.93M $44.69M $53.84M
YoY Change -42.54% -7.16% 18.44%
Accrued Expenses $30.80M $36.80M $47.70M
YoY Change -35.43% -30.04% 22.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $100.8M $118.1M $198.6M
YoY Change -49.25% -30.32% 32.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $100.8M $118.1M $198.6M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $103.8M $122.3M $204.1M
YoY Change -49.14% -31.63% 31.83%
SHAREHOLDERS EQUITY
Retained Earnings $1.425B $1.409B $1.279B
YoY Change 11.48% 15.58% 19.51%
Common Stock $378.0K $382.0K $16.87M
YoY Change -97.76% -99.39% -91.23%
Preferred Stock
YoY Change
Treasury Stock (at cost) $190.2M
YoY Change 1801.96%
Treasury Stock Shares
Shareholders Equity $1.324B $1.316B $1.245B
YoY Change
Total Liabilities & Shareholders Equity $1.428B $1.438B $1.449B
YoY Change -1.45% 0.64% 3.75%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income $48.35M $50.78M $59.09M
YoY Change -18.16% -8.81% 25.55%
Depreciation, Depletion And Amortization $7.700M $7.700M $8.400M
YoY Change -8.33% 0.0% 10.53%
Cash From Operating Activities $31.50M $45.70M $46.70M
YoY Change -32.55% 27.3% 119.25%
INVESTING ACTIVITIES
Capital Expenditures -$10.40M -$5.500M -$11.30M
YoY Change -7.96% -31.25% -10.32%
Acquisitions
YoY Change
Other Investing Activities $200.0K $100.0K $500.0K
YoY Change -60.0% -16.67%
Cash From Investing Activities -$10.10M -$5.500M -$11.00M
YoY Change -8.18% -30.38% -9.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.70M -21.00M -48.70M
YoY Change -28.75% -57.75% 516.46%
NET CHANGE
Cash From Operating Activities 31.50M 45.70M 46.70M
Cash From Investing Activities -10.10M -5.500M -11.00M
Cash From Financing Activities -34.70M -21.00M -48.70M
Net Change In Cash -13.30M 19.20M -13.00M
YoY Change 2.31% -188.48% -1100.0%
FREE CASH FLOW
Cash From Operating Activities $31.50M $45.70M $46.70M
Capital Expenditures -$10.40M -$5.500M -$11.30M
Free Cash Flow $41.90M $51.20M $58.00M
YoY Change -27.76% 16.63% 71.09%

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us-gaap Revenue Recognition Percentage Of Completion Method
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <i>Revenues recognized under the percentage-of-completion method</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company uses the percentage-of-completion method on long-term project contracts that have the following characteristics:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">The contracts call for products which are designed to customer specifications;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">The structural designs are unique and require significant engineering and manufacturing efforts generally requiring more than one year in duration;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">The contracts contain specific terms as to milestones, progress billings and delivery dates; and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">Product requirements cannot be filled directly from the Company&#x2019;s standard inventory.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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&#x2019;s estimates of total costs and costs to complete have approximated actual costs incurred to complete the project.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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 September&#xA0;30, 2015 and December&#xA0;31, 2014, receivables included $87.2 million and $68.0 million of unbilled receivables, respectively. For the quarter ended September&#xA0;30, 2015, there were 9 projects representing approximately 17% of the Company&#x2019;s total revenue and approximately 22% of its product revenues that were accounted for using percentage-of-completion accounting, compared to 14 projects during the third quarter of 2014, which represented approximately 15% of the Company&#x2019;s total revenues and approximately 18% of its product revenues. For the nine months ended September&#xA0;30, 2015, there were 14 projects representing approximately 16% of the Company&#x2019;s total revenues and approximately 20% of its product revenues, compared to 17 projects representing approximately 10% of the Company&#x2019;s total revenues and approximately 13% of its product revenues for the nine months ended September&#xA0;30, 2014, all of which were accounted for using percentage-of-completion accounting.</p> </div>
us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 0pt"> <i>Revenue Recognition</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 6pt"> <i>Product Revenue</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company earns product revenues from two methods:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">product revenues recognized under the percentage-of-completion method; and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">product revenues from the sale of products that do not qualify for the percentage-of-completion method.</td> </tr> </table> </div>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
188000 shares
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Registrant Name
EntityRegistrantName
DRIL-QUIP INC
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38789000 shares
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <i>Revisions</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company has corrected its Condensed Consolidated Statements of Cash Flows for the nine-month period ended September&#xA0;30, 2014, to reflect a $6.7 million reclassification adjustment from changes in prepaids and other assets to changes in accounts payable and accrued expenses related to the 2014 beginning balances. There was no impact on the net cash provided by operating activities or any other reported cash flow amounts as a result of the reclassifications. The Company has evaluated the impact of this revision and determined that it was not material.</p> </div>
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38601000 shares
dei Document Period End Date
DocumentPeriodEndDate
2015-09-30
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <i>Use of Estimates</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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.</p> </div>
dei Trading Symbol
TradingSymbol
DRQ
us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <i>Service revenue</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The Company earns service revenues from three sources:</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">technical advisory assistance;</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">rental of running tools; and</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 6pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td width="5%">&#xA0;</td> <td valign="top" width="2%" align="left">&#x2022;</td> <td valign="top" width="1%">&#xA0;</td> <td valign="top" align="left">rework and reconditioning of customer-owned Dril-Quip products.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> 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&#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.</p> <p style="MARGIN-BOTTOM: 0px; FONT-SIZE: 1px; MARGIN-TOP: 12px"> &#xA0;</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 0pt; TEXT-INDENT: 4%"> 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 assistance services. The customer may use a third party or their own personnel.</p> </div>
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.72
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16746000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
57000
us-gaap Net Income Loss
NetIncomeLoss
143654000
us-gaap Revenues
Revenues
642680000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
40911000
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
121267000
us-gaap Operating Income Loss
OperatingIncomeLoss
188527000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-8993000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
8747000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-43792000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-60329000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-73000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
99862000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
189076000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
521413000
us-gaap Investment Income Interest
InvestmentIncomeInterest
559000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
45422000
us-gaap Share Based Compensation
ShareBasedCompensation
9794000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
98264000
us-gaap Interest Expense
InterestExpense
10000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-16563000
us-gaap Costs And Expenses
CostsAndExpenses
454153000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-38902000
us-gaap Cost Of Services
CostOfServices
57655000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-7420000
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
183000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-70658000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1952000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-5009000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
57000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
67871000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
293279000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22777000
us-gaap Cost Of Revenue
CostOfRevenue
350934000
drq Number Of Geographic Segments
NumberOfGeographicSegments
3 Segment
drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.20 pure
drq Number Of Projects
NumberOfProjects
14 Project
drq Number Of Product Revenue Sources
NumberOfProductRevenueSources
2 Method
drq Number Of Head Quarter Locations
NumberOfHeadQuarterLocations
3 Location
drq Engineering And Product Development
EngineeringAndProductDevelopment
35348000
drq Number Of Service Revenue Sources
NumberOfServiceRevenueSources
3 Source
drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
drq Reporting Information Eliminations
ReportingInformationEliminations
52010000
drq Revenue From Inter Company Transactions
RevenueFromInterCompanyTransactions
52010000
drq Percentage Of Cumulative Revenue
PercentageOfCumulativeRevenue
0.16 pure
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.40
CY2014Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
250000 shares
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39880000 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39630000 shares
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.41
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
55683000
CY2014Q3 us-gaap Revenues
Revenues
241750000
CY2014Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
42923000
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
72992000
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-28432000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
27251000
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
73195000
CY2014Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
198827000
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
206000
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17512000
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
3000000
CY2014Q3 us-gaap Interest Expense
InterestExpense
3000
CY2014Q3 us-gaap Costs And Expenses
CostsAndExpenses
168758000
CY2014Q3 us-gaap Cost Of Services
CostOfServices
21608000
CY2014Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20845000
CY2014Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
113642000
CY2014Q3 us-gaap Cost Of Revenue
CostOfRevenue
135250000
CY2014Q3 drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.18 pure
CY2014Q3 drq Number Of Projects
NumberOfProjects
14 Project
CY2014Q3 drq Engineering And Product Development
EngineeringAndProductDevelopment
12663000
CY2014Q3 drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
CY2014Q3 drq Reporting Information Eliminations
ReportingInformationEliminations
26913000
CY2014Q3 drq Revenue From Inter Company Transactions
RevenueFromInterCompanyTransactions
26913000
CY2014Q3 drq Percentage Of Cumulative Revenue
PercentageOfCumulativeRevenue
0.15 pure
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
CY2015Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
201000 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38548000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38347000 shares
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.32
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
50777000
CY2015Q3 us-gaap Revenues
Revenues
201402000
CY2015Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
43612000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
64255000
CY2015Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-33099000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
17678000
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
64596000
CY2015Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
157790000
CY2015Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
345000
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13819000
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
3300000
CY2015Q3 us-gaap Interest Expense
InterestExpense
4000
CY2015Q3 us-gaap Costs And Expenses
CostsAndExpenses
137147000
CY2015Q3 us-gaap Cost Of Services
CostOfServices
19209000
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
17280000
CY2015Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
88923000
CY2015Q3 us-gaap Cost Of Revenue
CostOfRevenue
108132000
CY2015Q3 drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.22 pure
CY2015Q3 drq Number Of Projects
NumberOfProjects
9 Project
CY2015Q3 drq Engineering And Product Development
EngineeringAndProductDevelopment
11735000
CY2015Q3 drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
CY2015Q3 drq Reporting Information Eliminations
ReportingInformationEliminations
20043000
CY2015Q3 drq Revenue From Inter Company Transactions
RevenueFromInterCompanyTransactions
20043000
CY2015Q3 drq Percentage Of Cumulative Revenue
PercentageOfCumulativeRevenue
0.17 pure

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