$INVX
Innovex International, Inc.

2019 Q1 Form 10-Q Financial Statement

#000156459019013109 Filed on April 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $94.32M $99.17M
YoY Change -4.9% -16.82%
Cost Of Revenue $69.38M $73.49M
YoY Change -5.59% -10.86%
Gross Profit $24.94M $25.69M
YoY Change -2.91% -30.17%
Gross Profit Margin 26.44% 25.9%
Selling, General & Admin $24.54M $27.55M
YoY Change -10.9% 6.74%
% of Gross Profit 98.41% 107.24%
Research & Development $3.600M $9.400M
YoY Change -61.7% -21.01%
% of Gross Profit 14.43% 36.59%
Depreciation & Amortization $8.356M $8.241M
YoY Change 1.4% -16.18%
% of Gross Profit 33.5% 32.08%
Operating Expenses $24.54M $27.55M
YoY Change -10.9% 6.74%
Operating Profit -$5.603M -$6.277M
YoY Change -10.74% 621.49%
Interest Expense $121.0K $2.000K
YoY Change 5950.0% -86.67%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$3.718M -$4.482M
YoY Change -17.05% -8719.23%
Income Tax $2.333M $2.901M
% Of Pretax Income
Net Earnings -$6.051M -$7.383M
YoY Change -18.04% -7954.26%
Net Earnings / Revenue -6.42% -7.44%
Basic Earnings Per Share -$0.17 -$0.20
Diluted Earnings Per Share -$0.17 -$0.20
COMMON SHARES
Basic Shares Outstanding 35.56M 37.73M
Diluted Shares Outstanding 35.56M 37.73M

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $414.8M $495.6M
YoY Change -16.3% 19.65%
Cash & Equivalents $414.8M $495.6M
Short-Term Investments
Other Short-Term Assets $25.83M $36.62M
YoY Change -29.47% -3.14%
Inventory $194.5M $276.0M
Prepaid Expenses
Receivables $208.2M $193.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $843.3M $1.002B
YoY Change -15.85% -0.51%
LONG-TERM ASSETS
Property, Plant & Equipment $270.4M $288.5M
YoY Change -6.25% -9.85%
Goodwill $7.780M $47.82M
YoY Change -83.73% 2.8%
Intangibles $34.47M $46.31M
YoY Change -25.55% -4.03%
Long-Term Investments
YoY Change
Other Assets $15.47M $16.08M
YoY Change -3.84% -4.19%
Total Long-Term Assets $340.4M $395.7M
YoY Change -13.98% -11.32%
TOTAL ASSETS
Total Short-Term Assets $843.3M $1.002B
Total Long-Term Assets $340.4M $395.7M
Total Assets $1.184B $1.398B
YoY Change -15.32% -3.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.66M $25.28M
YoY Change -18.29% -1.63%
Accrued Expenses $32.90M $28.50M
YoY Change 15.44% -1.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K
YoY Change
Total Short-Term Liabilities $70.73M $87.24M
YoY Change -18.92% 4.86%
LONG-TERM LIABILITIES
Long-Term Debt $400.0K $0.00
YoY Change
Other Long-Term Liabilities $2.396M $2.001M
YoY Change 19.74%
Total Long-Term Liabilities $2.396M $2.001M
YoY Change 19.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.73M $87.24M
Total Long-Term Liabilities $2.396M $2.001M
Total Liabilities $88.32M $92.75M
YoY Change -4.78% 8.49%
SHAREHOLDERS EQUITY
Retained Earnings $1.199B $1.394B
YoY Change -14.01% -7.14%
Common Stock $40.19M $24.35M
YoY Change 65.09% 157.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.095B $1.305B
YoY Change
Total Liabilities & Shareholders Equity $1.184B $1.398B
YoY Change -15.32% -3.83%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$6.051M -$7.383M
YoY Change -18.04% -7954.26%
Depreciation, Depletion And Amortization $8.356M $8.241M
YoY Change 1.4% -16.18%
Cash From Operating Activities $838.0K $11.39M
YoY Change -92.64% -0.77%
INVESTING ACTIVITIES
Capital Expenditures $3.527M $10.57M
YoY Change -66.64% 118.09%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $300.0K $100.0K
YoY Change 200.0% -100.52%
Cash From Investing Activities -$3.186M -$10.50M
YoY Change -69.66% -56.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.116M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.116M 52.00K
YoY Change -2246.15% -87.1%
NET CHANGE
Cash From Operating Activities 838.0K 11.39M
Cash From Investing Activities -3.186M -10.50M
Cash From Financing Activities -1.116M 52.00K
Net Change In Cash -3.292M 940.0K
YoY Change -450.21% -107.58%
FREE CASH FLOW
Cash From Operating Activities $838.0K $11.39M
Capital Expenditures $3.527M $10.57M
Free Cash Flow -$2.689M $817.0K
YoY Change -429.13% -87.68%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2019Q1 dei Document Type
DocumentType
10-Q
CY2019Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2019Q1 dei Amendment Flag
AmendmentFlag
false
CY2019Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2019Q1 dei Document Period End Date
DocumentPeriodEndDate
2019-03-31
CY2019Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
CY2019Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3970000
CY2018Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3138000
CY2019Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
12834000
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
9648000
CY2019Q1 dei Trading Symbol
TradingSymbol
DRQ
CY2019Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8446000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10537000
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1176000
CY2019Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
23648000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
32242000
CY2019Q1 us-gaap Liabilities Current
LiabilitiesCurrent
70729000
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
414808000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
418100000
CY2019Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
208156000
CY2018Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
202165000
CY2019Q1 us-gaap Inventory Net
InventoryNet
194547000
CY2018Q4 us-gaap Inventory Net
InventoryNet
191194000
CY2019Q1 us-gaap Other Assets Current
OtherAssetsCurrent
25829000
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
41522000
CY2019Q1 us-gaap Assets Current
AssetsCurrent
843340000
CY2018Q4 us-gaap Assets Current
AssetsCurrent
852981000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4401000
CY2019Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
270424000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
274123000
CY2019Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
7843000
CY2018Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
7995000
CY2019Q1 us-gaap Goodwill
Goodwill
7780000
CY2018Q4 us-gaap Goodwill
Goodwill
7714000
CY2019Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
34474000
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
34974000
CY2019Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
15467000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
14723000
CY2019Q1 us-gaap Assets
Assets
1183729000
CY2018Q4 us-gaap Assets
Assets
1192510000
CY2019Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
20655000
CY2018Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
26693000
CY2019Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2019Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
36228006
CY2019Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2019Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2018Q4 us-gaap Liabilities Current
LiabilitiesCurrent
82258000
CY2019Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
2332000
CY2018Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
2466000
CY2019Q1 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
9678000
CY2018Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
9623000
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3189000
CY2019Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2396000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2001000
CY2019Q1 us-gaap Liabilities
Liabilities
88324000
CY2018Q4 us-gaap Liabilities
Liabilities
96348000
CY2019Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q1 us-gaap Common Stock Value
CommonStockValue
376000
CY2018Q4 us-gaap Common Stock Value
CommonStockValue
376000
CY2019Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
39815000
CY2018Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
34953000
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1198700000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1205946000
CY2019Q1 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-143486000
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-145113000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
1095405000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1096162000
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1183729000
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1192510000
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2019Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
36212740
CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
36264001
CY2019Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
36212740
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
36264001
CY2019Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
10407000
CY2018Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
10665000
CY2019Q1 us-gaap Revenues
Revenues
94317000
CY2018Q1 us-gaap Revenues
Revenues
99173000
CY2019Q1 us-gaap Cost Of Revenue
CostOfRevenue
69376000
CY2018Q1 us-gaap Cost Of Revenue
CostOfRevenue
73485000
CY2019Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24544000
CY2018Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
27547000
CY2019Q1 drq Engineering And Product Development
EngineeringAndProductDevelopment
3617000
CY2018Q1 drq Engineering And Product Development
EngineeringAndProductDevelopment
4418000
CY2019Q1 drq Restructuring And Other Charges
RestructuringAndOtherCharges
2396000
CY2019Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
13000
CY2019Q1 us-gaap Costs And Expenses
CostsAndExpenses
99920000
CY2018Q1 us-gaap Costs And Expenses
CostsAndExpenses
105450000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5603000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-6277000
CY2019Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
2006000
CY2018Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1797000
CY2019Q1 us-gaap Interest Expense
InterestExpense
121000
CY2018Q1 us-gaap Interest Expense
InterestExpense
2000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3718000
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4482000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2333000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2901000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-6051000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-7383000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
35559000
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37729000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
35559000
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37729000
CY2019Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
1627000
CY2018Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
13121000
CY2019Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4424000
CY2018Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5738000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8356000
CY2018Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
8241000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4862000
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3974000
CY2019Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
1271000
CY2018Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
0
CY2018Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
22000
CY2019Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-73000
CY2018Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-5000
CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5597000
CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1195000
CY2019Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2700000
CY2018Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-17244000
CY2019Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-15960000
CY2018Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
4076000
CY2019Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-14478000
CY2018Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7403000
CY2019Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-699000
CY2018Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-377000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
838000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11388000
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3527000
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10571000
CY2019Q1 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
341000
CY2018Q1 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
71000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3186000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10500000
CY2019Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1116000
CY2018Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
52000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1116000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
52000
CY2019Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
172000
CY2018Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
1471000
CY2019Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3292000
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2411000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
493180000
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
495591000
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1116000
CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4862000
CY2019Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
-79000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1294461000
CY2018Q1 us-gaap Cumulative Effect On Retained Earnings Net Of Tax1
CumulativeEffectOnRetainedEarningsNetOfTax1
1786000
CY2018Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3974000
CY2018Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
-850000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
1305109000
CY2019Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
28078000
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:2.36%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.17%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8217;s more significant estimates are those affected by critical accounting policies for revenue recognition, inventories and contingent liabilities.</p>
CY2019Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:2.36%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Lease revenues</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.17%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company earns lease revenues from the rental of running tools. Rental revenues are recognized within leasing revenues on a day rate basis over the lease term, which is generally between one to three months.</p>
CY2019Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
50775000
CY2019Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
195000000
CY2018Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
120200000
CY2019Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
15400000
CY2019Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
67700000
CY2019Q1 drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
CY2018Q1 drq Allocated Share Based Compensation Expense Capitalized
AllocatedShareBasedCompensationExpenseCapitalized
0
CY2019Q1 drq Number Of Geographic Segments
NumberOfGeographicSegments
3
CY2019Q1 drq Number Of Head Quarter Locations
NumberOfHeadQuarterLocations
3
CY2019Q1 drq Number Of Product Revenue Sources
NumberOfProductRevenueSources
2
CY2019Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
66700000
CY2018Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
57000000
CY2019Q1 drq Number Of Projects
NumberOfProjects
21
CY2018Q1 drq Number Of Projects
NumberOfProjects
8
CY2019Q1 drq Percentage Of Cumulative Revenue
PercentageOfCumulativeRevenue
0.180
CY2018Q1 drq Percentage Of Cumulative Revenue
PercentageOfCumulativeRevenue
0.110
CY2019Q1 drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.260
CY2018Q1 drq Percentage Of Product Revenue
PercentageOfProductRevenue
0.160
CY2019Q1 drq Number Of Service Revenue Sources
NumberOfServiceRevenueSources
2
CY2019Q1 us-gaap Severance Costs1
SeveranceCosts1
2400000
CY2019Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
39.74
CY2019Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2018Q1 drq Reclassified From Engineering Cost To Product Development Cost
ReclassifiedFromEngineeringCostToProductDevelopmentCost
5000000
CY2018Q1 drq Reclassified From Selling General And Administrative Cost To Product Cost Of Sales
ReclassifiedFromSellingGeneralAndAdministrativeCostToProductCostOfSales
700000
CY2019Q1 drq Engineering Cost
EngineeringCost
4200000
CY2019Q1 drq Quality Assurance Cost
QualityAssuranceCost
800000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
83910000
CY2018Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
83188000
CY2019Q1 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
39447000
CY2019Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
19090000
CY2019Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
103545000
CY2018Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
55878000
CY2019Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
58105000
CY2018Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
51251000
CY2019Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
188457000
CY2018Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
192632000
CY2019Q1 us-gaap Inventory Gross
InventoryGross
297337000
CY2018Q4 us-gaap Inventory Gross
InventoryGross
299761000
CY2019Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
102790000
CY2018Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
108567000
CY2019Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
66000
CY2019Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
172000
CY2019Q1 drq Indefinite Lived Intangible Assets Accumulated Foreign Currency Translation Gain Loss
IndefiniteLivedIntangibleAssetsAccumulatedForeignCurrencyTranslationGainLoss
4000
CY2019Q1 drq Indefinite Lived Intangible Assets Excluding Goodwill Net
IndefiniteLivedIntangibleAssetsExcludingGoodwillNet
176000
CY2019Q1 drq Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
40234000
CY2019Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5879000
CY2019Q1 drq Finite Lived Intangible Assets Accumulated Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsAccumulatedForeignCurrencyTranslationGainLoss
119000
CY2018Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
172000
CY2018Q4 drq Indefinite Lived Intangible Assets Excluding Goodwill Net
IndefiniteLivedIntangibleAssetsExcludingGoodwillNet
172000
CY2018Q4 drq Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
40308000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4991000
CY2018Q4 drq Finite Lived Intangible Assets Accumulated Foreign Currency Translation Gain Loss
FiniteLivedIntangibleAssetsAccumulatedForeignCurrencyTranslationGainLoss
-343000
CY2019Q1 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
5500000
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1600000
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3900000
CY2019Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
CY2019Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
722000
CY2019Q1 drq Operating Lease And Finance Lease Right Of Use Asset Net
OperatingLeaseAndFinanceLeaseRightOfUseAssetNet
5123000
CY2019Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
361000
CY2019Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
397000
CY2019Q1 drq Operating And Finance Lease Liability Net
OperatingAndFinanceLeaseLiabilityNet
5123000
CY2019Q1 us-gaap Lease Cost
LeaseCost
475000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1109000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1128000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
479000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
280000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
181000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
2827000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6004000
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1566000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4438000
CY2019Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
303000
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
241000
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
142000
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
47000
CY2019Q1 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
19000
CY2019Q1 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
95000
CY2019Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
847000
CY2019Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
83000
CY2019Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
764000
CY2019Q1 drq Lessee Operating Lease And Finance Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1412000
CY2019Q1 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year Two
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearTwo
1369000
CY2019Q1 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year Three
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearThree
621000
CY2019Q1 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year Four
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFour
327000
CY2019Q1 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year Five
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFive
200000
CY2019Q1 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year After Year Five
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearAfterYearFive
2922000
CY2019Q1 drq Lessee Operating Lease And Finance Lease Liability Payments Due
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDue
6851000
CY2019Q1 drq Lessee Operating Lease And Finance Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseAndFinanceLeaseLiabilityUndiscountedExcessAmount
1649000
CY2019Q1 drq Operating Lease And Finance Lease Liability
OperatingLeaseAndFinanceLeaseLiability
5202000
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y4M24D
CY2019Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0479
CY2019Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0433
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
368000
CY2019Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
9000
CY2018Q4 drq Lessee Operating Lease And Finance Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2000000
CY2018Q4 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year Two
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearTwo
1500000
CY2018Q4 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year Three
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearThree
800000
CY2018Q4 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year Four
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFour
50000
CY2018Q4 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year Five
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearFive
400000
CY2018Q4 drq Lessee Operating Lease And Finance Lease Liability Payments Due Year After Year Five
LesseeOperatingLeaseAndFinanceLeaseLiabilityPaymentsDueYearAfterYearFive
4200000
CY2019Q1 us-gaap Noncurrent Assets
NoncurrentAssets
340389000
CY2018Q4 us-gaap Noncurrent Assets
NoncurrentAssets
339529000
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.627
CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.647

Files In Submission

Name View Source Status
0001564590-19-013109-index-headers.html Edgar Link pending
0001564590-19-013109-index.html Edgar Link pending
0001564590-19-013109.txt Edgar Link pending
0001564590-19-013109-xbrl.zip Edgar Link pending
drq-10q_20190331.htm Edgar Link pending
drq-20190331.xml Edgar Link completed
drq-20190331.xsd Edgar Link pending
drq-20190331_cal.xml Edgar Link unprocessable
drq-20190331_def.xml Edgar Link unprocessable
drq-20190331_lab.xml Edgar Link unprocessable
drq-20190331_pre.xml Edgar Link unprocessable
drq-ex311_9.htm Edgar Link pending
drq-ex312_8.htm Edgar Link pending
drq-ex321_7.htm Edgar Link pending
drq-ex322_6.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx 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
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.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