$MIDD
Middleby Corp

2011 Q1 Form 10-K Financial Statement

#000114420412015141 Filed on March 15, 2012

View on sec.gov

Income Statement

Concept 2011 Q1 2010 Q4 2010 Q3
Revenue $207.2M $177.8M $173.4M
YoY Change 35.87% 15.45% 9.34%
Cost Of Revenue $124.1M $107.1M $104.0M
YoY Change 32.02% 16.41% 6.89%
Gross Profit $83.10M $70.70M $69.40M
YoY Change 42.05% 14.03% 13.21%
Gross Profit Margin 40.11% 39.77% 40.02%
Selling, General & Admin $48.50M $38.70M $39.70M
YoY Change 60.6% 13.82% 15.41%
% of Gross Profit 58.36% 54.74% 57.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.300M $3.849M $3.891M
YoY Change 32.5% 1.29% 34.17%
% of Gross Profit 6.38% 5.44% 5.61%
Operating Expenses $48.50M $38.70M $39.70M
YoY Change 60.6% 14.16% 15.41%
Operating Profit $34.61M $32.01M $29.73M
YoY Change 22.31% 13.92% 10.52%
Interest Expense -$1.700M -$2.200M -$2.200M
YoY Change -39.29% -21.43% -24.14%
% of Operating Profit -4.91% -6.87% -7.4%
Other Income/Expense, Net $500.0K $100.0K -$200.0K
YoY Change 0.0% 0.0% -60.0%
Pretax Income $33.40M $30.00M $27.30M
YoY Change 28.46% 18.11% 15.68%
Income Tax $12.40M $9.400M $9.800M
% Of Pretax Income 37.13% 31.33% 35.9%
Net Earnings $21.00M $20.60M $17.50M
YoY Change 17.32% 32.9% 27.74%
Net Earnings / Revenue 10.14% 11.59% 10.09%
Basic Earnings Per Share $1.18 $1.16 $0.98
Diluted Earnings Per Share $1.13 $1.13 $0.96
COMMON SHARES
Basic Shares Outstanding 17.82M shares 17.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2011 Q1 2010 Q4 2010 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.700M $6.000M $7.400M
YoY Change -8.33% -45.45% -7.5%
Cash & Equivalents $40.22M $7.656M $7.400M
Short-Term Investments
Other Short-Term Assets $37.50M $38.50M $41.00M
YoY Change -4.09% -6.78% 11.41%
Inventory $106.5M $106.1M $90.20M
Prepaid Expenses
Receivables $112.0M $102.7M $94.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $263.7M $253.3M $233.4M
YoY Change 21.52% 12.43% 5.37%
LONG-TERM ASSETS
Property, Plant & Equipment $43.70M $44.80M $44.40M
YoY Change -7.61% -3.03% -5.53%
Goodwill $526.0M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.600M $5.500M $4.400M
YoY Change 69.23% 61.76% 51.72%
Total Long-Term Assets $609.5M $72.33M $590.5M
YoY Change 1.7% -87.9% -1.52%
TOTAL ASSETS
Total Short-Term Assets $263.7M $253.3M $233.4M
Total Long-Term Assets $609.5M $72.33M $590.5M
Total Assets $2.761B $866.6M $823.9M
YoY Change 238.23% 5.28% 0.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.90M $51.70M $44.70M
YoY Change 37.05% 29.57% 25.21%
Accrued Expenses $112.5M $95.60M $80.50M
YoY Change 30.51% -16.43% -25.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.100M $5.300M $5.700M
YoY Change -32.0% -23.19% -5.0%
Total Short-Term Liabilities $183.9M $170.2M $146.0M
YoY Change 25.61% -1.62% -9.2%
LONG-TERM LIABILITIES
Long-Term Debt $208.9M $238.3M $243.3M
YoY Change -22.08% -17.29% -22.79%
Other Long-Term Liabilities $43.60M $44.10M $43.50M
YoY Change -3.11% 44.59% 41.23%
Total Long-Term Liabilities $252.5M $282.4M $286.8M
YoY Change -19.35% -11.36% -17.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $183.9M $170.2M $146.0M
Total Long-Term Liabilities $252.5M $282.4M $286.8M
Total Liabilities $448.3M $466.9M $447.3M
YoY Change -5.36% -7.36% -13.78%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $650.0M $399.7M $376.6M
YoY Change
Total Liabilities & Shareholders Equity $873.2M $866.6M $823.9M
YoY Change 6.97% 5.27% 0.34%

Cashflow Statement

Concept 2011 Q1 2010 Q4 2010 Q3
OPERATING ACTIVITIES
Net Income $21.00M $20.60M $17.50M
YoY Change 17.32% 32.9% 27.74%
Depreciation, Depletion And Amortization $5.300M $3.849M $3.891M
YoY Change 32.5% 1.29% 34.17%
Cash From Operating Activities $31.80M $34.10M $25.30M
YoY Change 34.75% 13.67% -32.17%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K $603.0K $1.004M
YoY Change -75.0% -167.0% -147.81%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$23.10M -$1.000M
YoY Change -100.0% -91.23%
Cash From Investing Activities -$100.0K -$23.80M -$2.000M
YoY Change -98.48% 2544.44% -85.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -30.10M -11.90M -23.90M
YoY Change 42.65% -54.23% -5.91%
NET CHANGE
Cash From Operating Activities 31.80M 34.10M 25.30M
Cash From Investing Activities -100.0K -23.80M -2.000M
Cash From Financing Activities -30.10M -11.90M -23.90M
Net Change In Cash 1.600M -1.600M -600.0K
YoY Change -139.02% -151.61% -64.71%
FREE CASH FLOW
Cash From Operating Activities $31.80M $34.10M $25.30M
Capital Expenditures -$200.0K $603.0K $1.004M
Free Cash Flow $32.00M $33.50M $24.30M
YoY Change 31.15% 8.4% -38.34%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.26
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.00
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.06
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.87
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
34613000
CY2011Q4 us-gaap Assets
Assets
1146512000
CY2011Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
779129000
CY2010Q1 us-gaap Assets
Assets
816346000
CY2010Q1 us-gaap Assets Noncurrent
AssetsNoncurrent
599320000
CY2011Q1 us-gaap Assets
Assets
873172000
CY2011Q1 us-gaap Assets Noncurrent
AssetsNoncurrent
609513000
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.15
CY2011 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
19708000
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.30
CY2011 us-gaap Sales Revenue Net
SalesRevenueNet
855907000
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
148710000
CY2011 midd Capital Expenditures Net
CapitalExpendituresNet
7840000
CY2010 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15888000
CY2010 us-gaap Sales Revenue Net
SalesRevenueNet
646629000
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
111441000
CY2010 midd Capital Expenditures Net
CapitalExpendituresNet
5730000
CY2011 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.97
CY2011 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17014000
CY2011 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.09
CY2011 us-gaap Sales Revenue Net
SalesRevenueNet
719121000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.92
CY2010Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
CY2010Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
CY2010Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.96
CY2010Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.98
CY2010Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.13
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
122788000
CY2011 midd Capital Expenditures Net
CapitalExpendituresNet
3159000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.30
CY2010Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.16
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.09
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.13
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.18

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