$MTRN
MATERION Corp

2012 Q4 Form 10-Q Financial Statement

#000119312512448536 Filed on November 02, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q4
Revenue $303.8M $1.483M $334.4M
YoY Change -9.17% -99.62% 2.8%
Cost Of Revenue $259.8M $238.2M $294.9M
YoY Change -11.9% -28.98% 10.41%
Gross Profit $43.97M $52.37M $39.50M
YoY Change 11.32% -8.69% -32.13%
Gross Profit Margin 14.48% 3531.29% 11.81%
Selling, General & Admin $35.00M $32.83M $33.40M
YoY Change 4.79% 1.58% 5.7%
% of Gross Profit 79.6% 62.69% 84.56%
Research & Development $3.200M $3.019M $3.100M
YoY Change 3.23% 7.02% 82.35%
% of Gross Profit 7.28% 5.76% 7.85%
Depreciation & Amortization $8.100M $8.500M $11.20M
YoY Change -27.68% -19.05% 28.74%
% of Gross Profit 18.42% 16.23% 28.35%
Operating Expenses $39.90M $35.85M $37.70M
YoY Change 5.84% 2.01% 1.34%
Operating Profit $4.072M $13.39M $1.800M
YoY Change 126.22% -22.12% -91.43%
Interest Expense -$400.0K $779.0K -$1.700M
YoY Change -76.47% -3.47% 88.89%
% of Operating Profit -9.82% 5.82% -94.44%
Other Income/Expense, Net
YoY Change
Pretax Income $200.0K $12.61M $200.0K
YoY Change 0.0% -23.03% -99.0%
Income Tax -$2.300M $4.496M -$600.0K
% Of Pretax Income -1150.0% 35.65% -300.0%
Net Earnings $2.503M $8.114M $762.0K
YoY Change 228.48% -40.02% -94.31%
Net Earnings / Revenue 0.82% 547.13% 0.23%
Basic Earnings Per Share $0.12 $0.40 $0.04
Diluted Earnings Per Share $0.12 $0.39 $0.04
COMMON SHARES
Basic Shares Outstanding 20.43M shares 20.43M shares
Diluted Shares Outstanding 20.70M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.10M $10.90M $12.30M
YoY Change 30.89% 14.74% -20.13%
Cash & Equivalents $16.06M $10.89M $12.26M
Short-Term Investments
Other Short-Term Assets $51.90M $54.70M $49.10M
YoY Change 5.7% 14.68% 24.94%
Inventory $206.1M $211.4M $187.2M
Prepaid Expenses
Receivables $126.5M $138.9M $117.8M
Other Receivables $405.0K $209.0K $4.602M
Total Short-Term Assets $401.0M $416.1M $370.9M
YoY Change 8.11% 6.26% 8.64%
LONG-TERM ASSETS
Property, Plant & Equipment $272.5M $268.6M $263.4M
YoY Change 3.47% 4.11% -2.52%
Goodwill $88.75M $86.47M $84.04M
YoY Change 5.61% 15.22%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.818M $5.348M $7.073M
YoY Change -46.02% -45.98% -83.55%
Total Long-Term Assets $413.9M $402.2M $401.2M
YoY Change 3.17% 1.39% 4.56%
TOTAL ASSETS
Total Short-Term Assets $401.0M $416.1M $370.9M
Total Long-Term Assets $413.9M $402.2M $401.2M
Total Assets $814.9M $818.4M $772.1M
YoY Change 5.55% 3.81% 6.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.28M $31.83M $39.39M
YoY Change 7.35% -16.01% 5.31%
Accrued Expenses $26.99M $55.58M $25.89M
YoY Change 4.23% 148.13% -25.81%
Deferred Revenue
YoY Change
Short-Term Debt $49.43M $57.46M $40.94M
YoY Change 20.73%
Long-Term Debt Due $583.0K $57.50M $547.0K
YoY Change 6.58% 46.31% -98.63%
Total Short-Term Liabilities $149.1M $146.6M $139.7M
YoY Change 6.73% 13.46% 1.65%
LONG-TERM LIABILITIES
Long-Term Debt $44.88M $65.03M $40.46M
YoY Change 10.92% 16.75% -30.6%
Other Long-Term Liabilities $16.17M $16.76M $16.49M
YoY Change -1.91% -89.67% -89.15%
Total Long-Term Liabilities $61.05M $81.79M $56.95M
YoY Change 7.2% -62.48% -72.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $149.1M $146.6M $139.7M
Total Long-Term Liabilities $61.05M $81.79M $56.95M
Total Liabilities $210.1M $228.4M $196.6M
YoY Change 6.86% -34.97% -43.77%
SHAREHOLDERS EQUITY
Retained Earnings $428.4M $408.4M
YoY Change 4.9%
Common Stock $191.2M $185.9M
YoY Change 2.83%
Preferred Stock
YoY Change
Treasury Stock (at cost) $118.3M $118.3M
YoY Change 0.02%
Treasury Stock Shares 6.607M shares 6.716M shares
Shareholders Equity $416.4M $430.1M $406.0M
YoY Change
Total Liabilities & Shareholders Equity $814.9M $818.4M $772.1M
YoY Change 5.55% 6.74% 6.48%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q4
OPERATING ACTIVITIES
Net Income $2.503M $8.114M $762.0K
YoY Change 228.48% -40.02% -94.31%
Depreciation, Depletion And Amortization $8.100M $8.500M $11.20M
YoY Change -27.68% -19.05% 28.74%
Cash From Operating Activities $46.00M $1.600M $68.50M
YoY Change -32.85% -88.32% 92.96%
INVESTING ACTIVITIES
Capital Expenditures -$8.800M -$7.300M -$9.500M
YoY Change -7.37% 1.39% 5.56%
Acquisitions
YoY Change
Other Investing Activities -$3.100M -$4.200M -$24.50M
YoY Change -87.35% -400.0% 3400.0%
Cash From Investing Activities -$11.90M -$11.50M -$33.90M
YoY Change -64.9% 98.28% 245.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -29.00M 5.200M -30.90M
YoY Change -6.15% -150.0% 17.05%
NET CHANGE
Cash From Operating Activities 46.00M 1.600M 68.50M
Cash From Investing Activities -11.90M -11.50M -33.90M
Cash From Financing Activities -29.00M 5.200M -30.90M
Net Change In Cash 5.100M -4.700M 3.700M
YoY Change 37.84% 88.0% -628.57%
FREE CASH FLOW
Cash From Operating Activities $46.00M $1.600M $68.50M
Capital Expenditures -$8.800M -$7.300M -$9.500M
Free Cash Flow $54.80M $8.900M $78.00M
YoY Change -29.74% -57.42% 75.28%

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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Document Type
DocumentType
10-Q
dei Document Period End Date
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2012-09-28
dei Entity Central Index Key
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0001104657
dei Current Fiscal Year End Date
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--12-31
dei Trading Symbol
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dei Entity Registrant Name
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MATERION Corp
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<div> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Note D &#x2014; Contingencies</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Materion Brush Inc., one of the Company&#x2019;s wholly owned subsidiaries, is a defendant from time to time in legal proceedings where the plaintiffs allege they have contracted chronic beryllium disease (CBD) or related ailments as a result of exposure to beryllium. The Company will record a reserve for CBD or other litigation when a loss from either settlement or verdict is probable and estimable. Claims filed by third-party plaintiffs where the alleged exposure occurred prior to December&#xA0;31, 2007 may be covered by insurance subject to an annual deductible of $1.0 million. Reserves are recorded for asserted claims only and defense costs are expensed as incurred. Late in the third quarter 2012, the Company received notice that the spouse of a former employee has filed a claim alleging she has contracted chronic beryllium disease. The Company had not yet been served with the complaint and therefore the claim had not been evaluated and no loss reserve was established as of the end of the third quarter 2012. There were no other CBD claims asserted or settled during the first nine months of 2012.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company has an active environmental compliance program and records reserves for the probable cost of identified environmental remediation projects. The reserves are established based upon analyses conducted by the Company&#x2019;s engineers and outside consultants and are adjusted from time to time based upon ongoing studies, the difference between actual and estimated costs and other factors. The reserves may also be affected by rulings and negotiations with regulatory agencies. The undiscounted reserve balance was $5.4 million as of September&#xA0;28, 2012 and $5.3 million as of December&#xA0;31, 2011. Environmental projects tend to be long-term and the final actual remediation costs may differ from the amounts currently recorded.</font></p> </div>
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