2013 Q1 Form 10-Q Financial Statement

#000144530513000511 Filed on March 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $185.7M $161.6M
YoY Change 14.94% 1.11%
Cost Of Revenue $83.29M $138.0M
YoY Change -39.66% -1.15%
Gross Profit $102.4M $23.54M
YoY Change 335.14% 16.79%
Gross Profit Margin 55.15% 14.57%
Selling, General & Admin $27.05M $25.15M
YoY Change 7.55% 23.9%
% of Gross Profit 26.41% 106.86%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.657M $9.706M
YoY Change -0.5% 29.41%
% of Gross Profit 9.43% 41.24%
Operating Expenses $27.05M $25.15M
YoY Change 7.55% -9.53%
Operating Profit -$9.029M -$11.30M
YoY Change -20.13% 47.46%
Interest Expense $139.0K $126.0K
YoY Change 10.32% -226.0%
% of Operating Profit
Other Income/Expense, Net -$91.00K $217.0K
YoY Change -141.94% 117.0%
Pretax Income -$13.92M -$11.21M
YoY Change 24.1% 137.16%
Income Tax $5.797M -$4.500M
% Of Pretax Income
Net Earnings -$8.118M -$6.748M
YoY Change 20.3% 42.36%
Net Earnings / Revenue -4.37% -4.18%
Basic Earnings Per Share -$0.22 -$0.18
Diluted Earnings Per Share -$0.22 -$0.18
COMMON SHARES
Basic Shares Outstanding 36.81M shares 36.55M shares
Diluted Shares Outstanding 36.81M shares 36.55M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.600M $81.70M
YoY Change -94.37% -55.23%
Cash & Equivalents $4.558M $81.72M
Short-Term Investments
Other Short-Term Assets $35.30M $24.20M
YoY Change 45.87% 7.08%
Inventory $84.56M $64.20M
Prepaid Expenses
Receivables $78.00M $59.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $202.4M $230.0M
YoY Change -11.98% -25.93%
LONG-TERM ASSETS
Property, Plant & Equipment $178.8M $159.0M
YoY Change 12.45% 18.22%
Goodwill $71.51M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.29M $23.70M
YoY Change -35.5% -49.03%
Total Long-Term Assets $359.9M $335.9M
YoY Change 7.13% 34.31%
TOTAL ASSETS
Total Short-Term Assets $202.4M $230.0M
Total Long-Term Assets $359.9M $335.9M
Total Assets $562.3M $565.9M
YoY Change -0.64% 0.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $72.05M $57.20M
YoY Change 25.97% 7.12%
Accrued Expenses $32.80M $37.40M
YoY Change -12.31% 21.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K $400.0K
YoY Change 0.0% 33.33%
Total Short-Term Liabilities $105.2M $94.90M
YoY Change 10.88% 12.44%
LONG-TERM LIABILITIES
Long-Term Debt $1.100M $1.300M
YoY Change -15.38% -18.75%
Other Long-Term Liabilities $16.88M $42.70M
YoY Change -60.48% 9.21%
Total Long-Term Liabilities $16.88M $44.00M
YoY Change -61.64% 8.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $105.2M $94.90M
Total Long-Term Liabilities $16.88M $44.00M
Total Liabilities $147.2M $139.0M
YoY Change 5.9% 11.11%
SHAREHOLDERS EQUITY
Retained Earnings $183.4M
YoY Change
Common Stock $378.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.961M
YoY Change
Treasury Stock Shares 707.0K shares
Shareholders Equity $415.1M $426.9M
YoY Change
Total Liabilities & Shareholders Equity $562.3M $565.9M
YoY Change -0.64% 0.95%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income -$8.118M -$6.748M
YoY Change 20.3% 42.36%
Depreciation, Depletion And Amortization $9.657M $9.706M
YoY Change -0.5% 29.41%
Cash From Operating Activities -$30.34M $2.073M
YoY Change -1563.58% 88.45%
INVESTING ACTIVITIES
Capital Expenditures $11.50M $8.024M
YoY Change 43.32% -295.71%
Acquisitions $22.45M $0.00
YoY Change
Other Investing Activities -$16.00K $0.00
YoY Change -100.0%
Cash From Investing Activities -$33.93M -$8.024M
YoY Change 322.89% 136.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $1.284M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$1.900M -$2.430M
YoY Change -21.81% 1.25%
NET CHANGE
Cash From Operating Activities -$30.34M $2.073M
Cash From Investing Activities -$33.93M -$8.024M
Cash From Financing Activities -$1.900M -$2.430M
Net Change In Cash -$66.17M -$8.381M
YoY Change 689.56% 78.32%
FREE CASH FLOW
Cash From Operating Activities -$30.34M $2.073M
Capital Expenditures $11.50M $8.024M
Free Cash Flow -$41.84M -$5.951M
YoY Change 603.08% -214.44%

Facts In Submission

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CY2013Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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PaymentsOfDebtIssuanceCosts
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CY2013Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
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CY2012Q4 us-gaap Preferred Stock No Par Value
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0.00
CY2013Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.00
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2013Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2013Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2013Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
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CY2012Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
344000 USD
CY2012Q4 us-gaap Product Warranty Accrual
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CY2013Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
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ProductWarrantyAccrualClassifiedCurrent
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CY2013Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
2614000 USD
CY2013Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
240000 USD
CY2013Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
121000 USD
CY2013Q1 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
4200000 USD
CY2012Q4 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
4200000 USD
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PropertyPlantAndEquipmentNet
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PropertyPlantAndEquipmentNet
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436000 USD
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25000 USD
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20000 USD
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CY2012Q1 us-gaap Restructuring Charges
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CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
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SalesRevenueGoodsNet
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CY2013Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.49
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
14813000 USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.57
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
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CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
15.44
CY2013Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.38
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
20.99
CY2013Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
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CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y6M
CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2013Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2013Q1 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
2700000 USD
CY2013Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2013Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2013Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
508000 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
415100000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
421827000 USD
CY2013Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
520000 USD
CY2013Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
706999 shares
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
816302 shares
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
11501000 USD
CY2013Q1 us-gaap Treasury Stock Value
TreasuryStockValue
9961000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
15800000 USD
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36809000 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36547000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36547000 shares
CY2013Q1 nx Line Of Credit Facility Additional Aggregate Commitments Increase Limit
LineOfCreditFacilityAdditionalAggregateCommitmentsIncreaseLimit
100000000 USD
CY2013Q1 nx Line Of Credit Facility Total Commitments Limit
LineOfCreditFacilityTotalCommitmentsLimit
250000000 USD
CY2013Q1 nx Number Of Reportable Business Segments
NumberOfReportableBusinessSegments
2 operating_segment
CY2013Q1 nx Payment Term
PaymentTerm
P5Y
CY2013Q1 nx Percentage Of Environmental Remediation Costs Reimbursed
PercentageOfEnvironmentalRemediationCostsReimbursed
0.90
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36809000 shares
CY2013Q1 nx Accrued Liabilities Administrative And Legal Costs
AccruedLiabilitiesAdministrativeAndLegalCosts
1100000 USD
CY2012Q4 nx Business Acquisition Purchase Price Allocation Equity
BusinessAcquisitionPurchasePriceAllocationEquity
22346000 USD
CY2012Q4 nx Business Acquisition Purchase Price Allocation Liabilities Assumed And Equity
BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumedAndEquity
24958000 USD
CY2013Q1 nx Environmental Reserve Other Accrued Costs
EnvironmentalReserveOtherAccruedCosts
10100000 USD
CY2012Q1 nx Expected Effective Income Tax Rate Continuing Operations
ExpectedEffectiveIncomeTaxRateContinuingOperations
0.398
CY2013Q1 nx Expected Effective Income Tax Rate Continuing Operations
ExpectedEffectiveIncomeTaxRateContinuingOperations
0.417
CY2013Q1 nx Initial Environmental Remediation Costs Reimbursed
InitialEnvironmentalRemediationCostsReimbursed
1500000 USD
CY2013Q1 nx Unrecognized Tax Benefits That Would Not Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldNotImpactEffectiveTaxRate
14700000 USD
CY2013Q1 dei Amendment Flag
AmendmentFlag
false
CY2013Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--10-31
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-01-31
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001423221
CY2013Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
37060140 shares
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
Quanex Building Products CORP
CY2013Q1 dei Trading Symbol
TradingSymbol
NX

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