$OMI
OWENS & MINOR INC/VA/

2012 Q2 Form 10-Q Financial Statement

#000119312512319155 Filed on July 27, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $2.185B $2.131B
YoY Change 2.53% 5.52%
Cost Of Revenue $1.974B $1.915B
YoY Change 3.06% 5.55%
Gross Profit $211.4M $216.1M
YoY Change -2.15% 5.3%
Gross Profit Margin 9.67% 10.14%
Selling, General & Admin $150.3M $156.3M
YoY Change -3.86% 6.63%
% of Gross Profit 71.08% 72.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.500M $8.200M
YoY Change 3.66% 15.49%
% of Gross Profit 4.02% 3.8%
Operating Expenses $150.3M $156.3M
YoY Change -3.86% 2.17%
Operating Profit $53.18M $51.04M
YoY Change 4.19% -2.22%
Interest Expense $3.487M $3.020M
YoY Change 15.46% -186.29%
% of Operating Profit 6.56% 5.92%
Other Income/Expense, Net
YoY Change
Pretax Income $49.69M $48.02M
YoY Change 3.48% -1.4%
Income Tax $19.58M $18.86M
% Of Pretax Income 39.4% 39.27%
Net Earnings $30.11M $29.16M
YoY Change 3.25% -1.14%
Net Earnings / Revenue 1.38% 1.37%
Basic Earnings Per Share $0.48 $0.46
Diluted Earnings Per Share $0.48 $0.46
COMMON SHARES
Basic Shares Outstanding 62.82M shares 63.01M shares
Diluted Shares Outstanding 62.90M shares 63.20M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $224.9M $159.2M
YoY Change 41.27% 1.02%
Cash & Equivalents $224.9M $159.2M
Short-Term Investments
Other Short-Term Assets $72.35M $70.60M
YoY Change 2.47% 30.5%
Inventory $748.8M $751.6M
Prepaid Expenses
Receivables $485.2M $504.5M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.531B $1.486B
YoY Change 3.06% 6.75%
LONG-TERM ASSETS
Property, Plant & Equipment $103.9M $100.8M
YoY Change 3.06% 8.86%
Goodwill $248.5M
YoY Change
Intangibles $21.02M
YoY Change
Long-Term Investments
YoY Change
Other Assets $50.64M $48.30M
YoY Change 4.84% 3.43%
Total Long-Term Assets $424.0M $420.0M
YoY Change 0.96% 1.74%
TOTAL ASSETS
Total Short-Term Assets $1.531B $1.486B
Total Long-Term Assets $424.0M $420.0M
Total Assets $1.955B $1.906B
YoY Change 2.6% 5.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $559.7M $581.8M
YoY Change -3.8% 0.55%
Accrued Expenses $17.70M $18.60M
YoY Change -4.84% 24.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $707.8M $733.0M
YoY Change -3.44% 1.79%
LONG-TERM LIABILITIES
Long-Term Debt $212.0M $212.1M
YoY Change -0.05% 2.02%
Other Long-Term Liabilities $60.17M $49.10M
YoY Change 22.54% -6.3%
Total Long-Term Liabilities $60.17M $261.2M
YoY Change -76.97% 0.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $707.8M $733.0M
Total Long-Term Liabilities $60.17M $261.2M
Total Liabilities $1.005B $1.010B
YoY Change -0.46% 2.11%
SHAREHOLDERS EQUITY
Retained Earnings $644.2M
YoY Change
Common Stock $311.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $948.8M $895.8M
YoY Change
Total Liabilities & Shareholders Equity $1.955B $1.906B
YoY Change 2.6% 5.61%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $30.11M $29.16M
YoY Change 3.25% -1.14%
Depreciation, Depletion And Amortization $8.500M $8.200M
YoY Change 3.66% 15.49%
Cash From Operating Activities $40.90M -$4.800M
YoY Change -952.08% -111.14%
INVESTING ACTIVITIES
Capital Expenditures -$9.800M -$6.600M
YoY Change 48.48% -46.77%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$9.700M -$6.600M
YoY Change 46.97% -38.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.10M -15.20M
YoY Change 32.24% -27.96%
NET CHANGE
Cash From Operating Activities 40.90M -4.800M
Cash From Investing Activities -9.700M -6.600M
Cash From Financing Activities -20.10M -15.20M
Net Change In Cash 11.10M -26.60M
YoY Change -141.73% -337.5%
FREE CASH FLOW
Cash From Operating Activities $40.90M -$4.800M
Capital Expenditures -$9.800M -$6.600M
Free Cash Flow $50.70M $1.800M
YoY Change 2716.67% -96.76%

Facts In Submission

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dei Document Fiscal Period Focus
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dei Trading Symbol
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OMI
dei Entity Registrant Name
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OWENS & MINOR INC/VA/
dei Amendment Flag
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dei Entity Filer Category
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dei Document Type
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10-Q
dei Document Period End Date
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NetIncomeLossAvailableToCommonStockholdersDiluted
59053000
us-gaap Net Income Loss
NetIncomeLoss
59473000
us-gaap Restructuring Reserve Period Expense
RestructuringReservePeriodExpense
144000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1160000
us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
26400000
us-gaap Future Amortization Expense Year One
FutureAmortizationExpenseYearOne
2100000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-18042000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
89000 shares
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59052000
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Effect Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxEffectPeriodIncreaseDecrease
-16000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.44
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5460000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.94
us-gaap Depreciation And Amortization
DepreciationAndAmortization
17093000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000
us-gaap Sales Revenue Net
SalesRevenueNet
4403326000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
12697000
us-gaap Operating Income Loss
OperatingIncomeLoss
105049000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
404000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18px;margin-bottom:0px; margin-left:4%"> <font style="font-family:Times New Roman" size="2"><i>Use of Estimates</i></font></p> <p style="margin-top:6px;margin-bottom:0px; margin-left:4%"> <font style="font-family:Times New Roman" size="2">The preparation of consolidated financial statements in conformity with GAAP requires us to make assumptions and estimates that affect reported amounts and related disclosures. Actual results may differ from these estimates.</font></p> </div>
us-gaap Future Amortization Expense Year Three
FutureAmortizationExpenseYearThree
2100000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-684000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
305860000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38667000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
88999000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62825000 shares
us-gaap Interest Paid
InterestPaid
7372000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-52296000
us-gaap Payments Of Dividends
PaymentsOfDividends
27956000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.394 pure
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62914000 shares
us-gaap Inventory Lifo Reserve Effect On Income Net
InventoryLIFOReserveEffectOnIncomeNet
5223000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
2245000
us-gaap Future Amortization Expense Year Four
FutureAmortizationExpenseYearFour
2100000
us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
2504000
omi Share Based Compensation Expense Exercises And Other Value
ShareBasedCompensationExpenseExercisesAndOtherValue
6196000
omi Contractual Obligations Maturity Term
ContractualObligationsMaturityTerm
36
omi Stock Repurchased And Retired During Period Average Cost
StockRepurchasedAndRetiredDuringPeriodAverageCost
29.23
omi Undistributed Income Attributable To Unvested Restricted Shares Basic
UndistributedIncomeAttributableToUnvestedRestrictedSharesBasic
176000
omi Undistributed Income Attributable To Unvested Restricted Shares Diluted
UndistributedIncomeAttributableToUnvestedRestrictedSharesDiluted
175000
omi Other Comprehensive Income Defined Benefit Plans Deferred Tax Benefit Expense
OtherComprehensiveIncomeDefinedBenefitPlansDeferredTaxBenefitExpense
317000
omi Income Allocated To Unvested Restricted Shares
IncomeAllocatedToUnvestedRestrictedShares
421000
omi Stock Repurchase Program Expiring Date
StockRepurchaseProgramExpiringDate
2014-02
CY2011Q1 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
50000000
CY2011Q2 us-gaap Gross Profit
GrossProfit
216066000
CY2011Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1915382000
CY2011Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
-13000
CY2011Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
29332000
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
48019000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2011Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
168000
CY2011Q2 us-gaap Interest Expense
InterestExpense
3020000
CY2011Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
181000
CY2011Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
28947000
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
29164000
CY2011Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
191000 shares
CY2011Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28946000
CY2011Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Effect Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxEffectPeriodIncreaseDecrease
-8000
CY2011Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.46
CY2011Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8249000
CY2011Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000
CY2011Q2 us-gaap Sales Revenue Net
SalesRevenueNet
2131448000
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
51039000
CY2011Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
156321000
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18855000
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63007000 shares
CY2011Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.393 pure
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63198000 shares
CY2011Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-457000
CY2011Q2 omi Undistributed Income Attributable To Unvested Restricted Shares Basic
UndistributedIncomeAttributableToUnvestedRestrictedSharesBasic
114000
CY2011Q2 omi Undistributed Income Attributable To Unvested Restricted Shares Diluted
UndistributedIncomeAttributableToUnvestedRestrictedSharesDiluted
113000
CY2011Q2 omi Other Comprehensive Income Defined Benefit Plans Deferred Tax Benefit Expense
OtherComprehensiveIncomeDefinedBenefitPlansDeferredTaxBenefitExpense
116000
CY2011Q2 omi Income Allocated To Unvested Restricted Shares
IncomeAllocatedToUnvestedRestrictedShares
218000
CY2012Q2 us-gaap Gross Profit
GrossProfit
211429000
CY2012Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1974015000
CY2012Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease
-11000
CY2012Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30247000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
49690000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2012Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease
134000
CY2012Q2 us-gaap Interest Expense
InterestExpense
3487000
CY2012Q2 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
145000
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
29919000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
30113000
CY2012Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
80000 shares
CY2012Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
29919000
CY2012Q2 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Tax Effect Period Increase Decrease
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxEffectPeriodIncreaseDecrease
-8000
CY2012Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.22
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.48
CY2012Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8515000
CY2012Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
2185444000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
53177000
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
150288000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19577000
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62815000 shares
CY2012Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.394 pure
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62895000 shares
CY2012Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
551000
CY2012Q2 omi Undistributed Income Attributable To Unvested Restricted Shares Basic
UndistributedIncomeAttributableToUnvestedRestrictedSharesBasic
87000
CY2012Q2 omi Undistributed Income Attributable To Unvested Restricted Shares Diluted
UndistributedIncomeAttributableToUnvestedRestrictedSharesDiluted
87000
CY2012Q2 omi Other Comprehensive Income Defined Benefit Plans Deferred Tax Benefit Expense
OtherComprehensiveIncomeDefinedBenefitPlansDeferredTaxBenefitExpense
92000
CY2012Q2 omi Income Allocated To Unvested Restricted Shares
IncomeAllocatedToUnvestedRestrictedShares
194000
CY2011Q4 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
1300000
CY2011Q4 us-gaap Business Exit Costs
BusinessExitCosts
12700000
CY2011Q4 us-gaap Severance Costs
SeveranceCosts
3000000
CY2011Q4 omi Loss Accruals For Operating Leases
LossAccrualsForOperatingLeases
8400000

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