2012 Q1 Form 10-K Financial Statement

#000119312513010752 Filed on January 11, 2013

View on sec.gov

Income Statement

Concept 2012 Q1 2011 Q4 2011 Q3
Revenue $169.4M $197.8M $198.7M
YoY Change -27.35% -15.91% -12.38%
Cost Of Revenue $154.0M $172.1M $181.1M
YoY Change -26.92% -19.61% -11.09%
Gross Profit $15.41M $25.77M $17.59M
YoY Change -31.35% 21.34% -23.77%
Gross Profit Margin 9.09% 13.03% 8.85%
Selling, General & Admin $23.18M $22.20M $21.39M
YoY Change 13.31% -1.57% -13.0%
% of Gross Profit 150.44% 86.13% 121.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.511M $3.748M $4.474M
YoY Change -16.58% -6.53% 6.17%
% of Gross Profit 22.79% 14.54% 25.44%
Operating Expenses $27.93M $22.19M $22.02M
YoY Change -43.82% -11.31% -56.14%
Operating Profit -$12.52M $3.583M -$4.436M
YoY Change -54.09% -194.81% -83.65%
Interest Expense $98.00K $90.00K $105.0K
YoY Change -19.67% -28.0% -29.05%
% of Operating Profit 2.51%
Other Income/Expense, Net $559.0K $831.0K -$2.878M
YoY Change -172.04% -71.55% -758.58%
Pretax Income -$11.96M $3.016M -$7.314M
YoY Change -57.35% -451.52% -72.61%
Income Tax $380.0K $1.871M -$2.954M
% Of Pretax Income 62.04%
Net Earnings -$12.88M $1.145M -$4.451M
YoY Change -56.02% -151.76% -83.43%
Net Earnings / Revenue -7.6% 0.58% -2.24%
Basic Earnings Per Share -$0.30 $0.03
Diluted Earnings Per Share -$0.30 $0.03 -$103.9K
COMMON SHARES
Basic Shares Outstanding 43.43M shares 43.32M shares 43.32M shares
Diluted Shares Outstanding 43.43M shares 43.32M shares 43.32M shares

Balance Sheet

Concept 2012 Q1 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $95.80M $111.7M $111.4M
YoY Change -37.95% -23.6% -31.06%
Cash & Equivalents $95.62M $111.5M $111.2M
Short-Term Investments $100.0K $100.0K $100.0K
Other Short-Term Assets $10.30M $10.10M $10.90M
YoY Change -14.88% -25.19% -23.24%
Inventory $94.68M $94.91M $76.88M
Prepaid Expenses
Receivables $156.2M $188.0M $146.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $356.9M $404.6M $345.5M
YoY Change -7.79% -5.04% -15.67%
LONG-TERM ASSETS
Property, Plant & Equipment $43.49M $44.81M $47.40M
YoY Change -13.14% -14.41% -10.66%
Goodwill $3.058M $3.058M $3.058M
YoY Change 0.0% -81.13% -81.13%
Intangibles
YoY Change
Long-Term Investments $12.40M $12.60M $12.00M
YoY Change 1.64% 2.44% -7.69%
Other Assets $10.32M $9.510M $9.545M
YoY Change 0.11% -5.11% -2.2%
Total Long-Term Assets $73.25M $74.38M $76.72M
YoY Change -11.14% -34.4% -33.98%
TOTAL ASSETS
Total Short-Term Assets $356.9M $404.6M $345.5M
Total Long-Term Assets $73.25M $74.38M $76.72M
Total Assets $430.2M $479.0M $422.2M
YoY Change -8.37% -11.21% -19.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.0M $164.2M $114.6M
YoY Change 22.27% 13.29% -13.26%
Accrued Expenses $37.78M $42.41M $36.38M
YoY Change -3.15% -8.24% -20.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $219.8M $251.4M $193.1M
YoY Change 10.57% 4.98% -16.12%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Other Long-Term Liabilities $12.03M $12.33M $12.59M
YoY Change -28.03% -27.41% -19.95%
Total Long-Term Liabilities $12.03M $12.33M $12.59M
YoY Change -28.03% -27.41% -19.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $219.8M $251.4M $193.1M
Total Long-Term Liabilities $12.03M $12.33M $12.59M
Total Liabilities $233.0M $265.5M $207.7M
YoY Change 6.56% 2.04% -17.06%
SHAREHOLDERS EQUITY
Retained Earnings -$7.210B -$7.198B -$7.199B
YoY Change 0.2% 0.43% 0.48%
Common Stock $7.389B $7.388B $7.388B
YoY Change -0.49% -0.49% -0.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $197.2M $213.5M $214.5M
YoY Change
Total Liabilities & Shareholders Equity $430.2M $479.0M $422.2M
YoY Change -8.37% -11.21% -19.72%

Cashflow Statement

Concept 2012 Q1 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income -$12.88M $1.145M -$4.451M
YoY Change -56.02% -151.76% -83.43%
Depreciation, Depletion And Amortization $3.511M $3.748M $4.474M
YoY Change -16.58% -6.53% 6.17%
Cash From Operating Activities -$10.76M $4.850M -$4.060M
YoY Change -200.19% -130.31% -158.33%
INVESTING ACTIVITIES
Capital Expenditures -$3.020M $1.750M -$2.350M
YoY Change 50.25% -191.15% -10.65%
Acquisitions
YoY Change
Other Investing Activities $10.00K -$1.050M -$810.0K
YoY Change -104.76% 43.84% 3950.0%
Cash From Investing Activities -$3.010M -$2.800M -$3.160M
YoY Change 35.59% 5.66% 18.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $144.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -170.0K -10.00K
YoY Change -100.0% -89.03% -99.49%
NET CHANGE
Cash From Operating Activities -10.76M 4.850M -4.060M
Cash From Investing Activities -3.010M -2.800M -3.160M
Cash From Financing Activities 0.000 -170.0K -10.00K
Net Change In Cash -13.77M 1.880M -7.230M
YoY Change -261.24% -109.31% -410.3%
FREE CASH FLOW
Cash From Operating Activities -$10.76M $4.850M -$4.060M
Capital Expenditures -$3.020M $1.750M -$2.350M
Free Cash Flow -$7.740M $3.100M -$1.710M
YoY Change -160.71% -122.02% -117.83%

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CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2011 mlnk Restructuring Charges Net Of Tax
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CY2011 mlnk Allowance For Doubtful Accounts Additions
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CY2011 mlnk Income Tax Reconciliation Net Withholding Taxes
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CY2011 mlnk Income Tax Provision
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CY2011 mlnk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value Expected To Vest
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CY2011 mlnk Foreign Dividends
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CY2011 mlnk Allocations Of Earnings To Participating Restricted Stock Units Basic
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CY2011 mlnk Tax Income Loss Not Benefited Utilized
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CY2011 mlnk Restructuring Charges Additions
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CY2009 us-gaap Repayments Of Long Term Capital Lease Obligations
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CY2011 mlnk Derecognition Of Accrued Pricing Liabilities
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CY2009 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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CY2009 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2009 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
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CY2009 us-gaap Income Tax Expense Benefit Continuing Operations
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CY2009 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2009 us-gaap Allocated Share Based Compensation Expense
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CY2009 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2009 us-gaap Interest Expense
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CY2009 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2009 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2009 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
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CY2009 mlnk Unrecognized Tax Benefits Foreign Currency Translation
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CY2009 mlnk Restructuring Charges Net Of Tax
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CY2009 mlnk Allowance For Doubtful Accounts Additions
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CY2009 mlnk Income Tax Reconciliation Net Withholding Taxes
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CY2009 mlnk Net Periodic Pension Cost Benefit And Other Comprehensive Income
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CY2009 mlnk Defined Benefit Plan Actuarial Net Gains Losses Net Of Tax Amount
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CY2009 mlnk Income Tax Provision
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CY2009 mlnk Reduction In Allowance For Doubtful Accounts
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CY2009 mlnk Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value Expected To Vest
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CY2009 mlnk Stock Issued During Period Value Stock Options Exercised And Stock Purchase Plans
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CY2009 mlnk Write Off Of Investment
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CY2009 mlnk Value Of Non Vested Shares Issued
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CY2009 mlnk Foreign Dividends
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CY2009 mlnk Capitalized Costs
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CY2009 mlnk Allocations Of Earnings To Participating Restricted Stock Units Basic
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CY2009 mlnk Allocations Of Earnings To Participating Restricted Stock Units Diluted
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CY2009 mlnk Tax Income Loss Not Benefited Utilized
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CY2009 mlnk Restructuring Charges Additions
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CY2009 mlnk Impairment Of Goodwill And Long Lived Assets
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CY2009 mlnk Derecognition Of Accrued Pricing Liabilities
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CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
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CY2012 dei Document Type
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10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
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CY2012 dei Entity Central Index Key
EntityCentralIndexKey
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CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2012 dei Current Fiscal Year End Date
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CY2012 dei Trading Symbol
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MLNK
CY2012 dei Entity Registrant Name
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MODUSLINK GLOBAL SOLUTIONS INC
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
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CY2012 dei Amendment Flag
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false
CY2012 dei Entity Filer Category
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CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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<div> <table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td width="4%" valign="top" align="left"><font style="font-family:Times New Roman" size="2"><b>(1)</b></font></td> <td align="left" valign="top"><font style="font-family:Times New Roman" size="2"><b>NATURE OF OPERATIONS</b></font></td> </tr> </table> <p style="margin-top:6px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">ModusLink Global Solutions, Inc. (together with its consolidated subsidiaries, &#x201C;ModusLink Global Solutions&#x201D; or &#x201C;the Company&#x201D;), through its wholly-owned subsidiaries, ModusLink Corporation (&#x201C;ModusLink&#x201D;), ModusLink PTS, Inc. (&#x201C;ModusLink PTS&#x201D;), and Tech for Less, LLC (&#x201C;TFL&#x201D;), is a leader in global supply chain business process management serving clients in markets such as consumer electronics, communications, computing, medical devices, software, luxury goods and retail. The Company designs and executes critical elements in our clients&#x2019; global supply chains to improve speed to market, product customization, flexibility, cost, quality and service. These benefits are delivered through a combination of innovative service solutions, integrated operations, proven business processes, an expansive global footprint and world-class technology.</font></p> <p style="margin-top:12px;margin-bottom:0px; text-indent:4%"> <font style="font-family:Times New Roman" size="2">The Company has an integrated network of strategically located facilities in various countries, including numerous sites throughout North America, Europe and Asia. The Company previously operated under the names CMGI, Inc. and CMG Information Services, Inc. and was incorporated in Delaware in 1986.</font></p> </div>
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15806000
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
29536000
CY2012Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
24607000
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
380000
CY2012Q1 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
830000
CY2012Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.02
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
178324000
CY2012Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
332000
CY2012Q1 us-gaap Restructuring Charges
RestructuringCharges
4597000
CY2012Q1 us-gaap Depreciation
Depreciation
3552000
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-13166000
CY2012Q1 us-gaap Interest Expense
InterestExpense
98000
CY2012Q1 us-gaap Cost Of Revenue
CostOfRevenue
162518000
CY2012Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
670000
CY2012Q1 mlnk Restructuring Charges Net Of Tax
RestructuringChargesNetOfTax
4597000
CY2012Q1 mlnk Other Income Expense Net
OtherIncomeExpenseNet
564000
CY2012Q1 mlnk Segment Information Operating Income Loss
SegmentInformationOperatingIncomeLoss
-7038000
CY2012Q1 mlnk Equity In Losses Of Affiliates And Impairments
EquityInLossesOfAffiliatesAndImpairments
290000
CY2012Q1 mlnk Other Income Loss Reconciling Items
OtherIncomeLossReconcilingItems
-6692000

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