2010 Q4 Form 10-K Financial Statement

#000084263312000012 Filed on February 27, 2012

View on sec.gov

Income Statement

Concept 2010 Q4 2009 Q4 2009
Revenue $212.5M $191.1M $777.1M
YoY Change 11.2% -9.94% -23.35%
Cost Of Revenue $150.3M $137.1M $572.5M
YoY Change 9.63% -15.89% -23.71%
Gross Profit $62.30M $54.00M $204.5M
YoY Change 15.37% 9.76% -22.36%
Gross Profit Margin 29.32% 28.26% 26.32%
Selling, General & Admin $29.90M $40.90M $146.4M
YoY Change -26.89% 9.07% -11.42%
% of Gross Profit 47.99% 75.74% 71.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.400M $10.60M $29.05M
YoY Change -11.32% -8.62% -33.98%
% of Gross Profit 15.09% 19.63% 14.2%
Operating Expenses $43.00M $46.10M $146.4M
YoY Change -6.72% 22.93% -11.37%
Operating Profit $19.30M $7.900M $49.50M
YoY Change 144.3% -32.48% -49.59%
Interest Expense -$12.10M -$10.80M $45.10M
YoY Change 12.04% -20.59% -180.97%
% of Operating Profit -62.69% -136.71% 91.11%
Other Income/Expense, Net $200.0K $300.0K -$28.88M
YoY Change -33.33% -57.14% 1155.65%
Pretax Income $6.300M -$13.70M $20.62M
YoY Change -145.99% -91.69% -116.68%
Income Tax -$1.300M -$4.800M $8.180M
% Of Pretax Income -20.63% 39.67%
Net Earnings $5.700M -$11.40M -$220.0K
YoY Change -150.0% -92.95% -99.84%
Net Earnings / Revenue 2.68% -5.97% -0.03%
Basic Earnings Per Share -$0.01
Diluted Earnings Per Share $164.3K -$340.3K -$0.01
COMMON SHARES
Basic Shares Outstanding 33.49M shares
Diluted Shares Outstanding 33.89M shares

Balance Sheet

Concept 2010 Q4 2009 Q4 2009
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.40M $9.500M $9.500M
YoY Change 388.42% 143.59% 143.59%
Cash & Equivalents $46.37M $9.480M $9.500M
Short-Term Investments
Other Short-Term Assets $71.60M $35.10M $35.10M
YoY Change 103.99% -37.77% -37.77%
Inventory $156.0M $141.8M $141.8M
Prepaid Expenses
Receivables $111.4M $93.40M $93.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $385.3M $279.8M $279.8M
YoY Change 37.69% -20.96% -20.96%
LONG-TERM ASSETS
Property, Plant & Equipment $149.3M $162.2M $162.2M
YoY Change -7.96% -8.31% -8.31%
Goodwill $205.9M
YoY Change
Intangibles $159.9M
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.37M $23.40M $23.40M
YoY Change 8.42% 21.24% 21.24%
Total Long-Term Assets $540.5M $546.0M $546.0M
YoY Change -1.01% -5.24% -5.24%
TOTAL ASSETS
Total Short-Term Assets $385.3M $279.8M $279.8M
Total Long-Term Assets $540.5M $546.0M $546.0M
Total Assets $925.7M $825.8M $825.8M
YoY Change 12.1% -11.22% -11.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $124.4M $92.80M $92.80M
YoY Change 34.04% -16.99% -16.99%
Accrued Expenses $66.60M $65.80M $65.80M
YoY Change 1.22% -0.75% -0.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $17.73M $16.20M $16.20M
YoY Change 9.44% 55.77% 55.77%
Total Short-Term Liabilities $214.4M $175.9M $175.9M
YoY Change 21.9% -7.37% -7.37%
LONG-TERM LIABILITIES
Long-Term Debt $476.9M $498.4M $498.4M
YoY Change -4.31% -16.88% -16.88%
Other Long-Term Liabilities $56.61M $47.00M $47.00M
YoY Change 20.45% 37.43% 37.43%
Total Long-Term Liabilities $533.5M $545.4M $545.4M
YoY Change -2.18% -13.95% -13.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $214.4M $175.9M $175.9M
Total Long-Term Liabilities $533.5M $545.4M $545.4M
Total Liabilities $813.4M $763.8M $763.8M
YoY Change 6.49% -12.74% -12.74%
SHAREHOLDERS EQUITY
Retained Earnings -$465.1M
YoY Change
Common Stock $531.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $112.3M $61.98M $62.00M
YoY Change
Total Liabilities & Shareholders Equity $925.7M $825.8M $825.8M
YoY Change 12.1% -11.22% -11.22%

Cashflow Statement

Concept 2010 Q4 2009 Q4 2009
OPERATING ACTIVITIES
Net Income $5.700M -$11.40M -$220.0K
YoY Change -150.0% -92.95% -99.84%
Depreciation, Depletion And Amortization $9.400M $10.60M $29.05M
YoY Change -11.32% -8.62% -33.98%
Cash From Operating Activities $33.40M $15.90M $83.51M
YoY Change 110.06% 89.29% 167.66%
INVESTING ACTIVITIES
Capital Expenditures -$10.80M -$3.200M -$14.10M
YoY Change 237.5% -64.84% -51.71%
Acquisitions $0.00
YoY Change
Other Investing Activities -$18.00M $100.0K $23.20M
YoY Change -18100.0% -200.0% -652.38%
Cash From Investing Activities -$28.80M -$3.200M $9.130M
YoY Change 800.0% -65.22% -127.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $10.57M
YoY Change
Cash From Financing Activities -4.800M -28.10M -$87.07M
YoY Change -82.92% -6797.69%
NET CHANGE
Cash From Operating Activities 33.40M 15.90M $83.51M
Cash From Investing Activities -28.80M -3.200M $9.130M
Cash From Financing Activities -4.800M -28.10M -$87.07M
Net Change In Cash -200.0K -15.40M $5.570M
YoY Change -98.7% 1825.0% -718.89%
FREE CASH FLOW
Cash From Operating Activities $33.40M $15.90M $83.51M
Capital Expenditures -$10.80M -$3.200M -$14.10M
Free Cash Flow $44.20M $19.10M $97.61M
YoY Change 131.41% 9.14% 61.61%

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NetIncomeLoss
45270000 USD
CY2011 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-51580000 USD
CY2009 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-28880000 USD
CY2010 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2011 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
900000 USD
CY2009 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2010 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
240000 USD
CY2011 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
31390000 USD
CY2010 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
30760000 USD
CY2009 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2009 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
14060000 USD
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
131320000 USD
CY2009 us-gaap Operating Income Loss
OperatingIncomeLoss
49500000 USD
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
109340000 USD
CY2011Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
24610000 USD
CY2010Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
25370000 USD
CY2010 us-gaap Other Comprehensive Income Amortization Of Defined Benefit Plan Net Prior Service Cost Recognized In Net Periodic Pension Cost Net Of Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax
-720000 USD
CY2011 us-gaap Other Comprehensive Income Amortization Of Defined Benefit Plan Net Prior Service Cost Recognized In Net Periodic Pension Cost Net Of Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax
-3120000 USD
CY2009 us-gaap Other Comprehensive Income Amortization Of Defined Benefit Plan Net Prior Service Cost Recognized In Net Periodic Pension Cost Net Of Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax
-750000 USD
CY2011 us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
1700000 USD
CY2009 us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
500000 USD
CY2010 us-gaap Other Comprehensive Income Defined Benefit Plans Tax
OtherComprehensiveIncomeDefinedBenefitPlansTax
500000 USD
CY2010 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
1690000 USD
CY2009 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
7620000 USD
CY2011 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
-3590000 USD
CY2011 us-gaap Other Comprehensive Income Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
-230000 USD
CY2010 us-gaap Other Comprehensive Income Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
-1430000 USD
CY2009 us-gaap Other Comprehensive Income Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax
940000 USD
CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
100000 USD
CY2009 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
600000 USD
CY2010 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
900000 USD
CY2010Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
56610000 USD
CY2011Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
61000000 USD
CY2011 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3130000 USD
CY2009 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1770000 USD
CY2010 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1080000 USD
CY2010 us-gaap Other Restructuring Costs
OtherRestructuringCosts
0 USD
CY2011 us-gaap Other Restructuring Costs
OtherRestructuringCosts
0 USD
CY2009 us-gaap Other Restructuring Costs
OtherRestructuringCosts
5250000 USD
CY2009 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
16730000 USD
CY2011 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
6890000 USD
CY2010 us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
0 USD
CY2011 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
32620000 USD
CY2010 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
21900000 USD
CY2010Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2010Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2010Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2010Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2010Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2010Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6670000 USD
CY2011Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10620000 USD
CY2011 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
269150000 USD
CY2009 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
0 USD
CY2010 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
0 USD
CY2011 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
659300000 USD
CY2009 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
802820000 USD
CY2010 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
476310000 USD
CY2011 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
0 USD
CY2009 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
244980000 USD
CY2010 us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
0 USD
CY2010 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
14810000 USD
CY2011 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
38780000 USD
CY2009 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
23190000 USD
CY2009 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2010 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
130000 USD
CY2011 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
159210000 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
149290000 USD
CY2009 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
807180000 USD
CY2010 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
482360000 USD
CY2011 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
659300000 USD
CY2010 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
14660000 USD
CY2009 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10570000 USD
CY2011 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
294370000 USD
CY2010 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
0 USD
CY2009 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
300390000 USD
CY2011 us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
0 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-465110000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-404750000 USD
CY2009 us-gaap Sales Revenue Net
SalesRevenueNet
777050000 USD
CY2011 us-gaap Sales Revenue Net
SalesRevenueNet
1083960000 USD
CY2010 us-gaap Sales Revenue Net
SalesRevenueNet
902460000 USD
CY2009 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
146420000 USD
CY2010 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
160190000 USD
CY2011 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
186520000 USD
CY2010 us-gaap Share Based Compensation
ShareBasedCompensation
2180000 USD
CY2009 us-gaap Share Based Compensation
ShareBasedCompensation
580000 USD
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
3510000 USD
CY2010 us-gaap Sponsor Fees
SponsorFees
0 USD
CY2009 us-gaap Sponsor Fees
SponsorFees
2890000 USD
CY2011 us-gaap Sponsor Fees
SponsorFees
0 USD
CY2011 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1000000 USD
CY2010 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
130000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
173790000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
112320000 USD
CY2009Q4 us-gaap Stockholders Equity
StockholdersEquity
61980000 USD
CY2008Q4 us-gaap Stockholders Equity
StockholdersEquity
54900000 USD
CY2009 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33892170 shares
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34779693 shares
CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
34435245 shares
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
34246289 shares
CY2010 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33761430 shares
CY2009 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33489659 shares
CY2010 trs Debt Extinguishment Costs Net Of Deferred Financing Fee Write Offs
DebtExtinguishmentCostsNetOfDeferredFinancingFeeWriteOffs
0 USD
CY2011 trs Debt Extinguishment Costs Net Of Deferred Financing Fee Write Offs
DebtExtinguishmentCostsNetOfDeferredFinancingFeeWriteOffs
-3970000 USD
CY2009 trs Debt Extinguishment Costs Net Of Deferred Financing Fee Write Offs
DebtExtinguishmentCostsNetOfDeferredFinancingFeeWriteOffs
24500000 USD
CY2011 dei Amendment Flag
AmendmentFlag
false
CY2011 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2011 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2011 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
CY2011 dei Document Period End Date
DocumentPeriodEndDate
2011-12-31
CY2011 dei Document Type
DocumentType
10-K
CY2011 dei Entity Central Index Key
EntityCentralIndexKey
0000842633
CY2012Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
34643862 shares
CY2011 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2011 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2011Q2 dei Entity Public Float
EntityPublicFloat
654400000 USD
CY2011 dei Entity Registrant Name
EntityRegistrantName
TRIMAS CORP
CY2011 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2011 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

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0000842633-12-000012-index.html Edgar Link pending
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