$VVX
V2X, Inc.

2014 Q3 Form 10-Q Financial Statement

#000160154814000009 Filed on November 10, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2013 Q4 2013 Q3
Revenue $301.0M $326.6M $349.0M
YoY Change -13.75%
Cost Of Revenue $273.7M $283.1M $301.0M
YoY Change -9.07%
Gross Profit $27.00M $43.50M $48.00M
YoY Change -43.75%
Gross Profit Margin 8.97% 13.32% 13.75%
Selling, General & Admin $23.65M $18.20M $19.00M
YoY Change 24.46%
% of Gross Profit 87.59% 41.84% 39.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $1.000M $1.000M
YoY Change -100.0%
% of Gross Profit 0.0% 2.3% 2.08%
Operating Expenses $23.65M $18.20M $19.00M
YoY Change 24.46%
Operating Profit $3.291M $25.15M $28.89M
YoY Change -88.61%
Interest Expense -$22.00K $100.0K
YoY Change
% of Operating Profit -0.67% 0.4%
Other Income/Expense, Net
YoY Change
Pretax Income $3.269M $25.40M $29.00M
YoY Change -88.73%
Income Tax $1.155M $9.000M $10.00M
% Of Pretax Income 35.33% 35.43% 34.48%
Net Earnings $2.115M $16.16M $18.59M
YoY Change -88.62%
Net Earnings / Revenue 0.7% 4.95% 5.33%
Basic Earnings Per Share $0.20 $1.54 $1.77
Diluted Earnings Per Share $0.20 $1.54 $1.77
COMMON SHARES
Basic Shares Outstanding 10.47M shares 10.47M shares 10.47M shares
Diluted Shares Outstanding 10.47M shares 10.47M shares 10.47M shares

Balance Sheet

Concept 2014 Q3 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.00M $10.40M
YoY Change
Cash & Equivalents $42.00M
Short-Term Investments
Other Short-Term Assets $18.00M $10.88M
YoY Change
Inventory $6.000M $6.000M
Prepaid Expenses $11.00M $11.00M
Receivables
Other Receivables
Total Short-Term Assets $248.0M $255.1M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $9.000M $9.239M
YoY Change
Goodwill $222.0M $222.5M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.000M $2.403M
YoY Change
Total Long-Term Assets $237.0M $234.1M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $248.0M $255.1M
Total Long-Term Assets $237.0M $234.1M
Total Assets $485.0M $489.2M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $99.00M $109.7M
YoY Change
Accrued Expenses $14.00M $10.09M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.00M $0.00
YoY Change
Total Short-Term Liabilities $194.0M $208.2M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $129.0M $0.00
YoY Change
Other Long-Term Liabilities $18.00M $15.11M
YoY Change
Total Long-Term Liabilities $223.0M $89.65M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $194.0M $208.2M
Total Long-Term Liabilities $223.0M $89.65M
Total Liabilities $417.0M $297.8M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings $0.00
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $68.00M $191.3M
YoY Change
Total Liabilities & Shareholders Equity $485.0M $489.2M
YoY Change

Cashflow Statement

Concept 2014 Q3 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income $2.115M $16.16M $18.59M
YoY Change -88.62%
Depreciation, Depletion And Amortization $0.00 $1.000M $1.000M
YoY Change -100.0%
Cash From Operating Activities $37.00M $92.00M -$1.000M
YoY Change -3800.0%
INVESTING ACTIVITIES
Capital Expenditures $1.000M $1.000M $1.000M
YoY Change 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.000M -$1.000M -$1.000M
YoY Change 0.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.000M -88.00M -11.00M
YoY Change -63.64%
NET CHANGE
Cash From Operating Activities 37.00M 92.00M -1.000M
Cash From Investing Activities -1.000M -1.000M -1.000M
Cash From Financing Activities -4.000M -88.00M -11.00M
Net Change In Cash 32.00M 3.000M -13.00M
YoY Change -346.15%
FREE CASH FLOW
Cash From Operating Activities $37.00M $92.00M -$1.000M
Capital Expenditures $1.000M $1.000M $1.000M
Free Cash Flow $36.00M $91.00M -$2.000M
YoY Change -1900.0%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Estimates are revised as additional information becomes available. Estimates and assumptions are used for, but not limited to, revenue recognition, income tax contingency accruals, fair value and impairment of goodwill and valuation of assets and certain contingent liabilities. Actual results could differ from these estimates.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the performance of long-term sales contracts, estimated final contract prices and costs are reviewed periodically and revisions are made as required and recorded in income in the period in which they are determined. Additionally, the fees under certain contracts may be increased or decreased in accordance with cost or performance incentive provisions which measure actual performance against established targets or other criteria. Such incentive fee awards or penalties are included in revenue when there is sufficient information to reasonably assess anticipated contract performance. Amounts representing contract change orders, claims, requests for equitable adjustment, or limitations in funding on contracts are recorded only if it is probable the claim will result in additional contract revenue and the amounts can be reliably estimated. Provisions for estimated losses on uncompleted long-term contracts are made in the period in which such losses are determined and are recorded as a component of cost of revenue. Contract revenue and cost estimates are reviewed and reassessed periodically. Changes in these estimates could result in recognition of cumulative catch-up adjustments to the contract&#8217;s inception to date revenue, cost of revenue and profit in the period in which such changes are made, based on a contract&#8217;s percentage of completion. Changes in revenue and cost estimates could also result in a forward loss or an adjustment to a forward loss.</font></div></div>
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CY2013Q4 vec Site Contingency Environmental Investigations And Remediation Number Of Sites
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CY2014Q3 vec Site Contingency Environmental Investigations And Remediation Number Of Sites
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dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001601548
CY2014Q4 dei Entity Common Stock Shares Outstanding
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dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Vectrus, Inc.
dei Trading Symbol
TradingSymbol
VEC

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vec-09302014x1020.htm Edgar Link pending
vec-09302014x1021.htm Edgar Link pending
vec-09302014x1022.htm Edgar Link pending
vec-09302014x1023.htm Edgar Link pending
vec-09302014x1024.htm Edgar Link pending
vec-09302014x10q.htm Edgar Link pending
vec-09302014x311.htm Edgar Link pending
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vec-09302014x321.htm Edgar Link pending
vec-09302014x322.htm Edgar Link pending
vec-20140930.xml Edgar Link completed
vec-20140930.xsd Edgar Link pending
vec-20140930_cal.xml Edgar Link unprocessable
vec-20140930_def.xml Edgar Link unprocessable
vec-20140930_lab.xml Edgar Link unprocessable
vec-20140930_pre.xml Edgar Link unprocessable