$VVX
V2X, Inc.

2015 Q2 Form 10-Q Financial Statement

#000160154816000154 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2015 Q2
Revenue $309.5M
YoY Change -1.12%
Cost Of Revenue $282.6M
YoY Change -0.49%
Gross Profit $26.95M
YoY Change -7.08%
Gross Profit Margin 8.71%
Selling, General & Admin $16.10M
YoY Change -17.55%
% of Gross Profit 59.75%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $900.0K
YoY Change -10.0%
% of Gross Profit 3.34%
Operating Expenses $16.10M
YoY Change -17.55%
Operating Profit $10.85M
YoY Change 15.1%
Interest Expense -$1.437M
YoY Change -5422.22%
% of Operating Profit -13.25%
Other Income/Expense, Net
YoY Change
Pretax Income $9.408M
YoY Change -0.43%
Income Tax $3.388M
% Of Pretax Income 36.01%
Net Earnings $6.020M
YoY Change -1.83%
Net Earnings / Revenue 1.95%
Basic Earnings Per Share $0.57
Diluted Earnings Per Share $0.56
COMMON SHARES
Basic Shares Outstanding 10.55M shares
Diluted Shares Outstanding 10.80M shares

Balance Sheet

Concept 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.00M
YoY Change 344.44%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $18.61M
YoY Change 86.07%
Inventory $6.400M
Prepaid Expenses
Receivables $212.7M
Other Receivables $0.00
Total Short-Term Assets $277.7M
YoY Change 4.77%
LONG-TERM ASSETS
Property, Plant & Equipment $7.516M
YoY Change -16.49%
Goodwill $216.9M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.190M
YoY Change 106.33%
Total Long-Term Assets $230.6M
YoY Change -1.44%
TOTAL ASSETS
Total Short-Term Assets $277.7M
Total Long-Term Assets $230.6M
Total Assets $508.3M
YoY Change 1.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $102.4M
YoY Change -12.51%
Accrued Expenses $43.98M
YoY Change -20.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $19.13M
YoY Change
Total Short-Term Liabilities $250.5M
YoY Change 27.13%
LONG-TERM LIABILITIES
Long-Term Debt $103.9M
YoY Change
Other Long-Term Liabilities $12.97M
YoY Change -13.51%
Total Long-Term Liabilities $190.4M
YoY Change 1169.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $250.5M
Total Long-Term Liabilities $190.4M
Total Liabilities $440.9M
YoY Change 50.48%
SHAREHOLDERS EQUITY
Retained Earnings $14.32M
YoY Change
Common Stock $106.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $67.39M
YoY Change
Total Liabilities & Shareholders Equity $508.3M
YoY Change 1.86%

Cashflow Statement

Concept 2015 Q2
OPERATING ACTIVITIES
Net Income $6.020M
YoY Change -1.83%
Depreciation, Depletion And Amortization $900.0K
YoY Change -10.0%
Cash From Operating Activities $27.00M
YoY Change -55.0%
INVESTING ACTIVITIES
Capital Expenditures $200.0K
YoY Change -80.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$200.0K
YoY Change -80.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.20M
YoY Change -72.86%
NET CHANGE
Cash From Operating Activities 27.00M
Cash From Investing Activities -200.0K
Cash From Financing Activities -15.20M
Net Change In Cash 11.60M
YoY Change 286.67%
FREE CASH FLOW
Cash From Operating Activities $27.00M
Capital Expenditures $200.0K
Free Cash Flow $26.80M
YoY Change -54.58%

Facts In Submission

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69000 USD
CY2016Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-234000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-606000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1610000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2549000 USD
CY2015Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2833000 USD
CY2016Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
3127000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
221000 USD
CY2014Q3 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
136300000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
752000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
651000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
734000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
317000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
89000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
132500000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
69000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
111000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
107000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
431000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4762000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3566000 USD
CY2015Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
210561000 USD
CY2016Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
177683000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
132500000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
69000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
11250000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
9000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
34304000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
46943000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16101000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31284000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15953000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31113000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3852000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3268000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
89310000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
103553000 USD
CY2015Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
154658000 USD
CY2016Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
128610000 USD
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10702000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10665000 shares
CY2016Q3 us-gaap Unbilled Receivables Not Billable At Balance Sheet Date Amount Expected To Be Collected After One Year
UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear
4100000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10804000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10789000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10958000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10913000 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10548000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10520000 shares
CY2015Q4 vec Accrued Insurance Financing Current
AccruedInsuranceFinancingCurrent
2727000 USD
CY2016Q3 vec Accrued Insurance Financing Current
AccruedInsuranceFinancingCurrent
0 USD
vec Defined Contribution Plan Numberof Plans
DefinedContributionPlanNumberofPlans
1 plan
vec Depreciation Depletionand Amortization Excluding Amortizationof Financing Costs
DepreciationDepletionandAmortizationExcludingAmortizationofFinancingCosts
1753000 USD
vec Lineof Credit Facility Covenant Terms Maximum Allowed Dividend Distribution
LineofCreditFacilityCovenantTermsMaximumAllowedDividendDistribution
10000000 USD
vec Proceedsfrom Insurance Financing
ProceedsfromInsuranceFinancing
14857000 USD
vec Proceedsfrom Insurance Financing
ProceedsfromInsuranceFinancing
0 USD
vec Repaymentsof Insurance Financing
RepaymentsofInsuranceFinancing
4018000 USD
vec Repaymentsof Insurance Financing
RepaymentsofInsuranceFinancing
0 USD
us-gaap Use Of Estimates
UseOfEstimates
<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:Arial;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>

Files In Submission

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0001601548-16-000154.txt Edgar Link pending
0001601548-16-000154-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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vec-0701201610xq.htm Edgar Link pending
vec-07012016x311.htm Edgar Link pending
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vec-07012016x321.htm Edgar Link pending
vec-07012016x322.htm Edgar Link pending
vec-20160701.xml Edgar Link completed
vec-20160701.xsd Edgar Link pending
vec-20160701_cal.xml Edgar Link unprocessable
vec-20160701_def.xml Edgar Link unprocessable
vec-20160701_lab.xml Edgar Link unprocessable
vec-20160701_pre.xml Edgar Link unprocessable