$VVX
V2X, Inc.

2017 Q2 Form 10-Q Financial Statement

#000160154817000111 Filed on August 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q2
Revenue $259.3M
YoY Change -16.54%
Cost Of Revenue $233.6M
YoY Change -17.67%
Gross Profit $25.74M
YoY Change -4.58%
Gross Profit Margin 9.92%
Selling, General & Admin $16.53M
YoY Change 9.04%
% of Gross Profit 64.24%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $400.0K
YoY Change -33.33%
% of Gross Profit 1.55%
Operating Expenses $16.53M
YoY Change 9.04%
Operating Profit $9.204M
YoY Change -22.07%
Interest Expense -$1.070M
YoY Change -18.45%
% of Operating Profit -11.63%
Other Income/Expense, Net
YoY Change
Pretax Income $8.134M
YoY Change -22.53%
Income Tax $2.700M
% Of Pretax Income 33.19%
Net Earnings $5.461M
YoY Change -17.12%
Net Earnings / Revenue 2.11%
Basic Earnings Per Share $0.50
Diluted Earnings Per Share $0.49
COMMON SHARES
Basic Shares Outstanding 10.99M shares
Diluted Shares Outstanding 11.19M shares

Balance Sheet

Concept 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.50M
YoY Change 28.24%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $6.517M
YoY Change -22.98%
Inventory $18.60M
Prepaid Expenses
Receivables $162.3M
Other Receivables $2.777M
Total Short-Term Assets $239.7M
YoY Change -1.57%
LONG-TERM ASSETS
Property, Plant & Equipment $2.975M
YoY Change -21.71%
Goodwill $216.9M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.374M
YoY Change -16.12%
Total Long-Term Assets $221.3M
YoY Change -0.49%
TOTAL ASSETS
Total Short-Term Assets $239.7M
Total Long-Term Assets $221.3M
Total Assets $461.0M
YoY Change -1.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $104.8M
YoY Change 21.65%
Accrued Expenses $18.99M
YoY Change -24.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $19.25M
YoY Change -12.5%
Total Short-Term Liabilities $180.1M
YoY Change -4.83%
LONG-TERM LIABILITIES
Long-Term Debt $57.72M
YoY Change -33.15%
Other Long-Term Liabilities $3.082M
YoY Change 60.69%
Total Long-Term Liabilities $146.6M
YoY Change -18.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $180.1M
Total Long-Term Liabilities $146.6M
Total Liabilities $326.7M
YoY Change -11.43%
SHAREHOLDERS EQUITY
Retained Earnings $70.05M
YoY Change 71.29%
Common Stock $111.0K
YoY Change 3.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $134.2M
YoY Change
Total Liabilities & Shareholders Equity $461.0M
YoY Change -1.06%

Cashflow Statement

Concept 2017 Q2
OPERATING ACTIVITIES
Net Income $5.461M
YoY Change -17.12%
Depreciation, Depletion And Amortization $400.0K
YoY Change -33.33%
Cash From Operating Activities -$4.200M
YoY Change -349.26%
INVESTING ACTIVITIES
Capital Expenditures $400.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$400.0K
YoY Change -600.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.700M
YoY Change -58.81%
NET CHANGE
Cash From Operating Activities -4.200M
Cash From Investing Activities -400.0K
Cash From Financing Activities -1.700M
Net Change In Cash -6.300M
YoY Change 166.72%
FREE CASH FLOW
Cash From Operating Activities -$4.200M
Capital Expenditures $400.0K
Free Cash Flow -$4.600M
YoY Change -373.0%

Facts In Submission

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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
-5000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
1000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax
0 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
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
-28000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax
95000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2559000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
3082000 USD
CY2016Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2930000 USD
CY2017Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2777000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
1008000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
221000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
651000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
612000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
317000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
364000 USD
vec Depreciation Depletionand Amortization Excluding Amortizationof Financing Costs
DepreciationDepletionandAmortizationExcludingAmortizationofFinancingCosts
1012000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10913000 shares
vec Depreciation Depletionand Amortization Excluding Amortizationof Financing Costs
DepreciationDepletionandAmortizationExcludingAmortizationofFinancingCosts
794000 USD
CY2016Q4 us-gaap Postemployment Benefits Liability Current
PostemploymentBenefitsLiabilityCurrent
200000 USD
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
89000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
69000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
18000000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
111000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
431000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1886000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3061000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2975000 USD
CY2016Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
172072000 USD
CY2017Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
165082000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
69000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
18000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
9000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7000000 USD
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
2014000 USD
CY2017Q2 us-gaap Restructuring Reserve
RestructuringReserve
1420000 USD
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-54000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
57959000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
70047000 USD
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15953000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
31113000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16531000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
30244000 USD
us-gaap Severance Costs1
SeveranceCosts1
468000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3268000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2995000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
23.25
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
117401000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
134241000 USD
CY2016Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
127150000 USD
CY2017Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
126651000 USD
CY2017Q2 us-gaap Unbilled Receivables Not Billable At Balance Sheet Date Amount Expected To Be Collected After One Year
UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedAfterOneYear
4500000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
400000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11191000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10958000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11132000 shares
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
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10987000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10948000 shares
vec Defined Contribution Plan Numberof Plans
DefinedContributionPlanNumberofPlans
1 plan
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>

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vec-20170630.xml Edgar Link completed
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