$WMS
ADVANCED DRAINAGE SYSTEMS, INC.

2015 Q2 Form 10-Q Financial Statement

#000119312516608314 Filed on May 31, 2016

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $349.1M $326.4M
YoY Change 6.95% 11.57%
Cost Of Revenue $274.6M $265.6M
YoY Change 3.42% 16.94%
Gross Profit $74.48M $61.71M
YoY Change 20.7% 9.5%
Gross Profit Margin 21.33% 18.9%
Selling, General & Admin $39.91M $35.35M
YoY Change 12.91% 0.04%
% of Gross Profit 53.59% 57.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.500M $9.160M
YoY Change -72.71% -2.66%
% of Gross Profit 3.36% 14.84%
Operating Expenses $39.91M $35.35M
YoY Change 12.91% 0.04%
Operating Profit $31.17M $22.83M
YoY Change 36.54% -30.08%
Interest Expense -$4.286M -$5.051M
YoY Change -15.15% 23.17%
% of Operating Profit -13.75% -22.12%
Other Income/Expense, Net -$6.580M -$14.00K
YoY Change 46900.0% -97.35%
Pretax Income $20.31M $18.00M
YoY Change 12.84% -35.78%
Income Tax $7.879M $7.893M
% Of Pretax Income 38.8% 43.86%
Net Earnings $11.69M $9.042M
YoY Change 29.33% -30.31%
Net Earnings / Revenue 3.35% 2.77%
Basic Earnings Per Share $0.19 -$0.20
Diluted Earnings Per Share $0.19 -$0.20
COMMON SHARES
Basic Shares Outstanding 53.62M shares 47.54M shares
Diluted Shares Outstanding 55.00M shares 47.54M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.800M $4.700M
YoY Change 2.13%
Cash & Equivalents $4.847M $4.720M
Short-Term Investments
Other Short-Term Assets $27.80M $17.90M
YoY Change 55.31%
Inventory $259.0M $261.0M
Prepaid Expenses
Receivables $229.7M $213.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $514.4M $500.7M
YoY Change 2.72%
LONG-TERM ASSETS
Property, Plant & Equipment $389.3M $290.8M
YoY Change 33.88%
Goodwill $98.89M $86.30M
YoY Change 14.59%
Intangibles $55.76M $63.26M
YoY Change -11.86%
Long-Term Investments $24.73M $31.85M
YoY Change -22.37%
Other Assets $59.56M $71.28M
YoY Change -16.44%
Total Long-Term Assets $603.5M $511.6M
YoY Change 17.96%
TOTAL ASSETS
Total Short-Term Assets $514.4M $500.7M
Total Long-Term Assets $603.5M $511.6M
Total Assets $1.118B $1.012B
YoY Change 10.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $109.2M $123.2M
YoY Change -11.39%
Accrued Expenses $61.80M $42.00M
YoY Change 47.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.22M $11.67M
YoY Change -12.45%
Total Short-Term Liabilities $207.5M $182.2M
YoY Change 13.88%
LONG-TERM LIABILITIES
Long-Term Debt $431.8M $481.2M
YoY Change -10.28%
Other Long-Term Liabilities $30.17M $16.11M
YoY Change 87.22%
Total Long-Term Liabilities $461.9M $497.3M
YoY Change -7.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $207.5M $182.2M
Total Long-Term Liabilities $461.9M $497.3M
Total Liabilities $790.2M $747.5M
YoY Change 5.71%
SHAREHOLDERS EQUITY
Retained Earnings -$54.93M -$91.22M
YoY Change -39.78%
Common Stock $12.39M $11.96M
YoY Change 3.65%
Preferred Stock
YoY Change
Treasury Stock (at cost) $443.7M $448.0M
YoY Change -0.97%
Treasury Stock Shares
Shareholders Equity $204.5M -$532.9M
YoY Change
Total Liabilities & Shareholders Equity $1.118B $1.012B
YoY Change 10.43%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $11.69M $9.042M
YoY Change 29.33% -30.31%
Depreciation, Depletion And Amortization $2.500M $9.160M
YoY Change -72.71% -2.66%
Cash From Operating Activities -$18.14M -$18.54M
YoY Change -2.16% -38.19%
INVESTING ACTIVITIES
Capital Expenditures $11.54M $7.432M
YoY Change 55.21% -152.71%
Acquisitions
YoY Change
Other Investing Activities $172.0K $310.0K
YoY Change -44.52% 8.39%
Cash From Investing Activities -$15.60M -$15.70M
YoY Change -0.64% 74.44%
FINANCING ACTIVITIES
Cash Dividend Paid $3.784M $509.0K
YoY Change 643.42% -66.91%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.70M 35.10M
YoY Change -1.14% -13.76%
NET CHANGE
Cash From Operating Activities -18.14M -18.54M
Cash From Investing Activities -15.60M -15.70M
Cash From Financing Activities 34.70M 35.10M
Net Change In Cash -18.14M -18.54M
YoY Change -2.16% -1190.71%
FREE CASH FLOW
Cash From Operating Activities -$18.14M -$18.54M
Capital Expenditures $11.54M $7.432M
Free Cash Flow -$29.68M -$25.97M
YoY Change 14.26% 63.36%

Facts In Submission

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DocumentType
10-Q
CY2015Q2 dei Entity Registrant Name
EntityRegistrantName
ADVANCED DRAINAGE SYSTEMS, INC.
CY2015Q2 dei Trading Symbol
TradingSymbol
WMS
CY2015Q2 dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
CY2015Q2 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2015Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.392 pure
CY2015Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
432000 shares
CY2015Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18142000
CY2015Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Segment
CY2015Q2 dei Amendment Flag
AmendmentFlag
false
CY2015Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2015Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54055000 shares
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2015Q2 dei Entity Central Index Key
EntityCentralIndexKey
0001604028
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.05
CY2015Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
53623000 shares
CY2015Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6673000 shares
CY2015Q2 us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
ADS Mexicana borrowed $3,000 under a revolving credit facility arrangement with Scotia Bank and loaned that amount to ADS, and such loan was repaid in May 2015. In June 2015, ADS Mexicana borrowed $3,854 under the Scotia Bank credit facility and loaned it to an entity owned by a Groupo Altima owner, and such loan was repaid in July 2015. ADS does not guarantee the borrowings from this facility and therefore, does not anticipate any required contributions related to the balance of this credit facility.
CY2015Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2015Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
281000
CY2015Q2 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
940000
CY2015Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
509000
CY2015Q2 us-gaap Gross Profit
GrossProfit
72586000
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
349124000
CY2015Q2 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
90100000
CY2015Q2 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
3217000
CY2015Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
3784000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
509000
CY2015Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
1353000
CY2015Q2 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
-3761000
CY2015Q2 us-gaap Undistributed Earnings
UndistributedEarnings
10333000
CY2015Q2 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
2825000
CY2015Q2 us-gaap Profit Loss
ProfitLoss
11798000
CY2015Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
704000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
29681000
CY2015Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-4286000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
11801000
CY2015Q2 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
4192000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
18815000
CY2015Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
172000
CY2015Q2 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
1091000
CY2015Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-866000
CY2015Q2 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1875000
CY2015Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10595000
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9475000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
10710000
CY2015Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
444000
CY2015Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
354000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
12307000
CY2015Q2 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
16718000
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
21227000
CY2015Q2 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
6926000
CY2015Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2526000
CY2015Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
1224000
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7371000
CY2015Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
371000
CY2015Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
276538000
CY2015Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
18639000
CY2015Q2 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
215000
CY2015Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
34745000
CY2015Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
587000
CY2015Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-858000
CY2015Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-15561000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-582000
CY2015Q2 us-gaap Dividends Share Based Compensation Cash
DividendsShareBasedCompensationCash
6000
CY2015Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
182000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
18286000
CY2015Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
762000
CY2015Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1088000
CY2015Q2 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
130400000
CY2015Q2 us-gaap Dividends Common Stock
DividendsCommonStock
2689000
CY2015Q2 wms Fair Value Assets And Liabilities Transfers Between Level One Level Two And Level Three
FairValueAssetsAndLiabilitiesTransfersBetweenLevelOneLevelTwoAndLevelThree
0
CY2015Q2 wms Earnings Before Interest Income Taxes Depreciation Amortization From Reportable Segment After Adjustments
EarningsBeforeInterestIncomeTaxesDepreciationAmortizationFromReportableSegmentAfterAdjustments
51813000
CY2015Q2 wms Dividends Redeemable Convertible Preferred Stock
DividendsRedeemableConvertiblePreferredStock
333000
CY2015Q2 wms Temporary Equity Stock Issued During Period Value Employee Stock Ownership Plan
TemporaryEquityStockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
1772000
CY2015Q2 wms Temporary Equity Stock Distributed During Period Value Employee Stock Ownership Plan
TemporaryEquityStockDistributedDuringPeriodValueEmployeeStockOwnershipPlan
-2825000
CY2015Q2 wms Gain Loss On Sale Of Derivatives And Other Nonoperating Income Expense
GainLossOnSaleOfDerivativesAndOtherNonoperatingIncomeExpense
-6580000
CY2015Q2 wms Proceeds From Collection Of Short Term Loans To Related Parties
ProceedsFromCollectionOfShortTermLoansToRelatedParties
-3854000

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