$WMS
ADVANCED DRAINAGE SYSTEMS, INC.

2016 Q2 Form 10-Q Financial Statement

#000119312517006895 Filed on January 10, 2017

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $357.6M $349.1M
YoY Change 2.42% 6.95%
Cost Of Revenue $261.0M $274.6M
YoY Change -4.98% 3.42%
Gross Profit $96.61M $74.48M
YoY Change 29.71% 20.7%
Gross Profit Margin 27.02% 21.33%
Selling, General & Admin $58.76M $39.91M
YoY Change 47.22% 12.91%
% of Gross Profit 60.82% 53.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.00M $2.500M
YoY Change 620.0% -72.71%
% of Gross Profit 18.63% 3.36%
Operating Expenses $58.76M $39.91M
YoY Change 47.22% 12.91%
Operating Profit $35.46M $31.17M
YoY Change 13.75% 36.54%
Interest Expense -$4.784M -$4.286M
YoY Change 11.62% -15.15%
% of Operating Profit -13.49% -13.75%
Other Income/Expense, Net $3.037M -$6.580M
YoY Change -146.16% 46900.0%
Pretax Income $33.71M $20.31M
YoY Change 66.01% 12.84%
Income Tax $14.19M $7.879M
% Of Pretax Income 42.1% 38.8%
Net Earnings $18.27M $11.69M
YoY Change 56.26% 29.33%
Net Earnings / Revenue 5.11% 3.35%
Basic Earnings Per Share $0.29 $0.19
Diluted Earnings Per Share $0.29 $0.19
COMMON SHARES
Basic Shares Outstanding 54.07M 53.62M shares
Diluted Shares Outstanding 54.93M 55.00M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.200M $4.800M
YoY Change 91.67% 2.13%
Cash & Equivalents $9.168M $4.847M
Short-Term Investments
Other Short-Term Assets $8.500M $27.80M
YoY Change -69.42% 55.31%
Inventory $238.7M $259.0M
Prepaid Expenses
Receivables $212.2M $229.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $468.5M $514.4M
YoY Change -8.91% 2.72%
LONG-TERM ASSETS
Property, Plant & Equipment $401.8M $389.3M
YoY Change 3.22% 33.88%
Goodwill $100.9M $98.89M
YoY Change 1.98% 14.59%
Intangibles $57.82M $55.76M
YoY Change 3.7% -11.86%
Long-Term Investments $13.44M $24.73M
YoY Change -45.66% -22.37%
Other Assets $45.61M $59.56M
YoY Change -23.42% -16.44%
Total Long-Term Assets $606.1M $603.5M
YoY Change 0.43% 17.96%
TOTAL ASSETS
Total Short-Term Assets $468.5M $514.4M
Total Long-Term Assets $606.1M $603.5M
Total Assets $1.075B $1.118B
YoY Change -3.87% 10.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $112.6M $109.2M
YoY Change 3.19% -11.39%
Accrued Expenses $64.80M $61.80M
YoY Change 4.85% 47.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $35.88M $10.22M
YoY Change 251.25% -12.45%
Total Short-Term Liabilities $248.3M $207.5M
YoY Change 19.62% 13.88%
LONG-TERM LIABILITIES
Long-Term Debt $335.1M $431.8M
YoY Change -22.38% -10.28%
Other Long-Term Liabilities $40.19M $30.17M
YoY Change 33.22% 87.22%
Total Long-Term Liabilities $375.3M $461.9M
YoY Change -18.75% -7.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $248.3M $207.5M
Total Long-Term Liabilities $375.3M $461.9M
Total Liabilities $739.4M $790.2M
YoY Change -6.43% 5.71%
SHAREHOLDERS EQUITY
Retained Earnings -$87.17M -$54.93M
YoY Change 58.68% -39.78%
Common Stock $758.4M $12.39M
YoY Change 6019.96% 3.65%
Preferred Stock
YoY Change
Treasury Stock (at cost) $439.0M $443.7M
YoY Change -1.05% -0.97%
Treasury Stock Shares
Shareholders Equity $209.4M $204.5M
YoY Change
Total Liabilities & Shareholders Equity $1.075B $1.118B
YoY Change -3.87% 10.43%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $18.27M $11.69M
YoY Change 56.26% 29.33%
Depreciation, Depletion And Amortization $18.00M $2.500M
YoY Change 620.0% -72.71%
Cash From Operating Activities -$100.0K -$18.14M
YoY Change -99.45% -2.16%
INVESTING ACTIVITIES
Capital Expenditures $12.60M $11.54M
YoY Change 9.19% 55.21%
Acquisitions
YoY Change
Other Investing Activities $200.0K $172.0K
YoY Change 16.28% -44.52%
Cash From Investing Activities -$12.80M -$15.60M
YoY Change -17.95% -0.64%
FINANCING ACTIVITIES
Cash Dividend Paid $3.665M $3.784M
YoY Change -3.14% 643.42%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.20M 34.70M
YoY Change -53.31% -1.14%
NET CHANGE
Cash From Operating Activities -100.0K -18.14M
Cash From Investing Activities -12.80M -15.60M
Cash From Financing Activities 16.20M 34.70M
Net Change In Cash 3.300M -18.14M
YoY Change -118.19% -2.16%
FREE CASH FLOW
Cash From Operating Activities -$100.0K -$18.14M
Capital Expenditures $12.60M $11.54M
Free Cash Flow -$12.70M -$29.68M
YoY Change -57.22% 14.26%

Facts In Submission

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223000
CY2016Q2 us-gaap Dividends Share Based Compensation Cash
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30000
CY2016Q2 dei Document Period End Date
DocumentPeriodEndDate
2016-06-30
CY2016Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
2613000
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9020000
CY2016Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2255000
CY2016Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2016Q2 dei Amendment Flag
AmendmentFlag
false
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.06
CY2016Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
CY2016Q2 us-gaap Dividends Common Stock
DividendsCommonStock
3279000
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2016Q2 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
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CY2016Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
18026000
CY2016Q2 dei Document Fiscal Period Focus
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EarningsPerShareDiluted
0.29
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
16653000
CY2016Q2 dei Entity Filer Category
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Large Accelerated Filer
CY2016Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2187000
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
260970000
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.421 pure
CY2016Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2016Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-4784000
CY2016Q2 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
114000000
CY2016Q2 us-gaap Interest Paid
InterestPaid
4996000
CY2016Q2 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
13450000
CY2016Q2 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
200000
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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GrossProfit
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IncomeTaxesPaid
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CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
18273000
CY2016Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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1148000
CY2016Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-12795000
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3121000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-1501000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
15932000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15932000
CY2016Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-202000
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
857000 shares
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
35458000
CY2016Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
3665000
CY2016Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
16202000
CY2016Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
224000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
33711000
CY2016Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-96000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14194000
CY2016Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-132000
CY2016Q2 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2016Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12595000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
16300000
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
357576000
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54928000 shares
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
24230000
CY2016Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
425000
CY2016Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
362000
CY2016Q2 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
2727000
CY2016Q2 us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
909000
CY2016Q2 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-3778000
CY2016Q2 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
5358000
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54071000 shares
CY2016Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5306000
CY2016Q2 dei Trading Symbol
TradingSymbol
WMS
CY2016Q2 us-gaap Unrealized Gain Loss On Derivatives And Commodity Contracts
UnrealizedGainLossOnDerivativesAndCommodityContracts
4907000
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1524000
CY2016Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2648000
CY2016Q2 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
215000
CY2016Q2 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-8000
CY2016Q2 us-gaap Profit Loss
ProfitLoss
19421000
CY2016Q2 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
88700000
CY2016Q2 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2500000
CY2016Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Segment
CY2016Q2 us-gaap Undistributed Earnings
UndistributedEarnings
17456000
CY2016Q2 wms Profit Loss Excluding Portion Attributable To Redeemable Noncontrolling Interest
ProfitLossExcludingPortionAttributableToRedeemableNoncontrollingInterest
19160000
CY2016Q2 wms Fair Value Assets And Liabilities Transfers Between Level One Level Two And Level Three
FairValueAssetsAndLiabilitiesTransfersBetweenLevelOneLevelTwoAndLevelThree
0
CY2016Q2 wms Dividends Redeemable Convertible Preferred Stock
DividendsRedeemableConvertiblePreferredStock
386000
CY2016Q2 wms Earnings Before Interest Taxes Depreciation Amortization After Adjustments
EarningsBeforeInterestTaxesDepreciationAmortizationAfterAdjustments
71808000

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