2012 Q2 Form 10-Q Financial Statement
#000114420412042591 Filed on August 02, 2012
Income Statement
Concept | 2012 Q2 | 2011 Q4 | 2011 Q2 |
---|---|---|---|
Revenue | $362.4M | $341.7M | $287.1M |
YoY Change | 26.23% | ||
Cost Of Revenue | $322.7M | $270.9M | |
YoY Change | 19.15% | ||
Gross Profit | $39.68M | $20.66M | $16.24M |
YoY Change | 144.34% | ||
Gross Profit Margin | 10.95% | 6.05% | 5.66% |
Selling, General & Admin | $15.44M | $11.12M | |
YoY Change | 38.77% | ||
% of Gross Profit | 38.9% | 68.49% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $15.44M | $11.12M | |
YoY Change | 38.77% | ||
Operating Profit | $8.568M | $5.117M | |
YoY Change | 67.44% | ||
Interest Expense | $5.441M | $1.147M | |
YoY Change | 374.37% | ||
% of Operating Profit | 63.5% | 22.42% | |
Other Income/Expense, Net | -$56.00K | $11.00K | |
YoY Change | -609.09% | ||
Pretax Income | $3.071M | $3.313M | |
YoY Change | -7.3% | ||
Income Tax | $1.129M | $11.00K | |
% Of Pretax Income | 36.76% | 0.33% | |
Net Earnings | $1.942M | $7.451M | $3.302M |
YoY Change | -41.19% | 53.34% | -158.94% |
Net Earnings / Revenue | 0.54% | 2.18% | 1.15% |
Basic Earnings Per Share | $0.03 | $0.05 | |
Diluted Earnings Per Share | $0.25 | $0.05 | |
COMMON SHARES | |||
Basic Shares Outstanding | 68.32K shares | 68.09M shares | |
Diluted Shares Outstanding | 68.53K shares | 68.44M shares |
Balance Sheet
Concept | 2012 Q2 | 2011 Q4 | 2011 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $31.60M | $19.98M | $13.50M |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | $250.2M | $189.5M | |
Prepaid Expenses | |||
Receivables | $103.0M | $52.22M | |
Other Receivables | |||
Total Short-Term Assets | $392.7M | $264.0M | |
YoY Change | |||
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $126.9M | $96.59M | |
YoY Change | |||
Goodwill | $151.5M | $0.00 | |
YoY Change | |||
Intangibles | $177.7M | $19.82M | |
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $12.70M | $7.593M | |
YoY Change | |||
Total Long-Term Assets | $468.8M | $124.0M | |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $392.7M | $264.0M | |
Total Long-Term Assets | $468.8M | $124.0M | |
Total Assets | $861.5M | $388.1M | $406.7M |
YoY Change | 111.83% | ||
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $153.0M | $108.0M | |
YoY Change | |||
Accrued Expenses | $82.29M | $59.02M | |
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | $3.000M | ||
YoY Change | |||
Total Short-Term Liabilities | $239.1M | $168.5M | |
YoY Change | |||
LONG-TERM LIABILITIES | |||
Long-Term Debt | $439.0M | $65.00M | |
YoY Change | |||
Other Long-Term Liabilities | $3.620M | $4.874M | |
YoY Change | |||
Total Long-Term Liabilities | $442.7M | $69.87M | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $239.1M | $168.5M | |
Total Long-Term Liabilities | $442.7M | $69.87M | |
Total Liabilities | $681.8M | $238.4M | |
YoY Change | |||
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$422.3M | -$429.3M | |
YoY Change | |||
Common Stock | $702.0K | $704.0K | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $27.12M | $26.55M | |
YoY Change | |||
Treasury Stock Shares | 1.870M shares | 1.816M shares | |
Shareholders Equity | $175.8M | $146.3M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $861.5M | $388.1M | |
YoY Change |
Cashflow Statement
Concept | 2012 Q2 | 2011 Q4 | 2011 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $1.942M | $7.451M | $3.302M |
YoY Change | -41.19% | 53.34% | -158.94% |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | |||
YoY Change | |||
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | |||
YoY Change | |||
NET CHANGE | |||
Cash From Operating Activities | |||
Cash From Investing Activities | |||
Cash From Financing Activities | |||
Net Change In Cash | |||
YoY Change | |||
FREE CASH FLOW | |||
Cash From Operating Activities | |||
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Current Assets Cash And Cash Equivalents
BusinessAcquisitionPurchasePriceAllocationCurrentAssetsCashAndCashEquivalents
|
10982000 | |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Property Plant And Equipment
BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment
|
32591000 | |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Deferred Tax Assets Noncurrent
BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetsNoncurrent
|
42000 | |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Assets Acquired Liabilities Assumed Net
BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet
|
374994000 | |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Goodwill Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillAmount
|
151492000 | |
CY2012Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
9800000 | |
CY2012Q2 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
700000 | |
CY2012Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
12145000 | |
CY2012Q2 | us-gaap |
Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
|
3258000 | |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Intangible Assets Other Than Goodwill
BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsOtherThanGoodwill
|
162100000 | |
CY2012Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Current Assets
BusinessAcquisitionPurchasePriceAllocationCurrentAssets
|
90459000 | |
CY2012Q2 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
71028000 | |
CY2012Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Current Liabilities
BusinessAcquisitionPurchasePriceAllocationCurrentLiabilities
|
72672000 | |
CY2012Q2 | us-gaap |
Business Acquisition Cost Of Acquired Entity Cash Paid
BusinessAcquisitionCostOfAcquiredEntityCashPaid
|
375000000 | |
CY2012Q2 | us-gaap |
Business Acquisition Cost Of Acquired Entity Purchase Price
BusinessAcquisitionCostOfAcquiredEntityPurchasePrice
|
364012000 | |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Liabilities Assumed
BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed
|
72672000 | |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Assets Acquired
BusinessAcquisitionPurchasePriceAllocationAssetsAcquired
|
447666000 | |
CY2012Q2 | us-gaap |
Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount
|
151500000 | |
CY2012Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
68388006 | shares |
CY2011Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
12345000 | |
CY2011Q2 | us-gaap |
Assets
Assets
|
406704000 | |
CY2011Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
13498000 | |
CY2012Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
7924000 | |
CY2012Q2 | us-gaap |
Goodwill
Goodwill
|
151492000 | |
CY2012Q2 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
41000 | |
CY2012Q2 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
34017000 | |
CY2012Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
12696000 | |
CY2012Q2 | us-gaap |
Liabilities Fair Value Disclosure Recurring
LiabilitiesFairValueDisclosureRecurring
|
417035000 | |
CY2012Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
17500000 | |
CY2012Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
175823000 | |
CY2012Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
17500000 | |
CY2012Q2 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
11.70 | |
CY2012Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
25773000 | |
CY2012Q2 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1870205 | shares |
CY2012Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
68332756 | shares |
CY2012Q2 | us-gaap |
Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
|
16538000 | |
CY2012Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
15570000 | |
CY2012Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
152961000 | |
CY2012Q2 | us-gaap |
Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
|
18543000 | |
CY2012Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
3620000 | |
CY2012Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-422282000 | |
CY2012Q2 | us-gaap |
Assets
Assets
|
861539000 | |
CY2012Q2 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
673000 | |
CY2012Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
102997000 | |
CY2012Q2 | us-gaap |
Inventory Net
InventoryNet
|
250163000 | |
CY2012Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
861539000 | |
CY2012Q2 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
27116000 | |
CY2012Q2 | us-gaap |
Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
|
883000 | |
CY2012Q2 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
21528000 | |
CY2012Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
31601000 | |
CY2012Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
177705000 | |
CY2012Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
106000 | |
CY2012Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
82287000 | |
CY2012Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
17500000 | |
CY2011Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
1815671 | shares |
CY2011Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
68165668 | shares |
CY2011Q4 | us-gaap |
Inventory Parts And Components Net Of Reserves
InventoryPartsAndComponentsNetOfReserves
|
5762000 | |
CY2011Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
11437000 | |
CY2012Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
17500000 | |
CY2012Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
239131000 | |
CY2012Q2 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
110037000 | |
CY2012Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
702000 | |
CY2011Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
107985000 | |
CY2011Q4 | us-gaap |
Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
|
12344000 | |
CY2012Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2012Q2 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
7271000 | |
CY2012Q2 | us-gaap |
Assets Current
AssetsCurrent
|
392726000 | |
CY2012Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
13600000 | |
CY2011Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
4874000 | |
CY2011Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-429288000 | |
CY2011Q4 | us-gaap |
Assets
Assets
|
388050000 | |
CY2011Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
52219000 | |
CY2011Q4 | us-gaap |
Inventory Net
InventoryNet
|
189533000 | |
CY2012Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
126920000 | |
CY2012Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
3000000 | |
CY2012Q2 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
624413000 | |
CY2012Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
439034000 | |
CY2010Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
11936000 | |
CY2010Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
21200000 | |
CY2011Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2317000 | |
CY2011Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
2332000 | |
CY2011Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
7593000 | |
CY2011Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
146346000 | |
CY2011Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
54000000 | |
CY2011Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2011Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
5439000 | |
CY2011Q4 | us-gaap |
Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
|
3314000 | |
CY2011Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2011Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
19627000 | |
CY2011Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
388050000 | |
CY2011Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
26552000 | |
CY2011Q4 | us-gaap |
Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
|
1507000 | |
CY2011Q4 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
16282000 | |
CY2011Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
19976000 | |
CY2011Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
19821000 | |
CY2011Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
59024000 | |
CY2011Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
168516000 | |
CY2011Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
115095000 | |
CY2011Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
704000 | |
CY2011Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2011Q4 | us-gaap |
Taxes Payable Current
TaxesPayableCurrent
|
6239000 | |
CY2011Q4 | us-gaap |
Assets Current
AssetsCurrent
|
264045000 | |
CY2011Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
96591000 | |
CY2011Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
601482000 | |
CY2011Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
65000000 | |
us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-668000 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
9126000 | ||
us-gaap |
Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
|
505000 | ||
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
167000 | ||
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
6499000 | ||
us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
1.000 | pure | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
-27000 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.06 | ||
us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
530632000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1544000 | ||
us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
676863000 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.09 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
84493000 | ||
us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
1136000 | ||
us-gaap |
Selling Expense
SellingExpense
|
6145000 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.09 | ||
us-gaap |
Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
|
37000 | ||
us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
476338000 | ||
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
429000 | shares | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
434000 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-15807000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1451000 | ||
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
1281000 | ||
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
519459000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1451000 | ||
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-7702000 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
17470000 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
143000 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
68477000 | shares | |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
509079000 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
32171000 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
6552000 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.09 | ||
us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
1545000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
9556000 | ||
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
68048000 | shares | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
84593000 | ||
us-gaap |
Revenues From External Customers
RevenuesFromExternalCustomers
|
509079000 | ||
us-gaap |
Depreciation
Depreciation
|
6392000 | ||
us-gaap |
Gross Profit
GrossProfit
|
32741000 | ||
us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
265000 | ||
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
3794000 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
999 | shares | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
6499000 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
53000 | ||
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
6499000 | ||
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1477000 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.06 | ||
us-gaap |
Interest Expense
InterestExpense
|
2073000 | ||
wnc |
Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
|
20956000 | ||
wnc |
Net Income Loss Available To Common Stockholders Excluding Undistributed Earnings Allocated To Participating Securities
NetIncomeLossAvailableToCommonStockholdersExcludingUndistributedEarningsAllocatedToParticipatingSecurities
|
6462000 | ||
dei |
Trading Symbol
TradingSymbol
|
WNC | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
WABASH NATIONAL CORP /DE | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2012 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2012-06-30 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000879526 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
us-gaap |
Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
|
44300000 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
14017000 | ||
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
364012000 | ||
us-gaap |
Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
|
564000 | ||
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
171000 | ||
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
7112000 | ||
us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
1.000 | pure | |
us-gaap |
Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
|
1524000 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.44 | ||
us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
194179000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2151000 | ||
us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
776155000 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.10 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-4835000 | ||
us-gaap |
Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
|
1922000 | ||
us-gaap |
Selling Expense
SellingExpense
|
8978000 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.10 | ||
us-gaap |
Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
|
60000 | ||
us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
580680000 | ||
us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
750000 | ||
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
287000 | shares | |
us-gaap |
Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
|
3887000 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
186000 | ||
us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
13902000 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-11477000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-367601000 | ||
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
5026000 | ||
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
234180000 | ||
us-gaap |
Business Combination Pro Forma Information Earnings Or Loss Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual
|
2900000 | ||
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
777000 | ||
us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
20800000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3589000 | ||
wnc |
Extended Product Warranty Time Period
ExtendedProductWarrantyTimePeriod
|
P10Y | ||
CY2012Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
68323000 | shares |
CY2012Q2 | us-gaap |
Revenues From External Customers
RevenuesFromExternalCustomers
|
362408000 | |
CY2012Q2 | us-gaap |
Gross Profit
GrossProfit
|
39681000 | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
11625000 | ||
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
22513000 | ||
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
292500000 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1450000 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
68571000 | shares | |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
640090000 | ||
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
4822000 | ||
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
106000 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
7783000 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.10 | ||
CY2011Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
68087000 | shares |
CY2011Q2 | us-gaap |
Revenues From External Customers
RevenuesFromExternalCustomers
|
287095000 | |
CY2011Q2 | us-gaap |
Gross Profit
GrossProfit
|
16240000 | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="FONT: 10pt Times New Roman, Times, Serif"> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="WIDTH: 0in"></td> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"><b>1.</b></td> <td style="TEXT-ALIGN: justify"><b>DESCRIPTION OF THE BUSINESS</b></td> </tr> </table> <p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The condensed consolidated financial statements of Wabash National Corporation (the “Company”) have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed consolidated financial statements contain all material adjustments (consisting only of normal recurring adjustments) necessary to present fairly the consolidated financial position of the Company, its results of operations and cash flows. The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s 2011 Annual Report on Form 10-K. Certain reclassifications have been made to prior periods to conform to the current year presentation. These reclassifications had no effect on net income for the period previously reported.</p> </div> | ||
us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
2168000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
390703000 | ||
CY2012Q2 | us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
12224000 | |
CY2012Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
13407000 | |
CY2012Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
68525000 | shares |
CY2012Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
362408000 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
68284000 | shares | |
CY2011Q2 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
2323000 | |
CY2011Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1234 | shares |
CY2011Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
3302000 | |
CY2011Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
11000 | |
CY2011Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
3302000 | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
20285000 | ||
us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<div style="FONT: 10pt Times New Roman, Times, Serif"> <table style="MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="WIDTH: 0in"></td> <td style="TEXT-ALIGN: left; WIDTH: 0.5in"><b>7.</b></td> <td style="TEXT-ALIGN: justify"><b>CONTINGENCIES</b></td> </tr> </table> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b> </b></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company is involved in a number of legal proceedings concerning matters arising in connection with the conduct of its business activities, and is periodically subject to governmental examinations (including by regulatory and tax authorities), and information gathering requests (collectively, "governmental examinations"). As of June 30, 2012, the Company was named as a defendant or was otherwise involved in numerous legal proceedings and governmental examinations in various jurisdictions, both in the United States and internationally.</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company has recorded liabilities for certain of its outstanding legal proceedings and governmental examinations. A liability is accrued when it is both (a) probable that a loss with respect to the legal proceeding has occurred and (b) the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings and governmental examinations that could cause an increase or decrease in the amount of the liability that has been previously accrued. These legal proceedings, as well as governmental examinations, involve various lines of business of the Company and a variety of claims (including, but not limited to, common law tort, contract, antitrust and consumer protection claims), some of which present novel factual allegations and/or unique legal theories. While some matters pending against the Company specify the damages claimed by the plaintiff, many seek a not-yet-quantified amount of damages or are at very early stages of the legal process. Even when the amount of damages claimed against the Company are stated, the claimed amount may be exaggerated and/or unsupported. As a result, it is not currently possible to estimate a range of possible loss beyond previously accrued liabilities relating to some matters including those described below. Such previously accrued liabilities may not represent the Company's maximum loss exposure. The legal proceedings and governmental examinations underlying the estimated range will change from time to time and actual results may vary significantly from the currently accrued liabilities.</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Based on its current knowledge, and taking into consideration its litigation-related liabilities, the Company believes it is not a party to, nor is any of its properties the subject of, any pending legal proceeding or governmental examination other than the matters below, which are addressed individually, that would have a material adverse effect on the Company's consolidated financial condition or liquidity. However, in light of the uncertainties involved in such matters, the ultimate outcome of a particular matter could be material to the Company's operating results for a particular period depending on, among other factors, the size of the loss or liability imposed and the level of the Company's income for that period. Costs associated with the litigation and settlements of legal matters are reported within <i>General and Administrative Expenses</i> in theConsolidated Statements of Operations.</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><i>Brazil Joint Venture</i></font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><i> </i></font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal">In March 2001, Bernard Krone Indústria</font> <font style="FONT-WEIGHT: normal">e Comércio de Máquinas Agrícolas Ltda. (“BK”) filed suit against the Company in the Fourth Civil Court of Curitiba in the State of Paraná, Brazil. Because of the bankruptcy of BK, this proceeding is now pending before the Second Civil Court of Bankruptcies and Creditors Reorganization of Curitiba, State of Paraná (No. 232/99).</font></p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"> </font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal">The case grows out of a joint venture agreement between BK and the Company related to marketing of RoadRailer trailers in Brazil and other areas of South America. When BK was placed into the Brazilian equivalent of bankruptcy late in 2000, the joint venture was dissolved. BK subsequently filed its lawsuit against the Company alleging that it was forced to terminate business with other companies because of the exclusivity and non-compete clauses purportedly found in the joint venture agreement. BK asserted damages, exclusive of any potentially court-imposed interest or inflation adjustments, of approximately R$20.8 million (Brazilian Reais). BK did not change the amount of damages it asserted following its filing of the case in 2001.</font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"> </font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal">A bench (non-jury) trial was held on March 30, 2010 in Curitiba, Paraná, Brazil. On November 22, 2011, the Fourth Civil Court of Curitiba partially granted BK’s claims, and ordered Wabash to pay BK lost profits, compensatory, economic and moral damages in excess of the amount of compensatory damages asserted by BK. The total ordered damages amount is approximately R$26.7 million (Brazilian Reais), which is approximately $13.2 million U.S. dollars using current exchange rates and exclusive of any potentially court-imposed interest, fees or inflation adjustments (which are currently estimated at a maximum of approximately $54 million, at current exchange rates, but may change with the passage of time and/or the discretion of the court at the time of final judgment in this matter). Due, in part, to the amount and type of damages awarded by the Fourth Civil Court of Curitiba, Wabash immediately filed for clarification of the judgment, which renders the judgment unenforceable at this time. Upon receipt of a clarified judgment from the Fourth Civil Court of Curitiba, Wabash also plans to appeal the judgment to the State of Paraná Court of Appeals. The Court of Appeals has the authority to re-hear all facts presented to the lower court, as well as to reconsider the legal questions presented in the case, and to render a new judgment in the case without regard to the lower court’s findings. Pending outcome of this appeal process, the judgment is not enforceable by the plaintiff. Any ruling from the Court of Appeals is not expected prior to the third quarter of 2012, and, accordingly, the judgment rendered by the lower court cannot be enforced prior to that time, and may be overturned or reduced as a result of this process. The Company believes that the claims asserted by BK are without merit and it intends to continue to vigorously defend its position. The Company has not recorded a charge with respect to this loss contingency as of June 30, 2012. Furthermore, at this time, the Company does not have sufficient information to predict the ultimate outcome of the case and is unable to estimate the amount of any reasonable possible loss or range of loss that it may be required to pay at the conclusion of the case. The Company will reassess the need for the recognition of a loss contingency upon the receipt of a clarified judgment and assignment of the case in the Court of Appeals, upon a decision to settle this case with the plaintiffs or an internal decision as to an amount that the Company would be willing to settle or upon the outcome of the appeals process.</font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><i> </i></font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><i>Intellectual Property</i></font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><i> </i></font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal">In October 2006, the Company filed a patent infringement suit against Vanguard National Corporation (“Vanguard”) regarding the Company’s U.S. Patent Nos. 6,986,546 and 6,220,651 in the U.S. District Court for the Northern District of Indiana (Civil Action No. 4:06-cv-135). The Company amended the Complaint in April 2007. In May 2007, Vanguard filed its Answer to the Amended Complaint, along with Counterclaims seeking findings of non-infringement, invalidity, and unenforceability of the subject patents. The Company filed a reply to Vanguard’s counterclaims in May 2007, denying any wrongdoing or merit to the allegations as set forth in the counterclaims. The case has currently been stayed by agreement of the parties while the U.S. Patent and Trademark Office (“Patent Office”) undertakes a reexamination of U.S. Patent Nos. 6,986,546. In June 2010, the Patent Office notified the Company that the reexamination is complete and the Patent Office has reissued U.S. Patent No. 6,986,546 without cancelling any claims of the patent. The parties have not yet petitioned the Court to lift the stay, and it is unknown at this time when the parties’ petition to lift the stay may be filed or granted.</font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"> </font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal">The Company believes that its claims against Vanguard have merit and that the claims asserted by Vanguard are without merit. The Company intends to vigorously defend its position and intellectual property. The Company believes that the resolution of this lawsuit will not have a material adverse effect on its financial position, liquidity or future results of operations. However, at this stage of the proceeding, no assurance can be given as to the ultimate outcome of the case.</font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><i>Environmental Disputes</i></font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><i> </i></font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal">Bulk Tank International, S. de R.L. de C.V. (“Bulk”), one of the Walker companies acquired by the Company on May 8, 2012, entered into agreements in 2011 with the Mexican federal environmental agency, PROFEPA, and the applicable state environmental agency, PROPAEG, pursuant to PROFEPA’s and PROPAEG’s respective environmental audit programs to resolve noncompliance with federal and state environmental laws at Bulk’s Guanajuato facility (“Compliance Agreements”). The Compliance Agreements require Bulk to undertake certain corrective action to come into compliance with environmental requirements. The Company does not expect that this matter will have a material adverse effect on its financial condition or results of operations.</font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><i> </i></font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal">In January 2012, the Company was noticed as a potentially responsible party (“PRP”) by the U.S. Environmental Protection Agency (“EPA”) and the Louisiana Department of Environmental Quality (“LDEQ”) pertaining to the Marine Shale Processors Site located in Amelia, Louisiana (“MSP Site”) pursuant to the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) and corresponding Louisiana statutes. The EPA’s allegation that the Company is a PRP arises out of one alleged shipment of waste to the MSP Site in 1992 from the Company’s branch facility in Dallas, Texas. As such, the MSP Site PRP Group notified the Company in January 2012 that, as a result of a March 18, 2009 Cooperative Agreement for Site Investigation and Remediation entered into between the MSP Site PRP Group and the LDEQ, the Company was being offered a “De Minimis Cash-Out Settlement” to contribute to the remediation costs, which would remain open until February 29, 2012. The Company chose not to enter into the settlement and has denied any liability. In addition, the Company has requested that the MSP Site PRP Group remove the Company from the list of PRPs for the MSP Site, based upon the following facts. The Company acquired this branch facility in 1997 – five years after the alleged shipment - as part of the assets the Company acquired out of the Fruehauf Trailer Corporation (“Fruehauf”) bankruptcy (Case No. 96-1563, United States Bankruptcy Court, District of Delaware (“Bankruptcy Court”)). As part of the Asset Purchase Agreement regarding the Company’s purchase of assets from Fruehauf, Wabash did not assume liability for “Off-Site Environmental Liabilities,” which are defined to include any environmental claims arising out of the treatment, storage, disposal or other disposition of any Hazardous Substance at any location other than any of the acquired locations/assets. The Bankruptcy Court, in an Order dated May 26, 1999, also provided that, except for those certain specified liabilities assumed by the Company under the terms of the Asset Purchase Agreement, the Company and its subsidiaries shall not be subject to claims asserting successor liability. The “no successor liability” language of the Asset Purchase Agreement and the Bankruptcy Court Order form the basis for the Company’s request that it be removed from the list of PRPs for the MSP Site. The MSP Site PSP Group is currently considering the Company’s request, but has provided no timeline to the Company for a response. However, the MSP Site PSP Group has agreed to indefinitely extend the time period by which the Company must respond to the De Minimis Cash-Out Settlement offer. The Company does not expect that this proceeding will have a material adverse effect on its financial condition or results of operations.</font></p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: normal"> </font></font></p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: normal"> </font></font></p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: normal">In September 2003, the Company</font></font> <font style="FONT-WEIGHT: normal">was noticed as a PRP by the EPA pertaining to the Motorola 52nd Street, Phoenix, Arizona Superfund Site (the “Superfund Site”) pursuant to CERCLA. PRPs include current and former owners and operators of facilities at which hazardous substances were allegedly disposed. The EPA’s allegation that the Company was a PRP arises out of the Company’s acquisition of a former branch facility located approximately five miles from the original Superfund Site. The Company acquired this facility in 1997, operated the facility until 2000, and sold the facility to a third party in 2002. In June 2010, the Company was contacted by the Roosevelt Irrigation District (“RID”) informing it that the Arizona Department of Environmental Quality (“ADEQ”) had approved a remediation plan in excess of $100 million for the RID portion of the Superfund Site, and demanded that the Company contribute to the cost of the plan or be named as a defendant in a CERCLA action to be filed in July 2010. The Company initiated settlement discussions with the RID and the ADEQ in July 2010 to provide a full release from the RID and a covenant not-to-sue and contribution protection regarding the former branch property from the ADEQ, in exchange for payment from the Company. If the settlement is approved by all parties, it will prevent any third party from successfully bringing claims against the Company for environmental contamination relating to this former branch property. The Company has been awaiting approval from the ADEQ since the settlement was first proposed in July 2010. Based on communications with the RID and ADEQ in May 2012, the Company does not expect to receive a response regarding the approval of the settlement from the ADEQ for, at least, several additional months. Based upon the Company’s limited period of ownership of the former branch property, and the fact that it no longer owns the former branch property, it does not anticipate that the ADEQ will reject the proposed settlement, but no assurance can be given at this time as to the ADEQ’s response to the settlement proposal. The proposed settlement terms have been accrued and did not have a material adverse effect on the Company’s financial condition or results of operations, and it believes that any ongoing proceedings will not have a material adverse effect on the Company’s financial condition or results of operations.</font></p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal"> </font></p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-WEIGHT: normal">In January 2006, the Company received a letter from the North Carolina Department of Environment and Natural Resources indicating that a site that the Company formerly owned near Charlotte, North Carolina has been included on the state's October 2005 Inactive Hazardous Waste Sites Priority List. The letter states that the Company was being notified in fulfillment of the state's “statutory duty” to notify those who own and those who at present are known to be responsible for each Site on the Priority List. No action is being requested from the Company at this time, and the Company has received no further notices or communications regarding this matter from the state of North Carolina. The Company does not expect that this designation will have a material adverse effect on its financial condition or results of operations.</font></p> </div> | ||
us-gaap |
Revenues From External Customers
RevenuesFromExternalCustomers
|
640090000 | ||
CY2012Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
106000 | |
CY2012Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
3071000 | |
CY2012Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.03 | |
us-gaap |
Depreciation
Depreciation
|
6614000 | ||
us-gaap |
Gross Profit
GrossProfit
|
59410000 | ||
us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
1142000 | ||
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
29957000 | ||
us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
673000 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1567 | shares | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
7006000 | ||
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-231000 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
777000 | ||
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
7006000 | ||
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
4218000 | ||
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.44 | ||
us-gaap |
Interest Expense
InterestExpense
|
6174000 | ||
wnc |
Proceeds From Issuance Of Senior Notes
ProceedsFromIssuanceOfSeniorNotes
|
145500000 | ||
wnc |
Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
|
47058000 | ||
wnc |
Net Income Loss Available To Common Stockholders Excluding Undistributed Earnings Allocated To Participating Securities
NetIncomeLossAvailableToCommonStockholdersExcludingUndistributedEarningsAllocatedToParticipatingSecurities
|
6946000 | ||
wnc |
Employee Service Share Based Compensation Related To Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition
EmployeeServiceShareBasedCompensationRelatedToNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition
|
2015 | ||
wnc |
Business Acquisition Purchase Price Allocation Goodwill And Intangible Assets Expected Tax Deductible Term
BusinessAcquisitionPurchasePriceAllocationGoodwillAndIntangibleAssetsExpectedTaxDeductibleTerm
|
P15Y | ||
wnc |
Environmental Remediation Cost Amount Approved
EnvironmentalRemediationCostAmountApproved
|
100000000 | ||
CY2011Q4 | us-gaap |
Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
|
26700000 | |
CY2011Q4 | us-gaap |
Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
|
13200000 | |
CY2011Q2 | us-gaap |
Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
|
-668000 | |
CY2011Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
5117000 | |
CY2011Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
11000 | |
CY2011Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
3302000 | |
CY2011Q2 | us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
1.000 | pure |
CY2011Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.03 | |
CY2011Q2 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
371936000 | |
CY2011Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.05 | |
CY2011Q2 | us-gaap |
Selling Expense
SellingExpense
|
3166000 | |
CY2011Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.05 | |
CY2011Q2 | us-gaap |
Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
|
19000 | |
CY2011Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
270855000 | |
CY2011Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
357000 | shares |
CY2011Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
7957000 | |
CY2011Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
68444000 | shares |
CY2011Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
287095000 | |
CY2011Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
3313000 | |
CY2011Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.05 | |
CY2011Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.03 | |
CY2011Q2 | us-gaap |
Interest Expense
InterestExpense
|
1147000 | |
CY2011Q2 | wnc |
Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
|
11262000 | |
CY2011Q2 | wnc |
Net Income Loss Available To Common Stockholders Excluding Undistributed Earnings Allocated To Participating Securities
NetIncomeLossAvailableToCommonStockholdersExcludingUndistributedEarningsAllocatedToParticipatingSecurities
|
3283000 | |
CY2012Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
8568000 | |
CY2012Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
175000 | |
CY2012Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
2048000 | |
CY2012Q2 | us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
1.000 | pure |
CY2012Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
0.26 | |
CY2012Q2 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
401142000 | |
CY2012Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.03 | |
CY2012Q2 | us-gaap |
Selling Expense
SellingExpense
|
5482000 | |
CY2012Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.03 | |
CY2012Q2 | us-gaap |
Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
|
16000 | |
CY2012Q2 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
322727000 | |
CY2012Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
202000 | shares |
CY2012Q2 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
17442000 | |
CY2012Q2 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
700000 | |
CY2012Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1801 | shares |
CY2012Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1942000 | |
CY2012Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-231000 | |
CY2012Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1129000 | |
CY2012Q2 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
1942000 | |
CY2012Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
0.25 | |
CY2012Q2 | us-gaap |
Interest Expense
InterestExpense
|
5441000 | |
CY2012Q2 | wnc |
Business Acquisition Pro Forma Operating Income Loss
BusinessAcquisitionProFormaOperatingIncomeLoss
|
26372000 | |
CY2012Q2 | wnc |
Net Income Loss Available To Common Stockholders Excluding Undistributed Earnings Allocated To Participating Securities
NetIncomeLossAvailableToCommonStockholdersExcludingUndistributedEarningsAllocatedToParticipatingSecurities
|
1926000 | |
CY2011Q3 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | Segment |
CY2011Q4 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | Segment |