$WNC
WABASH NATIONAL Corp

2014 Q2 Form 10-Q Financial Statement

#000114420414045489 Filed on July 29, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $486.0M $413.1M
YoY Change 17.64% 13.99%
Cost Of Revenue $424.4M $354.3M
YoY Change 19.8% 9.77%
Gross Profit $61.61M $58.85M
YoY Change 4.69% 48.32%
Gross Profit Margin 12.68% 14.25%
Selling, General & Admin $22.29M $22.71M
YoY Change -1.85% 47.12%
% of Gross Profit 36.17% 38.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $22.29M $22.71M
YoY Change -1.85% 47.12%
Operating Profit $33.86M $30.45M
YoY Change 11.17% 255.42%
Interest Expense $5.733M $6.577M
YoY Change -12.83% 20.88%
% of Operating Profit 16.93% 21.6%
Other Income/Expense, Net -$1.048M -$333.0K
YoY Change 214.71% 494.64%
Pretax Income $27.07M $23.54M
YoY Change 15.0% 666.59%
Income Tax $10.84M $9.407M
% Of Pretax Income 40.02% 39.96%
Net Earnings $16.24M $14.14M
YoY Change 14.89% 627.86%
Net Earnings / Revenue 3.34% 3.42%
Basic Earnings Per Share $0.23 $0.20
Diluted Earnings Per Share $0.23 $0.20
COMMON SHARES
Basic Shares Outstanding 68.94K shares 68.44K shares
Diluted Shares Outstanding 71.56K shares 68.86K shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $82.33M $45.42M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $256.1M $243.7M
Prepaid Expenses
Receivables $131.5M $124.6M
Other Receivables
Total Short-Term Assets $492.3M $461.1M
YoY Change 6.77% 17.42%
LONG-TERM ASSETS
Property, Plant & Equipment $136.8M $138.5M
YoY Change -1.23% 9.1%
Goodwill $149.4M $150.3M
YoY Change -0.58% -0.8%
Intangibles $148.4M $170.0M
YoY Change -12.73% -4.33%
Long-Term Investments
YoY Change
Other Assets $12.78M $10.30M
YoY Change 24.12% -18.88%
Total Long-Term Assets $447.6M $478.3M
YoY Change -6.43% 2.03%
TOTAL ASSETS
Total Short-Term Assets $492.3M $461.1M
Total Long-Term Assets $447.6M $478.3M
Total Assets $939.9M $939.4M
YoY Change 0.05% 9.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $128.4M $126.0M
YoY Change 1.85% -17.61%
Accrued Expenses $92.37M $93.99M
YoY Change -1.72% 14.22%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $3.255M $3.923M
YoY Change -17.03% 30.77%
Total Short-Term Liabilities $225.5M $225.6M
YoY Change -0.05% -5.66%
LONG-TERM LIABILITIES
Long-Term Debt $340.1M $397.2M
YoY Change -14.37% -9.54%
Other Long-Term Liabilities $17.08M $16.73M
YoY Change 2.12% 362.13%
Total Long-Term Liabilities $357.2M $413.9M
YoY Change -13.7% -6.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $225.5M $225.6M
Total Long-Term Liabilities $357.2M $413.9M
Total Liabilities $351.3K $410.0K
YoY Change -14.32% -99.94%
SHAREHOLDERS EQUITY
Retained Earnings -$253.6M -$303.8M
YoY Change -16.52% -28.06%
Common Stock $709.0K $703.0K
YoY Change 0.85% 0.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.65M $27.15M
YoY Change 5.51% 0.13%
Treasury Stock Shares 1.987M shares 1.874M shares
Shareholders Equity $349.8M $291.7M
YoY Change
Total Liabilities & Shareholders Equity $939.9M $939.4M
YoY Change 0.05% 9.04%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $16.24M $14.14M
YoY Change 14.89% 627.86%
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
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26592000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
9078000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1952000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1184000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6640000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8469000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6579000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4152000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15985000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-2500000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-4223000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20064000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
71000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
191000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1655000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
651000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
366000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
651000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
366000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
884000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1070000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
20750000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
21385000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
151000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
235000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
981000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
35000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
1497000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-22610000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-22532000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-36034000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-30930000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81449000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
45415000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.5in"> <div><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>1.</b></div> </td> <td> <div><b>DESCRIPTION OF THE BUSINESS</b></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal" align="justify">The condensed consolidated financial statements of Wabash National Corporation (the &#8220;Company&#8221;) have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the &#8220;SEC&#8221;). 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. 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 periods previously reported. 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&#8217;s 2013 Annual Report on Form 10-K.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
169000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
189000 USD
CY2013Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
112000 USD
CY2014Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
88000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
169000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
189000 USD
CY2013Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
112000 USD
CY2014Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
88000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-698000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-533000 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2014-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
WABASH NATIONAL CORP /DE
dei Entity Central Index Key
EntityCentralIndexKey
0000879526
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
WNC
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
68974371 shares
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
4700000 USD
CY2010Q2 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
100000000 USD

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