$WNC
WABASH NATIONAL Corp

2014 Q4 Form 10-Q Financial Statement

#000114420414063374 Filed on October 28, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $527.5M $491.7M $458.4M
YoY Change 15.08% 11.76% 10.22%
Cost Of Revenue $430.1M
YoY Change 13.63%
Gross Profit $62.72M $61.63M $52.59M
YoY Change 19.27% 0.21% -3.22%
Gross Profit Margin 11.89% 12.53% 11.47%
Selling, General & Admin $21.23M
YoY Change -4.32%
% of Gross Profit 34.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $21.23M
YoY Change -4.32%
Operating Profit $34.93M
YoY Change 3.25%
Interest Expense $5.454M
YoY Change -12.76%
% of Operating Profit 15.61%
Other Income/Expense, Net -$610.0K
YoY Change 0.83%
Pretax Income $28.87M
YoY Change 7.01%
Income Tax $10.56M
% Of Pretax Income 36.58%
Net Earnings $19.09M $18.31M $10.42M
YoY Change 83.13% 12.76% -87.0%
Net Earnings / Revenue 3.62% 3.72% 2.27%
Basic Earnings Per Share $0.28 $0.26 $0.15
Diluted Earnings Per Share $0.27 $0.25 $0.15
COMMON SHARES
Basic Shares Outstanding 68.98M shares 68.98K shares
Diluted Shares Outstanding 71.92K shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $146.1M $79.55M $113.3M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $177.1M $184.2M
Prepaid Expenses $10.20M $9.600M
Receivables $135.2M $120.4M
Other Receivables
Total Short-Term Assets $485.7M $449.0M
YoY Change 8.16% 7.39%
LONG-TERM ASSETS
Property, Plant & Equipment $142.9M $142.1M
YoY Change 0.57% 7.52%
Goodwill $149.6M $150.0M
YoY Change -0.24% 2.41%
Intangibles $137.1M $159.2M
YoY Change -13.87% -7.45%
Long-Term Investments
YoY Change
Other Assets $13.40M $10.61M
YoY Change 26.23% -11.98%
Total Long-Term Assets $441.8M $463.2M
YoY Change -4.63% -4.39%
TOTAL ASSETS
Total Short-Term Assets $485.7M $449.0M
Total Long-Term Assets $441.8M $463.2M
Total Assets $927.4M $912.2M
YoY Change 1.67% 1.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.21M $112.2M
YoY Change -14.21% 28.47%
Accrued Expenses $88.69M $99.36M
YoY Change -10.74% -5.26%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $496.0K $3.245M
YoY Change -84.71% -4.02%
Total Short-Term Liabilities $186.9M $216.4M
YoY Change -13.64% 10.0%
LONG-TERM LIABILITIES
Long-Term Debt $324.8M $358.9M
YoY Change -9.51% -13.9%
Other Long-Term Liabilities $18.04M $6.528M
YoY Change 176.35% -57.91%
Total Long-Term Liabilities $342.8M $365.4M
YoY Change -6.18% -15.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $186.9M $216.4M
Total Long-Term Liabilities $342.8M $365.4M
Total Liabilities $332.5K $331.8K $370.6K
YoY Change -10.27% -99.91%
SHAREHOLDERS EQUITY
Retained Earnings -$216.2M -$277.1M
YoY Change -21.99% -14.38%
Common Stock $709.0K $705.0K
YoY Change 0.57% 0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.65M $27.15M
YoY Change 5.51% 0.13%
Treasury Stock Shares 1.987M shares 1.987M shares 1.874M shares
Shareholders Equity $390.8M $322.4M
YoY Change
Total Liabilities & Shareholders Equity $928.7M $912.2M
YoY Change 1.8% 1.07%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $19.09M $18.31M $10.42M
YoY Change 83.13% 12.76% -87.0%
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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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-112000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4256000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4097000 USD
CY2013Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
15600000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 pure
us-gaap Revenues
Revenues
1177332000 USD
us-gaap Revenues
Revenues
1335838000 USD
CY2013Q3 us-gaap Revenues
Revenues
439977000 USD
CY2014Q3 us-gaap Revenues
Revenues
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us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.0 pure
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.0 pure
CY2013Q3 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.0 pure
CY2014Q3 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
1.0 pure
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-152000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
191000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-295000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-152000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
191000 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-295000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
35954000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
41797000 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
16427000 USD
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
18012000 USD
us-gaap Depreciation
Depreciation
12429000 USD
us-gaap Depreciation
Depreciation
12730000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1304000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1042000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
23559000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
14571000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5525000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5509000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1788000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2721000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
33315000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
25094000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-2593000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1961000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
53760000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
14710000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11566000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
9017000 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
-4228000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-25051000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-4789000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
447000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1789000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
910000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
565000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
910000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
565000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1309000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1492000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
42135000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
42078000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
265000 USD
us-gaap Repayments Of Debt
RepaymentsOfDebt
354000 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 Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-44278000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-43632000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-15569000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-33711000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
81449000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65880000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="MARGIN: 0pt 0px; 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"> <div><b>1.</b></div> </td> <td style="TEXT-ALIGN: justify"> <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"> &#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" 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>
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
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
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
68983702 shares

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