$WTS
WATTS WATER TECHNOLOGIES INC

2013 Q3 Form 10-Q Financial Statement

#000110465913081632 Filed on November 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q4 2012 Q3
Revenue $371.8M $354.5M $352.8M
YoY Change 5.39% -0.84% -4.0%
Cost Of Revenue $237.9M $225.9M $225.1M
YoY Change 5.69% -3.91% -8.27%
Gross Profit $133.9M $128.6M $127.7M
YoY Change 4.86% 0.55% -5.06%
Gross Profit Margin 36.01% 36.28% 36.2%
Selling, General & Admin $100.7M $95.10M $91.70M
YoY Change 9.81% 2.7% -6.62%
% of Gross Profit 75.21% 73.95% 71.81%
Research & Development $5.200M $4.900M
YoY Change 6.12% -14.04%
% of Gross Profit 3.88% 3.84%
Depreciation & Amortization $12.10M $12.50M $11.70M
YoY Change 3.42% -1.57% -17.02%
% of Gross Profit 9.04% 9.72% 9.16%
Operating Expenses $105.9M $95.10M $96.60M
YoY Change 9.63% -2.86% -7.03%
Operating Profit $30.20M $33.50M $32.50M
YoY Change -7.08% -18.69% 22.18%
Interest Expense $5.100M -$6.000M $6.100M
YoY Change -16.39% -192.31% -8.96%
% of Operating Profit 16.89% -17.91% 18.77%
Other Income/Expense, Net -$5.300M -$700.0K -$5.400M
YoY Change -1.85% -88.33% -23.94%
Pretax Income $24.90M $24.00M $27.10M
YoY Change -8.12% -31.82% 38.97%
Income Tax $7.400M $5.800M $8.800M
% Of Pretax Income 29.72% 24.17% 32.47%
Net Earnings $15.40M $15.50M $18.50M
YoY Change -16.76% -34.6% 26.71%
Net Earnings / Revenue 4.14% 4.37% 5.24%
Basic Earnings Per Share $0.43 $0.44 $0.53
Diluted Earnings Per Share $0.43 $0.44 $0.53
COMMON SHARES
Basic Shares Outstanding 35.40M shares 35.10M shares
Diluted Shares Outstanding 35.60M shares 35.20M shares

Balance Sheet

Concept 2013 Q3 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $227.2M $273.4M $171.9M
YoY Change 32.17% 9.19% -36.52%
Cash & Equivalents $227.2M $271.3M $209.5M
Short-Term Investments $0.00 $2.100M $4.100M
Other Short-Term Assets $46.00M $55.70M $78.30M
YoY Change -41.25% -27.0% -3.69%
Inventory $310.8M $288.0M $298.9M
Prepaid Expenses
Receivables $228.9M $206.2M $219.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $812.9M $823.3M $805.4M
YoY Change 0.93% 1.08% -11.2%
LONG-TERM ASSETS
Property, Plant & Equipment $219.4M $221.7M $216.1M
YoY Change 1.53% 0.59% -14.31%
Goodwill $509.8M $504.0M $496.8M
YoY Change 2.62% 3.15% -3.48%
Intangibles $135.6M $145.4M $149.1M
YoY Change -9.05% -3.71%
Long-Term Investments
YoY Change
Other Assets $9.100M $9.800M $9.700M
YoY Change -6.19% -2.97% -14.91%
Total Long-Term Assets $877.5M $885.7M $885.6M
YoY Change -0.91% 0.7% -9.02%
TOTAL ASSETS
Total Short-Term Assets $812.9M $823.3M $805.4M
Total Long-Term Assets $877.5M $885.7M $885.6M
Total Assets $1.690B $1.709B $1.691B
YoY Change -0.04% 0.89% -10.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $134.6M $131.3M $128.5M
YoY Change 4.75% 4.12% -8.93%
Accrued Expenses $173.6M $113.9M $156.9M
YoY Change 10.64% -34.54% -5.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.100M $77.10M $77.00M
YoY Change -97.27% 3755.0% 5033.33%
Total Short-Term Liabilities $310.3M $368.4M $376.9M
YoY Change -17.67% 28.99% 20.26%
LONG-TERM LIABILITIES
Long-Term Debt $306.2M $307.5M $307.8M
YoY Change -0.52% -22.62% -35.12%
Other Long-Term Liabilities $44.90M $48.70M $38.50M
YoY Change 16.62% 26.49% -25.24%
Total Long-Term Liabilities $351.1M $356.2M $346.3M
YoY Change 1.39% -18.28% -34.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $310.3M $368.4M $376.9M
Total Long-Term Liabilities $351.1M $356.2M $346.3M
Total Liabilities $661.4M $724.6M $723.2M
YoY Change -8.55% 0.43% -19.81%
SHAREHOLDERS EQUITY
Retained Earnings $512.6M $498.1M $486.8M
YoY Change 5.3% -3.3%
Common Stock $468.2M $448.7M $438.7M
YoY Change 6.72% 6.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $985.9M $939.5M $912.4M
YoY Change
Total Liabilities & Shareholders Equity $1.690B $1.709B $1.691B
YoY Change -0.04% 0.89% -10.07%

Cashflow Statement

Concept 2013 Q3 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $15.40M $15.50M $18.50M
YoY Change -16.76% -34.6% 26.71%
Depreciation, Depletion And Amortization $12.10M $12.50M $11.70M
YoY Change 3.42% -1.57% -17.02%
Cash From Operating Activities $45.90M $59.80M $20.70M
YoY Change 121.74% 66.11% 3.5%
INVESTING ACTIVITIES
Capital Expenditures $4.600M -$12.00M $9.100M
YoY Change -49.45% -372.73% 68.52%
Acquisitions
YoY Change
Other Investing Activities $7.900M $10.60M $800.0K
YoY Change 887.5% -100.49%
Cash From Investing Activities $3.300M -$1.400M -$3.900M
YoY Change -184.62% -70.21% -97.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.100M 2.500M -77.40M
YoY Change -88.24% -105.27% 514.29%
NET CHANGE
Cash From Operating Activities 45.90M 59.80M 20.70M
Cash From Investing Activities 3.300M -1.400M -3.900M
Cash From Financing Activities -9.100M 2.500M -77.40M
Net Change In Cash 40.10M 60.90M -60.60M
YoY Change -166.17% -478.26% -62.08%
FREE CASH FLOW
Cash From Operating Activities $45.90M $59.80M $20.70M
Capital Expenditures $4.600M -$12.00M $9.100M
Free Cash Flow $41.30M $71.80M $11.60M
YoY Change 256.03% 127.22% -20.55%

Facts In Submission

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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Estimates</font></i></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> <p style="MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p> </div>
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1000000 USD
CY2013Q3 us-gaap Long Lived Assets Held For Sale Impairment Charge
LongLivedAssetsHeldForSaleImpairmentCharge
200000 USD
CY2012Q3 us-gaap Long Lived Assets Held For Sale Impairment Charge
LongLivedAssetsHeldForSaleImpairmentCharge
1400000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
271300000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
227200000 USD

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