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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Lmi Aerospace, Inc. | NASDAQ:LMIA | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.99 | 13.20 | 14.01 | 0 | 01:00:00 |
ý
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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(a)
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Financial Statements. Filed as part of this Report on Form 11-K are the financial statements and the schedules thereto of the LMI Aerospace, Inc. Profit Sharing and Savings Plan and Trust as required by Form 11-K, together with the report thereon of BKD LLP, independent registered public accountants, dated June 28, 2017.
|
(b)
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Exhibits:
|
Exhibit No.
|
Description
|
23.1
|
Consent of BKD LLP
|
Report of Independent Registered Public Accounting Firm
|
|
|
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Financial Statements
|
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Statements of Net Assets Available for Benefits as of December 31, 2016 and 2015
|
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Statements of Changes in Net Assets Available for Benefits - Years Ended December 31, 2016 and 2015
|
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Notes to Financial Statements as of December 31, 2016 and 2015
|
|
|
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Supplemental Schedule
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Schedule of Assets (Held at End of Year) at December 31, 2016
|
|
|
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|
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||||
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2016
|
|
2015
|
||||
|
|
|
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||||
Assets
|
|
|
|
|
||||
Investments, at fair value
|
|
|
|
|
||||
LMI Aerospace, Inc. Common Stock
|
|
$
|
3,995,379
|
|
|
$
|
4,206,014
|
|
Mutual funds
|
|
65,822,674
|
|
|
68,143,682
|
|
||
Other investments
|
|
3,399,064
|
|
|
2,867,222
|
|
||
Total investments
|
|
73,217,117
|
|
|
75,216,918
|
|
||
|
|
|
|
|
||||
Receivables
|
|
|
|
|
||||
Company contributions receivable
|
|
1,535,035
|
|
|
1,472,331
|
|
||
Employee contributions receivable
|
|
—
|
|
|
180,242
|
|
||
Total receivables
|
|
1,535,035
|
|
|
1,652,573
|
|
||
|
|
|
|
|
||||
Notes receivable from participants
|
|
2,360,888
|
|
|
2,381,029
|
|
||
Total assets
|
|
77,113,040
|
|
|
79,250,520
|
|
||
|
|
|
|
|
||||
Liabilities
|
|
|
|
|
||||
Expenses payable
|
|
49,240
|
|
|
14,576
|
|
||
Excess contributions payable
|
|
177,371
|
|
|
260,608
|
|
||
Total liabilities
|
|
226,611
|
|
|
275,184
|
|
||
|
|
|
|
|
||||
Net assets available for benefits
|
|
$
|
76,886,429
|
|
|
$
|
78,975,336
|
|
|
|
|
|
|
||||
|
|
2016
|
|
2015
|
||||
|
|
|
|
|
||||
Investment Income
|
|
|
|
|
||||
Net appreciation (depreciation) in fair value of investments
|
|
$
|
3,292,206
|
|
|
$
|
(5,222,706
|
)
|
Dividends
|
|
1,575,769
|
|
|
2,366,002
|
|
||
Net investment income (loss)
|
|
4,867,975
|
|
|
(2,856,704
|
)
|
||
|
|
|
|
|
||||
Contributions
|
|
|
|
|
|
|
||
Employer
|
|
1,534,834
|
|
|
1,437,200
|
|
||
Participants
|
|
5,881,298
|
|
|
5,529,409
|
|
||
Rollovers
|
|
347,436
|
|
|
656,755
|
|
||
Total contributions
|
|
7,763,568
|
|
|
7,623,364
|
|
||
|
|
|
|
|
||||
Interest income on notes receivable from participants
|
|
103,654
|
|
|
84,574
|
|
||
Total additions
|
|
12,735,197
|
|
|
4,851,234
|
|
||
|
|
|
|
|
||||
Deductions
|
|
|
|
|
|
|
||
Benefits paid to participants
|
|
14,546,961
|
|
|
13,146,733
|
|
||
Administrative expenses
|
|
277,143
|
|
|
260,709
|
|
||
Total deductions
|
|
14,824,104
|
|
|
13,407,442
|
|
||
Net decrease in net assets available for benefits prior to transfers
|
|
(2,088,907
|
)
|
|
(8,556,208
|
)
|
||
|
|
|
|
|
||||
Assets transfered in related to plan merger
|
|
—
|
|
|
10,729,222
|
|
||
Net (decrease)/increase in net assets available for benefits
|
|
(2,088,907
|
)
|
|
2,173,014
|
|
||
|
|
|
|
|
||||
Net Assets Available for Benefits, Beginning of Year
|
|
78,975,336
|
|
|
76,802,322
|
|
||
Net Assets Available for Benefits, End of Year
|
|
$
|
76,886,429
|
|
|
$
|
78,975,336
|
|
Note 1:
|
Description of the Plan
|
Note 2:
|
Summary of Significant Accounting Policies
|
Level 1
:
|
Valuation based on unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
|
Level 2
:
|
Valuation based on: a) quoted price for similar assets or liabilities in active markets, b) quoted prices for identical or similar assets or liabilities in markets that are not active, c) inputs other than quoted prices that are observable for the asset or liability, and d) inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.
|
Level 3
:
|
Valuation based on inputs that are unobservable and supported by little or no market activity and that are significant to the overall fair value measurement.
|
Note 3:
|
Fair Value of Plan Assets and Liabilities
|
|
|
Assets at Fair Value as of December 31, 2016
|
||||||||||||||
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Registered investment company funds:
|
|
|
|
|
|
|
|
|
||||||||
Balanced funds
|
|
$
|
46,719,189
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
46,719,189
|
|
Domestic equity funds
|
|
13,109,224
|
|
|
—
|
|
|
—
|
|
|
13,109,224
|
|
||||
Bond funds
|
|
2,643,214
|
|
|
—
|
|
|
—
|
|
|
2,643,214
|
|
||||
International equity funds
|
|
3,020,959
|
|
|
—
|
|
|
—
|
|
|
3,020,959
|
|
||||
Sector/specialty funds
|
|
330,088
|
|
|
—
|
|
|
—
|
|
|
330,088
|
|
||||
Other funds
|
|
—
|
|
|
2,469
|
|
|
—
|
|
|
2,469
|
|
||||
Total registered investment company funds
|
|
65,822,674
|
|
|
2,469
|
|
|
—
|
|
|
65,825,143
|
|
||||
Common stock:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
LMI Aerospace, Inc.
|
|
3,995,379
|
|
|
—
|
|
|
—
|
|
|
3,995,379
|
|
||||
Total common stock
|
|
3,995,379
|
|
|
—
|
|
|
—
|
|
|
3,995,379
|
|
||||
Total assets in the fair value hierarchy
|
|
$
|
69,818,053
|
|
|
$
|
2,469
|
|
|
$
|
—
|
|
|
$
|
69,820,522
|
|
Common collective trusts:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Morley Stable Value Fund (1)
|
|
|
|
|
|
|
|
3,396,595
|
|
|||||||
Total assets at fair value
|
|
|
|
|
|
|
|
$
|
73,217,117
|
|
|
|
Assets at Fair Value as of December 31, 2015
|
||||||||||||||
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Registered investment company funds:
|
|
|
|
|
|
|
|
|
||||||||
Balanced funds
|
|
$
|
49,211,843
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
49,211,843
|
|
Domestic equity funds
|
|
12,617,231
|
|
|
—
|
|
|
—
|
|
|
12,617,231
|
|
||||
Bond funds
|
|
2,880,374
|
|
|
—
|
|
|
—
|
|
|
2,880,374
|
|
||||
International equity funds
|
|
2,797,426
|
|
|
—
|
|
|
—
|
|
|
2,797,426
|
|
||||
Sector/specialty funds
|
|
636,808
|
|
|
—
|
|
|
—
|
|
|
636,808
|
|
||||
Other funds
|
|
—
|
|
|
514
|
|
|
—
|
|
|
514
|
|
||||
Total registered investment company funds
|
|
68,143,682
|
|
|
514
|
|
|
—
|
|
|
68,144,196
|
|
||||
Common stock:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
LMI Aerospace, Inc.
|
|
4,206,014
|
|
|
—
|
|
|
—
|
|
|
4,206,014
|
|
||||
Total common stock
|
|
4,206,014
|
|
|
—
|
|
|
—
|
|
|
4,206,014
|
|
||||
Total assets in the fair value hierarchy
|
|
$
|
72,349,696
|
|
|
$
|
514
|
|
|
$
|
—
|
|
|
$
|
72,350,210
|
|
Common collective trusts:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Morley Stable Value Fund (1)
|
|
|
|
|
|
|
|
2,866,708
|
|
|||||||
Total assets at fair value
|
|
|
|
|
|
|
|
|
|
|
$
|
75,216,918
|
|
Note 4:
|
Related Party and Party-in-Interest Transactions
|
Note 5:
|
Risks and Uncertainties
|
Note 6:
|
Reconciliation of Financial Statements to Form 5500
|
|
|
2016
|
|
2015
|
||||
|
|
|
|
|
||||
Net assets available for benefits per the financial statements
|
|
$
|
76,886,429
|
|
|
$
|
78,975,336
|
|
Accrued expenses
|
|
—
|
|
|
14,576
|
|
||
Excess contributions payable
|
|
177,371
|
|
|
260,608
|
|
||
Net assets available for benefits per Form 5500
|
|
$
|
77,063,800
|
|
|
$
|
79,250,520
|
|
|
|
2016
|
|
2015
|
||||
|
|
|
|
|
||||
Net decrease in net assets available for benefits prior to transfers
|
|
$
|
(2,088,907
|
)
|
|
$
|
(8,556,208
|
)
|
Accrued administrative expense, beginning of year
|
|
(14,576
|
)
|
|
(8,788
|
)
|
||
Accrued administrative expense, end of year
|
|
—
|
|
|
14,576
|
|
||
Excess contributions payable, beginning of year
|
|
(260,608
|
)
|
|
—
|
|
||
Excess contributions payable, end of year
|
|
177,371
|
|
|
260,608
|
|
||
Other
|
|
—
|
|
|
(26,491
|
)
|
||
Net income (loss) per Form 5500 line 2k
|
|
$
|
(2,186,720
|
)
|
|
$
|
(8,316,303
|
)
|
Note 7:
|
Excess Contributions Payable
|
Note 8:
|
Subsequent Event
|
Identity of issue, borrower or similar party
|
Description of Investment
|
Current Value
|
|
Cost (1)
|
|
||
Dimensional Fund Advisors Emerging Markets Portfolio
|
Mutual Fund
|
1,122,427
|
|
|
|||
Dimensional Fund Advisors International Small Company
|
Mutual Fund
|
735,415
|
|
|
|||
Dimensional Fund Advisors U.S. Small Cap Value Portfolio
|
Mutual Fund
|
746,673
|
|
|
|||
Vanguard 500 Index Admiral
|
Mutual Fund
|
3,468,259
|
|
|
|||
Vanguard Energy Fund Admiral Shares
|
Mutual Fund
|
330,088
|
|
|
|||
Vanguard Growth Index Admiral
|
Mutual Fund
|
2,399,333
|
|
|
|||
Vanguard Inflation-Protected Securities Fund Class A
|
Mutual Fund
|
762,451
|
|
|
|||
Vanguard MDCP Growth Index Fund
|
Mutual Fund
|
600,400
|
|
|
|||
Vanguard Mid-Cap Index Admiral
|
Mutual Fund
|
1,095,477
|
|
|
|||
Vanguard Mid-Cap Value IDX
|
Mutual Fund
|
994,655
|
|
|
|||
Vanguard Short-Term Bond Admiral
|
Mutual Fund
|
464,415
|
|
|
|||
Vanguard Small-Cap Growth Index Fund
|
Mutual Fund
|
879,203
|
|
|
|||
Vanguard Small-Cap Index Admrl
|
Mutual Fund
|
1,258,178
|
|
|
|||
Vanguard Target Retirement 2010 Fund
|
Mutual Fund
|
338,785
|
|
|
|||
Vanguard Target Retirement 2015 Fund
|
Mutual Fund
|
1,947,792
|
|
|
|||
Vanguard Target Retirement 2020 Fund
|
Mutual Fund
|
7,846,311
|
|
|
|||
Vanguard Target Retirement 2025 Fund
|
Mutual Fund
|
9,562,154
|
|
|
|||
Vanguard Target Retirement 2030 Fund
|
Mutual Fund
|
9,019,440
|
|
|
|||
Vanguard Target Retirement 2035 Fund
|
Mutual Fund
|
7,566,754
|
|
|
|||
Vanguard Target Retirement 2040 Fund
|
Mutual Fund
|
3,243,346
|
|
|
|||
Vanguard Target Retirement 2045 Fund
|
Mutual Fund
|
3,569,054
|
|
|
|||
Vanguard Target Retirement 2050 Fund
|
Mutual Fund
|
2,362,492
|
|
|
|||
Vanguard Target Retirement 2055 Fund
|
Mutual Fund
|
1,003,674
|
|
|
|||
Vanguard Target Retirement 2060 Fund
|
Mutual Fund
|
38,132
|
|
|
|||
Vanguard Target Retirement Income Fund
|
Mutual Fund
|
221,255
|
|
|
|||
Vanguard Ttl Intl Stock IDX Adm
|
Mutual Fund
|
1,163,117
|
|
|
|||
Vanguard Total Bond Market Index
|
Mutual Fund
|
1,416,347
|
|
|
|||
Vanguard Value Index
|
Mutual Fund
|
1,667,047
|
|
|
|||
Morley Stable Value Fund
|
Common Collective Trust
|
3,396,595
|
|
|
|||
Vanguard Federal Money Market Fund
|
Money Market Fund
|
2,468
|
|
|
|||
Schwab Retirement Advantage Money Fund*
|
Money Market Fund
|
1
|
|
|
|||
LMI Aerospace, Inc. Common Stock*
|
Common Stock
|
3,995,379
|
|
|
|||
Notes Receivable from Participants, maturing through 2034*
|
Interest from 3.75% to 5.75%
|
2,360,888
|
|
|
|||
Total Investments per Form 5500
|
|
$
|
75,578,005
|
|
$
|
—
|
|
|
LMI AEROSPACE, INC. PROFIT-SHARING AND SAVINGS PLAN AND TRUST
|
|
|
|
|
|
By:
|
LMI AEROSPACE, INC., as Plan Administrator
|
|
|
|
Date: June 28, 2017
|
By:
|
/s/ Clifford C. Stebe, Jr.
|
|
|
Clifford C. Stebe, Jr.
|
|
|
Chief Financial Officer
|
1 Year Lmi Aerospace, Inc. Chart |
1 Month Lmi Aerospace, Inc. Chart |
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