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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CIRCOR International Inc | NYSE:CIR | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 56.00 | 0 | 01:00:00 |
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x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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o
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
|
|
|
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Delaware
|
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04-3477276
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(State or Other Jurisdiction of
Incorporation or Organization)
|
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(I.R.S. Employer
Identification No.)
|
|
|
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c/o CIRCOR, Inc.
30 Corporate Drive, Suite 200, Burlington, MA
|
|
01803-4238
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(Address of principal executive offices)
|
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(Zip Code)
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|
Large accelerated filer
|
x
|
|
Accelerated filer
|
o
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Non-accelerated filer
|
o
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(Do not check if a smaller reporting company)
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Smaller reporting company
|
o
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Page
|
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|
||
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Consolidated Balance Sheets as of March 30, 2014 (Unaudited) and December 31, 2013.
|
|
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Consolidated Statements of Income for the Three Months Ended March 30, 2014 and March 31, 2013 (Unaudited).
|
|
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Statements of Consolidated Comprehensive Income (Loss) for the Three Months Ended March 30, 2014 and March 31, 2013 (Unaudited).
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|
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Consolidated Statement of Cash Flows for the Three Months Ended March 30, 2014 and March 31, 2013 (Unaudited).
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||
Certifications
|
|
ITEM 1.
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FINANCIAL STATEMENTS
|
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March 30, 2014
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December 31, 2013
|
||||
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(Unaudited)
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|
|
||||
ASSETS
|
|
|
|
||||
CURRENT ASSETS:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
122,097
|
|
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$
|
102,180
|
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Short-term investments
|
92
|
|
|
95
|
|
||
Trade accounts receivable, less allowance for doubtful accounts of $2,543 and $2,449, respectively
|
154,821
|
|
|
144,742
|
|
||
Inventories, net
|
199,200
|
|
|
199,404
|
|
||
Prepaid expenses and other current assets
|
20,496
|
|
|
19,815
|
|
||
Deferred income tax asset
|
17,566
|
|
|
17,686
|
|
||
Total Current Assets
|
514,272
|
|
|
483,922
|
|
||
PROPERTY, PLANT AND EQUIPMENT, NET
|
106,455
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|
|
107,724
|
|
||
OTHER ASSETS:
|
|
|
|
||||
Goodwill
|
75,999
|
|
|
75,876
|
|
||
Intangibles, net
|
34,924
|
|
|
35,656
|
|
||
Deferred income tax asset
|
17,167
|
|
|
18,579
|
|
||
Other assets
|
5,140
|
|
|
4,893
|
|
||
TOTAL ASSETS
|
$
|
753,957
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|
|
$
|
726,650
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LIABILITIES AND SHAREHOLDERS’ EQUITY
|
|
|
|
||||
CURRENT LIABILITIES:
|
|
|
|
||||
Accounts payable
|
$
|
83,391
|
|
|
$
|
70,589
|
|
Accrued expenses and other current liabilities
|
56,710
|
|
|
57,507
|
|
||
Accrued compensation and benefits
|
25,191
|
|
|
31,289
|
|
||
Income taxes payable
|
4,946
|
|
|
3,965
|
|
||
Notes payable and current portion of long-term debt
|
10,519
|
|
|
7,203
|
|
||
Total Current Liabilities
|
180,757
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|
|
170,553
|
|
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LONG-TERM DEBT, NET OF CURRENT PORTION
|
45,614
|
|
|
42,435
|
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DEFERRED INCOME TAXES
|
9,217
|
|
|
9,666
|
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OTHER NON-CURRENT LIABILITIES
|
25,768
|
|
|
27,109
|
|
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SHAREHOLDERS’ EQUITY:
|
|
|
|
||||
Preferred stock, $0.01 par value; 1,000,000 shares authorized; no shares issued and outstanding
|
—
|
|
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—
|
|
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Common stock, $0.01 par value; 29,000,000 shares authorized; 17,644,008 and 17,610,526 shares issued and outstanding at March 30, 2014 and December 31, 2013, respectively
|
176
|
|
|
176
|
|
||
Additional paid-in capital
|
272,202
|
|
|
269,884
|
|
||
Retained earnings
|
217,045
|
|
|
202,930
|
|
||
Accumulated other comprehensive gain, net of taxes
|
3,178
|
|
|
3,897
|
|
||
Total Shareholders’ Equity
|
492,601
|
|
|
476,887
|
|
||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
|
$
|
753,957
|
|
|
$
|
726,650
|
|
|
Three Months Ended
|
||||||
|
March 30,
2014 |
|
March 31,
2013 |
||||
Net revenues
|
$
|
211,186
|
|
|
$
|
205,398
|
|
Cost of revenues
|
146,548
|
|
|
145,549
|
|
||
GROSS PROFIT
|
64,638
|
|
|
59,849
|
|
||
Selling, general and administrative expenses
|
44,888
|
|
|
45,571
|
|
||
Special (recoveries) charges, net
|
(1,157
|
)
|
|
1,378
|
|
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OPERATING INCOME
|
20,907
|
|
|
12,900
|
|
||
Other (income) expense:
|
|
|
|
||||
Interest expense, net
|
918
|
|
|
787
|
|
||
Other (income) expense, net
|
(468
|
)
|
|
612
|
|
||
TOTAL OTHER EXPENSE, NET
|
450
|
|
|
1,399
|
|
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INCOME BEFORE INCOME TAXES
|
20,457
|
|
|
11,501
|
|
||
Provision for income taxes
|
5,825
|
|
|
3,592
|
|
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NET INCOME
|
$
|
14,632
|
|
|
$
|
7,908
|
|
Earnings per common share:
|
|
|
|
||||
Basic
|
$
|
0.83
|
|
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$
|
0.45
|
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Diluted
|
$
|
0.82
|
|
|
$
|
0.45
|
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Weighted average number of common shares outstanding:
|
|
|
|
||||
Basic
|
17,620
|
|
|
17,511
|
|
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Diluted
|
17,741
|
|
|
17,529
|
|
||
Dividends paid per common share
|
$
|
0.0375
|
|
|
$
|
0.0375
|
|
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Three Months Ended
|
||||||
|
March 30, 2014
|
|
March 31, 2013
|
||||
Net income
|
$
|
14,632
|
|
|
$
|
7,908
|
|
Other comprehensive loss, net of tax:
|
|
|
|
||||
Foreign currency translation adjustments
|
(715
|
)
|
|
(8,644
|
)
|
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Other comprehensive loss
|
(715
|
)
|
|
(8,644
|
)
|
||
COMPREHENSIVE INCOME (LOSS)
|
$
|
13,917
|
|
|
$
|
(736
|
)
|
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Three Months Ended
|
||||||
|
March 30,
2014 |
|
March 31,
2013 |
||||
OPERATING ACTIVITIES
|
|
|
|
||||
Net income
|
$
|
14,632
|
|
|
$
|
7,908
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
||||
Depreciation
|
4,069
|
|
|
4,009
|
|
||
Amortization
|
786
|
|
|
758
|
|
||
Compensation expense of share-based plans
|
1,830
|
|
|
1,028
|
|
||
Tax effect of share-based plan compensation
|
(571
|
)
|
|
(285
|
)
|
||
(Gain) loss on disposal of property, plant and equipment
|
34
|
|
|
(66
|
)
|
||
Change in operating assets and liabilities:
|
|
|
|
||||
Trade accounts receivable, net
|
(9,952
|
)
|
|
(2,455
|
)
|
||
Inventories, net
|
234
|
|
|
(6,461
|
)
|
||
Prepaid expenses and other assets
|
(859
|
)
|
|
(827
|
)
|
||
Accounts payable, accrued expenses and other liabilities
|
6,854
|
|
|
2,198
|
|
||
Net cash provided by operating activities
|
17,057
|
|
|
5,807
|
|
||
INVESTING ACTIVITIES
|
|
|
|
||||
Additions to property, plant and equipment
|
(2,670
|
)
|
|
(4,707
|
)
|
||
Proceeds from the sale of property, plant and equipment
|
13
|
|
|
75
|
|
||
Net cash used in investing activities
|
(2,657
|
)
|
|
(4,632
|
)
|
||
FINANCING ACTIVITIES
|
|
|
|
||||
Proceeds from long-term debt
|
48,029
|
|
|
33,598
|
|
||
Payments of long-term debt
|
(41,781
|
)
|
|
(37,655
|
)
|
||
Dividends paid
|
(670
|
)
|
|
(670
|
)
|
||
Proceeds from the exercise of stock options
|
192
|
|
|
1,368
|
|
||
Tax effect of share-based compensation
|
571
|
|
|
285
|
|
||
Net cash (used in) provided by financing activities
|
6,341
|
|
|
(3,074
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(824
|
)
|
|
(2,207
|
)
|
||
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
19,917
|
|
|
(4,106
|
)
|
||
Cash and cash equivalents at beginning of period
|
102,180
|
|
|
61,738
|
|
||
CASH AND CASH EQUIVALENTS AT END OF PERIOD
|
$
|
122,097
|
|
|
$
|
57,632
|
|
Supplemental Cash Flow Information:
|
|
|
|
||||
Cash paid during the period presented for:
|
|
|
|
||||
Income taxes
|
$
|
2,913
|
|
|
$
|
1,462
|
|
Interest
|
$
|
678
|
|
|
$
|
655
|
|
2013 CEO Option Award
|
|
Stock Price Target
|
Cumulative Vested Portion of Stock Options (in Shares)
|
$50.00
|
50,000
|
$60.00
|
100,000
|
$70.00
|
150,000
|
$80.00
|
200,000
|
2013 CFO and 2014 CEO Option Award
|
|
Stock Price Target
|
Cumulative Vested Portion of Stock Options (in Shares)
|
$87.50
|
25,000
|
$100.00
|
50,000
|
$112.50
|
75,000
|
$125.00
|
100,000
|
Risk-free interest rate
|
1.8
|
%
|
Expected life (years)
|
3.7
|
|
Expected stock volatility
|
41.4
|
%
|
Expected dividend yield
|
0.2
|
%
|
|
March 30, 2014
|
|
December 31, 2013
|
||||
Raw materials
|
$
|
62,502
|
|
|
$
|
59,255
|
|
Work in process
|
95,826
|
|
|
95,236
|
|
||
Finished goods
|
40,872
|
|
|
44,913
|
|
||
|
$
|
199,200
|
|
|
$
|
199,404
|
|
|
Energy
|
|
Aerospace & Defense
|
|
Consolidated
Total
|
||||||
Goodwill as of December 31, 2013
|
$
|
52,930
|
|
|
$
|
22,946
|
|
|
$
|
75,876
|
|
Currency translation adjustments
|
118
|
|
|
5
|
|
|
123
|
|
|||
Goodwill as of March 30, 2014
|
$
|
53,048
|
|
|
$
|
22,951
|
|
|
$
|
75,999
|
|
|
Gross
Carrying
Amount
|
|
Accumulated
Amortization
|
||||
Patents
|
$
|
6,068
|
|
|
$
|
(5,692
|
)
|
Non-amortized intangibles (primarily trademarks and trade names)
|
17,017
|
|
|
—
|
|
||
Customer relationships
|
34,592
|
|
|
(19,594
|
)
|
||
Backlog
|
1,150
|
|
|
(1,150
|
)
|
||
Other
|
7,614
|
|
|
(5,081
|
)
|
||
Total
|
$
|
66,441
|
|
|
$
|
(31,517
|
)
|
Net carrying value of intangible assets
|
$
|
34,924
|
|
|
|
|
2014
|
|
2015
|
|
2016
|
|
2017
|
|
2018
|
|
After 2019
|
||||||||||||
Estimated amortization expense
|
$
|
2,335
|
|
|
$
|
3,102
|
|
|
$
|
2,815
|
|
|
$
|
2,679
|
|
|
$
|
2,423
|
|
|
$
|
4,536
|
|
|
Energy
|
|
Aerospace & Defense
|
|
Corporate /
Eliminations
|
|
Consolidated
Total
|
|||||||
Three Months Ended March 30, 2014
|
|
|
|
|
|
|
|
|||||||
Net revenues
|
$
|
162,587
|
|
|
$
|
48,599
|
|
|
|
|
|
$
|
211,186
|
|
Inter-segment revenues
|
206
|
|
|
79
|
|
|
(285
|
)
|
|
—
|
|
|||
Operating income (loss)
|
21,774
|
|
|
6,570
|
|
|
(7,437
|
)
|
|
20,907
|
|
|||
Interest expense, net
|
|
|
|
|
|
|
918
|
|
||||||
Other (income) expense, net
|
|
|
|
|
|
|
(468
|
)
|
||||||
Income before income taxes
|
|
|
|
|
|
|
$
|
20,457
|
|
|||||
Identifiable assets
|
600,637
|
|
|
220,402
|
|
|
(67,082
|
)
|
|
753,957
|
|
|||
Capital expenditures
|
1,773
|
|
|
649
|
|
|
248
|
|
|
2,670
|
|
|||
Depreciation and amortization
|
2,816
|
|
|
1,727
|
|
|
312
|
|
|
4,855
|
|
|||
|
|
|
|
|
|
|
|
|||||||
Three Months Ended March 31, 2013
|
|
|
|
|
|
|
|
|||||||
Net revenues
|
$
|
157,104
|
|
|
$
|
48,294
|
|
|
|
|
|
$
|
205,398
|
|
Inter-segment revenues
|
222
|
|
|
5
|
|
|
(227
|
)
|
|
—
|
|
|||
Operating income (loss)
|
16,239
|
|
|
1,938
|
|
|
(5,277
|
)
|
|
12,900
|
|
|||
Interest expense, net
|
|
|
|
|
|
|
787
|
|
||||||
Other (income) expense, net
|
|
|
|
|
|
|
612
|
|
||||||
Income before income taxes
|
|
|
|
|
|
|
$
|
11,501
|
|
|||||
Identifiable assets
|
554,838
|
|
|
225,584
|
|
|
(76,312
|
)
|
|
704,110
|
|
|||
Capital expenditures
|
3,029
|
|
|
1,608
|
|
|
70
|
|
|
4,707
|
|
|||
Depreciation and amortization
|
2,560
|
|
|
1,323
|
|
|
884
|
|
|
4,767
|
|
|
Three Months Ended
|
||||||||||||||||||||
|
March 30, 2014
|
|
March 31, 2013
|
||||||||||||||||||
|
Net
Income
|
|
Shares
|
|
Per Share
Amount
|
|
Net
Income
|
|
Shares
|
|
Per Share
Amount
|
||||||||||
Basic Earnings Per Common Share ("EPS")
|
$
|
14,632
|
|
|
17,620
|
|
|
$
|
0.83
|
|
|
$
|
7,908
|
|
|
17,511
|
|
|
$
|
0.45
|
|
Dilutive securities, common stock options
|
—
|
|
|
121
|
|
|
(0.01
|
)
|
|
—
|
|
|
18
|
|
|
0.00
|
|
||||
Diluted EPS
|
$
|
14,632
|
|
|
17,741
|
|
|
$
|
0.82
|
|
|
$
|
7,908
|
|
|
17,529
|
|
|
$
|
0.45
|
|
Currency
|
Number
|
|
Contract Amount
|
|
Currency
|
U.S. Dollar/Euro
|
8
|
|
74,494
|
|
U.S. Dollars
|
Brazilian Real/Euro
|
3
|
|
0
|
|
Brazilian Reais
|
Balance beginning December 31, 2013
|
$
|
4,194
|
|
Provisions
|
1,222
|
|
|
Claims settled
|
(412
|
)
|
|
Currency translation adjustment
|
7
|
|
|
Balance ending March 30, 2014
|
$
|
5,011
|
|
Term Remaining
|
Maximum Potential
Future Payments
|
||
0–12 months
|
$
|
30,222
|
|
Greater than 12 months
|
15,759
|
|
|
Total
|
$
|
45,981
|
|
|
Three Months Ended
|
||||||
|
March 30,
2014 |
|
March 31,
2013 |
||||
Interest cost on benefits obligation
|
545
|
|
|
491
|
|
||
Estimated return on assets
|
(697
|
)
|
|
(591
|
)
|
||
Loss amortization
|
127
|
|
|
189
|
|
||
Net periodic cost of defined pension benefit plans
|
$
|
(25
|
)
|
|
$
|
89
|
|
|
Special Charges / (Recoveries)
|
||||||||||||||
|
As of and for the three months ended March 30, 2014
|
||||||||||||||
|
Energy
|
|
Aerospace & Defense
|
|
Corporate
|
|
Total
|
||||||||
Accrued special charges as of December 31, 2013
|
|
|
|
|
|
|
$
|
4,180
|
|
||||||
Facility and professional fee related expenses
|
336
|
|
|
84
|
|
|
—
|
|
|
420
|
|
||||
Employee related expenses
|
351
|
|
|
15
|
|
|
—
|
|
|
366
|
|
||||
Total restructuring charges
|
$
|
687
|
|
|
$
|
99
|
|
|
$
|
—
|
|
|
$
|
786
|
|
Watts settlement
|
—
|
|
|
—
|
|
|
300
|
|
|
300
|
|
||||
TMW settlement special gain
|
—
|
|
|
(2,243
|
)
|
|
—
|
|
|
(2,243
|
)
|
||||
Total special charges
|
$
|
687
|
|
|
$
|
(2,144
|
)
|
|
$
|
300
|
|
|
$
|
(1,157
|
)
|
Special charges paid
|
|
|
|
|
|
|
298
|
|
|||||||
Accrued special charges as of March 30, 2014
|
|
|
|
|
|
|
$
|
2,725
|
|
|
Special Charges / (Recoveries)
|
||||||||||||||
|
As of and for the three months ended March 31, 2013
|
||||||||||||||
|
Energy
|
|
Aerospace & Defense
|
|
Corporate
|
|
Total
|
||||||||
Accrued special charges as of December 31, 2012
|
|
|
|
|
|
|
$
|
800
|
|
||||||
Facility and professional fee related expenses
|
380
|
|
|
539
|
|
|
—
|
|
|
919
|
|
||||
Employee related expenses
|
72
|
|
|
387
|
|
|
—
|
|
|
459
|
|
||||
Total restructuring charges
|
$
|
452
|
|
|
$
|
926
|
|
|
$
|
—
|
|
|
$
|
1,378
|
|
Special charges paid
|
|
|
|
|
|
|
2,107
|
|
|||||||
Accrued special charges as of March 31, 2013
|
|
|
|
|
|
|
$
|
71
|
|
|
2012 Announced Restructuring Charges as of
March 30, 2014
|
||||||||||||||
|
Energy
|
|
Aerospace & Defense
|
|
Corporate
|
|
Total
|
||||||||
Facility and professional fee related expenses - incurred to date
|
2,270
|
|
|
2,854
|
|
|
—
|
|
|
5,124
|
|
||||
Employee related expenses - incurred to date
|
1,085
|
|
|
968
|
|
|
—
|
|
|
2,053
|
|
||||
Total restructuring related special charges - incurred to date
|
$
|
3,355
|
|
|
$
|
3,822
|
|
|
$
|
—
|
|
|
$
|
7,177
|
|
|
2013 Announced Restructuring Charges as of
March 30, 2014
|
||||||||||||||
|
Energy
|
|
Aerospace & Defense
|
|
Corporate
|
|
Total
|
||||||||
Facility and professional fee related expenses - incurred to date
|
1,936
|
|
|
473
|
|
|
—
|
|
|
2,409
|
|
||||
Employee related expenses - incurred to date
|
2,839
|
|
|
1,519
|
|
|
—
|
|
|
4,358
|
|
||||
Total restructuring related special charges - incurred to date
|
$
|
4,775
|
|
|
$
|
1,992
|
|
|
$
|
—
|
|
|
$
|
6,767
|
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
|
|
Three Months Ended
|
|
Three Months Ended
|
|
|
|||||||||||
|
March 30, 2014
|
|
March 31, 2013
|
|
% Change
|
|||||||||||
|
(Dollars in thousands)
|
|||||||||||||||
Net revenues
|
$
|
211,186
|
|
|
100.0
|
%
|
|
$
|
205,398
|
|
|
100.0
|
%
|
|
2.8
|
%
|
Cost of revenues
|
146,548
|
|
|
69.4
|
%
|
|
145,549
|
|
|
70.9
|
%
|
|
0.7
|
%
|
||
Gross profit
|
64,638
|
|
|
30.6
|
%
|
|
59,849
|
|
|
29.1
|
%
|
|
8.0
|
%
|
||
Selling, general and administrative expenses
|
44,888
|
|
|
21.3
|
%
|
|
45,571
|
|
|
22.2
|
%
|
|
(1.5
|
)%
|
||
Special (recoveries) charges, net
|
(1,157
|
)
|
|
(0.5
|
)%
|
|
1,378
|
|
|
0.7
|
%
|
|
(184.0
|
)%
|
||
Operating income
|
20,907
|
|
|
9.9
|
%
|
|
12,900
|
|
|
6.3
|
%
|
|
62.1
|
%
|
||
Other (income) expense:
|
|
|
|
|
|
|
|
|
|
|||||||
Interest expense, net
|
918
|
|
|
0.4
|
%
|
|
787
|
|
|
0.4
|
%
|
|
16.6
|
%
|
||
Other (income) expense, net
|
(468
|
)
|
|
(0.2
|
)%
|
|
612
|
|
|
0.3
|
%
|
|
(176.5
|
)%
|
||
Total other expense, net
|
450
|
|
|
0.2
|
%
|
|
1,399
|
|
|
0.7
|
%
|
|
(67.8
|
)%
|
||
Income before income taxes
|
20,457
|
|
|
9.7
|
%
|
|
11,501
|
|
|
5.6
|
%
|
|
77.9
|
%
|
||
Provision for income taxes
|
5,825
|
|
|
2.8
|
%
|
|
3,592
|
|
|
1.7
|
%
|
|
62.2
|
%
|
||
Net income
|
$
|
14,632
|
|
|
6.9
|
%
|
|
$
|
7,908
|
|
|
3.9
|
%
|
|
85.0
|
%
|
|
Three Months Ended
|
|
Total Change
|
|
Operations
|
|
Foreign
Exchange
|
||||||||||||
Segment
|
March 30,
2014 |
|
March 31,
2013 |
|
|||||||||||||||
|
(In thousands)
|
||||||||||||||||||
Energy
|
$
|
162,587
|
|
|
$
|
157,104
|
|
|
$
|
5,483
|
|
|
$
|
4,856
|
|
|
$
|
627
|
|
Aerospace & Defense
|
48,599
|
|
|
48,294
|
|
|
305
|
|
|
(1,099
|
)
|
|
1,404
|
|
|||||
Total
|
$
|
211,186
|
|
|
$
|
205,398
|
|
|
$
|
5,788
|
|
|
$
|
3,757
|
|
|
$
|
2,031
|
|
|
Three Months Ended
|
|
Total Change
|
|
Operations
|
|
Foreign Exchange
|
|
Inventory Restructuring & Special (Recoveries) Charges, net
|
||||||||||||||
Segment
|
March 30,
2014 |
|
March 31,
2013 |
|
|
||||||||||||||||||
Energy
|
$
|
21,774
|
|
|
$
|
16,239
|
|
|
$
|
5,535
|
|
|
$
|
5,437
|
|
|
$
|
111
|
|
|
$
|
(13
|
)
|
Aerospace & Defense
|
6,570
|
|
|
1,938
|
|
|
4,632
|
|
|
7,437
|
|
|
266
|
|
|
(3,071
|
)
|
||||||
Corporate
|
(7,437
|
)
|
|
(5,277
|
)
|
|
(2,160
|
)
|
|
(2,460
|
)
|
|
—
|
|
|
300
|
|
||||||
|
$
|
20,907
|
|
|
$
|
12,900
|
|
|
$
|
8,007
|
|
|
$
|
10,414
|
|
|
$
|
377
|
|
|
$
|
(2,784
|
)
|
ITEM 3.
|
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
|
Currency
|
Number
|
|
Contract Amount
|
|
Currency
|
U.S. Dollar/Euro
|
8
|
|
74,494
|
|
U.S. Dollars
|
Brazilian Real/Euro
|
3
|
|
0
|
|
Brazilian Reais
|
ITEM 4.
|
CONTROLS AND PROCEDURES.
|
ITEM 1.
|
LEGAL PROCEEDINGS.
|
ITEM 1A.
|
RISK FACTORS.
|
ITEM 2.
|
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
|
ITEM 3.
|
DEFAULTS UPON SENIOR SECURITIES.
|
ITEM 4.
|
MINE SAFETY DISCLOSURES.
|
ITEM 5.
|
OTHER INFORMATION.
|
ITEM 6.
|
EXHIBITS.
|
|
|
|
CIRCOR INTERNATIONAL, INC.
|
|
|
April 22, 2014
|
/s/ Scott A. Buckhout
|
|
Scott A. Buckhout
|
|
President and Chief Executive Officer
|
|
Principal Executive Officer
|
|
|
April 22, 2014
|
/s/ Rajeev Bhalla
|
|
Rajeev Bhalla
|
|
Executive Vice President, Chief Financial Officer
|
|
Principal Financial Officer
|
|
|
April 22, 2014
|
/s/ John F. Kober III
|
|
John F. Kober III
|
|
Vice President, Corporate Controller and Treasurer
|
|
Principal Accounting Officer
|
1 Year CIRCOR Chart |
1 Month CIRCOR Chart |
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