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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wesco Aircraft Holdings Inc | NYSE:WAIR | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.04 | 0 | 01:00:00 |
Delaware
|
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20-5441563
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(State of Incorporation)
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(I.R.S. Employer Identification Number)
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Large accelerated filer
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x
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Accelerated filer
|
o
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Non-accelerated filer
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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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|
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Emerging growth company
|
o
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Page
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December 31,
2017 |
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September 30,
2017 |
||||
Assets
|
|
|
|
|
|
||
Current assets
|
|
|
|
|
|
||
Cash and cash equivalents
|
$
|
41,948
|
|
|
$
|
61,625
|
|
Accounts receivable, net of allowance for doubtful accounts of $3,158 and $3,109 at December 31, 2017 and September 30, 2017, respectively
|
253,602
|
|
|
256,301
|
|
||
Inventories
|
856,253
|
|
|
827,870
|
|
||
Prepaid expenses and other current assets
|
16,542
|
|
|
13,733
|
|
||
Income taxes receivable
|
3,057
|
|
|
3,617
|
|
||
Total current assets
|
1,171,402
|
|
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1,163,146
|
|
||
Property and equipment, net
|
49,893
|
|
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50,355
|
|
||
Deferred debt issuance costs, net
|
3,903
|
|
|
3,676
|
|
||
Goodwill
|
266,644
|
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|
266,644
|
|
||
Intangible assets, net
|
174,578
|
|
|
178,292
|
|
||
Deferred tax assets
|
75,400
|
|
|
76,038
|
|
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Other assets
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16,466
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|
15,956
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|
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Total assets
|
$
|
1,758,286
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$
|
1,754,107
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|
||||
Liabilities and Stockholders’ Equity
|
|
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Current liabilities
|
|
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|
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Accounts payable
|
$
|
161,684
|
|
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$
|
184,273
|
|
Accrued expenses and other current liabilities
|
33,896
|
|
|
35,329
|
|
||
Income taxes payable
|
5,614
|
|
|
3,290
|
|
||
Capital lease obligations, current portion
|
3,153
|
|
|
2,952
|
|
||
Short-term borrowings and current portion of long-term debt
|
94,000
|
|
|
75,000
|
|
||
Total current liabilities
|
298,347
|
|
|
300,844
|
|
||
Capital lease obligations, less current portion
|
2,950
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|
2,013
|
|
||
Long-term debt, less current portion
|
783,673
|
|
|
788,838
|
|
||
Deferred income taxes
|
3,797
|
|
|
3,197
|
|
||
Other liabilities
|
17,109
|
|
|
9,484
|
|
||
Total liabilities
|
1,105,876
|
|
|
1,104,376
|
|
||
Commitments and contingencies
|
|
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|
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Stockholders’ equity
|
|
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|
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Preferred stock, $0.001 par value per share: 50,000,000 shares authorized; no shares issued and outstanding
|
—
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—
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|
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Common stock, $0.001 par value, 950,000,000 shares authorized, 99,517,543 and 99,450,902 shares issued and outstanding at December 31, 2017 and September 30, 2017, respectively
|
99
|
|
|
99
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|
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Additional paid-in capital
|
438,310
|
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|
436,522
|
|
||
Accumulated other comprehensive loss
|
(83,361
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)
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|
(84,626
|
)
|
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Retained earnings
|
297,362
|
|
|
297,736
|
|
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Total stockholders’ equity
|
652,410
|
|
|
649,731
|
|
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Total liabilities and stockholders’ equity
|
$
|
1,758,286
|
|
|
$
|
1,754,107
|
|
|
|
Three Months Ended
December 31, |
||||||
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2017
|
|
2016
|
||||
Net sales
|
|
$
|
363,091
|
|
|
$
|
339,371
|
|
Cost of sales
|
|
268,667
|
|
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249,914
|
|
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Gross profit
|
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94,424
|
|
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89,457
|
|
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Selling, general and administrative expenses
|
|
69,852
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|
63,201
|
|
||
Income from operations
|
|
24,572
|
|
|
26,256
|
|
||
Interest expense, net
|
|
(11,838
|
)
|
|
(11,073
|
)
|
||
Other income, net
|
|
260
|
|
|
288
|
|
||
Income before provision for income taxes
|
|
12,994
|
|
|
15,471
|
|
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Provision for income taxes
|
|
(13,368
|
)
|
|
(2,364
|
)
|
||
Net (loss) income
|
|
(374
|
)
|
|
13,107
|
|
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Other comprehensive
income
(loss), net of income taxes
|
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1,265
|
|
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(11,257
|
)
|
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Comprehensive income
|
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$
|
891
|
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$
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1,850
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Net (loss) income per share:
|
|
|
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|
|
|
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Basic
|
|
$
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(0.00
|
)
|
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$
|
0.13
|
|
Diluted
|
|
$
|
(0.00
|
)
|
|
$
|
0.13
|
|
Weighted average shares outstanding:
|
|
|
|
|
|
|
||
Basic
|
|
99,096,914
|
|
|
98,319,926
|
|
||
Diluted
|
|
99,096,914
|
|
|
98,821,794
|
|
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Three Months Ended
December 31, |
||||||
|
2017
|
|
2016
|
||||
Cash flows from operating activities
|
|
|
|
|
|
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Net (loss) income
|
$
|
(374
|
)
|
|
$
|
13,107
|
|
Adjustments to reconcile net income to net cash used in operating activities:
|
|
|
|
|
|
||
Depreciation and amortization
|
7,256
|
|
|
6,729
|
|
||
Amortization of deferred debt issuance costs
|
1,508
|
|
|
3,202
|
|
||
Bad debt and sales return reserve
|
154
|
|
|
458
|
|
||
Stock-based compensation expense
|
1,815
|
|
|
2,690
|
|
||
Inventory provision
|
4,443
|
|
|
2,166
|
|
||
Deferred income taxes
|
593
|
|
|
491
|
|
||
Other non-cash items
|
(95
|
)
|
|
(1,139
|
)
|
||
Subtotal
|
15,300
|
|
|
27,704
|
|
||
Changes in assets and liabilities:
|
|
|
|
|
|
||
Accounts receivable
|
2,020
|
|
|
(2,159
|
)
|
||
Income taxes receivable
|
577
|
|
|
(5,674
|
)
|
||
Inventories
|
(32,960
|
)
|
|
(44,335
|
)
|
||
Prepaid expenses and other assets
|
(3,069
|
)
|
|
(1,993
|
)
|
||
Accounts payable
|
(22,315
|
)
|
|
(8,334
|
)
|
||
Accrued expenses and other liabilities
|
8,226
|
|
|
6,008
|
|
||
Income taxes payable
|
2,341
|
|
|
697
|
|
||
Net cash used in operating activities
|
(29,880
|
)
|
|
(28,086
|
)
|
||
|
|
|
|
||||
Cash flows from investing activities
|
|
|
|
|
|
||
Purchase of property and equipment
|
(1,335
|
)
|
|
(1,316
|
)
|
||
Net cash used in investing activities
|
(1,335
|
)
|
|
(1,316
|
)
|
||
|
|
|
|
||||
Cash flows from financing activities
|
|
|
|
|
|
||
Proceeds from short-term borrowings
|
46,000
|
|
|
25,000
|
|
||
Repayment of short-term borrowings
|
(27,000
|
)
|
|
(5,000
|
)
|
||
Repayment of long-term debt
|
(5,000
|
)
|
|
(6,344
|
)
|
||
Debt issuance costs
|
(1,900
|
)
|
|
(10,462
|
)
|
||
Repayment of capital lease obligations
|
(547
|
)
|
|
(330
|
)
|
||
Net proceeds from exercise of stock options
|
—
|
|
|
2,277
|
|
||
Settlement on restricted stock tax withholding
|
(26
|
)
|
|
—
|
|
||
Net cash provided by financing activities
|
11,527
|
|
|
5,141
|
|
||
Effect of foreign currency exchange rate on cash and cash equivalents
|
11
|
|
|
(1,608
|
)
|
||
Net decrease in cash and cash equivalents
|
(19,677
|
)
|
|
(25,869
|
)
|
||
Cash and cash equivalents, beginning of period
|
61,625
|
|
|
77,061
|
|
||
Cash and cash equivalents, end of period
|
$
|
41,948
|
|
|
$
|
51,192
|
|
|
|
Americas
|
|
EMEA
|
|
APAC
|
|
Total
|
||||||||
Goodwill as of September 30, 2017, gross
|
|
$
|
773,384
|
|
|
$
|
51,190
|
|
|
$
|
16,955
|
|
|
$
|
841,529
|
|
Accumulated impairment
|
|
(569,201
|
)
|
|
—
|
|
|
(5,684
|
)
|
|
(574,885
|
)
|
||||
Goodwill as of September 30, 2017, net
|
|
204,183
|
|
|
51,190
|
|
|
11,271
|
|
|
266,644
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Changes during the period
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
|
||||||||
Goodwill as of December 31, 2017, gross
|
|
773,384
|
|
|
51,190
|
|
|
16,955
|
|
|
841,529
|
|
||||
Accumulated impairment
|
|
(569,201
|
)
|
|
—
|
|
|
(5,684
|
)
|
|
(574,885
|
)
|
||||
Goodwill as of December 31, 2017, net
|
|
$
|
204,183
|
|
|
$
|
51,190
|
|
|
$
|
11,271
|
|
|
$
|
266,644
|
|
|
|
|
Derivative Notional
|
||||||
|
|
|
December 31, 2017
|
|
September 30, 2017
|
||||
Instruments designated as accounting hedges:
|
|
|
|
|
|||||
Interest rate swap contract
|
|
$
|
350,000
|
|
|
$
|
375,000
|
|
|
|
|
|
Fair Value
|
|
||||||
|
|
Balance Sheet Locations
|
|
December 31, 2017
|
|
September 30, 2017
|
|
||||
Instrument designated as accounting hedge:
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
||||
Interest rate swap contract
|
|
Accrued expenses and other current liabilities
|
|
$
|
1,269
|
|
|
$
|
2,462
|
|
|
Interest rate swap contract
|
|
Other liabilities
|
|
101
|
|
|
903
|
|
|
|
|
Location in Consolidated Statement of Comprehensive Income
|
|
Three Months Ended
December 31, |
|
||||||
|
|
|
|
||||||||
Cash Flow Hedge
|
|
|
2017
|
|
2016
|
|
|||||
Interest rate swap contracts
|
|
Interest expense, net
|
|
$
|
557
|
|
|
$
|
252
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
December 31, |
|
||||||
|
|
|
|||||||
Cash Flow Hedge
|
|
2017
|
|
2016
|
|
||||
Interest rate swap contracts
|
|
$
|
1,370
|
|
|
$
|
2,182
|
|
|
AOCI - Unrealized Gain (Loss) on Hedging Instruments
|
|
|
Three Months Ended December 31, 2017
|
|||
Balance at beginning of period
|
|
|
$
|
(2,133
|
)
|
|
Change in fair value of hedging instruments
|
|
|
813
|
|
||
Amounts reclassified to earnings
|
|
|
557
|
|
||
Net current period other comprehensive income
|
|
|
1,370
|
|
||
Balance at end of period
|
|
|
$
|
(763
|
)
|
|
|
Location in Consolidated Statement of Comprehensive Income
|
|
Three Months Ended
December 31, |
||||||
Instruments Not Designated As Hedging Instruments
|
|
|
||||||||
|
|
2017
|
|
2016
|
||||||
Foreign currency forward contracts
|
|
Other income (loss), net
|
|
$
|
—
|
|
|
$
|
(2,595
|
)
|
|
|
|
|
|
|
|
|
December 31, 2017
|
|
September 30, 2017
|
||||||||||||
|
Principal
Amount
|
|
Fair
Value
|
|
Principal
Amount
|
|
Fair
Value
|
||||||||
Term loan A facility
|
$
|
375,000
|
|
|
$
|
372,000
|
|
|
$
|
380,000
|
|
|
$
|
376,960
|
|
Term loan B facility
|
440,562
|
|
|
429,107
|
|
|
440,562
|
|
|
428,667
|
|
||||
Total long-term debt
|
$
|
815,562
|
|
|
$
|
801,107
|
|
|
$
|
820,562
|
|
|
$
|
805,627
|
|
Level 1:
|
Quoted prices in active markets for identical assets or liabilities.
|
Level 2:
|
Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly.
|
Level 3:
|
Unobservable inputs for the asset or liability.
|
December 31, 2017
|
Balance Sheet Locations
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||
Instrument designated as accounting hedge:
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||
Interest rate contract
|
Accrued expenses and other current liabilities
|
|
1,269
|
|
|
—
|
|
|
1,269
|
|
|
—
|
|
|
Interest rate contract
|
Other liabilities
|
|
101
|
|
|
—
|
|
|
101
|
|
|
—
|
|
September 30, 2017
|
Balance Sheet Locations
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||
Instrument designated as accounting hedge:
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||
Interest rate contract
|
Accrued expenses and other current liabilities
|
|
$
|
2,462
|
|
|
$
|
—
|
|
|
$
|
2,462
|
|
|
$
|
—
|
|
|
Interest rate contract
|
Other liabilities
|
|
903
|
|
|
—
|
|
|
903
|
|
|
—
|
|
|
|
December 31, 2017
|
|
September 30, 2017
|
||||||||||||||||||||
|
|
Principal
Amount
|
|
Deferred Debt Issuance Costs
|
|
Carrying
Amount
|
|
Principal
Amount
|
|
Deferred Debt Issuance Costs
|
|
Carrying
Amount
|
||||||||||||
Term loan A facility
|
|
$
|
375,000
|
|
|
$
|
(8,032
|
)
|
|
$
|
366,968
|
|
|
$
|
380,000
|
|
|
$
|
(7,562
|
)
|
|
$
|
372,438
|
|
Term loan B facility
|
|
440,562
|
|
|
(3,857
|
)
|
|
436,705
|
|
|
440,562
|
|
|
(4,162
|
)
|
|
436,400
|
|
||||||
Revolving facility
|
|
74,000
|
|
|
—
|
|
|
74,000
|
|
|
55,000
|
|
|
—
|
|
|
55,000
|
|
||||||
Less: current portion
|
|
(94,000
|
)
|
|
—
|
|
|
(94,000
|
)
|
|
(75,000
|
)
|
|
—
|
|
|
(75,000
|
)
|
||||||
Non-current portion
|
|
$
|
795,562
|
|
|
$
|
(11,889
|
)
|
|
$
|
783,673
|
|
|
$
|
800,562
|
|
|
$
|
(11,724
|
)
|
|
$
|
788,838
|
|
|
|
Term Loan A Facility
|
|
Term Loan B Facility
|
|
Revolving Facility
|
|
Total
|
||||||||
Deferred debt issuance costs as of September 30, 2017
|
|
$
|
7,562
|
|
|
$
|
4,162
|
|
|
$
|
3,676
|
|
|
$
|
15,400
|
|
Deferred debt issuance costs for the Sixth Amendment
|
|
1,295
|
|
|
—
|
|
|
613
|
|
|
1,908
|
|
||||
Amortization of deferred debt issuance costs
|
|
(825
|
)
|
|
(305
|
)
|
|
(386
|
)
|
|
(1,516
|
)
|
||||
Deferred debt issuance costs as of December 31, 2017
|
|
$
|
8,032
|
|
|
$
|
3,857
|
|
|
$
|
3,903
|
|
|
$
|
15,792
|
|
|
Three Months Ended
December 31, |
||||||
|
2017
|
|
2016
|
||||
Net (loss) income
|
$
|
(374
|
)
|
|
$
|
13,107
|
|
Foreign currency translation loss
|
(105
|
)
|
|
(13,439
|
)
|
||
Unrealized gain on cash flow hedging instruments
|
1,370
|
|
|
2,182
|
|
||
Total comprehensive income
|
$
|
891
|
|
|
$
|
1,850
|
|
|
|
Three Months Ended
December 31, |
||||||
|
|
2017
|
|
2016
|
||||
Net (loss) income
|
|
$
|
(374
|
)
|
|
$
|
13,107
|
|
Basic weighted average shares outstanding
|
|
99,096,914
|
|
|
98,319,926
|
|
||
Dilutive effect of stock options and restricted stock
|
|
—
|
|
|
501,868
|
|
||
Dilutive weighted average shares outstanding
|
|
99,096,914
|
|
|
98,821,794
|
|
||
Basic net (loss) income per share
|
|
$
|
(0.00
|
)
|
|
$
|
0.13
|
|
Diluted net (loss) income per share
|
|
$
|
(0.00
|
)
|
|
$
|
0.13
|
|
|
Three Months Ended December 31, 2017
|
||||||||||||||||||
|
Americas
|
|
EMEA
|
|
APAC
|
|
Unallocated Corporate Costs
|
|
Consolidated
|
||||||||||
Net sales
|
$
|
289,515
|
|
|
$
|
64,238
|
|
|
$
|
9,338
|
|
|
$
|
—
|
|
|
$
|
363,091
|
|
Income (loss) from operations
|
25,197
|
|
|
5,152
|
|
|
1,498
|
|
|
(7,275
|
)
|
|
24,572
|
|
|||||
Interest expense, net
|
(10,648
|
)
|
|
(1,164
|
)
|
|
(26
|
)
|
|
—
|
|
|
(11,838
|
)
|
|||||
Capital expenditures
|
958
|
|
|
325
|
|
|
52
|
|
|
—
|
|
|
1,335
|
|
|||||
Depreciation and amortization
|
6,376
|
|
|
806
|
|
|
74
|
|
|
—
|
|
|
7,256
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2016
|
||||||||||||||||||
|
Americas
|
|
EMEA
|
|
APAC
|
|
Unallocated Corporate Costs
|
|
Consolidated
|
||||||||||
Net sales
|
$
|
267,938
|
|
|
$
|
63,905
|
|
|
$
|
7,528
|
|
|
$
|
—
|
|
|
$
|
339,371
|
|
Income (loss) from operations
|
22,027
|
|
|
8,719
|
|
|
436
|
|
|
(4,926
|
)
|
|
26,256
|
|
|||||
Interest expense, net
|
(10,117
|
)
|
|
(930
|
)
|
|
(26
|
)
|
|
—
|
|
|
(11,073
|
)
|
|||||
Capital expenditures
|
1,037
|
|
|
268
|
|
|
11
|
|
|
—
|
|
|
1,316
|
|
|||||
Depreciation and amortization
|
5,934
|
|
|
778
|
|
|
17
|
|
|
—
|
|
|
6,729
|
|
|
As of December 31, 2017
|
||||||||||||||
|
Americas
|
|
EMEA
|
|
APAC
|
|
Consolidated
|
||||||||
Total assets
|
$
|
1,441,365
|
|
|
$
|
270,023
|
|
|
$
|
46,898
|
|
|
$
|
1,758,286
|
|
Goodwill
|
204,183
|
|
|
51,190
|
|
|
11,271
|
|
|
266,644
|
|
|
As of September 30, 2017
|
||||||||||||||
|
Americas
|
|
EMEA
|
|
APAC
|
|
Consolidated
|
||||||||
Total assets
|
$
|
1,436,840
|
|
|
$
|
275,445
|
|
|
$
|
41,822
|
|
|
$
|
1,754,107
|
|
Goodwill
|
204,183
|
|
|
51,190
|
|
|
11,271
|
|
|
266,644
|
|
|
|
Three Months Ended
December 31, |
||||||
(dollars in thousands)
|
|
2017
|
|
2016
|
||||
Provision for income taxes
|
|
$
|
(13,368
|
)
|
|
$
|
(2,364
|
)
|
Effective tax rate
|
|
102.9
|
%
|
|
15.3
|
%
|
|
|
Three Months Ended
December 31, |
||||||
Consolidated Result of Operations
|
|
2017
|
|
2016
|
||||
|
|
(dollars in thousands)
|
||||||
Net sales
|
|
$
|
363,091
|
|
|
$
|
339,371
|
|
|
|
|
|
|
||||
Gross profit
|
|
$
|
94,424
|
|
|
$
|
89,457
|
|
Selling, general & administrative expenses
|
|
69,852
|
|
|
63,201
|
|
||
Income from operations
|
|
24,572
|
|
|
26,256
|
|
||
Interest expense, net
|
|
(11,838
|
)
|
|
(11,073
|
)
|
||
Other income, net
|
|
260
|
|
|
288
|
|
||
Income before income taxes
|
|
12,994
|
|
|
15,471
|
|
||
Income tax provision
|
|
(13,368
|
)
|
|
(2,364
|
)
|
||
Net (loss) income
|
|
$
|
(374
|
)
|
|
$
|
13,107
|
|
|
|
(as a percentage of net sales,
numbers rounded)
|
||||
|
|
|
|
|
||
Net sales
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
||
Gross profit
|
|
26.0
|
%
|
|
26.4
|
%
|
Selling, general & administrative expenses
|
|
19.2
|
%
|
|
18.7
|
%
|
Income from operations
|
|
6.8
|
%
|
|
7.7
|
%
|
Interest expense, net
|
|
(3.3
|
)%
|
|
(3.3
|
)%
|
Other income, net
|
|
0.1
|
%
|
|
0.2
|
%
|
Income before income taxes
|
|
3.6
|
%
|
|
4.6
|
%
|
Income tax provision
|
|
(3.7
|
)%
|
|
(0.7
|
)%
|
Net (loss) income
|
|
(0.1
|
)%
|
|
3.9
|
%
|
|
|
Three Months Ended
December 31, |
||||||
Americas Result of Operations
|
|
2017
|
|
2016
|
||||
|
|
(dollars in thousands)
|
||||||
Net sales
|
|
$
|
289,515
|
|
|
$
|
267,938
|
|
|
|
|
|
|
||||
Gross profit
|
|
74,980
|
|
|
$
|
69,098
|
|
|
Selling, general & administrative expenses
|
|
49,783
|
|
|
47,071
|
|
||
Income from operations
|
|
$
|
25,197
|
|
|
$
|
22,027
|
|
|
|
(as a percentage of net sales,
numbers rounded)
|
||||
|
|
|
|
|
||
Net sales
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
||
Gross profit
|
|
25.9
|
%
|
|
25.8
|
%
|
Selling, general & administrative expenses
|
|
17.2
|
%
|
|
17.6
|
%
|
Income from operations
|
|
8.7
|
%
|
|
8.2
|
%
|
|
|
Three Months Ended
December 31, |
||||||
EMEA Result of Operations
|
|
2017
|
|
2016
|
||||
|
|
(dollars in thousands)
|
||||||
Net sales
|
|
$
|
64,238
|
|
|
$
|
63,905
|
|
|
|
|
|
|
||||
Gross profit
|
|
16,643
|
|
|
18,738
|
|
||
Selling, general & administrative expenses
|
|
11,491
|
|
|
10,019
|
|
||
Income from operations
|
|
$
|
5,152
|
|
|
$
|
8,719
|
|
|
|
(as a percentage of net sales,
numbers rounded)
|
||||
|
|
|
|
|
||
Net sales
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
||
Gross profit
|
|
25.9
|
%
|
|
29.3
|
%
|
Selling, general & administrative expenses
|
|
17.9
|
%
|
|
15.7
|
%
|
Income from operations
|
|
8.0
|
%
|
|
13.6
|
%
|
|
|
Three Months Ended
December 31, |
||||||
APAC Result of Operations
|
|
2017
|
|
2016
|
||||
|
|
(dollars in thousands)
|
||||||
Net sales
|
|
$
|
9,338
|
|
|
$
|
7,528
|
|
|
|
|
|
|
||||
Gross profit
|
|
2,801
|
|
|
1,621
|
|
||
Selling, general & administrative expenses
|
|
1,303
|
|
|
1,185
|
|
||
Income from operations
|
|
$
|
1,498
|
|
|
$
|
436
|
|
|
|
(as a percentage of net sales,
numbers rounded)
|
||||
|
|
|
|
|
||
Net sales
|
|
100
|
%
|
|
100
|
%
|
|
|
|
|
|
||
Gross profit
|
|
30.0
|
%
|
|
21.5
|
%
|
Selling, general & administrative expenses
|
|
14.0
|
%
|
|
15.7
|
%
|
Income from operations
|
|
16.0
|
%
|
|
5.8
|
%
|
•
|
operating expenses;
|
•
|
working capital requirements to fund the growth of our business;
|
•
|
capital expenditures that primarily relate to IT equipment and our warehouse operations; and
|
•
|
debt service requirements for borrowings under the Credit Facilities (as defined below under “—Credit Facilities”).
|
|
|
Three Months Ended December 31,
|
||||||
Consolidated statements of cash flows data:
|
|
2017
|
|
2016
|
||||
Net (loss) income
|
|
$
|
(374
|
)
|
|
$
|
13,107
|
|
Adjustments to reconcile net income to net cash used in operating activities
|
|
15,674
|
|
|
14,597
|
|
||
Subtotal
|
|
15,300
|
|
|
27,704
|
|
||
Changes in assets and liabilities
|
|
(45,180
|
)
|
|
(55,790
|
)
|
||
Net cash used in operating activities
|
|
$
|
(29,880
|
)
|
|
$
|
(28,086
|
)
|
|
|
|
|
|
||||
Net cash used in investing activities
|
|
(1,335
|
)
|
|
(1,316
|
)
|
||
|
|
|
|
|
||||
Net cash provided by financing activities
|
|
11,527
|
|
|
5,141
|
|
Period
|
|
Total
Number of
Shares
Purchased
|
|
|
Average
Price
Paid per
Share
|
|
|
Total Number
of Shares
Purchased
as Part of Publicly
Announced
Plans or
Programs
|
|
|
Approximate
Dollar Value
of Shares that
May Yet Be
Purchased Under
the Plans or
Programs
(in millions)
|
|
||||||||||
October 1, 2017 - October 31, 2017
|
|
|
2,689
|
|
|
|
$
|
9.70
|
|
|
|
|
—
|
|
|
|
$
|
—
|
|
|
||
November 1, 2017 - November 30, 2017
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
||
December 1, 2017 - December 31, 2017
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
—
|
|
|
||
Total
|
|
|
|
|
2,689
|
|
|
|
$
|
9.70
|
|
|
|
|
—
|
|
|
|
$
|
—
|
|
|
Exhibit
Number
|
|
Description
|
|
|
|
|
|
10.1
|
|
|
|
|
|
|
|
31.1
|
|
|
|
|
|
|
|
31.2
|
|
|
|
|
|
|
|
32.1
|
|
|
|
|
|
|
|
101.INS
|
|
|
XBRL Instance Document
|
|
|
|
|
101.SCH
|
|
|
XBRL Taxonomy Extension Schema Document
|
|
|
|
|
101.CAL
|
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
|
101.DEF
|
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
|
101.LAB
|
|
|
XBRL Taxonomy Extension Label Linkbase Document
|
|
|
|
|
101.PRE
|
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
Date: February 8, 2018
|
WESCO AIRCRAFT HOLDINGS, INC.
|
|
|
|
|
|
By:
|
/s/ Todd S. Renehan
|
|
|
Name: Todd S. Renehan
|
|
|
Title: Chief Executive Officer
|
|
|
|
Date: February 8, 2018
|
By:
|
/s/ Kerry A. Shiba
|
|
|
Name: Kerry A. Shiba
|
|
|
Title: Executive Vice President and Chief Financial Officer
|
1 Year Wesco Aircraft Chart |
1 Month Wesco Aircraft Chart |
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