UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
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Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
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For the quarterly period ended September 30, 2004 |
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OR |
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Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
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Commission File Number 0-21872 |
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ALDILA, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
13-3645590 |
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(State or other jurisdiction of |
(I.R.S. Employer Identification Number) |
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incorporation or organization) |
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(Address of principal executive offices)
(858) 513-1801
(Registrant’s telephone no., including area code)
www.aldila.com
(Former name, former address and former fiscal year, if changed from last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes ý No o
Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act)
Yes o No ý
As of November 12, 2004 there were 5,126,406 shares of the Registrant’s common stock, par value $0.01 per share, outstanding.
ALDILA, INC.
Table of Contents
Form 10-Q for the Quarterly Period
Ended September 30, 2004
2
PART I - FINANCIAL INFORMATION
ALDILA, INC. AND SUBSIDIARIES
(In thousands, except share data)
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September 30, |
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December 31, |
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2004 |
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2003 |
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(Unaudited) |
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ASSETS |
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CURRENT ASSETS: |
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Cash and cash equivalents |
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$ |
15,034 |
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$ |
6,919 |
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Accounts receivable |
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4,492 |
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4,613 |
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Income taxes receivable |
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854 |
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— |
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Inventories |
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7,780 |
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7,778 |
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Deferred tax assets |
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1,069 |
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— |
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Prepaid expenses and other current assets |
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385 |
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399 |
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Total current assets |
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29,614 |
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19,709 |
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PROPERTY, PLANT AND EQUIPMENT |
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4,658 |
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4,776 |
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INVESTMENT IN JOINT VENTURE |
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3,780 |
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4,287 |
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DEFERRED TAXES |
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667 |
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— |
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OTHER NON-CURRENT ASSETS |
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166 |
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241 |
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TOTAL ASSETS |
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$ |
38,885 |
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$ |
29,013 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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CURRENT LIABILITIES: |
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Accounts payable |
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$ |
3,420 |
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$ |
3,067 |
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Accrued expenses |
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2,599 |
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1,461 |
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Total current liabilities |
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6,019 |
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4,528 |
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LONG-TERM LIABILITIES: |
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Deferred rent and other long-term liabilities |
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24 |
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39 |
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Total liabilities |
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6,043 |
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4,567 |
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COMMITMENTS AND CONTINGENCIES |
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STOCKHOLDERS’ EQUITY: |
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Preferred stock, $.01 par value; authorized 5,000,000 shares; no shares issued |
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Common stock, $.01 par value; authorized 30,000,000 shares; issued and outstanding 5,126,406 shares in 2004 and 4,885,149 shares in 2003, respectively |
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51 |
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48 |
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Additional paid-in capital |
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42,943 |
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41,803 |
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Accumulated deficit |
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(10,152 |
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(17,405 |
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Total stockholders’ equity |
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32,842 |
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24,446 |
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY |
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$ |
38,885 |
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$ |
29,013 |
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See notes to consolidated financial statements.
3
ALDILA, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED
(In thousands, except per share data)
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Three months ended |
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Nine months ended |
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2004 |
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2003 |
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2004 |
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2003 |
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NET SALES |
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$ |
10,772 |
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$ |
7,995 |
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$ |
40,330 |
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$ |
28,022 |
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COST OF SALES |
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8,248 |
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6,102 |
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25,703 |
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22,877 |
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