10-Q Filing

SIFCO INDUSTRIES INC CIK: 90168 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000090168-17-000009`
Period End Date	20161231
Filing Date	20170131
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	sif-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 36 Cash Flow Statement 74 Comprehensive Income 10

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$706.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$591.00K	USD	Point-in-time
Serial preferred shares, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Serial preferred shares, no par value	`PreferredStockNoParValue`	-	USD	Point-in-time
Serial preferred shares, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Serial preferred shares, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$667.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$471.00K	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Receivables, net of allowance for doubtful accounts of $591 and $706, respectively	`ReceivablesNetCurrent`	$25.16M	USD	Point-in-time
Receivables, net of allowance for doubtful accounts of $591 and $706, respectively	`ReceivablesNetCurrent`	$26.41M	USD	Point-in-time
Inventories, net	`InventoryNet`	$27.25M	USD	Point-in-time
Inventories, net	`InventoryNet`	$28.50M	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$1.77M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	5.53M	shares	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$1.77M	USD	Point-in-time
Common shares, shares issued	`CommonStockSharesIssued`	5.53M	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	5.53M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.18M	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	5.53M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$59.23M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$58.08M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$47.15M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$48.96M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.14M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$10.32M	USD	Point-in-time
Goodwill	`Goodwill`	$11.75M	USD	Point-in-time
Goodwill	`Goodwill`	$11.22M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$538.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$222.00K	USD	Point-in-time
Total assets	`Assets`	$130.46M	USD	Point-in-time
Total assets	`Assets`	$128.14M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$18.26M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$8.26M	USD	Point-in-time
Revolving credit agreement	`ShortTermBorrowings`	$25.34M	USD	Point-in-time
Revolving credit agreement	`ShortTermBorrowings`	$12.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.52M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.21M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.23M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$52.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$50.76M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$7.08M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$7.62M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.94M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.93M	USD	Point-in-time
Pension liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$8.10M	USD	Point-in-time
Pension liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$8.34M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$431.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$396.00K	USD	Point-in-time
Serial preferred shares, no par value, authorized 1,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Serial preferred shares, no par value, authorized 1,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Common shares, par value $1 per share, authorized 10,000 shares; issued and outstanding shares 5,529 at December 31, 2016 and 5,525 at September 30, 2016	`CommonStockValue`	$5.53M	USD	Point-in-time
Common shares, par value $1 per share, authorized 10,000 shares; issued and outstanding shares 5,529 at December 31, 2016 and 5,525 at September 30, 2016	`CommonStockValue`	$5.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$58.48M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$55.88M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.65M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.85M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$60.37M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$57.11M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$130.46M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$128.14M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$27.16M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$31.47M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$27.30M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$25.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.17M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.11M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.62M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.30M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$592.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$714.00K	USD	1 Quarter
(Gain) loss on disposal of operating assets	`GainLossOnDispositionOfAssets1`	$6.00K	USD	1 Quarter
(Gain) loss on disposal of operating assets	`GainLossOnDispositionOfAssets1`	$-2.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.23M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.72M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$408.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$678.00K	USD	1 Quarter
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-4.00K	USD	1 Quarter
Foreign currency exchange loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-14.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$107.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$107.00K	USD	1 Quarter
Loss from operations before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.28M	USD	1 Quarter
Loss from operations before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.53M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-1.94M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$327.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.48	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.48	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.48	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.48	USD	1 Quarter
Weighted-average number of common shares (basic) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.47M	shares	1 Quarter
Weighted-average number of common shares (basic) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.45M	shares	1 Quarter
Weighted-average number of common shares (diluted) (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.45M	shares	1 Quarter
Weighted-average number of common shares (diluted) (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.47M	shares	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.78M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.52M	USD	1 Quarter
Amortization and write-off of debt issuance cost	`AmortizationOfFinancingCosts`	$36.00K	USD	1 Quarter
Amortization and write-off of debt issuance cost	`AmortizationOfFinancingCosts`	$273.00K	USD	1 Quarter
Gain on disposal of operating assets	`GainonDispositionofAssets`	$6.00K	USD	1 Quarter
Gain on disposal of operating assets	`GainonDispositionofAssets`	-	USD	1 Quarter
LIFO expense	`InventoryLIFOReservePeriodCharge`	$107.00K	USD	1 Quarter
LIFO expense	`InventoryLIFOReservePeriodCharge`	$34.00K	USD	1 Quarter
Share transactions under company stock plan	`ShareTransactionsUnderCompanyStockPlan`	$138.00K	USD	1 Quarter
Share transactions under company stock plan	`ShareTransactionsUnderCompanyStockPlan`	$317.00K	USD	1 Quarter
Purchase price inventory adjustment	`PurchasePriceAllocationtoInventoryAcquired`	$266.00K	USD	1 Quarter
Purchase price inventory adjustment	`PurchasePriceAllocationtoInventoryAcquired`	-	USD	1 Quarter
Other long-term liabilities	`OtherNoncashLongtermLiabilities`	$64.00K	USD	1 Quarter
Other long-term liabilities	`OtherNoncashLongtermLiabilities`	$2.00K	USD	1 Quarter
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$-565.00K	USD	1 Quarter
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$189.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$1.56M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-6.16M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-944.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-818.00K	USD	1 Quarter
Refundable taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$1.37M	USD	1 Quarter
Refundable taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$197.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-149.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-303.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-302.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.56M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.41M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$360.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$555.00K	USD	1 Quarter
Accrued income and other taxes	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$92.00K	USD	1 Quarter
Accrued income and other taxes	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-151.00K	USD	1 Quarter
Net cash provided by (used for) operating activities of operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$8.28M	USD	1 Quarter
Net cash provided by (used for) operating activities of operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-788.00K	USD	1 Quarter
Proceeds from disposal of operating assets	`ProceedsFromSaleOfProductiveAssets`	$48.00K	USD	1 Quarter
Proceeds from disposal of operating assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$694.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$457.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	-	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$44.00K	USD	1 Quarter
Net cash used for investing activities of operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-738.00K	USD	1 Quarter
Net cash used for investing activities of operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-409.00K	USD	1 Quarter
Payments on long term debt	`RepaymentsOfLongTermDebt`	$12.22M	USD	1 Quarter
Payments on long term debt	`RepaymentsOfLongTermDebt`	$1.28M	USD	1 Quarter
Proceeds from revolving credit agreement	`ProceedsFromLinesOfCredit`	$3.70M	USD	1 Quarter
Proceeds from revolving credit agreement	`ProceedsFromLinesOfCredit`	$29.62M	USD	1 Quarter
Repayments of revolving credit agreement	`RepaymentsOfLinesOfCredit`	$17.04M	USD	1 Quarter
Repayments of revolving credit agreement	`RepaymentsOfLinesOfCredit`	$9.83M	USD	1 Quarter
Payment of debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Payment of debt issue costs	`PaymentsOfDebtIssuanceCosts`	$498.00K	USD	1 Quarter
Short-term debt borrowings	`ProceedsFromShortTermDebt`	$757.00K	USD	1 Quarter
Short-term debt borrowings	`ProceedsFromShortTermDebt`	$2.33M	USD	1 Quarter
Short-term debt repayments	`RepaymentsOfShortTermDebt`	$454.00K	USD	1 Quarter
Short-term debt repayments	`RepaymentsOfShortTermDebt`	$226.00K	USD	1 Quarter
Net cash provided by (used for) financing activities of operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.74M	USD	1 Quarter
Net cash provided by (used for) financing activities of operations	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-6.88M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$544.00K	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$662.00K	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.34M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$667.00K	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$471.00K	USD	Point-in-time
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$8.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$4.00K	USD	1 Quarter
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.34M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$667.00K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$471.00K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$369.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$409.00K	USD	1 Quarter
Cash paid for income taxes, net	`IncomeTaxesPaidNet`	$-25.00K	USD	1 Quarter
Cash paid for income taxes, net	`IncomeTaxesPaidNet`	$-162.00K	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.60M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-447.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.05M	USD	1 Quarter
Retirement plan liability adjustment, net of tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-234.00K	USD	1 Quarter
Retirement plan liability adjustment, net of tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-193.00K	USD	1 Quarter
Interest rate swap agreement adjustment, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	-	USD	1 Quarter
Interest rate swap agreement adjustment, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$16.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.41M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.85M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.