10-Q Filing

SIFCO INDUSTRIES INC CIK: 90168 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000090168-18-000007`
Period End Date	20171231
Filing Date	20180208
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	sif-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 36 Cash Flow Statement 70 Comprehensive Income 10

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$330.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$298.00K	USD	Point-in-time
Serial preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Serial preferred shares, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	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
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Receivables, net of allowance for doubtful accounts of $298 and $330, respectively	`ReceivablesNetCurrent`	$25.89M	USD	Point-in-time
Receivables, net of allowance for doubtful accounts of $298 and $330, respectively	`ReceivablesNetCurrent`	$24.59M	USD	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	5.60M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	5.64M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$2.97M	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	5.64M	shares	Point-in-time
Inventories, net	`InventoryNet`	$20.38M	USD	Point-in-time
Inventories, net	`InventoryNet`	$19.36M	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	5.60M	shares	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$292.00K	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$100.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.82M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.64M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$1.08M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$2.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$52.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$51.05M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$39.51M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$38.85M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.43M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.81M	USD	Point-in-time
Goodwill	`Goodwill`	$12.17M	USD	Point-in-time
Goodwill	`Goodwill`	$12.30M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$225.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$261.00K	USD	Point-in-time
Total assets	`Assets`	$110.89M	USD	Point-in-time
Total assets	`Assets`	$108.87M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$7.56M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$8.08M	USD	Point-in-time
Revolving credit agreement	`ShortTermBorrowings`	$18.56M	USD	Point-in-time
Revolving credit agreement	`ShortTermBorrowings`	$18.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.82M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$7.14M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$6.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.71M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.73M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$5.15M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$4.51M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$2.55M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.27M	USD	Point-in-time
Pension liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$6.18M	USD	Point-in-time
Pension liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$6.06M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$148.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$430.00K	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 5,644 at December 31, 2017 and 5,596 at September 30, 2017	`CommonStockValue`	$5.64M	USD	Point-in-time
Common shares, par value $1 per share, authorized 10,000 shares; issued and outstanding shares 5,644 at December 31, 2017 and 5,596 at September 30, 2017	`CommonStockValue`	$5.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$44.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$43.36M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.77M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.25M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$49.89M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$50.13M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$110.89M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$108.87M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$31.47M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$24.25M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$22.22M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$27.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.17M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.07M	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`	$425.00K	USD	1 Quarter
Gain on disposal of operating assets	`GainLossOnDispositionOfAssets1`	$6.00K	USD	1 Quarter
Gain on disposal of operating assets	`GainLossOnDispositionOfAssets1`	$1.40M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.72M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.07M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$444.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$678.00K	USD	1 Quarter
Foreign currency exchange (gain) loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$36.00K	USD	1 Quarter
Foreign currency exchange (gain) loss, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-4.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$107.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$316.00K	USD	1 Quarter
Loss from operations before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.28M	USD	1 Quarter
Loss from operations before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.15M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-240.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$327.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-911.00K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.48	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.48	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Weighted-average number of common shares (basic) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.50M	shares	1 Quarter
Weighted-average number of common shares (basic) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.47M	shares	1 Quarter
Weighted-average number of common shares (diluted) (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.50M	shares	1 Quarter
Weighted-average number of common shares (diluted) (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.47M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.61M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-911.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.52M	USD	1 Quarter
Amortization and write-off of debt issuance cost	`AmortizationAndWriteOffOfDebtIssuanceCost`	$273.00K	USD	1 Quarter
Amortization and write-off of debt issuance cost	`AmortizationAndWriteOffOfDebtIssuanceCost`	$53.00K	USD	1 Quarter
Gain on disposal of operating assets	`GainLossOnDispositionOfAssets1`	$6.00K	USD	1 Quarter
Gain on disposal of operating assets	`GainLossOnDispositionOfAssets1`	$1.40M	USD	1 Quarter
LIFO expense	`InventoryLIFOReservePeriodCharge`	$52.00K	USD	1 Quarter
LIFO expense	`InventoryLIFOReservePeriodCharge`	$107.00K	USD	1 Quarter
Share transactions under company stock plan	`ShareTransactionsUnderCompanyStockPlan`	$194.00K	USD	1 Quarter
Share transactions under company stock plan	`ShareTransactionsUnderCompanyStockPlan`	$138.00K	USD	1 Quarter
Other long-term liabilities	`OtherNoncashLongtermLiabilities`	$-234.00K	USD	1 Quarter
Other long-term liabilities	`OtherNoncashLongtermLiabilities`	$2.00K	USD	1 Quarter
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$189.00K	USD	1 Quarter
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$-756.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$1.56M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-1.42M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-818.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.04M	USD	1 Quarter
Refundable taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-194.00K	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`	$228.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-35.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-302.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.41M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.47M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$555.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-222.00K	USD	1 Quarter
Accrued income and other taxes	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$508.00K	USD	1 Quarter
Accrued income and other taxes	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$92.00K	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$458.00K	USD	1 Quarter
Net cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-788.00K	USD	1 Quarter
Proceeds from disposal of operating assets	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$25.00K	USD	1 Quarter
Proceeds from disposal of operating assets	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$48.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$703.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$457.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-678.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-409.00K	USD	1 Quarter
Payments on long term debt	`RepaymentsOfLongTermDebt`	$12.22M	USD	1 Quarter
Payments on long term debt	`RepaymentsOfLongTermDebt`	$743.00K	USD	1 Quarter
Proceeds from revolving credit agreement	`ProceedsFromLinesOfCredit`	$17.90M	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`	$17.70M	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	`PaymentsForProceedsFromShortTermInvestments`	$-1.60M	USD	1 Quarter
Short-term debt borrowings	`PaymentsForProceedsFromShortTermInvestments`	$-2.33M	USD	1 Quarter
Short-term debt repayments	`RepaymentsOfShortTermDebt`	$1.10M	USD	1 Quarter
Short-term debt repayments	`RepaymentsOfShortTermDebt`	$454.00K	USD	1 Quarter
Net cash provided (used) for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.74M	USD	1 Quarter
Net cash provided (used) for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.00K	USD	1 Quarter
(Decrease) Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-270.00K	USD	1 Quarter
(Decrease) Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$544.00K	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	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`	$1.40M	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`	$4.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.00K	USD	1 Quarter
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	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`	$1.40M	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`	$366.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$369.00K	USD	1 Quarter
Cash refund (paid) for income taxes, net	`IncomeTaxesPaidNet`	$183.00K	USD	1 Quarter
Cash refund (paid) for income taxes, net	`IncomeTaxesPaidNet`	$-25.00K	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`	$-911.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$296.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.05M	USD	1 Quarter
Retirement plan liability adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-234.00K	USD	1 Quarter
Retirement plan liability adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-162.00K	USD	1 Quarter
Interest rate swap agreement adjustment	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$16.00K	USD	1 Quarter
Interest rate swap agreement adjustment	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$20.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.41M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-433.00K	USD	1 Quarter

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