10-Q Filing

SIFCO INDUSTRIES INC CIK: 90168 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000090168-19-000008`
Period End Date	20181231
Filing Date	20190219
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	sif-20181231.xml

Filing Contents

This filing contains the following financial statements:

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

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$521.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$520.00K	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`	$1.25M	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	USD	Point-in-time
Common shares, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$921.00K	USD	Point-in-time
Receivables, net of allowance for doubtful accounts of $521 and $520, respectively	`ReceivablesNetCurrent`	$25.84M	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Receivables, net of allowance for doubtful accounts of $521 and $520, respectively	`ReceivablesNetCurrent`	$28.00M	USD	Point-in-time
Common shares, shares authorized (in shares)	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	5.69M	shares	Point-in-time
Contract asset	`ContractWithCustomerAssetNetCurrent`	$10.26M	USD	Point-in-time
Contract asset	`ContractWithCustomerAssetNetCurrent`	-	USD	Point-in-time
Common shares, shares issued (in shares)	`CommonStockSharesIssued`	5.74M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$1.36M	USD	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	5.74M	shares	Point-in-time
Common shares, shares outstanding (in shares)	`CommonStockSharesOutstanding`	5.69M	shares	Point-in-time
Inventories, net	`InventoryNet`	$11.81M	USD	Point-in-time
Inventories, net	`InventoryNet`	$18.27M	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$564.00K	USD	Point-in-time
Refundable income taxes	`IncomeTaxesReceivable`	$126.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.46M	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$35.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$49.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$52.22M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$33.77M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$35.39M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.08M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.61M	USD	Point-in-time
Goodwill	`Goodwill`	$12.02M	USD	Point-in-time
Goodwill	`Goodwill`	$11.82M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$175.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$168.00K	USD	Point-in-time
Total assets	`Assets`	$102.59M	USD	Point-in-time
Total assets	`Assets`	$102.24M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$5.94M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$6.24M	USD	Point-in-time
Revolver	`ShortTermBorrowings`	$20.98M	USD	Point-in-time
Revolver	`ShortTermBorrowings`	$21.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.21M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.17M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$47.82M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$1.94M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$2.33M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$2.41M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$2.33M	USD	Point-in-time
Pension liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$5.22M	USD	Point-in-time
Pension liability	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$5.34M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$70.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$147.00K	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 5,736 at December 31, 2018 and 5,690 at September 30, 2018	`CommonStockValue`	$5.69M	USD	Point-in-time
Common shares, par value $1 per share, authorized 10,000 shares; issued and outstanding shares 5,736 at December 31, 2018 and 5,690 at September 30, 2018	`CommonStockValue`	$5.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$10.03M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$37.10M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$39.41M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.95M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-8.63M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$46.42M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$44.19M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$102.59M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$102.24M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$24.25M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$29.07M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$22.22M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$26.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.74M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.03M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.11M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.07M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$425.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$414.00K	USD	1 Quarter
Gain on disposal or impairment of operating assets	`GainLossonDispositionofAssetsOrImpairmentofAssets`	$1.40M	USD	1 Quarter
Gain on disposal or impairment of operating assets	`GainLossonDispositionofAssetsOrImpairmentofAssets`	$282.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.07M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.51M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$292.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$444.00K	USD	1 Quarter
Foreign currency exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$36.00K	USD	1 Quarter
Foreign currency exchange gain, net	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$316.00K	USD	1 Quarter
Loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.80M	USD	1 Quarter
Loss before income tax benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.15M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-514.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-240.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-911.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.28M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.23	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.23	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`	5.54M	shares	1 Quarter
Weighted-average number of common shares (diluted) (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.54M	shares	1 Quarter
Weighted-average number of common shares (diluted) (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.50M	shares	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-911.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.28M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.93M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.19M	USD	1 Quarter
Amortization and write-off of debt issuance cost	`AmortizationAndWriteOffOfDebtIssuanceCost`	$11.00K	USD	1 Quarter
Amortization and write-off of debt issuance cost	`AmortizationAndWriteOffOfDebtIssuanceCost`	$53.00K	USD	1 Quarter
Gain on disposal of operating assets or impairment of operating assets	`GainLossonDispositionofAssetsOrImpairmentofAssets`	$1.40M	USD	1 Quarter
Gain on disposal of operating assets or impairment of operating assets	`GainLossonDispositionofAssetsOrImpairmentofAssets`	$282.00K	USD	1 Quarter
LIFO expense	`InventoryLIFOReservePeriodCharge`	$52.00K	USD	1 Quarter
LIFO expense	`InventoryLIFOReservePeriodCharge`	$-36.00K	USD	1 Quarter
Share transactions under company stock plan	`ShareTransactionsUnderCompanyStockPlan`	$194.00K	USD	1 Quarter
Share transactions under company stock plan	`ShareTransactionsUnderCompanyStockPlan`	$236.00K	USD	1 Quarter
Other long-term liabilities	`OtherNoncashLongtermLiabilities`	$-76.00K	USD	1 Quarter
Other long-term liabilities	`OtherNoncashLongtermLiabilities`	$-234.00K	USD	1 Quarter
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$-25.00K	USD	1 Quarter
Deferred income taxes	`DeferredOtherTaxExpenseBenefit`	$-756.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-2.02M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-1.42M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$122.00K	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$150.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.04M	USD	1 Quarter
Refundable taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$438.00K	USD	1 Quarter
Refundable taxes	`IncreaseDecreaseInIncomeTaxesReceivable`	$-194.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$228.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-249.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-35.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$7.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.47M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.73M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-222.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$76.00K	USD	1 Quarter
Accrued income and other taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$36.00K	USD	1 Quarter
Accrued income and other taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$508.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$406.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$458.00K	USD	1 Quarter
Proceeds from disposal of operating assets	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$25.00K	USD	1 Quarter
Proceeds from disposal of operating assets	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$317.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$703.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$797.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-480.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-678.00K	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$133.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$409.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$743.00K	USD	1 Quarter
Proceeds from revolving credit agreement	`ProceedsFromLinesOfCredit`	$9.96M	USD	1 Quarter
Proceeds from revolving credit agreement	`ProceedsFromLinesOfCredit`	$17.90M	USD	1 Quarter
Repayments of revolving credit agreement	`RepaymentsOfLinesOfCredit`	$17.70M	USD	1 Quarter
Repayments of revolving credit agreement	`RepaymentsOfLinesOfCredit`	$10.23M	USD	1 Quarter
Payment of debt issue costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Payment of debt issue costs	`PaymentsOfDebtIssuanceCosts`	$105.00K	USD	1 Quarter
Short-term debt borrowings	`PaymentsForProceedsFromShortTermInvestments`	$-1.79M	USD	1 Quarter
Short-term debt borrowings	`PaymentsForProceedsFromShortTermInvestments`	$-1.60M	USD	1 Quarter
Short-term debt repayments	`RepaymentsOfShortTermDebt`	$1.10M	USD	1 Quarter
Short-term debt repayments	`RepaymentsOfShortTermDebt`	$1.39M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-253.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-327.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-270.00K	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.25M	USD	Point-in-time
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`	$1.40M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$921.00K	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`	$1.25M	USD	Point-in-time
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`	$1.40M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$921.00K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$366.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$287.00K	USD	1 Quarter
Cash (paid) refund for income taxes, net	`IncomeTaxesPaidNet`	$183.00K	USD	1 Quarter
Cash (paid) refund for income taxes, net	`IncomeTaxesPaidNet`	$-21.00K	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-911.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.28M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$296.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-428.00K	USD	1 Quarter
Retirement plan liability adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-107.00K	USD	1 Quarter
Retirement plan liability adjustment	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-162.00K	USD	1 Quarter
Interest rate swap agreement adjustment	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	-	USD	1 Quarter
Interest rate swap agreement adjustment	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$20.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-433.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.60M	USD	1 Quarter

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