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10-Q Filing

SIFCO INDUSTRIES INC CIK: 90168 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000090168-20-000009
Period End Date 20191231
Filing Date 20200218
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance sif-20191231.xml
Balance Sheet 76 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $521.00K USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $350.00K 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 $341.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $429.00K 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
Receivables, net of allowance for doubtful accounts of $350 and $521, respectively AccountsNotesAndLoansReceivableNetCurrent $23.16M USD Point-in-time
Receivables, net of allowance for doubtful accounts of $350 and $521, respectively AccountsNotesAndLoansReceivableNetCurrent $20.61M USD Point-in-time
Common shares, shares authorized (in shares) CommonStockSharesAuthorized 10.00M shares Point-in-time
Common shares, shares issued (in shares) CommonStockSharesIssued 5.86M shares Point-in-time
Other receivables OtherReceivablesNetCurrent $3.50M USD Point-in-time
Common shares, shares issued (in shares) CommonStockSharesIssued 5.78M shares Point-in-time
Other receivables OtherReceivablesNetCurrent $170.00K USD Point-in-time
Common shares, shares outstanding (in shares) CommonStockSharesOutstanding 5.86M shares Point-in-time
Contract asset ContractWithCustomerAssetNetCurrent $10.50M USD Point-in-time
Common shares, shares outstanding (in shares) CommonStockSharesOutstanding 5.78M shares Point-in-time
Contract asset ContractWithCustomerAssetNetCurrent $10.35M USD Point-in-time
Inventories, net InventoryNet $10.51M USD Point-in-time
Inventories, net InventoryNet $12.25M USD Point-in-time
Refundable income taxes IncomeTaxesReceivable $131.00K USD Point-in-time
Refundable income taxes IncomeTaxesReceivable $141.00K USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $1.46M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $1.56M USD Point-in-time
Total current assets AssetsCurrent $49.46M USD Point-in-time
Total current assets AssetsCurrent $45.64M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $39.61M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $41.45M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $18.06M USD Point-in-time
Operating lease right-of-use assets, net OperatingLeaseRightOfUseAsset $17.75M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $2.95M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $3.32M USD Point-in-time
Goodwill Goodwill $3.49M USD Point-in-time
Goodwill Goodwill $3.49M USD Point-in-time
Other assets OtherAssetsNoncurrent $218.00K USD Point-in-time
Other assets OtherAssetsNoncurrent $205.00K USD Point-in-time
Total assets Assets $96.10M USD Point-in-time
Total assets Assets $111.48M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $5.79M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $4.79M USD Point-in-time
Revolver ShortTermBorrowings $16.63M USD Point-in-time
Revolver ShortTermBorrowings $15.54M USD Point-in-time
Short-term operating lease liabilities OperatingLeaseLiabilityCurrent $1.15M USD Point-in-time
Accounts payable AccountsPayableCurrent $19.80M USD Point-in-time
Accounts payable AccountsPayableCurrent $17.28M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $5.56M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $6.09M USD Point-in-time
Total current liabilities LiabilitiesCurrent $46.68M USD Point-in-time
Total current liabilities LiabilitiesCurrent $45.94M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $2.05M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $1.98M USD Point-in-time
Long-term operating lease liabilities, net of short-term OperatingLeaseLiabilityNoncurrent $16.63M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $1.72M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $1.67M USD Point-in-time
Pension liability DefinedBenefitPensionPlanLiabilitiesNoncurrent $9.53M USD Point-in-time
Pension liability DefinedBenefitPensionPlanLiabilitiesNoncurrent $9.24M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $782.00K USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $63.00K 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 5,863 at December 31, 2019 and 5,777 at September 30, 2019 CommonStockValue $5.78M USD Point-in-time
Common shares, par value $1 per share, authorized 10,000 shares; issued and outstanding shares 5,863 at December 31, 2019 and 5,777 at September 30, 2019 CommonStockValue $5.86M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $10.50M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $10.44M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $31.81M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $33.15M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-12.93M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-13.31M USD Point-in-time
Total shareholders equity StockholdersEquity $44.19M USD Point-in-time
Total shareholders equity StockholdersEquity $46.42M USD Point-in-time
Total shareholders equity StockholdersEquity $36.05M USD Point-in-time
Total shareholders equity StockholdersEquity $35.24M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $96.10M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $111.48M USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $29.07M USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $26.21M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $26.33M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $22.88M USD 1 Quarter
Gross profit GrossProfit $2.74M USD 1 Quarter
Gross profit GrossProfit $3.32M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $4.21M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $4.11M USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $414.00K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $409.00K USD 1 Quarter
Gain on disposal or impairment of operating assets GainLossOnDispositionOfAssetsOrImpairmentOfAssets $282.00K USD 1 Quarter
Gain on disposal or impairment of operating assets GainLossOnDispositionOfAssetsOrImpairmentOfAssets - USD 1 Quarter
Operating loss OperatingIncomeLoss $-1.29M USD 1 Quarter
Operating loss OperatingIncomeLoss $-1.51M USD 1 Quarter
Interest income InvestmentIncomeInterest $1.00K USD 1 Quarter
Interest income InvestmentIncomeInterest - USD 1 Quarter
Interest expense InterestExpense $292.00K USD 1 Quarter
Interest expense InterestExpense $251.00K USD 1 Quarter
Foreign currency exchange loss (gain), net ForeignCurrencyTransactionGainLossBeforeTax $-1.00K USD 1 Quarter
Foreign currency exchange loss (gain), net ForeignCurrencyTransactionGainLossBeforeTax $1.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense $108.00K USD 1 Quarter
Other income, net OtherNonoperatingIncomeExpense - USD 1 Quarter
Loss before income tax benefit IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-1.80M USD 1 Quarter
Loss before income tax benefit IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-1.44M USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-95.00K USD 1 Quarter
Income tax benefit IncomeTaxExpenseBenefit $-514.00K USD 1 Quarter
Net loss NetIncomeLoss $-1.34M USD 1 Quarter
Net loss NetIncomeLoss $-1.28M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.24 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.23 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.23 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.24 USD 1 Quarter
Weighted-average number of common shares (basic) (in shares) WeightedAverageNumberOfSharesOutstandingBasic 5.54M shares 1 Quarter
Weighted-average number of common shares (basic) (in shares) WeightedAverageNumberOfSharesOutstandingBasic 5.61M shares 1 Quarter
Weighted-average number of common shares (diluted) (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 5.61M shares 1 Quarter
Weighted-average number of common shares (diluted) (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 5.54M shares 1 Quarter
Cash Flow Statement 78 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-1.34M USD 1 Quarter
Net loss NetIncomeLoss $-1.28M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.86M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.93M USD 1 Quarter
Amortization and write-off of debt issuance cost AmortizationAndWriteOffOfDebtIssuanceCost $26.00K USD 1 Quarter
Amortization and write-off of debt issuance cost AmortizationAndWriteOffOfDebtIssuanceCost $11.00K USD 1 Quarter
Gain on disposal of operating assets or impairment of operating assets GainLossOnDispositionOfAssetsOrImpairmentOfAssets $282.00K USD 1 Quarter
Gain on disposal of operating assets or impairment of operating assets GainLossOnDispositionOfAssetsOrImpairmentOfAssets - USD 1 Quarter
LIFO effect InventoryLIFOReservePeriodCharge $-36.00K USD 1 Quarter
LIFO effect InventoryLIFOReservePeriodCharge $22.00K USD 1 Quarter
Share transactions under company stock plan ShareTransactionsUnderCompanyStockPlan $236.00K USD 1 Quarter
Share transactions under company stock plan ShareTransactionsUnderCompanyStockPlan $150.00K USD 1 Quarter
Other long-term liabilities OtherNoncashLongTermLiabilities $-76.00K USD 1 Quarter
Other long-term liabilities OtherNoncashLongTermLiabilities $-114.00K USD 1 Quarter
Deferred income taxes DeferredOtherTaxExpenseBenefit $-25.00K USD 1 Quarter
Deferred income taxes DeferredOtherTaxExpenseBenefit $-95.00K USD 1 Quarter
Receivables IncreaseDecreaseInAccountsAndNotesReceivable $-2.66M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsAndNotesReceivable $-2.02M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $122.00K USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $152.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.62M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $150.00K USD 1 Quarter
Refundable taxes IncreaseDecreaseInIncomeTaxesReceivable $-10.00K USD 1 Quarter
Refundable taxes IncreaseDecreaseInIncomeTaxesReceivable $438.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidExpense $284.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidExpense $-249.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $7.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $351.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-1.73M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-3.31M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $76.00K USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInOtherAccruedLiabilities $1.59M USD 1 Quarter
Accrued income and other taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $36.00K USD 1 Quarter
Accrued income and other taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $-9.00K USD 1 Quarter
Net cash (used for) provided by operating activities NetCashProvidedByUsedInOperatingActivities $406.00K USD 1 Quarter
Net cash (used for) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-965.00K USD 1 Quarter
Insurance proceeds received ProceedsFromInsuranceSettlementInvestingActivities $3.50M USD 1 Quarter
Insurance proceeds received ProceedsFromInsuranceSettlementInvestingActivities - USD 1 Quarter
Proceeds from disposal of operating assets ProceedsFromSaleOfOtherPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from disposal of operating assets ProceedsFromSaleOfOtherPropertyPlantAndEquipment $317.00K USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $2.30M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $797.00K USD 1 Quarter
Net cash (used for) provided by investing activities NetCashProvidedByUsedInInvestingActivities $-480.00K USD 1 Quarter
Net cash (used for) provided by investing activities NetCashProvidedByUsedInInvestingActivities $1.20M USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt $133.00K USD 1 Quarter
Proceeds from long-term debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $409.00K USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $336.00K USD 1 Quarter
Proceeds from revolving credit agreement ProceedsFromLinesOfCredit $9.96M USD 1 Quarter
Proceeds from revolving credit agreement ProceedsFromLinesOfCredit $31.81M USD 1 Quarter
Repayments of revolving credit agreement RepaymentsOfLinesOfCredit $10.23M USD 1 Quarter
Repayments of revolving credit agreement RepaymentsOfLinesOfCredit $30.71M USD 1 Quarter
Payment of debt issue costs PaymentsOfDebtIssuanceCosts $105.00K USD 1 Quarter
Payment of debt issue costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Short-term debt borrowings BorrowingsOfShortTermDebtAndLeaseObligation $-981.00K USD 1 Quarter
Short-term debt borrowings BorrowingsOfShortTermDebtAndLeaseObligation $-1.79M USD 1 Quarter
Short-term debt repayments RepaymentsOfShortTermDebtAndLeaseObligation $1.39M USD 1 Quarter
Short-term debt repayments RepaymentsOfShortTermDebtAndLeaseObligation $1.89M USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-151.00K USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivities $-253.00K USD 1 Quarter
Increase (Decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $81.00K USD 1 Quarter
Increase (Decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-327.00K USD 1 Quarter
Cash and cash equivalents at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.25M USD Point-in-time
Cash and cash equivalents at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $921.00K USD Point-in-time
Cash and cash equivalents at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $429.00K USD Point-in-time
Cash and cash equivalents at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $341.00K USD Point-in-time
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-4.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.00K USD 1 Quarter
Cash and cash equivalents at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.25M USD Point-in-time
Cash and cash equivalents at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $921.00K USD Point-in-time
Cash and cash equivalents at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $429.00K USD Point-in-time
Cash and cash equivalents at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $341.00K USD Point-in-time
Cash paid for interest InterestPaidNet $287.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $181.00K USD 1 Quarter
Cash paid for income taxes, net IncomeTaxesPaidNet $10.00K USD 1 Quarter
Cash paid for income taxes, net IncomeTaxesPaidNet $21.00K USD 1 Quarter
Additions to property, plant & equipment - incurred but not yet paid CapitalExpendituresIncurredButNotYetPaid $498.00K USD 1 Quarter
Additions to property, plant & equipment - incurred but not yet paid CapitalExpendituresIncurredButNotYetPaid $689.00K USD 1 Quarter
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $44.19M USD Point-in-time
Beginning balance StockholdersEquity $46.42M USD Point-in-time
Beginning balance StockholdersEquity $36.05M USD Point-in-time
Beginning balance StockholdersEquity $35.24M USD Point-in-time
Comprehensive loss ComprehensiveIncomeNetOfTax $-961.00K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-1.60M USD 1 Quarter
Performance and restricted share expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions $236.00K USD 1 Quarter
Performance and restricted share expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions $155.00K USD 1 Quarter
Share transactions under equity based plans StockIssuedDuringPeriodValueShareBasedCompensation $-4.00K USD 1 Quarter
Share transactions under equity based plans StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Ending balance StockholdersEquity $44.19M USD Point-in-time
Ending balance StockholdersEquity $46.42M USD Point-in-time
Ending balance StockholdersEquity $36.05M USD Point-in-time
Ending balance StockholdersEquity $35.24M USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-1.34M USD 1 Quarter
Net loss NetIncomeLoss $-1.28M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-428.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $192.00K USD 1 Quarter
Retirement plan liability adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-107.00K USD 1 Quarter
Retirement plan liability adjustment OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-189.00K USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTax $-961.00K 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.

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