10-K Filing

TAYLOR DEVICES, INC. CIK: 96536 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0000096536-12-000032`
Period End Date	20120531
Filing Date	20120829
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	tayd-20120531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 24 Cash Flow Statement 56 Stockholders Equity 6

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.95K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$197.59K	USD	Point-in-time
Accounts receivable, net (Note 2)	`AccountsReceivableNetCurrent`	$5.61M	USD	Point-in-time
Accounts receivable, net (Note 2)	`AccountsReceivableNetCurrent`	$2.14M	USD	Point-in-time
Inventory (Note 3)	`InventoryPartsAndComponentsNetOfReserves`	$8.37M	USD	Point-in-time
Inventory (Note 3)	`InventoryPartsAndComponentsNetOfReserves`	$5.35M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$482.32K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$539.90K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$239.03K	USD	Point-in-time
Costs and estimated earnings in excess of billings (Note 4)	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$5.49M	USD	Point-in-time
Costs and estimated earnings in excess of billings (Note 4)	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$4.19M	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxAssetsDeferredIncome`	$950.40K	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxAssetsDeferredIncome`	$818.90K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.98M	USD	Point-in-time
Maintenance and other inventory, net (Note 5)	`OtherInventoryNoncurrent`	$846.18K	USD	Point-in-time
Maintenance and other inventory, net (Note 5)	`OtherInventoryNoncurrent`	$844.83K	USD	Point-in-time
Property and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$4.48M	USD	Point-in-time
Property and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$3.41M	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$147.97K	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$153.55K	USD	Point-in-time
Total assets	`Assets`	$26.46M	USD	Point-in-time
Total assets	`Assets`	$19.88M	USD	Point-in-time
Short-term borrowings (Note 7)	`LinesOfCreditCurrent`	$258.00K	USD	Point-in-time
Short-term borrowings (Note 7)	`LinesOfCreditCurrent`	-	USD	Point-in-time
Current portion of long-term debt (Note 8)	`LongTermDebtCurrent`	$5.49K	USD	Point-in-time
Current portion of long-term debt (Note 8)	`LongTermDebtCurrent`	$3.66K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.29M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.36M	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$433.36K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$631.22K	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$1.33M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$2.12M	USD	Point-in-time
Billings in excess of costs and estimated earnings (Note 4)	`BillingsInExcessOfCostCurrent`	$152.50K	USD	Point-in-time
Billings in excess of costs and estimated earnings (Note 4)	`BillingsInExcessOfCostCurrent`	$668.90K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$140.98K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.18M	USD	Point-in-time
Long-term debt (Note 8)	`LongTermDebtNoncurrent`	$3.66K	USD	Point-in-time
Long-term debt (Note 8)	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent`	$283.99K	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredIncomeTaxesAndOtherTaxLiabilitiesNoncurrent`	$278.49K	USD	Point-in-time
Common stock, $.025 par value, authorized 8,000,000 shares, issued 3,839,819 and 3,732,842 shares	`CommonStockValue`	$93.32K	USD	Point-in-time
Common stock, $.025 par value, authorized 8,000,000 shares, issued 3,839,819 and 3,732,842 shares	`CommonStockValue`	$96.00K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.63M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.28M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.12M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.92M	USD	Point-in-time
Treasury stock - 530,143 and 501,643 shares at cost	`TreasuryStockValue`	$2.50M	USD	Point-in-time
Treasury stock - 530,143 and 501,643 shares at cost	`TreasuryStockValue`	$2.26M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$19.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$16.38M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$26.46M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$19.88M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Sales, net (Note 9)	`SalesRevenueGoodsNet`	$29.01M	USD	Annual
Sales, net (Note 9)	`SalesRevenueGoodsNet`	$20.91M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$15.35M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$20.94M	USD	Annual
Gross profit	`GrossProfit`	$8.06M	USD	Annual
Gross profit	`GrossProfit`	$5.56M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.18M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.08M	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.89M	USD	Annual
Operating income	`OperatingIncomeLoss`	$1.48M	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$9.78K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$28.43K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$33.41K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$217.43K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$227.22K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$61.85K	USD	Annual
Income before provision for income taxes (Note 10)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.71M	USD	Annual
Income before provision for income taxes (Note 10)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.95M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefitContinuingOperations`	$293.20K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefitContinuingOperations`	$750.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.20M	USD	Annual
Net income	`NetIncomeLoss`	$1.42M	USD	Annual
Basic and diluted earnings per common share (Note 11)	`EarningsPerShareBasicAndDiluted`	$0.67	USD	Annual
Basic and diluted earnings per common share (Note 11)	`EarningsPerShareBasicAndDiluted`	$0.44	USD	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.20M	USD	Annual
Net income	`NetIncomeLoss`	$1.42M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$470.75K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$482.15K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$116.76K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$80.42K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$144.64K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$108.17K	USD	Annual
Deferred income taxes	`DeferredFederalIncomeTaxExpenseBenefit`	$-10.50K	USD	Annual
Deferred income taxes	`DeferredFederalIncomeTaxExpenseBenefit`	$-126.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.90M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.47M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-3.16M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$886.13K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$57.58K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-255.77K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$239.03K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$127.46K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$-3.14M	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$-1.30M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$2.07M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$195.81K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$197.87K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$52.91K	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-219.31K	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$787.41K	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$516.39K	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-215.26K	USD	Annual
Accrued income taxes	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	Annual
Accrued income taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$140.98K	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.40M	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.11M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.55M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$386.40K	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$5.62K	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$5.58K	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-392.02K	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.56M	USD	Annual
Net short-term borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	Annual
Net short-term borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$258.00K	USD	Annual
Payments on long-term debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-5.48K	USD	Annual
Payments on long-term debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-5.49K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$347.63K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$28.45K	USD	Annual
Acquisition of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$30.42K	USD	Annual
Acquisition of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$49.77K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$550.38K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.45K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.00M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.12M	USD	Annual
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.19M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$73.95K	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$197.59K	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$2.19M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$73.95K	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$197.59K	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$19.00M	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$16.38M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.20M	USD	Annual
Net income	`NetIncomeLoss`	$1.42M	USD	Annual
Balance, ending	`StockholdersEquity`	$19.00M	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$16.38M	USD	Point-in-time

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