10-K Filing

TAYLOR DEVICES, INC. CIK: 96536 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0000096536-14-000017`
Period End Date	20140531
Filing Date	20140829
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	tayd-20140531.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 26 Cash Flow Statement 56 Stockholders Equity 6

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$73.95K	USD	Point-in-time
Accounts receivable, net (Note 2)	`AccountsReceivableNetCurrent`	$2.24M	USD	Point-in-time
Accounts receivable, net (Note 2)	`AccountsReceivableNetCurrent`	$2.89M	USD	Point-in-time
Inventory (Note 3)	`InventoryPartsAndComponentsNetOfReserves`	$9.12M	USD	Point-in-time
Inventory (Note 3)	`InventoryPartsAndComponentsNetOfReserves`	$8.98M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$423.23K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$299.78K	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	-	USD	Point-in-time
Prepaid income taxes	`PrepaidTaxes`	$157.14K	USD	Point-in-time
Costs and estimated earnings in excess of billings (Note 4)	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$2.46M	USD	Point-in-time
Costs and estimated earnings in excess of billings (Note 4)	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$2.37M	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxAssetsNetCurrent`	$1.06M	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxAssetsNetCurrent`	$1.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.34M	USD	Point-in-time
Maintenance and other inventory, net (Note 5)	`OtherInventoryNoncurrent`	$836.57K	USD	Point-in-time
Maintenance and other inventory, net (Note 5)	`OtherInventoryNoncurrent`	$904.30K	USD	Point-in-time
Property and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$7.21M	USD	Point-in-time
Property and equipment, net (Note 6)	`PropertyPlantAndEquipmentNet`	$7.87M	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$159.08K	USD	Point-in-time
Cash value of life insurance, net	`CashSurrenderValueOfLifeInsurance`	$164.57K	USD	Point-in-time
Total assets	`Assets`	$27.43M	USD	Point-in-time
Total assets	`Assets`	$25.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21M	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$429.84K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$436.73K	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$1.26M	USD	Point-in-time
Other accrued expenses	`AccruedLiabilitiesCurrent`	$1.74M	USD	Point-in-time
Billings in excess of costs and estimated earnings (Note 4)	`BillingsInExcessOfCostCurrent`	$850.53K	USD	Point-in-time
Billings in excess of costs and estimated earnings (Note 4)	`BillingsInExcessOfCostCurrent`	$171.88K	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Accrued income taxes	`AccruedIncomeTaxesCurrent`	$85.02K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.79M	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxLiabilitiesNoncurrent`	$558.49K	USD	Point-in-time
Deferred income taxes (Note 10)	`DeferredTaxLiabilitiesNoncurrent`	$398.19K	USD	Point-in-time
Common stock, $.025 par value, authorized 8,000,000 shares, issued 3,872,959 and 3,841,178 shares	`CommonStockValue`	$96.82K	USD	Point-in-time
Common stock, $.025 par value, authorized 8,000,000 shares, issued 3,872,959 and 3,841,178 shares	`CommonStockValue`	$96.03K	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.68M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$7.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$17.80M	USD	Point-in-time
Treasury stock - 530,143 shares at cost	`TreasuryStockValue`	$2.50M	USD	Point-in-time
Treasury stock - 530,143 shares at cost	`TreasuryStockValue`	$2.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$23.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$21.67M	USD	Point-in-time
Total Liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$27.43M	USD	Point-in-time
Total Liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$25.62M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Sales, net (Note 9)	`SalesRevenueGoodsNet`	$24.73M	USD	Annual
Sales, net (Note 9)	`SalesRevenueGoodsNet`	$20.01M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$15.97M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$14.55M	USD	Annual
Gross profit	`GrossProfit`	$5.47M	USD	Annual
Gross profit	`GrossProfit`	$8.76M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.30M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.92M	USD	Annual
Operating income	`OperatingIncomeLoss`	$3.47M	USD	Annual
Operating income	`OperatingIncomeLoss`	$1.55M	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$-45.46K	USD	Annual
Interest, net	`InterestIncomeExpenseNet`	$860.00	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$38.59K	USD	Annual
Miscellaneous	`OtherNonoperatingIncomeExpense`	$21.60K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$22.46K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-6.87K	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.57M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.46M	USD	Annual
Provision for income taxes (Note 10)	`IncomeTaxExpenseBenefit`	$437.00K	USD	Annual
Provision for income taxes (Note 10)	`IncomeTaxExpenseBenefit`	$912.00K	USD	Annual
Net income	`NetIncomeLoss`	$1.13M	USD	Annual
Net income	`NetIncomeLoss`	$2.55M	USD	Annual
Basic earnings per common share (Note 11)	`EarningsPerShareBasic`	$0.34	USD	Annual
Basic earnings per common share (Note 11)	`EarningsPerShareBasic`	$0.77	USD	Annual
Diluted earnings per common share (Note 11)	`EarningsPerShareDiluted`	$0.34	USD	Annual
Diluted earnings per common share (Note 11)	`EarningsPerShareDiluted`	$0.76	USD	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.13M	USD	Annual
Net income	`NetIncomeLoss`	$2.55M	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$564.26K	USD	Annual
Depreciation	`DepreciationDepletionAndAmortization`	$699.04K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$109.59K	USD	Annual
Stock options issued for services	`StockOptionPlanExpense`	$112.17K	USD	Annual
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$-32.02K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$180.00K	USD	Annual
Provision for inventory obsolescence	`InventoryWriteDown`	$180.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$124.30K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.37M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-617.75K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-991.12K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$33.61K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$182.54K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-123.46K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$-157.14K	USD	Annual
Prepaid income taxes	`IncreaseDecreaseInPrepaidTaxes`	$157.14K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$3.03M	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$84.03K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-43.44K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-2.15M	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$-6.89K	USD	Annual
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$-194.49K	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-380.40K	USD	Annual
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-477.59K	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$678.65K	USD	Annual
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-497.02K	USD	Annual
Accrued income taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$85.02K	USD	Annual
Accrued income taxes	`IncreaseDecreaseInAccruedTaxesPayable`	$-140.98K	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.47M	USD	Annual
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.98M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.36M	USD	Annual
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.29M	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$5.49K	USD	Annual
Increase in cash value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$5.53K	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.36M	USD	Annual
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.30M	USD	Annual
Net short-term borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	Annual
Net short-term borrowings	`ProceedsFromRepaymentsOfLinesOfCredit`	$-258.00K	USD	Annual
Payments on long-term debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-3.66K	USD	Annual
Payments on long-term debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	-	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$11.72K	USD	Annual
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$172.83K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$172.83K	USD	Annual
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-249.94K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.92M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$795.77K	USD	Annual
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.79M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$73.95K	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$2.79M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$2.00M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$73.95K	USD	Point-in-time

Stockholders Equity 6 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$23.08M	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$21.67M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.13M	USD	Annual
Net income	`NetIncomeLoss`	$2.55M	USD	Annual
Balance, ending	`StockholdersEquity`	$23.08M	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$21.67M	USD	Point-in-time

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