10-Q Filing

TAYLOR DEVICES, INC. CIK: 96536 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0000096536-21-000005`
Period End Date	20210228
Filing Date	20210326
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	tdi10qfy21q3_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 40 Cash Flow Statement 46 Stockholders Equity 17

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.08M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.07M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.09M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$5.02M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$5.82M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$8.55M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$10.11M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$1.01M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$1.75M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$510.36K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$931.24K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.42M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.24M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$879.05K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.56M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$9.41M	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$199.38K	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$195.62K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$170.12K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$170.12K	USD	Point-in-time
Total assets	`Assets`	$43.86M	USD	Point-in-time
Total assets	`Assets`	$45.08M	USD	Point-in-time
Short-term borrowings	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Short-term borrowings	`ShortTermBankLoansAndNotesPayable`	$1.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.21M	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$402.12K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$305.88K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.02M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.66M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$736.87K	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$633.22K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.54M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.95M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$9.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$32.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$33.54M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$43.49M	USD	Point-in-time
Stockholders equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$42.40M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$2.89M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$2.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$40.60M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$38.44M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$39.54M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$43.86M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$45.08M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$20.65M	USD	3 Qtrs
Sales, net	`Revenues`	$4.77M	USD	1 Quarter
Sales, net	`Revenues`	$7.23M	USD	1 Quarter
Sales, net	`Revenues`	$15.25M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.37M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.86M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$13.95M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$12.71M	USD	3 Qtrs
Gross profit	`GrossProfit`	$403.59K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.53M	USD	3 Qtrs
Gross profit	`GrossProfit`	$6.70M	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.37M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.22M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.44M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$3.83M	USD	3 Qtrs
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.25M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$2.44M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-1.30M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$934.96K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-819.69K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$2.12M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$100.64K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$643.01K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$36.80K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$971.75K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$824.62K	USD	3 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-176.68K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.54M	USD	3 Qtrs
Provision for income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-179.00K	USD	3 Qtrs
Provision for income taxes (benefit)	`IncomeTaxExpenseBenefit`	$489.00K	USD	3 Qtrs
Provision for income taxes (benefit)	`IncomeTaxExpenseBenefit`	$189.00K	USD	1 Quarter
Provision for income taxes (benefit)	`IncomeTaxExpenseBenefit`	$-359.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$182.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.05M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$782.75K	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.29	USD	3 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.05	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.59	USD	3 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasicAndDiluted`	$0.22	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$182.32K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.05M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$782.75K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$938.49K	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$841.19K	USD	3 Qtrs
Stock options issued for services	`StockOptionPlanExpense`	$49.72K	USD	3 Qtrs
Stock options issued for services	`StockOptionPlanExpense`	$55.44K	USD	3 Qtrs
Paycheck Protection Program loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	3 Qtrs
Paycheck Protection Program loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$-1.46M	USD	3 Qtrs
Accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$282.11K	USD	3 Qtrs
Accounts and other receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$794.81K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$595.85K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.19M	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$5.44M	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$743.21K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-420.88K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$80.52K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-164.38K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$206.09K	USD	3 Qtrs
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$96.23K	USD	3 Qtrs
Accrued commissions	`IncreaseDecreaseInOtherOperatingLiabilities`	$-794.44K	USD	3 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-644.04K	USD	3 Qtrs
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-70.67K	USD	3 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-103.65K	USD	3 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$1.37M	USD	3 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.02M	USD	3 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.06M	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$992.27K	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.09M	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$13.92K	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$22.39K	USD	3 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.01M	USD	3 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.11M	USD	3 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$11.41K	USD	3 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$10.23K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.07M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$924.89K	USD	3 Qtrs
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashAndCashEquivalentsAtCarryingValue`	$16.08M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$14.14M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$15.16M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$5.07M	USD	Point-in-time
Cash and cash equivalents - ending	`CashAndCashEquivalentsAtCarryingValue`	$16.08M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$40.60M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$38.44M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$39.54M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$40.60M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$38.44M	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$39.54M	USD	Point-in-time
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$182.32K	USD	1 Quarter
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$1.00M	USD	3 Qtrs
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$2.05M	USD	3 Qtrs
Net Income (Loss) Attributable to Parent	`NetIncomeLoss`	$782.75K	USD	1 Quarter
Treasury Stock, Value, Beginning Balance	`TreasuryStockValue`	$2.89M	USD	Point-in-time
Treasury Stock, Value, Beginning Balance	`TreasuryStockValue`	$2.86M	USD	Point-in-time
Treasury Stock, Value, Ending Balance	`TreasuryStockValue`	$2.89M	USD	Point-in-time
Treasury Stock, Value, Ending Balance	`TreasuryStockValue`	$2.86M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$40.60M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$38.44M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$39.54M	USD	Point-in-time

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