10-Q Filing

ESPEY MFG & ELECTRONICS CORP CIK: 33533 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0000914317-12-001510`
Period End Date	20120930
Filing Date	20121113
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	esp-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 36 Cash Flow Statement 72

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Advance payments of contracts in process	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$511.50K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.98M	USD	Point-in-time
Advance payments of contracts in process	`ProgressPaymentsNettedAgainstInventoryForLongTermContractsOrPrograms`	$514.15K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.70M	USD	Point-in-time
Investment securities	`MarketableSecuritiesCurrent`	$3.18M	USD	Point-in-time
Investment securities	`MarketableSecuritiesCurrent`	$3.31M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.33	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.33	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$4.19M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$3.22M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.03M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.03M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$40.71K	USD	Point-in-time
Raw materials	`InventoryRawMaterials`	$1.45M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.32M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	2.32M	shares	Point-in-time
Raw materials	`InventoryRawMaterials`	$1.36M	USD	Point-in-time
Work-in-process	`InventoryWorkInProcess`	$847.27K	USD	Point-in-time
Work-in-process	`InventoryWorkInProcess`	$801.09K	USD	Point-in-time
Unearned ESOP, shares	`EmployeeStockOwnershipPlanESOPShareInESOP`	131,666.00	shares	Point-in-time
Unearned ESOP, shares	`EmployeeStockOwnershipPlanESOPShareInESOP`	136,666.00	shares	Point-in-time
Costs relating to contracts in process, net of advance payments of $514,151 at September 30, 2012 and $511,502 at June 30, 2012	`InventoryForLongTermContractsOrPrograms`	$9.48M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	709,052.00	shares	Point-in-time
Costs relating to contracts in process, net of advance payments of $514,151 at September 30, 2012 and $511,502 at June 30, 2012	`InventoryForLongTermContractsOrPrograms`	$9.62M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	705,131.00	shares	Point-in-time
Total inventories	`InventoryNet`	$11.65M	USD	Point-in-time
Total inventories	`InventoryNet`	$11.91M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$441.07K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$423.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$200.32K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$170.14K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$30.20M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.52M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.49M	USD	Point-in-time
Loan receivable	`NotesAndLoansReceivableGrossNoncurrent`	$67.37K	USD	Point-in-time
Loan receivable	`NotesAndLoansReceivableGrossNoncurrent`	$56.95K	USD	Point-in-time
Total assets	`Assets`	$32.79M	USD	Point-in-time
Total assets	`Assets`	$33.58M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.31M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.40M	USD	Point-in-time
Salaries, wages and commissions	`AccruedSalariesCurrent`	$482.42K	USD	Point-in-time
Salaries, wages and commissions	`AccruedSalariesCurrent`	$417.68K	USD	Point-in-time
Vacation	`AccruedVacationCurrent`	$607.31K	USD	Point-in-time
Vacation	`AccruedVacationCurrent`	$707.76K	USD	Point-in-time
ESOP payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	-	USD	Point-in-time
ESOP payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$108.95K	USD	Point-in-time
Other	`OtherEmployeeRelatedLiabilitiesCurrent`	$239.61K	USD	Point-in-time
Other	`OtherEmployeeRelatedLiabilitiesCurrent`	$442.69K	USD	Point-in-time
Payroll and other taxes withheld and accrued	`AccruedPayrollTaxesCurrent`	$44.89K	USD	Point-in-time
Payroll and other taxes withheld and accrued	`AccruedPayrollTaxesCurrent`	$50.63K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$73.60K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.89M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$222.50K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$208.51K	USD	Point-in-time
Total liabilities	`LiabilitiesNoncurrent`	$3.22M	USD	Point-in-time
Total liabilities	`LiabilitiesNoncurrent`	$3.10M	USD	Point-in-time
Common stock, par value $.33-1/3 per share. Authorized 10,000,000 shares; Issued 3,029,874 shares on September 30, 2012 and June 30, 2012. Outstanding 2,324,743 and 2,320,822 (includes 131,666 and 136,666 Unearned ESOP Shares) on September 30, 2012 and June 30, 2012, respectively	`CommonStockValue`	$1.01M	USD	Point-in-time
Common stock, par value $.33-1/3 per share. Authorized 10,000,000 shares; Issued 3,029,874 shares on September 30, 2012 and June 30, 2012. Outstanding 2,324,743 and 2,320,822 (includes 131,666 and 136,666 Unearned ESOP Shares) on September 30, 2012 and June 30, 2012, respectively	`CommonStockValue`	$1.01M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$15.09M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$15.22M	USD	Point-in-time
Accumulated other comprehensive income/loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.48K	USD	Point-in-time
Accumulated other comprehensive income/loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.76K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$23.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$23.84M	USD	Point-in-time
[TotalStockholdersEquityBeforyEsopAndTreasuryStock]	`TotalStockholdersEquityBeforyEsopAndTreasuryStock`	$40.08M	USD	Point-in-time
[TotalStockholdersEquityBeforyEsopAndTreasuryStock]	`TotalStockholdersEquityBeforyEsopAndTreasuryStock`	$39.16M	USD	Point-in-time
Less: Unearned ESOP shares; Cost of 709,052 and 708,914 shares of common stockin treasury in 2012 and 2011, respectively	`UnearnedESOPShares`	$1.97M	USD	Point-in-time
Less: Unearned ESOP shares; Cost of 709,052 and 708,914 shares of common stockin treasury in 2012 and 2011, respectively	`UnearnedESOPShares`	$1.97M	USD	Point-in-time
Treasury shares, cost of 705,131 and 709,052 shares on September 30, 2012 and June 30, 2012, respectively	`TreasuryStockValue`	$7.62M	USD	Point-in-time
Treasury shares, cost of 705,131 and 709,052 shares on September 30, 2012 and June 30, 2012, respectively	`TreasuryStockValue`	$7.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$29.57M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.48M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$33.58M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$32.79M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$7.99M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$7.89M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.99M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.48M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$742.87K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$722.59K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.76M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.26M	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$10.90K	USD	1 Quarter
Interest and dividend income	`InvestmentIncomeInterestAndDividend`	$10.17K	USD	1 Quarter
Other	`OtherNonoperatingIncome`	$26.88K	USD	1 Quarter
Other	`OtherNonoperatingIncome`	$4.85K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$15.75K	USD	1 Quarter
Total other income	`NonoperatingIncomeExpense`	$37.05K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.30M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.78M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$494.64K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$369.09K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$926.90K	USD	1 Quarter
Unrealized gain (loss) on investment securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$283.00	USD	1 Quarter
Unrealized gain (loss) on investment securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.69K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-1.69K	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$283.00	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.59	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.57	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.19M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	2.16M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.20M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	2.23M	shares	1 Quarter
Dividends per share:	`CommonStockDividendsPerShareCashPaid`	$0.23	USD	1 Quarter
Dividends per share:	`CommonStockDividendsPerShareCashPaid`	$0.23	USD	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$926.90K	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-11.16K	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$-39.03K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$16.32K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$32.97K	USD	1 Quarter
Depreciation	`Depreciation`	$108.25K	USD	1 Quarter
Depreciation	`Depreciation`	$104.54K	USD	1 Quarter
ESOP compensation expense	`EmployeeStockOwnershipPlanESOPCompensationExpense`	$127.76K	USD	1 Quarter
ESOP compensation expense	`EmployeeStockOwnershipPlanESOPCompensationExpense`	$139.70K	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$79.00	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$5.29K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-26.32K	USD	1 Quarter
Deferred income tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-32.22K	USD	1 Quarter
(Increase) decrease in trade receivable, net	`IncreaseDecreaseInAccountsReceivable`	$967.90K	USD	1 Quarter
(Increase) decrease in trade receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-971.55K	USD	1 Quarter
Increase in income taxes receivables	`IncreaseDecreaseInIncomeTaxesReceivable`	$-40.71K	USD	1 Quarter
Increase in income taxes receivables	`IncreaseDecreaseInIncomeTaxesReceivable`	$-75.88K	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$-284.14K	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$-267.44K	USD	1 Quarter
Decrease in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$60.54K	USD	1 Quarter
Decrease in prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$30.18K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$159.58K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$92.25K	USD	1 Quarter
Increase in accrued salaries, wages and commissions	`IncreaseDecreaseInAccruedSalaries`	$51.83K	USD	1 Quarter
Increase in accrued salaries, wages and commissions	`IncreaseDecreaseInAccruedSalaries`	$64.75K	USD	1 Quarter
Decrease in vacation accrual	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$-100.45K	USD	1 Quarter
Decrease in vacation accrual	`IncreaseDecreaseInOtherEmployeeRelatedLiabilities`	$-37.20K	USD	1 Quarter
Decrease in ESOP payable	`IncreaseDecreaseInDeferredCompensation`	$-30.75K	USD	1 Quarter
Decrease in ESOP payable	`IncreaseDecreaseInDeferredCompensation`	$-35.44K	USD	1 Quarter
Decrease in other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-50.30K	USD	1 Quarter
Decrease in other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$-203.09K	USD	1 Quarter
Increase in payroll and other taxes withheld and accrued	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$5.74K	USD	1 Quarter
Increase in payroll and other taxes withheld and accrued	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$2.64K	USD	1 Quarter
Decrease in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-238.72K	USD	1 Quarter
Decrease in income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-62.43K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.63M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.33K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$72.19K	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$40.37K	USD	1 Quarter
Proceeds from loan receivable	`ProceedsFromCollectionOfLoansReceivable`	$10.43K	USD	1 Quarter
Proceeds from loan receivable	`ProceedsFromCollectionOfLoansReceivable`	$10.12K	USD	1 Quarter
Purchase of investment securities	`PaymentsToAcquireShortTermInvestments`	$1.61M	USD	1 Quarter
Purchase of investment securities	`PaymentsToAcquireShortTermInvestments`	$1.62M	USD	1 Quarter
Proceeds from maturity of investment securities	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$1.50M	USD	1 Quarter
Proceeds from maturity of investment securities	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$1.01M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-183.92K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-632.23K	USD	1 Quarter
Sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$66.10K	USD	1 Quarter
Sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$58.97K	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$492.25K	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$487.30K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	-	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	$50.57K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$67.90K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$27.34K	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$11.16K	USD	1 Quarter
Excess tax benefits from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$39.03K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-397.64K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-361.96K	USD	1 Quarter
(Decrease) Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$640.58K	USD	1 Quarter
(Decrease) Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-545.23K	USD	1 Quarter
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.34M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$10.98M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.52M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$9.70M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$10.34M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$10.98M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$11.52M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$9.70M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$630.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$710.00K	USD	1 Quarter

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