10-Q Filing

ACME UNITED CORP CIK: 2098 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001026608-19-000026`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	acu-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 38 Cash Flow Statement 53 Stockholders Equity 21 Comprehensive Income 6

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$2.50	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$2.50	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.34M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Accounts receivable, less allowance	`AccountsReceivableNetCurrent`	$25.23M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Accounts receivable, less allowance	`AccountsReceivableNetCurrent`	$25.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Inventories, net	`InventoryNet`	$40.57M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Inventories, net	`InventoryNet`	$41.33M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.28M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.49M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.15M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.49M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$71.88M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$72.99M	USD	Point-in-time
Land	`Land`	$1.42M	USD	Point-in-time
Land	`Land`	$1.42M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$10.27M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$10.14M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$18.24M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$18.55M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$30.24M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$29.81M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$15.27M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$15.81M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$14.42M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$14.54M	USD	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$2.67M	USD	Point-in-time
Goodwill	`Goodwill`	$4.70M	USD	Point-in-time
Goodwill	`Goodwill`	$4.70M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$16.74M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$17.04M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$209.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$203.00K	USD	Point-in-time
Total assets	`Assets`	$109.48M	USD	Point-in-time
Total assets	`Assets`	$110.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.98M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.67M	USD	Point-in-time
Lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$1.03M	USD	Point-in-time
Current portion of mortgage payable	`SecuredDebtCurrent`	$267.00K	USD	Point-in-time
Current portion of mortgage payable	`SecuredDebtCurrent`	$267.00K	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$4.37M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$5.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.34M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$40.28M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$41.34M	USD	Point-in-time
Mortgage payable, net of current portion	`SecuredLongTermDebt`	$3.38M	USD	Point-in-time
Mortgage payable, net of current portion	`SecuredLongTermDebt`	$3.44M	USD	Point-in-time
Lease liability - non current portion	`OperatingLeaseLiabilityNoncurrent`	$1.65M	USD	Point-in-time
Other accrued liabilities - non current	`OtherLiabilitiesNoncurrent`	$53.00K	USD	Point-in-time
Other accrued liabilities - non current	`OtherLiabilitiesNoncurrent`	$36.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$57.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$57.75M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $2.50: authorized 8,000,000 shares; issued and outstanding - 4,838,071 shares in 2019 and 2018, including treasury stock	`CommonStockValue`	$12.09M	USD	Point-in-time
Common stock, par value $2.50: authorized 8,000,000 shares; issued and outstanding - 4,838,071 shares in 2019 and 2018, including treasury stock	`CommonStockValue`	$12.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$9.11M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$48.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$47.55M	USD	Point-in-time
Treasury stock, at cost - 1,487,238 shares in 2019 and 2018	`TreasuryStockValue`	$14.23M	USD	Point-in-time
Treasury stock, at cost - 1,487,238 shares in 2019 and 2018	`TreasuryStockValue`	$14.23M	USD	Point-in-time
Minimum pension liability	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$661.00K	USD	Point-in-time
Minimum pension liability	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$539.00K	USD	Point-in-time
Translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-1.52M	USD	Point-in-time
Translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-1.52M	USD	Point-in-time
Total accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.06M	USD	Point-in-time
Total accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.18M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$52.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$50.49M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$49.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$52.33M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$110.61M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$109.48M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$31.71M	USD	1 Quarter
Net sales	`Revenues`	$31.37M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$19.57M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$19.59M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.80M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.27M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.76M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.36M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.53M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$510.00K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$412.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-501.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-405.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$13.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-499.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-392.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$973.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.03M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$209.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$228.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$764.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$807.00K	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Weighted average number of common shares outstanding - denominator used for basic per share computations	`WeightedAverageNumberOfSharesOutstandingBasic`	3.37M	shares	1 Quarter
Weighted average number of common shares outstanding - denominator used for basic per share computations	`WeightedAverageNumberOfSharesOutstandingBasic`	3.35M	shares	1 Quarter
Weighted average number of dilutive stock options outstanding	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	41,000.00	shares	1 Quarter
Weighted average number of dilutive stock options outstanding	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	288,000.00	shares	1 Quarter
Denominator used for diluted per share computations	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.66M	shares	1 Quarter
Denominator used for diluted per share computations	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.39M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.11	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.12	USD	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$764.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$807.00K	USD	1 Quarter
Depreciation	`Depreciation`	$551.00K	USD	1 Quarter
Depreciation	`Depreciation`	$475.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$308.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$306.00K	USD	1 Quarter
Amortization of right of use assets	`FinanceLeaseRightOfUseAssetAmortization`	$248.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$212.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$168.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$132.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-1.50M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.77M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-770.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$70.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$623.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.65M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.54M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.75M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-833.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-5.34M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.49M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.58M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-683.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$438.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$897.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-897.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-438.00K	USD	1 Quarter
Net borrowings (repayments) of long-term debt	`ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities`	$1.06M	USD	1 Quarter
Net borrowings (repayments) of long-term debt	`ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities`	$-2.35M	USD	1 Quarter
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$45.00K	USD	1 Quarter
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$80.00K	USD	1 Quarter
Repayments on mortgage	`RepaymentsOfFirstMortgageBond`	$67.00K	USD	1 Quarter
Repayments on mortgage	`RepaymentsOfFirstMortgageBond`	$67.00K	USD	1 Quarter
Distributions to shareholders	`PaymentsOfDividends`	$405.00K	USD	1 Quarter
Distributions to shareholders	`PaymentsOfDividends`	$371.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$505.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.83M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$32.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-611.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-8.27M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.34M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$9.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$170.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$297.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$404.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$487.00K	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balances	`StockholdersEquity`	$52.87M	USD	Point-in-time
Balances	`StockholdersEquity`	$50.49M	USD	Point-in-time
Balances	`StockholdersEquity`	$49.94M	USD	Point-in-time
Balances	`StockholdersEquity`	$52.33M	USD	Point-in-time
Balances (shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Balances (shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Net income	`NetIncomeLoss`	$764.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$807.00K	USD	1 Quarter
Other comprehensive gain	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$212.00K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$168.00K	USD	1 Quarter
Distributions to shareholders	`DividendsCommonStockCash`	$405.00K	USD	1 Quarter
Distributions to shareholders	`DividendsCommonStockCash`	$371.00K	USD	1 Quarter
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$45.00K	USD	1 Quarter
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$80.00K	USD	1 Quarter
Balances	`StockholdersEquity`	$52.87M	USD	Point-in-time
Balances	`StockholdersEquity`	$50.49M	USD	Point-in-time
Balances	`StockholdersEquity`	$49.94M	USD	Point-in-time
Balances	`StockholdersEquity`	$52.33M	USD	Point-in-time
Balances (shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time
Balances (shares)	`CommonStockSharesOutstanding`	4.84M	shares	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$764.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$807.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$18.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$1.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$782.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$808.00K	USD	1 Quarter

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