10-K Filing

R F INDUSTRIES LTD CIK: 740664 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001104659-19-074978`
Period End Date	20191031
Filing Date	20191220
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	rfil-20191031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 42 Cash Flow Statement 75 Stockholders Equity 14

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$88.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$23.00K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.33M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.21M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.46M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.29M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $32 and $88, respectively	`AccountsReceivableNetCurrent`	$12.19M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $32 and $88, respectively	`AccountsReceivableNetCurrent`	$4.25M	USD	Point-in-time
Inventories	`InventoryNet`	$8.24M	USD	Point-in-time
Inventories	`InventoryNet`	$7.11M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.29M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.46M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$828.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$685.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$28.53M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$33.66M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.60M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.21M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$822.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$998.00K	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.03M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.60M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.76M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.47M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$559.00K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$839.00K	USD	Point-in-time
Goodwill	`Goodwill`	$1.34M	USD	Point-in-time
Goodwill	`Goodwill`	$1.34M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.09M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.37M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$657.00K	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$657.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$112.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.50M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$37.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.34M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.38M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$21.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.72M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$6.08M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$87.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.17M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 9,462,267 and 9,291,201 shares issued and outstanding at October 31, 2019 and October 31, 2018, respectively	`CommonStockValue`	$93.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 9,462,267 and 9,291,201 shares issued and outstanding at October 31, 2019 and October 31, 2018, respectively	`CommonStockValue`	$95.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.49M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$27.78M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$31.53M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$37.70M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.50M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$55.33M	USD	Annual
Net sales	`Revenues`	$50.20M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$33.10M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$39.69M	USD	Annual
Gross profit	`GrossProfit`	$17.10M	USD	Annual
Gross profit	`GrossProfit`	$15.64M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$1.47M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$1.48M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$9.71M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$8.17M	USD	Annual
Total operating expenses	`OperatingExpenses`	$11.18M	USD	Annual
Total operating expenses	`OperatingExpenses`	$9.65M	USD	Annual
Operating income	`OperatingIncomeLoss`	$7.45M	USD	Annual
Operating income	`OperatingIncomeLoss`	$4.46M	USD	Annual
Other income	`NonoperatingIncomeExpense`	$47.00K	USD	Annual
Other income	`NonoperatingIncomeExpense`	$98.00K	USD	Annual
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.56M	USD	Annual
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.49M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.04M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.47M	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$3.52M	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$6.03M	USD	Annual
Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	Annual
Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-180.00K	USD	Annual
Consolidated net income	`NetIncomeLoss`	$5.85M	USD	Annual
Consolidated net income	`NetIncomeLoss`	$3.52M	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.38	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.66	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$-0.02	USD	Annual
Net income per share	`EarningsPerShareBasic`	$0.38	USD	Annual
Net income per share	`EarningsPerShareBasic`	$0.64	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.36	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.63	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$-0.02	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	Annual
Net income per share	`EarningsPerShareDiluted`	$0.36	USD	Annual
Net income per share	`EarningsPerShareDiluted`	$0.61	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.36M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.11M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.59M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.85M	shares	Annual

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$5.85M	USD	Annual
Consolidated net income	`ProfitLoss`	$3.52M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-180.00K	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$3.52M	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$6.03M	USD	Annual
Bad debt expense	`AllowanceForDoubtfulAccountsReceivablesWriteOffs`	$21.00K	USD	Annual
Bad debt expense	`AllowanceForDoubtfulAccountsReceivablesWriteOffs`	$8.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$513.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$563.00K	USD	Annual
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	Annual
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$1.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$317.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$211.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-43.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-79.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.36M	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.64M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.57M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$657.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-218.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$321.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-21.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$306.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$106.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.52M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-211.00K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$21.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$75.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	Annual
Net cash provided by (used in) operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.27M	USD	Annual
Net cash provided by (used in) operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.71M	USD	Annual
Net cash provided by operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	Annual
Net cash provided by operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$945.00K	USD	Annual
Proceeds from landlord for tenant improvements	`ProceedsFromCollectionOfLeaseReceivables`	-	USD	Annual
Proceeds from landlord for tenant improvements	`ProceedsFromCollectionOfLeaseReceivables`	$34.00K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$538.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$266.00K	USD	Annual
Proceeds from sale of Comnet	`ProceedsFromSaleOfIntangibleAssets`	-	USD	Annual
Proceeds from sale of Comnet	`ProceedsFromSaleOfIntangibleAssets`	$4.20M	USD	Annual
Purchase of C Enterprises, net of cash acquired ($143)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$458.00K	USD	Annual
Purchase of C Enterprises, net of cash acquired ($143)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Net cash provided by (used in) investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-996.00K	USD	Annual
Net cash provided by (used in) investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$3.97M	USD	Annual
Net cash used in investing activities from discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-272.00K	USD	Annual
Net cash used in investing activities from discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$660.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.11M	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$730.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$748.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-88.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$383.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$10.29M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.79M	USD	Annual
Cash and cash equivalents of continuing operations, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$12.54M	USD	Point-in-time
Cash and cash equivalents of continuing operations, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$16.33M	USD	Point-in-time
Cash and cash equivalents of continuing operations, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.21M	USD	Point-in-time
Cash and cash equivalents of discontinued operations, beginning of year	`DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents`	$831.00K	USD	Point-in-time
Cash and cash equivalents of discontinued operations, beginning of year	`DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents`	-	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.54M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.33M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.04M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.54M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.33M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.04M	USD	Point-in-time
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$739.00K	USD	Annual
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$1.83M	USD	Annual
Disposal of fully depreciated property and equipment	`NonCashOrPartOfNonCashDisposalOfFullyDepreciatedPropertyAndEquipment`	$90.00K	USD	Annual
Disposal of fully depreciated property and equipment	`NonCashOrPartOfNonCashDisposalOfFullyDepreciatedPropertyAndEquipment`	-	USD	Annual
Write off of deferred rent from sale of Comnet	`WriteOffOfDeferredRentFromSaleOfComnet`	-	USD	Annual
Write off of deferred rent from sale of Comnet	`WriteOffOfDeferredRentFromSaleOfComnet`	$9.00K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.34M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.78M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.53M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.11M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$660.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$211.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$317.00K	USD	Annual
Dividends	`DividendsCommonStockCash`	$730.00K	USD	Annual
Dividends	`DividendsCommonStockCash`	$748.00K	USD	Annual
Net Income	`NetIncomeLoss`	$5.85M	USD	Annual
Net Income	`NetIncomeLoss`	$3.52M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.34M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.78M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.53M	USD	Point-in-time

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