10-Q Filing

EACO CORP CIK: 784539 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-003844`
Period End Date	20191130
Filing Date	20200114
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	eaco-20191130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 31 Cash Flow Statement 58 Stockholders Equity 14 Comprehensive Income 6

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.06M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.69M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$655.00K	USD	Point-in-time
Convertible preferred stock, liquidation value (in dollars)	`PreferredStockLiquidationPreferenceValue`	$900.00K	USD	Point-in-time
Convertible preferred stock, liquidation value (in dollars)	`PreferredStockLiquidationPreferenceValue`	$900.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.82M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$29.48M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$31.66M	USD	Point-in-time
Inventory, net	`InventoryNet`	$39.73M	USD	Point-in-time
Inventory, net	`InventoryNet`	$37.26M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Marketable securities, trading	`TradingSecurities`	$1.87M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Marketable securities, trading	`TradingSecurities`	$405.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.23M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$83.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$80.37M	USD	Point-in-time
Held for use, net	`PropertyPlantAndEquipmentNet`	$5.53M	USD	Point-in-time
Held for use, net	`PropertyPlantAndEquipmentNet`	$3.72M	USD	Point-in-time
Held for sale, net	`AssetsHeldForSaleNotPartOfDisposalGroup`	$6.86M	USD	Point-in-time
Total property, equipment and leasehold improvements, net	`TotalPropertyEquipmentAndLeaseholdImprovementsNet`	$5.53M	USD	Point-in-time
Total property, equipment and leasehold improvements, net	`TotalPropertyEquipmentAndLeaseholdImprovementsNet`	$10.57M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$13.53M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.94M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$2.10M	USD	Point-in-time
Total assets	`Assets`	$104.45M	USD	Point-in-time
Total assets	`Assets`	$92.88M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$21.14M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$18.85M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$8.30M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$7.56M	USD	Point-in-time
Liability for short sales of trading securities	`OtherLiabilitiesCurrent`	$2.82M	USD	Point-in-time
Liability for short sales of trading securities	`OtherLiabilitiesCurrent`	$655.00K	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.50M	USD	Point-in-time
Current portion of long-term debt	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$5.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.73M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$8.69M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$6.11M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$11.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$51.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$41.69M	USD	Point-in-time
Commitments and Contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible preferred stock, $0.01 par value per share; 10,000,000 shares authorized; 36,000 shares outstanding (liquidation value $900)	`PreferredStockValue`	$1.00K	USD	Point-in-time
Convertible preferred stock, $0.01 par value per share; 10,000,000 shares authorized; 36,000 shares outstanding (liquidation value $900)	`PreferredStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.01 par value per share; 8,000,000 shares authorized; 4,861,590 shares outstanding	`CommonStockValue`	$49.00K	USD	Point-in-time
Common stock, $0.01 par value per share; 8,000,000 shares authorized; 4,861,590 shares outstanding	`CommonStockValue`	$49.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.38M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$664.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$876.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$37.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$39.78M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$43.95M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$41.89M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$52.88M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$51.19M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$104.45M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$92.88M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$50.79M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$56.04M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$40.14M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$36.68M	USD	1 Quarter
Gross margin	`GrossProfit`	$15.90M	USD	1 Quarter
Gross margin	`GrossProfit`	$14.11M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.60M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.49M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.62M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.29M	USD	1 Quarter
Net (loss) gain on trading securities	`DebtSecuritiesTradingRealizedGainLoss`	$228.00K	USD	1 Quarter
Net (loss) gain on trading securities	`DebtSecuritiesTradingRealizedGainLoss`	$-80.00K	USD	1 Quarter
Loss on sale of real property	`GainLossOnDispositionOfAssets`	$-102.00K	USD	1 Quarter
Interest and other expense	`InterestIncomeExpenseNet`	$-119.00K	USD	1 Quarter
Interest and other expense	`InterestIncomeExpenseNet`	$-77.00K	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$-301.00K	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$151.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.77M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.99M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.08M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$845.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.92M	USD	1 Quarter
Less: accrued preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$19.00K	USD	1 Quarter
Less: accrued preferred stock dividends	`PreferredStockDividendsIncomeStatementImpact`	$19.00K	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.91M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.90M	USD	1 Quarter
Basic and diluted earnings per common share:	`EarningsPerShareBasicAndDiluted`	$0.39	USD	1 Quarter
Basic and diluted earnings per common share:	`EarningsPerShareBasicAndDiluted`	$0.39	USD	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.86M	shares	1 Quarter
Basic and diluted weighted average common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.86M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.92M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$247.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$259.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$3.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$10.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$294.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$198.00K	USD	1 Quarter
Loss on sale of real property	`GainLossOnDispositionOfAssets`	$-102.00K	USD	1 Quarter
Net loss (gain) on trading securities	`GainLossOnSaleOfInvestments`	$-80.00K	USD	1 Quarter
Net loss (gain) on trading securities	`GainLossOnSaleOfInvestments`	$228.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.17M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$144.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.73M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.77M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$729.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$911.00K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$2.74M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-2.27M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-737.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.67M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-556.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.67M	USD	1 Quarter
Purchase of property, equipment, and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$188.00K	USD	1 Quarter
Purchase of property, equipment, and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.39M	USD	1 Quarter
Proceeds from sale of real property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.08M	USD	1 Quarter
Proceeds from sale of real property	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.08M	USD	Point-in-time
Net sales of marketable securities, trading	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$550.00K	USD	1 Quarter
Net sales of marketable securities, trading	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$1.39M	USD	1 Quarter
Net change in liabilities for short sales of trading securities	`NetChangeInLiabilitiesForShortSalesOfTradingSecurities`	$-771.00K	USD	1 Quarter
Net change in liabilities for short sales of trading securities	`NetChangeInLiabilitiesForShortSalesOfTradingSecurities`	$2.17M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$8.24M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-409.00K	USD	1 Quarter
Borrowings on revolving credit facility, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.10M	USD	1 Quarter
Borrowings on revolving credit facility, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$513.00K	USD	1 Quarter
Borrowings on construction loan	`ProceedsFromConstructionLoansPayable`	$1.70M	USD	1 Quarter
Repayments on long-term debt	`RepaymentsOfLongTermDebtRealEstateHeldForSale`	$36.00K	USD	1 Quarter
Repayments on long-term debt	`RepaymentsOfLongTermDebtRealEstateHeldForSale`	$5.12M	USD	1 Quarter
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$19.00K	USD	1 Quarter
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$19.00K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$104.00K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-385.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$659.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.83M	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$158.00K	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-212.00K	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.53M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-148.00K	USD	1 Quarter
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.35M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.88M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.49M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.64M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.35M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.88M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.49M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.64M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$77.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$122.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$43.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$41.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$52.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$51.19M	USD	Point-in-time
Preferred dividends	`DividendsPreferredStock`	$19.00K	USD	1 Quarter
Preferred dividends	`DividendsPreferredStock`	$19.00K	USD	1 Quarter
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$158.00K	USD	1 Quarter
Foreign translation gain (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-212.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.92M	USD	1 Quarter
Balance	`StockholdersEquity`	$43.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$41.89M	USD	Point-in-time
Balance	`StockholdersEquity`	$52.88M	USD	Point-in-time
Balance	`StockholdersEquity`	$51.19M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.92M	USD	1 Quarter
Foreign translation (loss) gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$158.00K	USD	1 Quarter
Foreign translation (loss) gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-212.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.71M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$2.08M	USD	1 Quarter

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