10-Q Filing

R F INDUSTRIES LTD CIK: 740664 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001104659-20-032469`
Period End Date	20200131
Filing Date	20200312
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	rfil-20200131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 30 Cash Flow Statement 51 Stockholders Equity 17

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$23.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$39.00K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.54M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.75M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.46M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $39 and $23, respectively	`AccountsReceivableNetCurrent`	$5.75M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $39 and $23, respectively	`AccountsReceivableNetCurrent`	$12.19M	USD	Point-in-time
Inventories	`InventoryNet`	$8.39M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.75M	shares	Point-in-time
Inventories	`InventoryNet`	$8.24M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.46M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$721.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$685.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$29.25M	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`	$3.65M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$1.06M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$998.00K	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.71M	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`	$3.84M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$867.00K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$839.00K	USD	Point-in-time
Operating lease right of use assets, net	`OperatingLeaseRightOfUseAsset`	$2.02M	USD	Point-in-time
Operating lease right of use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Goodwill	`Goodwill`	$1.34M	USD	Point-in-time
Goodwill	`Goodwill`	$2.75M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.70M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.09M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$657.00K	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.17M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$68.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$112.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$37.70M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$39.83M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.41M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.31M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.65M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$21.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$933.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$5.46M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$6.08M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$18.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.19M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$87.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.22M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$7.89M	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; 9,745,135 and 9,462,267 shares issued and outstanding at January 31, 2020 and October 31, 2019, respectively	`CommonStockValue`	$95.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 9,745,135 and 9,462,267 shares issued and outstanding at January 31, 2020 and October 31, 2019, respectively	`CommonStockValue`	$98.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$22.52M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.32M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.49M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$31.53M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$31.94M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$39.83M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$37.70M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$12.41M	USD	1 Quarter
Net sales	`Revenues`	$10.65M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$7.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$9.16M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.15M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.25M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$596.00K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$320.00K	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.66M	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.25M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$786.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$22.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$11.00K	USD	1 Quarter
Income before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$808.00K	USD	1 Quarter
Income before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$168.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-14.00K	USD	1 Quarter
Consolidated net income	`NetIncomeLoss`	$26.00K	USD	1 Quarter
Consolidated net income	`NetIncomeLoss`	$640.00K	USD	1 Quarter
Earning per share ( Basic)	`EarningsPerShareBasic`	-	USD	1 Quarter
Earning per share ( Basic)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Earning per share (Diluted)	`EarningsPerShareDiluted`	-	USD	1 Quarter
Earning per share (Diluted)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.56M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.31M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.87M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.84M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Cash Acquired from Acquisition	`CashAcquiredFromAcquisition`	$99.00K	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$26.00K	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$640.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivablesWriteOffs`	$5.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivablesWriteOffs`	$4.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$255.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$137.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$114.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$187.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$11.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$62.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.71M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.38M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.06M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-638.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-47.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$20.00K	USD	1 Quarter
Right of use assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Right of use assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-101.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.29M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$402.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.32M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-921.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-21.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-121.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.40M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.61M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$53.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$73.00K	USD	1 Quarter
Purchase of Schrofftech, net of cash acquired ($99)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$3.90M	USD	1 Quarter
Purchase of Schrofftech, net of cash acquired ($99)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-73.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.95M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$391.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$342.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$193.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$186.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$198.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$156.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.32M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.85M	USD	1 Quarter
Cash and cash equivalents of continuing operations, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.02M	USD	Point-in-time
Cash and cash equivalents of continuing operations, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.39M	USD	Point-in-time
Cash and cash equivalents of continuing operations, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.33M	USD	Point-in-time
Cash and cash equivalents of continuing operations, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.54M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.02M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.39M	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`	$12.54M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.94M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.69M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.53M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.78M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$391.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$342.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$114.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$110.00K	USD	1 Quarter
Issuance of common shares	`StockIssuedDuringPeriodValueNewIssues`	$77.00K	USD	1 Quarter
Dividends	`DividendsCommonStockCash`	$193.00K	USD	1 Quarter
Dividends	`DividendsCommonStockCash`	$186.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$26.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$640.00K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.94M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.69M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$31.53M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.78M	USD	Point-in-time

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