10-Q Filing

R F INDUSTRIES LTD CIK: 740664 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001144204-13-014330`
Period End Date	20130131
Filing Date	20130312
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	rfil-20130131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 30 Cash Flow Statement 72 Stockholders Equity 10

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$95.50K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$119.61K	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`	$1.60M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	6.98M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	7.47M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $119,606 and $95,500	`AccountsReceivableNetCurrent`	$5.78M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $119,606 and $95,500	`AccountsReceivableNetCurrent`	$5.17M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	7.47M	shares	Point-in-time
Inventories	`InventoryNet`	$6.74M	USD	Point-in-time
Inventories	`InventoryNet`	$6.98M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	6.98M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$639.95K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$949.96K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$760.97K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$760.97K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$21.18M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$19.04M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.35M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.37M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$655.71K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$677.48K	USD	Point-in-time
TOTALS	`PropertyPlantAndEquipmentNet`	$3.00M	USD	Point-in-time
TOTALS	`PropertyPlantAndEquipmentNet`	$3.05M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.90M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.80M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$1.20M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentGross`	$1.14M	USD	Point-in-time
Goodwill	`Goodwill`	$3.08M	USD	Point-in-time
Goodwill	`Goodwill`	$3.08M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.57M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.63M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.63M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$410.00K	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$410.00K	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$410.00K	USD	Point-in-time
Note receivable from stockholder	`DueFromOfficersOrStockholdersNoncurrent`	$66.98K	USD	Point-in-time
Note receivable from stockholder	`DueFromOfficersOrStockholdersNoncurrent`	$66.98K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.66K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.66K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$25.46M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$27.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.06M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.36M	USD	Point-in-time
Customer deposit	`SecuredDebtCurrent`	-	USD	Point-in-time
Customer deposit	`SecuredDebtCurrent`	$50.96K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$609.71K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$332.29K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.14M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.80M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.08M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.08M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$5.10K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$15.48K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.23M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.88M	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; 7,467,809 and 6,978,374 shares issued and outstanding at January 31, 2013 and October 31, 2012, respectively	`CommonStockValue`	$74.68K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 7,467,809 and 6,978,374 shares issued and outstanding at January 31, 2013 and October 31, 2012, respectively	`CommonStockValue`	$69.78K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$12.01M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$13.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.15M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.94M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.23M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.60M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$27.48M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$25.46M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$5.56M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$10.51M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$3.06M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.94M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$288.86K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$290.00K	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.59M	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.01M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.88M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.30M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$200.75K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.06M	USD	1 Quarter
Other income - interest/dividends	`InvestmentIncomeInterest`	$18.71K	USD	1 Quarter
Other income - interest/dividends	`InvestmentIncomeInterest`	$2.88K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.06M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$219.46K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$580.92K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$104.10K	USD	1 Quarter
Net income attributable to RF Industries, Ltd. and Subsidiary	`NetIncomeLoss`	$1.48M	USD	1 Quarter
Net income attributable to RF Industries, Ltd. and Subsidiary	`NetIncomeLoss`	$115.36K	USD	1 Quarter
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net income attributable to noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-1.85K	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$1.48M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$117.21K	USD	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	7.07M	shares	1 Quarter
Basic weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	7.00M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.00M	shares	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.72M	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$1.48M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$117.21K	USD	1 Quarter
Bad debt (recovery) expense	`ProvisionAndRecoveryForDoubtfulAccounts`	$-9.14K	USD	1 Quarter
Bad debt (recovery) expense	`ProvisionAndRecoveryForDoubtfulAccounts`	$24.11K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$161.62K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$159.24K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$33.11K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$67.19K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$236.34K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$55.96K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$-4.47K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	-	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$636.07K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$273.35K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-247.17K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$92.02K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$310.01K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$262.36K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-372.95K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$752.76K	USD	1 Quarter
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	$50.96K	USD	1 Quarter
Income taxes prepaid (payable)	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-41.08K	USD	1 Quarter
Income taxes prepaid (payable)	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$79.16K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$259.53K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-387.13K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-7.86K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-10.38K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$649.77K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$94.58K	USD	1 Quarter
Maturity of certificates of deposit	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Maturity of certificates of deposit	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$1.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$42.42K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$191.82K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$808.29K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.42K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.31M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$22.74K	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$787.24K	USD	1 Quarter
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$236.34K	USD	1 Quarter
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$55.96K	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Principal payments on long-term debt	`RepaymentsOfLongTermDebt`	$5.48K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$352.69K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$700.22K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.07M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$849.84K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-163.84K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.46M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.95M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.76M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.95M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$603.00K	USD	1 Quarter
Retirement of treasury stock	`RetirementOfTreasuryStock`	-	USD	1 Quarter
Retirement of treasury stock	`RetirementOfTreasuryStock`	$787.24K	USD	1 Quarter
Other current assets	`OtherAssetsCurrent`	$639.95K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$949.96K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.05M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$34.66K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$34.66K	USD	Point-in-time
Mortgages payable	`SecuredDebtCurrent`	-	USD	Point-in-time
Mortgages payable	`SecuredDebtCurrent`	$50.96K	USD	Point-in-time
Net equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.23M	USD	Point-in-time
Net equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.60M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.23M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.60M	USD	Point-in-time
Net income for the period	`ProfitLoss`	$1.48M	USD	1 Quarter
Net income for the period	`ProfitLoss`	$117.21K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$33.11K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.31M	USD	1 Quarter
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$236.34K	USD	1 Quarter
Dividends	`DividendsCommonStockCash`	$-700.22K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.23M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.60M	USD	Point-in-time

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