10-Q Filing

R F INDUSTRIES LTD CIK: 740664 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-015329`
Period End Date	20140131
Filing Date	20140313
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	rfil-20140131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 42 Cash Flow Statement 56

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$103.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$84.00K	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`	$12.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.95M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $84 and $103	`AccountsReceivableNetCurrent`	$3.16M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $84 and $103	`AccountsReceivableNetCurrent`	$2.52M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.08M	shares	Point-in-time
Inventories	`InventoryNet`	$6.00M	USD	Point-in-time
Inventories	`InventoryNet`	$6.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.18M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.08M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$960.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.55M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$322.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$322.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$22.91M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$22.61M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.50M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.51M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$761.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$759.00K	USD	Point-in-time
Total	`PropertyPlantAndEquipmentGross`	$3.26M	USD	Point-in-time
Total	`PropertyPlantAndEquipmentGross`	$3.27M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.30M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.21M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$969.00K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$1.05M	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`	$1.35M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.41M	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`	$67.00K	USD	Point-in-time
Note receivable from stockholder	`DueFromOfficersOrStockholdersNoncurrent`	$67.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$23.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$30.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$28.95M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$28.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$589.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$792.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.74M	USD	Point-in-time
Customer deposit	`CustomerDepositsCurrent`	$51.00K	USD	Point-in-time
Customer deposit	`CustomerDepositsCurrent`	$51.00K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.58M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$1.82M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$950.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$950.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.53M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$2.77M	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; 8,184,887 and 8,075,124 shares issued and outstanding at January 31, 2014 and October 31, 2013, respectively	`CommonStockValue`	$82.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 8,184,887 and 8,075,124 shares issued and outstanding at January 31, 2014 and October 31, 2013, respectively	`CommonStockValue`	$81.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$15.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$16.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.63M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.42M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.74M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$28.95M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$28.51M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$9.90M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$5.85M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$3.27M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$5.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.58M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.57M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$256.00K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$289.00K	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.26M	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$1.99M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.55M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.24M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$339.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.02M	USD	1 Quarter
Other income - interest/dividends	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Other income - interest/dividends	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.02M	USD	1 Quarter
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$346.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$82.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$564.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$1.46M	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$264.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest`	$-1.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest`	$-25.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$265.00K	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.21	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.19	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.07M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.14M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.82M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$265.00K	USD	1 Quarter
Bad debt (recovery) expense	`ProvisionAndRecoveryForDoubtfulAccounts`	$24.00K	USD	1 Quarter
Bad debt (recovery) expense	`ProvisionAndRecoveryForDoubtfulAccounts`	$-15.00K	USD	1 Quarter
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	$4.00K	USD	1 Quarter
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$149.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$159.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$33.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$47.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$237.00K	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$236.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$636.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-650.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$35.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-247.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$310.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-592.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-7.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-203.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-373.00K	USD	1 Quarter
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	$51.00K	USD	1 Quarter
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Income taxes prepaid (payable)	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-41.00K	USD	1 Quarter
Income taxes prepaid (payable)	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$237.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-563.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$260.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-10.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$898.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$650.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$43.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$341.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.31M	USD	1 Quarter
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$237.00K	USD	1 Quarter
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$236.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$700.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$570.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$850.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.46M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$896.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.78M	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, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.78M	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
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$603.00K	USD	1 Quarter
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter

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