10-K Filing

R F INDUSTRIES LTD CIK: 740664 FY 2014

Filing Information

Form Type	10-K
Accession Number	`0001144204-15-004460`
Period End Date	20141031
Filing Date	20150129
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	rfil-20141031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 42 Cash Flow Statement 64 Stockholders Equity 17

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$30.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$103.00K	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`	$5.49M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $30 and $103	`AccountsReceivableNetCurrent`	$2.43M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.26M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $30 and $103	`AccountsReceivableNetCurrent`	$3.16M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.08M	shares	Point-in-time
Inventories	`InventoryNet`	$5.26M	USD	Point-in-time
Inventories	`InventoryNet`	$5.92M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.26M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.08M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$618.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.59M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$495.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$416.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$23.44M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$23.05M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.50M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.61M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$759.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$777.00K	USD	Point-in-time
Total	`PropertyPlantAndEquipmentGross`	$3.39M	USD	Point-in-time
Total	`PropertyPlantAndEquipmentGross`	$3.26M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.56M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.21M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$1.05M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$829.00K	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`	$1.19M	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`	$30.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$21.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$29.09M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$29.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$792.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$861.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.76M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.42M	USD	Point-in-time
Customer deposit	`CustomerDepositsCurrent`	$51.00K	USD	Point-in-time
Customer deposit	`CustomerDepositsCurrent`	$6.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$73.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.36M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.60M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$950.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$811.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.55M	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; 8,255,979 and 8,075,124 shares issued and outstanding at October 31, 2014 and 2013, respectively	`CommonStockValue`	$83.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 8,255,979 and 8,075,124 shares issued and outstanding at October 31, 2014 and 2013, respectively	`CommonStockValue`	$81.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$17.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$16.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.54M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.23M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.86M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$29.03M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$29.09M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$23.11M	USD	Annual
Net sales	`SalesRevenueNet`	$36.62M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$20.72M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$12.66M	USD	Annual
Gross profit	`GrossProfit`	$15.91M	USD	Annual
Gross profit	`GrossProfit`	$10.45M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$948.00K	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$998.00K	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$7.24M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$8.21M	USD	Annual
Totals	`OperatingExpenses`	$8.19M	USD	Annual
Totals	`OperatingExpenses`	$9.21M	USD	Annual
Operating income	`OperatingIncomeLoss`	$6.70M	USD	Annual
Operating income	`OperatingIncomeLoss`	$2.27M	USD	Annual
Other income - interest	`InvestmentIncomeInterest`	$20.00K	USD	Annual
Other income - interest	`InvestmentIncomeInterest`	$29.00K	USD	Annual
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.72M	USD	Annual
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.29M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.98M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$959.00K	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$4.74M	USD	Annual
Income from continuing operations	`IncomeLossFromContinuingOperations`	$1.34M	USD	Annual
Income (loss) from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$103.00K	USD	Annual
Income (loss) from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.14M	USD	Annual
Consolidated net income	`NetIncomeLoss`	$1.44M	USD	Annual
Consolidated net income	`NetIncomeLoss`	$3.60M	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.17	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.62	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.01	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$-0.15	USD	Annual
Net income per share	`EarningsPerShareBasic`	$0.18	USD	Annual
Net income per share	`EarningsPerShareBasic`	$0.47	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.15	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.56	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.01	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$-0.13	USD	Annual
Net income per share	`EarningsPerShareDiluted`	$0.43	USD	Annual
Net income per share	`EarningsPerShareDiluted`	$0.16	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.60M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.22M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.74M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.46M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`NetIncomeLoss`	$1.44M	USD	Annual
Consolidated net income	`NetIncomeLoss`	$3.60M	USD	Annual
Bad debt expense (credit)	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$-34.00K	USD	Annual
Bad debt expense (credit)	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$29.00K	USD	Annual
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	$34.00K	USD	Annual
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	$44.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$592.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$652.00K	USD	Annual
Inventory write-downs	`InventoryWriteDown`	$1.17M	USD	Annual
Inventory write-downs	`InventoryWriteDown`	$148.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$390.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$232.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$139.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-60.00K	USD	Annual
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$1.06M	USD	Annual
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$327.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.93M	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-732.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$110.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-517.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-969.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$947.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-5.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-9.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-637.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$69.00K	USD	Annual
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	$51.00K	USD	Annual
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	$-45.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$400.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$450.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-341.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-339.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-15.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$5.20M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.49M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$148.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$281.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-148.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-281.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$570.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.76M	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$104.00K	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.06M	USD	Annual
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$327.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$2.30M	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$2.35M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.51M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.47M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.84M	USD	Annual
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.39M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.72M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$5.49M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$14.72M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$442.00K	USD	Annual
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$1.84M	USD	Annual
Retirement of treasury stock	`RetirementOfTreasuryStock`	$104.00K	USD	Annual
Retirement of treasury stock	`RetirementOfTreasuryStock`	-	USD	Annual
Write off of fully depreciated property and equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	$26.00K	USD	Annual
Write off of fully depreciated property and equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	$14.00K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.23M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.86M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.76M	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$570.00K	USD	Annual
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$1.06M	USD	Annual
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$327.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$390.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$232.00K	USD	Annual
Dividends	`DividendsCommonStockCash`	$2.30M	USD	Annual
Dividends	`DividendsCommonStockCash`	$2.35M	USD	Annual
Treasury stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$104.00K	USD	Annual
Net income	`NetIncomeLoss`	$1.44M	USD	Annual
Net income	`NetIncomeLoss`	$3.60M	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.54M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$20.23M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.86M	USD	Point-in-time

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