10-Q Filing

R F INDUSTRIES LTD CIK: 740664 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001144204-15-016574`
Period End Date	20150131
Filing Date	20150317
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	rfil-20150131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 42 Cash Flow Statement 59

Balance Sheet 76 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`	$30.00K	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`	$12.78M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.88M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$300.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.51M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.26M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.26M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.51M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $30 and $30	`AccountsReceivableNetCurrent`	$2.43M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $30 and $30	`AccountsReceivableNetCurrent`	$3.41M	USD	Point-in-time
Inventories	`InventoryNet`	$5.96M	USD	Point-in-time
Inventories	`InventoryNet`	$5.26M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$618.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$904.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$416.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$416.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$21.92M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$23.44M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.61M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$2.91M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$777.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$1.00M	USD	Point-in-time
Total	`PropertyPlantAndEquipmentGross`	$3.39M	USD	Point-in-time
Total	`PropertyPlantAndEquipmentGross`	$3.92M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.56M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.00M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$829.00K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$919.00K	USD	Point-in-time
Goodwill	`Goodwill`	$5.39M	USD	Point-in-time
Goodwill	`Goodwill`	$3.08M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.44M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.19M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$950.00K	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`	$21.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$21.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$31.70M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$29.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$861.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.42M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.63M	USD	Point-in-time
Customer deposit	`CustomerDepositsCurrent`	-	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`	$4.12M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$2.36M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$811.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$811.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$318.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.25M	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; 8,509,437 and 8,255,979 shares issued and outstanding at January 31, 2015 and October 31, 2014, respectively	`CommonStockValue`	$85.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 8,509,437 and 8,255,979 shares issued and outstanding at January 31, 2015 and October 31, 2014, respectively	`CommonStockValue`	$83.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$18.34M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$17.23M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.03M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.54M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.45M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.86M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$31.70M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$29.03M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$5.85M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$6.89M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$3.27M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.58M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$217.00K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$256.00K	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$1.99M	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.26M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.24M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.47M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$339.00K	USD	1 Quarter
Other income - interest	`InvestmentIncomeInterest`	$5.00K	USD	1 Quarter
Other income - interest	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$346.00K	USD	1 Quarter
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-21.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$82.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$264.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$52.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$13.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$1.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$65.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$265.00K	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.01	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.03	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.01	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.14M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.29M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.82M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.67M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$65.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$265.00K	USD	1 Quarter
Bad debt expense (recoveries)	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$-15.00K	USD	1 Quarter
Bad debt expense (recoveries)	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$5.00K	USD	1 Quarter
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	$4.00K	USD	1 Quarter
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	$4.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$190.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$149.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$50.00K	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`	-	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-650.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$151.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$35.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$234.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$288.00K	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`	$23.00K	USD	1 Quarter
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	$-6.00K	USD	1 Quarter
Income taxes prepaid (payable)	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-77.00K	USD	1 Quarter
Income taxes prepaid (payable)	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$237.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-218.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-563.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$898.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-637.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$300.00K	USD	1 Quarter
Acquisition of business (Comnet), net of cash acquired ($541)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.25M	USD	1 Quarter
Acquisition of business (Comnet), net of cash acquired ($541)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.58M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$341.00K	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`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$570.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$578.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$8.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-576.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.80M	USD	1 Quarter
Net (decrease) 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`	$14.72M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.92M	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`	$14.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.92M	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`	$104.00K	USD	1 Quarter
Stock issuance for acquisition of business (Comnet)	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	1 Quarter
Stock issuance for acquisition of business (Comnet)	`StockIssuedDuringPeriodValueAcquisitions`	$1.06M	USD	1 Quarter

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