10-Q Filing

R F INDUSTRIES LTD CIK: 740664 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001144204-16-089213`
Period End Date	20160131
Filing Date	20160321
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	rfil-20160131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 42 Cash Flow Statement 64

Balance Sheet 70 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`	$79.00K	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`	$7.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.92M	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
Trade accounts receivable, net of allowance for doubtful accounts of $79 and $30	`AccountsReceivableNetCurrent`	$3.87M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.72M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $79 and $30	`AccountsReceivableNetCurrent`	$3.98M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.71M	shares	Point-in-time
Inventories	`InventoryNet`	$6.93M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.71M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.72M	shares	Point-in-time
Inventories	`InventoryNet`	$7.02M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.34M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$728.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$426.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$427.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$19.66M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$18.42M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.21M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.25M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$936.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$786.00K	USD	Point-in-time
Total	`PropertyPlantAndEquipmentGross`	$4.04M	USD	Point-in-time
Total	`PropertyPlantAndEquipmentGross`	$4.15M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.21M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.23M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$921.00K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$829.00K	USD	Point-in-time
Goodwill	`Goodwill`	$5.91M	USD	Point-in-time
Goodwill	`Goodwill`	$5.91M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$4.27M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$4.10M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.39M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.39M	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`	$205.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$39.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$30.92M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.27M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.87M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.36M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.92M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$377.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$377.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.44M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.88M	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; 8,718,914 and 8,713,664 shares issued and outstanding at January 31, 2016 and October 31, 2015, respectively	`CommonStockValue`	$87.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 8,718,914 and 8,713,664 shares issued and outstanding at January 31, 2016 and October 31, 2015, respectively	`CommonStockValue`	$87.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.19M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$26.37M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$25.48M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.25M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$30.92M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$6.89M	USD	1 Quarter
Net sales	`Revenues`	$6.98M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.91M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.39M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.08M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$198.00K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$217.00K	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.26M	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.49M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.69M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.47M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$26.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-611.00K	USD	1 Quarter
Other income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Other income	`InvestmentIncomeInterest`	$5.00K	USD	1 Quarter
Income (loss) from continuing operations before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-611.00K	USD	1 Quarter
Income (loss) from continuing operations before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$31.00K	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-21.00K	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-256.00K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-355.00K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$52.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$2.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$13.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-353.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$65.00K	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.01	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.04	USD	1 Quarter
Discontinued operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.01	USD	1 Quarter
Continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.04	USD	1 Quarter
Discontinued operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations (in dollars per share)	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net income (loss) per share (in dollars pe share)	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Net income (loss) per share (in dollars pe share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.29M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.72M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.67M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.72M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Cash Acquired from Acquisition	`CashAcquiredFromAcquisition`	$541.00K	USD	1 Quarter
Cash Acquired from Acquisition	`CashAcquiredFromAcquisition`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-353.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$65.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$20.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$5.00K	USD	1 Quarter
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	$4.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$272.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$190.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$50.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$52.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-40.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$151.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-94.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$349.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$234.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$613.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$288.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$167.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$156.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$23.00K	USD	1 Quarter
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	$-6.00K	USD	1 Quarter
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	-	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-65.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-77.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-600.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-218.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.51M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-637.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$300.00K	USD	1 Quarter
Acquisition of business (Comnet), net of cash acquired $541	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisition of business (Comnet), net of cash acquired $541	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$2.25M	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$22.00K	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Proceeds from sale of inventory	`ProceedsFromSaleOfInventory`	$322.00K	USD	1 Quarter
Proceeds from sale of inventory	`ProceedsFromSaleOfInventory`	-	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$70.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$274.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.58M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$20.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$578.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$610.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-590.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-576.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.80M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.83M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.59M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	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`	$14.72M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.59M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	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`	$14.72M	USD	Point-in-time
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$165.00K	USD	1 Quarter
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$104.00K	USD	1 Quarter
Stock issuance for acquisition of business (Comnet)	`StockIssuedDuringPeriodValueAcquisitions`	$1.06M	USD	1 Quarter
Stock issuance for acquisition of business (Comnet)	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	1 Quarter

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