10-K Filing

R F INDUSTRIES LTD CIK: 740664 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001144204-17-004183`
Period End Date	20161031
Filing Date	20170127
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	rfil-20161031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 44 Cash Flow Statement 75 Stockholders Equity 19

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$59.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$62.00K	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`	$5.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.59M	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 $62 and $59, respectively	`AccountsReceivableNetCurrent`	$4.08M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.84M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.71M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $62 and $59, respectively	`AccountsReceivableNetCurrent`	$3.98M	USD	Point-in-time
Inventories	`InventoryNet`	$6.93M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.84M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.71M	shares	Point-in-time
Inventories	`InventoryNet`	$6.02M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.44M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$728.00K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	-	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$426.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$16.79M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$19.66M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.20M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.21M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$936.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$799.00K	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.15M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.00M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.17M	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`	$828.00K	USD	Point-in-time
Goodwill	`Goodwill`	$3.22M	USD	Point-in-time
Goodwill	`Goodwill`	$5.91M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.62M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$4.27M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.39M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.24M	USD	Point-in-time
Note receivable from stockholder	`DueFromOfficersOrStockholdersNoncurrent`	-	USD	Point-in-time
Note receivable from stockholder	`DueFromOfficersOrStockholdersNoncurrent`	$67.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$39.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$141.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$25.84M	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`	$1.14M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.87M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.77M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.36M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.91M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$409.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$377.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$128.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.45M	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; 8,835,483 and 8,713,664 shares issued and outstanding at October 31, 2016 and 2015, respectively	`CommonStockValue`	$87.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 8,835,483 and 8,713,664 shares issued and outstanding at October 31, 2016 and 2015, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.13M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.38M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.93M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$26.37M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$21.39M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$25.84M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.25M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$30.91M	USD	Annual
Net sales	`Revenues`	$30.24M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$21.78M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$20.45M	USD	Annual
Gross profit	`GrossProfit`	$10.46M	USD	Annual
Gross profit	`GrossProfit`	$8.46M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$775.00K	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$747.00K	USD	Annual
Goodwill and other intangible asset impairment	`GoodwillAndIntangibleAssetImpairment`	$2.84M	USD	Annual
Goodwill and other intangible asset impairment	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$9.56M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$8.89M	USD	Annual
Totals	`OperatingExpenses`	$13.15M	USD	Annual
Totals	`OperatingExpenses`	$9.66M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$-4.69M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$799.00K	USD	Annual
Other income	`NonoperatingIncomeExpense`	$5.00K	USD	Annual
Other income	`NonoperatingIncomeExpense`	$35.00K	USD	Annual
Income (loss) from continuing operations before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$834.00K	USD	Annual
Income (loss) from continuing operations before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.68M	USD	Annual
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-652.00K	USD	Annual
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$140.00K	USD	Annual
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$694.00K	USD	Annual
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-4.03M	USD	Annual
Income (loss) from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-58.00K	USD	Annual
Income (loss) from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$300.00K	USD	Annual
Consolidated net income (loss)	`NetIncomeLoss`	$-4.09M	USD	Annual
Consolidated net income (loss)	`NetIncomeLoss`	$994.00K	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.46	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.08	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.04	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$-0.01	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$0.12	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$-0.47	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.08	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.46	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.03	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$-0.01	USD	Annual
Net income (loss) per share	`EarningsPerShareDiluted`	$0.11	USD	Annual
Net income (loss) per share	`EarningsPerShareDiluted`	$-0.47	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.79M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.49M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.79M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.86M	shares	Annual

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Cash Acquired from Acquisition	`CashAcquiredFromAcquisition`	$758.00K	USD	Annual
Consolidated net income (loss)	`NetIncomeLoss`	$-4.09M	USD	Annual
Consolidated net income (loss)	`NetIncomeLoss`	$994.00K	USD	Annual
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$9.00K	USD	Annual
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$20.00K	USD	Annual
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	-	USD	Annual
Accounts receivable write-off	`ProvisionForDoubtfulAccounts`	$11.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.04M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$996.00K	USD	Annual
Goodwill and other intangible asset impairment	`GoodwillAndIntangibleAssetImpairment`	$2.84M	USD	Annual
Goodwill and other intangible asset impairment	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Inventory write-downs	`InventoryWriteDown`	$168.00K	USD	Annual
Inventory write-downs	`InventoryWriteDown`	$170.00K	USD	Annual
Gain (loss) on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$16.00K	USD	Annual
Gain (loss) on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-68.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$206.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$232.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-307.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-164.00K	USD	Annual
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$154.00K	USD	Annual
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$83.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$107.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$400.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-417.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$205.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$554.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$5.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$102.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-355.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-354.00K	USD	Annual
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	$-6.00K	USD	Annual
Customer deposit	`IncreaseDecreaseInCustomerDeposits`	-	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-451.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-98.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-569.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-249.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.27M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$168.00K	USD	Annual
Acquisition of businesses, net of cash acquired of $758	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	Annual
Acquisition of businesses, net of cash acquired of $758	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$5.13M	USD	Annual
Proceeds from notes receivable from stockholder	`ProceedsFromSaleOfNotesReceivable`	$67.00K	USD	Annual
Proceeds from notes receivable from stockholder	`ProceedsFromSaleOfNotesReceivable`	-	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$16.00K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$22.00K	USD	Annual
Proceeds from sale of inventory	`ProceedsFromSaleOfInventory`	-	USD	Annual
Proceeds from sale of inventory	`ProceedsFromSaleOfInventory`	$321.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$204.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$384.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$26.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.32M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$328.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$49.00K	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$158.00K	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$154.00K	USD	Annual
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$83.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$2.38M	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$1.14M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.97M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.10M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.34M	USD	Annual
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.12M	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.26M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.59M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.72M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$5.26M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$7.59M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$14.72M	USD	Point-in-time
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$208.00K	USD	Annual
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$645.00K	USD	Annual
Retirement of treasury stock	`TreasuryStockRetiredParValueMethodAmount`	-	USD	Annual
Retirement of treasury stock	`TreasuryStockRetiredParValueMethodAmount`	$157.00K	USD	Annual
Stock issuance for acquisition of businesses (Comnet and Rel-Tech)	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Stock issuance for acquisition of businesses (Comnet and Rel-Tech)	`StockIssuedDuringPeriodValueAcquisitions`	$1.26M	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.37M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.39M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$25.86M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$328.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$49.00K	USD	Annual
Stock issuances for acquisition of Comnet and Rel-Tech	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Stock issuances for acquisition of Comnet and Rel-Tech	`StockIssuedDuringPeriodValueAcquisitions`	$1.26M	USD	Annual
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$154.00K	USD	Annual
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$83.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$206.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$232.00K	USD	Annual
Dividends	`DividendsCommonStockCash`	$1.14M	USD	Annual
Dividends	`DividendsCommonStockCash`	$2.38M	USD	Annual
Treasury stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$158.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-4.09M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$994.00K	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.37M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.39M	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.