10-Q Filing

R F INDUSTRIES LTD CIK: 740664 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-014615`
Period End Date	20170131
Filing Date	20170315
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	rfil-20170131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 42 Cash Flow Statement 59

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$62.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$64.00K	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`	$5.77M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.26M	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 $64 and $62, respectively	`AccountsReceivableNetCurrent`	$4.08M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.84M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.84M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $64 and $62, respectively	`AccountsReceivableNetCurrent`	$3.69M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.84M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.84M	shares	Point-in-time
Inventories, net	`InventoryNet`	$6.55M	USD	Point-in-time
Inventories, net	`InventoryNet`	$6.02M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.44M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.54M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$16.14M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$16.79M	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`	$802.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$799.00K	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.00M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.01M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.25M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.17M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$761.00K	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`	$3.22M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.47M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.62M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.24M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.24M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$141.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$121.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$25.84M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$24.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.37M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.01M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.77M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.38M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.91M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$433.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$409.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$128.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$88.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.45M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.90M	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 shares issued and outstanding at January 31, 2017 and October 31, 2016	`CommonStockValue`	$88.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 8,835,483 shares issued and outstanding at January 31, 2017 and October 31, 2016	`CommonStockValue`	$88.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.93M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$21.05M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$21.39M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$24.95M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$25.84M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$6.62M	USD	1 Quarter
Net sales	`Revenues`	$6.78M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.76M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.02M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.86M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$161.00K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$224.00K	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$1.99M	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.43M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.22M	USD	1 Quarter
Totals	`OperatingExpenses`	$2.59M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-359.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-571.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$20.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Loss from continuing operations before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-571.00K	USD	1 Quarter
Loss from continuing operations before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-339.00K	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-256.00K	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-101.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-315.00K	USD	1 Quarter
Loss from continuing operations	`IncomeLossFromContinuingOperations`	$-238.00K	USD	1 Quarter
Income (loss) from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-38.00K	USD	1 Quarter
Income (loss) from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$44.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-353.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-194.00K	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.04	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.01	USD	1 Quarter
Net loss per share	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Net loss per share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.04	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.03	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.01	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net loss per share	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Net loss per share	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.83M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.72M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.72M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.83M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-353.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-194.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$2.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$20.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$220.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$272.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$272.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$51.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$52.00K	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Loss on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-40.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$24.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-383.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-94.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$532.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$349.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$107.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$613.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$167.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-20.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$156.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$235.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-65.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-600.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-761.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-40.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.51M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-699.00K	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	$22.00K	USD	1 Quarter
Proceeds from sale of inventory	`ProceedsFromSaleOfInventory`	-	USD	1 Quarter
Proceeds from sale of inventory	`ProceedsFromSaleOfInventory`	$322.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$70.00K	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`	$-6.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$20.00K	USD	1 Quarter
Excess tax provision (benefit) from canceled stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-23.00K	USD	1 Quarter
Excess tax provision (benefit) from canceled stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$176.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$610.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-199.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-590.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-904.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.83M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.77M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.59M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.26M	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`	$4.35M	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`	$5.26M	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`	$13.00K	USD	1 Quarter

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