10-Q Filing

EACO CORP CIK: 784539 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001144204-17-020546`
Period End Date	20170228
Filing Date	20170414
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	eaco-20170228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 60 Cash Flow Statement 60 Comprehensive Income 12

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.37M	USD	Point-in-time
Convertible preferred stock, liquidated (in dollars)	`PreferredStockLiquidationPreferenceValue`	$900.00K	USD	Point-in-time
Restricted cash, current	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$2.47M	USD	Point-in-time
Convertible preferred stock, liquidated (in dollars)	`PreferredStockLiquidationPreferenceValue`	$900.00K	USD	Point-in-time
Restricted cash, current	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.43M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$19.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$18.80M	USD	Point-in-time
Inventory, net	`InventoryNet`	$24.59M	USD	Point-in-time
Inventory, net	`InventoryNet`	$21.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Marketable securities, trading	`TradingSecurities`	$226.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Marketable securities, trading	`TradingSecurities`	$540.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.14M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$52.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$48.31M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$1.40M	USD	Point-in-time
Equipment and leasehold improvements, net	`PropertyPlantAndEquipmentNet`	$1.93M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$890.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$876.00K	USD	Point-in-time
Total assets	`Assets`	$50.59M	USD	Point-in-time
Total assets	`Assets`	$55.24M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$12.73M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$13.50M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$5.60M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$3.17M	USD	Point-in-time
Liability for short sales of trading securities	`OtherLiabilitiesCurrent`	$2.47M	USD	Point-in-time
Liability for short sales of trading securities	`OtherLiabilitiesCurrent`	$1.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.75M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.02M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$19.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.15M	USD	Point-in-time
Convertible preferred stock, $0.01 par value per share; 10,000,000 shares authorized; 36,000 shares outstanding (liquidation value $900)	`PreferredStockValue`	$1.00K	USD	Point-in-time
Convertible preferred stock, $0.01 par value per share; 10,000,000 shares authorized; 36,000 shares outstanding (liquidation value $900)	`PreferredStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.01 par value per share; 8,000,000 shares authorized; 4,861,590 shares outstanding	`CommonStockValue`	$49.00K	USD	Point-in-time
Common stock, $0.01 par value per share; 8,000,000 shares authorized; 4,861,590 shares outstanding	`CommonStockValue`	$49.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.38M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$730.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$611.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$17.68M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$30.84M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$32.09M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$50.59M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$55.24M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$37.28M	USD	1 Quarter
Revenues	`Revenues`	$68.88M	USD	2 Qtrs
Revenues	`Revenues`	$34.59M	USD	1 Quarter
Revenues	`Revenues`	$74.49M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$48.79M	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	$26.71M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$24.47M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$53.36M	USD	2 Qtrs
Gross margin	`GrossProfit`	$10.12M	USD	1 Quarter
Gross margin	`GrossProfit`	$21.13M	USD	2 Qtrs
Gross margin	`GrossProfit`	$20.09M	USD	2 Qtrs
Gross margin	`GrossProfit`	$10.57M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$9.31M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$18.22M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$18.70M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$9.09M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.87M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.03M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.26M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.43M	USD	2 Qtrs
Net (loss) gain on trading securities	`TradingSecuritiesRealizedGainLoss`	$180.00K	USD	1 Quarter
Net (loss) gain on trading securities	`TradingSecuritiesRealizedGainLoss`	$171.00K	USD	2 Qtrs
Net (loss) gain on trading securities	`TradingSecuritiesRealizedGainLoss`	$-23.00K	USD	1 Quarter
Net (loss) gain on trading securities	`TradingSecuritiesRealizedGainLoss`	$-126.00K	USD	2 Qtrs
Interest and other (expense)	`InterestIncomeExpenseNet`	$-4.00K	USD	2 Qtrs
Interest and other (expense)	`InterestIncomeExpenseNet`	$-35.00K	USD	2 Qtrs
Interest and other (expense)	`InterestIncomeExpenseNet`	$-31.00K	USD	1 Quarter
Interest and other (expense)	`InterestIncomeExpenseNet`	$2.00K	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$182.00K	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$-54.00K	USD	1 Quarter
Total other (expense) income	`NonoperatingIncomeExpense`	$167.00K	USD	2 Qtrs
Total other (expense) income	`NonoperatingIncomeExpense`	$-161.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.22M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.04M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.21M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.27M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$484.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$861.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$459.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$804.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$731.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.41M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$748.00K	USD	1 Quarter
Cumulative preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$38.00K	USD	2 Qtrs
Cumulative preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$19.00K	USD	1 Quarter
Cumulative preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$19.00K	USD	1 Quarter
Cumulative preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$38.00K	USD	2 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.19M	USD	2 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$712.00K	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.37M	USD	2 Qtrs
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$729.00K	USD	1 Quarter
Basic and diluted earnings per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.28	USD	2 Qtrs
Basic and diluted earnings per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.25	USD	2 Qtrs
Basic and diluted earnings per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	USD	1 Quarter
Basic and diluted earnings per share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.15	USD	1 Quarter
Basic and diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.86M	shares	1 Quarter
Basic and diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.86M	shares	2 Qtrs
Basic and diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.86M	shares	2 Qtrs
Basic and diluted weighted average common shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.86M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$731.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.41M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$748.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$287.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$359.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$24.00K	USD	2 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$62.00K	USD	2 Qtrs
Change in inventory reserve	`InventoryWriteDown`	$118.00K	USD	2 Qtrs
Change in inventory reserve	`InventoryWriteDown`	$81.00K	USD	2 Qtrs
Net loss (gain) on investments	`GainLossOnSaleOfInvestments`	$171.00K	USD	2 Qtrs
Net loss (gain) on investments	`GainLossOnSaleOfInvestments`	$-102.00K	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$1.04M	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$-736.00K	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.12M	USD	2 Qtrs
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$266.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.02M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$3.13M	USD	2 Qtrs
Marketable securities, trading	`IncreaseDecreaseInTradingSecurities`	$-212.00K	USD	2 Qtrs
Marketable securities, trading	`IncreaseDecreaseInTradingSecurities`	$913.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$242.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.00K	USD	2 Qtrs
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$962.00K	USD	2 Qtrs
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-672.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.02M	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-2.43M	USD	2 Qtrs
Liability for short sales of trading securities	`IncreaseDecreaseInTradingLiabilities`	$-727.00K	USD	2 Qtrs
Liability for short sales of trading securities	`IncreaseDecreaseInTradingLiabilities`	$1.04M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.85M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-4.28M	USD	2 Qtrs
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$168.00K	USD	2 Qtrs
Purchase of equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$898.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-168.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-898.00K	USD	2 Qtrs
Borrowings on revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$987.00K	USD	2 Qtrs
Borrowings on revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$4.02M	USD	2 Qtrs
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$38.00K	USD	2 Qtrs
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$38.00K	USD	2 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$1.45M	USD	2 Qtrs
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$1.25M	USD	2 Qtrs
Payments on long-term debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-2.00K	USD	2 Qtrs
Payments on long-term debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	-	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.19M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.42M	USD	2 Qtrs
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-119.00K	USD	2 Qtrs
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-67.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-895.00K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$123.00K	USD	2 Qtrs
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.88M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.37M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.27M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.00M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.88M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.37M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$14.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$34.00K	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$2.63M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$2.19M	USD	2 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$731.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.23M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.41M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$748.00K	USD	1 Quarter
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-119.00K	USD	2 Qtrs
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-66.00K	USD	1 Quarter
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-67.00K	USD	2 Qtrs
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-60.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.16M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$665.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.29M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$688.00K	USD	1 Quarter

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