10-K Filing

R F INDUSTRIES LTD CIK: 740664 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001144204-18-003386`
Period End Date	20171031
Filing Date	20180124
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	rfil-20171031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 44 Cash Flow Statement 66 Stockholders Equity 17

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$73.00K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.26M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.04M	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 $73 and $62, respectively	`AccountsReceivableNetCurrent`	$3.90M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.87M	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 $73 and $62, respectively	`AccountsReceivableNetCurrent`	$4.08M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.87M	shares	Point-in-time
Inventories	`InventoryNet`	$6.02M	USD	Point-in-time
Inventories	`InventoryNet`	$6.11M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.84M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.44M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$744.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$16.79M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$16.79M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.30M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.20M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$799.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$871.00K	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.00M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.17M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.46M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.17M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$711.00K	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`	$3.62M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.03M	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`	$70.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$25.06M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$25.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.14M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.77M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.24M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.60M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.91M	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$119.00K	USD	Point-in-time
Deferred tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$409.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$128.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.45M	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; 8,872,246 and 8,835,483 shares issued and outstanding at October 31, 2017 and 2016, respectively	`CommonStockValue`	$88.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 8,872,246 and 8,835,483 shares issued and outstanding at October 31, 2017 and 2016, respectively	`CommonStockValue`	$89.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.38M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.93M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$21.34M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$21.39M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$25.06M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$25.84M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$30.24M	USD	Annual
Net sales	`Revenues`	$30.96M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$21.78M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$22.24M	USD	Annual
Gross profit	`GrossProfit`	$8.46M	USD	Annual
Gross profit	`GrossProfit`	$8.72M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$747.00K	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$845.00K	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$7.51M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$9.56M	USD	Annual
Goodwill and other intangible asset impairment	`GoodwillAndIntangibleAssetImpairment`	$2.84M	USD	Annual
Goodwill and other intangible asset impairment	`GoodwillAndIntangibleAssetImpairment`	-	USD	Annual
Total operating expense	`OperatingExpenses`	$8.35M	USD	Annual
Total operating expense	`OperatingExpenses`	$13.15M	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$371.00K	USD	Annual
Operating income (loss)	`OperatingIncomeLoss`	$-4.69M	USD	Annual
Other income	`NonoperatingIncomeExpense`	$29.00K	USD	Annual
Other income	`NonoperatingIncomeExpense`	$5.00K	USD	Annual
Income (loss) from continuing operations before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.68M	USD	Annual
Income (loss) from continuing operations before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$400.00K	USD	Annual
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-652.00K	USD	Annual
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$134.00K	USD	Annual
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$266.00K	USD	Annual
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-4.03M	USD	Annual
Income (loss) from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$116.00K	USD	Annual
Income (loss) from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-58.00K	USD	Annual
Consolidated net income (loss)	`NetIncomeLoss`	$-4.09M	USD	Annual
Consolidated net income (loss)	`NetIncomeLoss`	$382.00K	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.46	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.03	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$-0.01	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.01	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$-0.47	USD	Annual
Net income (loss) per share	`EarningsPerShareBasic`	$0.04	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.03	USD	Annual
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.46	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.01	USD	Annual
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$-0.01	USD	Annual
Net income (loss) per share	`EarningsPerShareDiluted`	$0.04	USD	Annual
Net income (loss) per share	`EarningsPerShareDiluted`	$-0.47	USD	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.79M	shares	Annual
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.84M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.79M	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.92M	shares	Annual

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income (loss)	`NetIncomeLoss`	$-4.09M	USD	Annual
Consolidated net income (loss)	`NetIncomeLoss`	$382.00K	USD	Annual
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$11.00K	USD	Annual
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$9.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$877.00K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.04M	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`	-	USD	Annual
Gain (loss) on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	$-68.00K	USD	Annual
Gain (loss) on disposal of fixed assets	`GainLossOnDispositionOfAssets1`	-	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$214.00K	USD	Annual
Stock-based compensation expense	`ShareBasedCompensation`	$206.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-290.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-307.00K	USD	Annual
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$154.00K	USD	Annual
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$6.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-165.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$107.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-417.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$87.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-698.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$554.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$102.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-71.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-355.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$218.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-98.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-528.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-128.00K	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`	$1.60M	USD	Annual
Proceeds from notes receivable from stockholder	`ProceedsFromSaleOfNotesReceivable`	-	USD	Annual
Proceeds from notes receivable from stockholder	`ProceedsFromSaleOfNotesReceivable`	$67.00K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfProductiveAssets`	-	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`	$171.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$384.00K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-171.00K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$26.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$49.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$56.00K	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$158.00K	USD	Annual
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$6.00K	USD	Annual
Excess tax benefit from exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$154.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$1.14M	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$707.00K	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.10M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-645.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.34M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$781.00K	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`	$6.04M	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`	$6.04M	USD	Point-in-time
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$349.00K	USD	Annual
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$208.00K	USD	Annual
Retirement of treasury stock	`TreasuryStockRetiredParValueMethodAmount`	-	USD	Annual
Retirement of treasury stock	`TreasuryStockRetiredParValueMethodAmount`	$157.00K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.37M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.34M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.39M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$56.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$49.00K	USD	Annual
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$6.00K	USD	Annual
Excess tax benefit from exercise of stock options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$154.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$206.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$214.00K	USD	Annual
Dividends	`DividendsCommonStockCash`	$1.14M	USD	Annual
Dividends	`DividendsCommonStockCash`	$707.00K	USD	Annual
Treasury stock purchased and retired	`StockRepurchasedAndRetiredDuringPeriodValue`	$158.00K	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$-4.09M	USD	Annual
Net Income (loss)	`NetIncomeLoss`	$382.00K	USD	Annual
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$26.37M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.34M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.39M	USD	Point-in-time

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