10-Q Filing

R F INDUSTRIES LTD CIK: 740664 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001144204-18-014372`
Period End Date	20180131
Filing Date	20180313
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	rfil-20180131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 42 Cash Flow Statement 54

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$71.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$73.00K	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`	$4.35M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.04M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $71 and $73, respectively	`AccountsReceivableNetCurrent`	$5.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.87M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $71 and $73, respectively	`AccountsReceivableNetCurrent`	$3.90M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.97M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.97M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.87M	shares	Point-in-time
Inventories	`InventoryNet`	$6.11M	USD	Point-in-time
Inventories	`InventoryNet`	$6.80M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$744.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$755.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$18.83M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$16.79M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.32M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.30M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$871.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$837.00K	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.16M	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`	$3.54M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$626.00K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$711.00K	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`	$3.03M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.89M	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`	$49.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$70.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$26.85M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$25.06M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.36M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.10M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.24M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.70M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$96.00K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.60M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.89M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$104.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$119.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$5.00M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.72M	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; 8,974,297 and 8,872,246 shares issued and outstanding at January 31, 2018 and October 31, 2017, respectively	`CommonStockValue`	$89.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 8,974,297 and 8,872,246 shares issued and outstanding at January 31, 2018 and October 31, 2017, respectively	`CommonStockValue`	$90.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$19.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.88M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$21.85M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$21.34M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$26.85M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$25.06M	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`	$10.34M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$7.27M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$4.76M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.07M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.86M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$326.00K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$224.00K	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$1.99M	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$2.52M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$2.22M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$554.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-359.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$20.00K	USD	1 Quarter
Income (loss) from continuing operations before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-339.00K	USD	1 Quarter
Income (loss) from continuing operations before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$557.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$103.00K	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-101.00K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$454.00K	USD	1 Quarter
Income (loss) from continuing operations	`IncomeLossFromContinuingOperations`	$-238.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$44.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Consolidated net income (loss)	`NetIncomeLoss`	$-194.00K	USD	1 Quarter
Consolidated net income (loss)	`NetIncomeLoss`	$454.00K	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.05	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.03	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.01	USD	1 Quarter
Net income (loss) per share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Net income (loss) per share	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.05	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.01	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Net income (loss) per share	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Net income (loss) per share	`EarningsPerShareDiluted`	$-0.02	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.83M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.88M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	8.83M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.10M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-194.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$454.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$-2.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivableWriteOffs`	$2.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$220.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$212.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$51.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$75.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-15.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$24.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-383.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.49M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$688.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$532.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$11.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$107.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-20.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-21.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$745.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$235.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$96.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-761.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$455.00K	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`	$-699.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-152.00K	USD	1 Quarter
Proceeds from landlord for tenant improvements	`ProceedsFromCollectionOfLeaseReceivables`	$34.00K	USD	1 Quarter
Proceeds from landlord for tenant improvements	`ProceedsFromCollectionOfLeaseReceivables`	-	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$12.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$157.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Excess tax benefit from cancelled stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$-23.00K	USD	1 Quarter
Excess tax benefit from cancelled stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$176.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$176.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-199.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-159.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-904.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.35M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.88M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.26M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.04M	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`	$5.88M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.26M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.04M	USD	Point-in-time
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$13.00K	USD	1 Quarter
Supplemental cash flow information - income taxes paid	`IncomeTaxesPaid`	$3.00K	USD	1 Quarter

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