10-Q Filing

R F INDUSTRIES LTD CIK: 740664 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001144204-19-013512`
Period End Date	20190131
Filing Date	20190312
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	rfil-20190131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 42 Cash Flow Statement 62 Stockholders Equity 16

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$88.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$50.00K	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`	$14.02M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.95M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.36M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.29M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $50 and $88, respectively	`AccountsReceivableNetCurrent`	$5.63M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $50 and $88, respectively	`AccountsReceivableNetCurrent`	$4.25M	USD	Point-in-time
Inventories	`InventoryNet`	$7.11M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.36M	shares	Point-in-time
Inventories	`InventoryNet`	$8.17M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.29M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$781.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$828.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$28.60M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$28.53M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.26M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.21M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$822.00K	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$844.00K	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.11M	USD	Point-in-time
Property, Plant and Equipment, Gross	`PropertyPlantAndEquipmentGross`	$4.03M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.47M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.54M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$559.00K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$564.00K	USD	Point-in-time
Goodwill	`Goodwill`	$1.34M	USD	Point-in-time
Goodwill	`Goodwill`	$1.34M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.30M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.37M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$657.00K	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$657.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$49.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$26.85M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.50M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$32.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.34M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.38M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.06M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$3.80M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$4.72M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$11.00K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$4.72M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.81M	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; 9,356,935 and 9,291,201 shares issued and outstanding at January 31, 2019 and October 31, 2018, respectively	`CommonStockValue`	$94.00K	USD	Point-in-time
Common stock - authorized 20,000,000 shares of $0.01 par value; 9,356,935 and 9,291,201 shares issued and outstanding at January 31, 2019 and October 31, 2018, respectively	`CommonStockValue`	$93.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.43M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$20.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.17M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$28.69M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$27.78M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.51M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$32.50M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$10.65M	USD	1 Quarter
Net sales	`Revenues`	$7.97M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$5.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$7.50M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.15M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$321.00K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$320.00K	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$2.04M	USD	1 Quarter
Selling and general	`SellingGeneralAndAdministrativeExpense`	$1.78M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$786.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$358.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$22.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$808.00K	USD	1 Quarter
Income from continuing operations before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$360.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$168.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$56.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$640.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$304.00K	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Income from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$150.00K	USD	1 Quarter
Consolidated net income	`NetIncomeLoss`	$454.00K	USD	1 Quarter
Consolidated net income	`NetIncomeLoss`	$640.00K	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.07	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	$0.02	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare`	-	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.03	USD	1 Quarter
Continuing operations	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.07	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	-	USD	1 Quarter
Discontinued operations	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare`	$0.02	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	8.88M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	9.31M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.10M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.84M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`NetIncomeLoss`	$454.00K	USD	1 Quarter
Consolidated net income	`NetIncomeLoss`	$640.00K	USD	1 Quarter
Income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Income from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$150.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$640.00K	USD	1 Quarter
Income from continuing operations	`IncomeLossFromContinuingOperations`	$304.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivablesWriteOffs`	$-4.00K	USD	1 Quarter
Bad debt expense	`AllowanceForDoubtfulAccountsReceivablesWriteOffs`	$5.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$127.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$137.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$75.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$114.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-15.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$11.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.38M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.07M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.06M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$752.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$182.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-47.00K	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-21.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$402.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$638.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$589.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.32M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-49.00K	USD	1 Quarter
Net cash used in operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-220.00K	USD	1 Quarter
Net cash used in operating activities from continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-2.40M	USD	1 Quarter
Net cash provided by operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$69.00K	USD	1 Quarter
Net cash provided by operating activities from discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	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`	$73.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$22.00K	USD	1 Quarter
Net cash provided by (used in) investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-73.00K	USD	1 Quarter
Net cash provided by (used in) investing activities from continuing operations	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$12.00K	USD	1 Quarter
Net cash used in investing activities from discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-1.00K	USD	1 Quarter
Net cash used in investing activities from discontinued operations	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$157.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$342.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$186.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$176.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$156.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-19.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-159.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.32M	USD	1 Quarter
Cash and cash equivalents of continuing operations, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.02M	USD	Point-in-time
Cash and cash equivalents of continuing operations, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.04M	USD	Point-in-time
Cash and cash equivalents of continuing operations, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.33M	USD	Point-in-time
Cash and cash equivalents of continuing operations, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.95M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$14.02M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$5.88M	USD	Point-in-time
Less: cash and cash equivalents of discontinued operations	`DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents`	-	USD	Point-in-time
Less: cash and cash equivalents of discontinued operations	`DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents`	$930.00K	USD	Point-in-time
Cash and cash equivalents of continuing operations at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.02M	USD	Point-in-time
Cash and cash equivalents of continuing operations at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.04M	USD	Point-in-time
Cash and cash equivalents of continuing operations at end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.33M	USD	Point-in-time
Cash and cash equivalents of continuing operations at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.95M	USD	Point-in-time
Supplemental cash flow information income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Supplemental cash flow information income taxes paid	`IncomeTaxesPaid`	$3.00K	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.34M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.78M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.69M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.85M	USD	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$342.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$157.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$114.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$75.00K	USD	1 Quarter
Dividends	`DividendsCommonStockCash`	$186.00K	USD	1 Quarter
Dividends	`DividendsCommonStockCash`	$176.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$454.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$640.00K	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.34M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.78M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.69M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$21.85M	USD	Point-in-time

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