10-Q Filing

HOOKER FURNISHINGS CORP CIK: 1077688 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001185185-15-001574`
Period End Date	20150430
Filing Date	20150609
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	hoft-20150503.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 28 Cash Flow Statement 66 Comprehensive Income 10

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.33M	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.23M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.69M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.77M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.88M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.81M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$40.53M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.81M	shares	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $1,233 and $1,329 on each respective date	`AccountsNotesAndLoansReceivableNetCurrent`	$32.24M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.77M	shares	Point-in-time
Trade accounts receivable, less allowance for doubtful accounts of $1,233 and $1,329 on each respective date	`AccountsNotesAndLoansReceivableNetCurrent`	$30.32M	USD	Point-in-time
Inventories	`InventoryNet`	$43.96M	USD	Point-in-time
Inventories	`InventoryNet`	$44.97M	USD	Point-in-time
Income Tax Recoverable	`IncomeTaxesReceivable`	$178.00K	USD	Point-in-time
Income Tax Recoverable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.35M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.13M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$871.00K	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$118.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$119.94M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$22.59M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$22.82M	USD	Point-in-time
Cash surrender value of life insurance policies	`CashSurrenderValueOfLifeInsurance`	$20.73M	USD	Point-in-time
Cash surrender value of life insurance policies	`CashSurrenderValueOfLifeInsurance`	$20.37M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$4.19M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$4.19M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.38M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.38M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.05M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.05M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$50.82M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$50.95M	USD	Point-in-time
Total assets	`Assets`	$168.95M	USD	Point-in-time
Total assets	`Assets`	$170.75M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$10.29M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$8.43M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$2.87M	USD	Point-in-time
Accrued salaries, wages and benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.82M	USD	Point-in-time
Income tax accrual	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income tax accrual	`AccruedIncomeTaxesCurrent`	$1.37M	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$940.00K	USD	Point-in-time
Accrued commissions	`AccruedSalesCommissionCurrent`	$916.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$910.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$853.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$942.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$813.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.09M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$8.53M	USD	Point-in-time
Deferred compensation	`DeferredCompensationLiabilityClassifiedNoncurrent`	$8.33M	USD	Point-in-time
Income tax accrual	`AccruedIncomeTaxesNoncurrent`	$89.00K	USD	Point-in-time
Income tax accrual	`AccruedIncomeTaxesNoncurrent`	$90.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$360.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$376.00K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$8.78M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$8.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.08M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.85M	USD	Point-in-time
Common stock, no par value, 20,000 shares authorized, 10,811 and 10,774 shares issued and outstanding, respectively, on each date	`CommonStockValue`	$18.39M	USD	Point-in-time
Common stock, no par value, 20,000 shares authorized, 10,811 and 10,774 shares issued and outstanding, respectively, on each date	`CommonStockValue`	$17.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$127.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$125.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-335.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-308.00K	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$142.91M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$145.87M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$170.75M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$168.95M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$61.40M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$60.96M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$45.79M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$44.58M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.38M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.13M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.37M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.24M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.24M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$46.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$132.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.29M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.37M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.49M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.47M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.72M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	10.76M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.76M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.78M	shares	1 Quarter
Cash dividends declared per share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter
Cash dividends declared per share (in Dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.10	USD	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$613.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$620.00K	USD	1 Quarter
Loss/(Gain) on disposal of assets	`GainLossOnDispositionOfAssets1`	$34.00K	USD	1 Quarter
Loss/(Gain) on disposal of assets	`GainLossOnDispositionOfAssets1`	$-41.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefitIncludingTaxReserves`	$353.00K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefitIncludingTaxReserves`	$826.00K	USD	1 Quarter
Noncash restricted stock and performance awards	`ShareBasedCompensation`	$157.00K	USD	1 Quarter
Noncash restricted stock and performance awards	`ShareBasedCompensation`	$135.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$698.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$125.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.22M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.13M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.43M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.02M	USD	1 Quarter
Income tax recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-682.00K	USD	1 Quarter
Income tax recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$178.00K	USD	1 Quarter
Gain on life insurance policies	`GainOnLifeInsurancePolicies`	$173.00K	USD	1 Quarter
Gain on life insurance policies	`GainOnLifeInsurancePolicies`	$126.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-237.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-193.00K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.87M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.62M	USD	1 Quarter
Accrued salaries, wages, and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.49M	USD	1 Quarter
Accrued salaries, wages, and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-673.00K	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.37M	USD	1 Quarter
Accrued income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$142.00K	USD	1 Quarter
Accrued commissions	`IncreaseDecreaseInAccruedLiabilities`	$24.00K	USD	1 Quarter
Accrued commissions	`IncreaseDecreaseInAccruedLiabilities`	$-78.00K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-226.00K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$58.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$77.00K	USD	1 Quarter
Other accrued expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$130.00K	USD	1 Quarter
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$34.00K	USD	1 Quarter
Deferred compensation	`IncreaseDecreaseInDeferredCompensation`	$146.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$20.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$15.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.54M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$428.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.01M	USD	1 Quarter
Proceeds received on notes for sale of assets	`ProceedsFromCollectionOfNotesReceivable`	$11.00K	USD	1 Quarter
Proceeds received on notes for sale of assets	`ProceedsFromCollectionOfNotesReceivable`	$7.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$65.00K	USD	1 Quarter
Premiums paid on life insurance policies	`PaymentsToAcquireLifeInsurancePolicies`	$190.00K	USD	1 Quarter
Premiums paid on life insurance policies	`PaymentsToAcquireLifeInsurancePolicies`	$168.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-589.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.12M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$1.08M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$1.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.08M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.07M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.87M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.80M	USD	1 Quarter
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$31.69M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$23.88M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$38.66M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$40.53M	USD	Point-in-time
Cash and cash equivalents - end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$31.69M	USD	Point-in-time
Cash and cash equivalents - end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$23.88M	USD	Point-in-time
Cash and cash equivalents - end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$38.66M	USD	Point-in-time
Cash and cash equivalents - end of quarter	`CashAndCashEquivalentsAtCarryingValue`	$40.53M	USD	Point-in-time
Income taxes paid, net	`IncomeTaxesPaidNet`	$-2.61M	USD	1 Quarter
Income taxes paid, net	`IncomeTaxesPaidNet`	$-294.00K	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$2.80M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$3.47M	USD	1 Quarter
Amortization of actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax`	$13.00K	USD	1 Quarter
Amortization of actuarial loss (gain)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax`	$-45.00K	USD	1 Quarter
Income tax effect on amortization	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$5.00K	USD	1 Quarter
Income tax effect on amortization	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossTax`	$-17.00K	USD	1 Quarter
Adjustments to net periodic benefit cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$8.00K	USD	1 Quarter
Adjustments to net periodic benefit cost	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-28.00K	USD	1 Quarter
Total comprehensive Income	`ComprehensiveIncomeNetOfTax`	$2.80M	USD	1 Quarter
Total comprehensive Income	`ComprehensiveIncomeNetOfTax`	$3.50M	USD	1 Quarter

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