10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001193125-12-234474 |
| Period End Date | 20120331 |
| Filing Date | 20120515 |
| Fiscal Year | 2012 |
| Fiscal Period | Q1 |
| XBRL Instance | mfi-20120331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
68 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Preferred stock, par value |
PreferredStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Preferred stock, par value |
PreferredStockParOrStatedValuePerShare
|
$0.01 | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.23M | USD | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
5.00M | shares | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
5.00M | shares | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.53M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.49M | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$2.45M | USD | Point-in-time |
| Preferred stock, shares issued |
PreferredStockSharesIssued
|
- | shares | Point-in-time |
| Restricted cash |
RestrictedCashAndCashEquivalentsAtCarryingValue
|
$382.00K | USD | Point-in-time |
| Preferred stock, shares issued |
PreferredStockSharesIssued
|
- | shares | Point-in-time |
| Restricted cash |
RestrictedCashAndCashEquivalentsAtCarryingValue
|
$369.00K | 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 |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
25.00M | shares | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
25.00M | shares | Point-in-time |
| Receivables due in installments |
CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived
|
$202.64M | USD | Point-in-time |
| Receivables due in installments |
CapitalLeasesNetInvestmentInDirectFinancingLeasesMinimumPaymentsToBeReceived
|
$200.50M | USD | Point-in-time |
| Common stock, shares issued |
CommonStockSharesIssued
|
14.30M | shares | Point-in-time |
| Estimated residual value |
CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty
|
$23.29M | USD | Point-in-time |
| Estimated residual value |
CapitalLeasesNetInvestmentInDirectFinancingLeasesUnguaranteedResidualValuesOfLeasedProperty
|
$23.53M | USD | Point-in-time |
| Common stock, shares issued |
CommonStockSharesIssued
|
14.26M | shares | Point-in-time |
| Initial direct costs |
CapitalLeasesNetInvestmentInDirectFinancingLeasesInitialDirectCosts
|
$1.48M | USD | Point-in-time |
| Initial direct costs |
CapitalLeasesNetInvestmentInDirectFinancingLeasesInitialDirectCosts
|
$1.52M | USD | Point-in-time |
| Advance lease payments and deposits |
AdvanceLeasePaymentsAndDeposits
|
$3.53M | USD | Point-in-time |
| Advance lease payments and deposits |
AdvanceLeasePaymentsAndDeposits
|
$3.39M | USD | Point-in-time |
| Unearned income |
CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome
|
$59.95M | USD | Point-in-time |
| Unearned income |
CapitalLeasesNetInvestmentInDirectFinancingLeasesDeferredIncome
|
$60.56M | USD | Point-in-time |
| Allowance for credit losses |
CapitalLeasesNetInvestmentInDirectFinancingLeasesAllowanceForUncollectibleMinimumLeasePayments
|
$13.18M | USD | Point-in-time |
| Allowance for credit losses |
CapitalLeasesNetInvestmentInDirectFinancingLeasesAllowanceForUncollectibleMinimumLeasePayments
|
$12.86M | USD | Point-in-time |
| Net investment in leases |
CapitalLeasesNetInvestmentInDirectFinancingLeases
|
$150.88M | USD | Point-in-time |
| Net investment in leases |
CapitalLeasesNetInvestmentInDirectFinancingLeases
|
$148.61M | USD | Point-in-time |
| Investment in rental contracts, net |
PropertySubjectToOrAvailableForOperatingLeaseNet
|
$943.00K | USD | Point-in-time |
| Investment in rental contracts, net |
PropertySubjectToOrAvailableForOperatingLeaseNet
|
$898.00K | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.85M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$1.91M | USD | Point-in-time |
| Other assets |
OtherAssets
|
$943.00K | USD | Point-in-time |
| Other assets |
OtherAssets
|
$1.09M | USD | Point-in-time |
| Total assets |
Assets
|
$155.34M | USD | Point-in-time |
| Total assets |
Assets
|
$157.47M | USD | Point-in-time |
| Revolving line of credit |
LineOfCredit
|
$62.98M | USD | Point-in-time |
| Revolving line of credit |
LineOfCredit
|
$62.74M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrentAndNoncurrent
|
$2.55M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrentAndNoncurrent
|
$2.42M | USD | Point-in-time |
| Capital lease obligation |
CapitalLeaseObligations
|
- | USD | Point-in-time |
| Capital lease obligation |
CapitalLeaseObligations
|
$1.00K | USD | Point-in-time |
| Dividends payable |
DividendsPayableCurrentAndNoncurrent
|
$19.00K | USD | Point-in-time |
| Dividends payable |
DividendsPayableCurrentAndNoncurrent
|
$22.00K | USD | Point-in-time |
| Other liabilities |
OtherLiabilities
|
$2.65M | USD | Point-in-time |
| Other liabilities |
OtherLiabilities
|
$2.22M | USD | Point-in-time |
| Income taxes payable |
AccruedIncomeTaxes
|
$760.00K | USD | Point-in-time |
| Income taxes payable |
AccruedIncomeTaxes
|
$672.00K | USD | Point-in-time |
| Deferred income taxes |
DeferredIncomeTaxLiabilities
|
$11.33M | USD | Point-in-time |
| Deferred income taxes |
DeferredIncomeTaxLiabilities
|
$11.60M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$80.35M | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$79.62M | USD | Point-in-time |
| Preferred stock, $.01 par value; 5,000,000 shares authorized; no shares issued at March 31, 2012 and December 31, 2011 |
PreferredStockValue
|
- | USD | Point-in-time |
| Preferred stock, $.01 par value; 5,000,000 shares authorized; no shares issued at March 31, 2012 and December 31, 2011 |
PreferredStockValue
|
- | USD | Point-in-time |
| Common stock, $.01 par value; 25,000,000 shares authorized; 14,297,524 and 14,257,324 shares issued at March 31, 2012 and December 31, 2011, respectively |
CommonStockValue
|
$143.00K | USD | Point-in-time |
| Common stock, $.01 par value; 25,000,000 shares authorized; 14,297,524 and 14,257,324 shares issued at March 31, 2012 and December 31, 2011, respectively |
CommonStockValue
|
$143.00K | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$46.98M | USD | Point-in-time |
| Additional paid-in capital |
AdditionalPaidInCapitalCommonStock
|
$46.73M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$28.85M | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$30.00M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$77.12M | USD | Point-in-time |
| Total stockholders' equity |
StockholdersEquity
|
$75.72M | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$155.34M | USD | Point-in-time |
| Total liabilities and stockholders' equity |
LiabilitiesAndStockholdersEquity
|
$157.47M | USD | Point-in-time |
Income Statement
36 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Income on financing leases |
CapitalLeasesIncomeStatementDirectFinancingLeaseRevenue
|
$9.10M | USD | 1 Quarter |
| Income on financing leases |
CapitalLeasesIncomeStatementDirectFinancingLeaseRevenue
|
$9.63M | USD | 1 Quarter |
| Rental income |
OperatingLeasesIncomeStatementLeaseRevenue
|
$2.32M | USD | 1 Quarter |
| Rental income |
OperatingLeasesIncomeStatementLeaseRevenue
|
$2.01M | USD | 1 Quarter |
| Income on service contracts |
IncomeOnServiceContracts
|
$108.00K | USD | 1 Quarter |
| Income on service contracts |
IncomeOnServiceContracts
|
$85.00K | USD | 1 Quarter |
| Loss and damage waiver fees |
LossAndDamageWaiverFees
|
$1.20M | USD | 1 Quarter |
| Loss and damage waiver fees |
LossAndDamageWaiverFees
|
$1.29M | USD | 1 Quarter |
| Service fees and other |
RevenueOtherFinancialServices
|
$920.00K | USD | 1 Quarter |
| Service fees and other |
RevenueOtherFinancialServices
|
$932.00K | USD | 1 Quarter |
| Total revenues |
Revenues
|
$13.35M | USD | 1 Quarter |
| Total revenues |
Revenues
|
$14.24M | USD | 1 Quarter |
| Selling, general and administrative |
SellingGeneralAndAdministrativeExpense
|
$4.36M | USD | 1 Quarter |
| Selling, general and administrative |
SellingGeneralAndAdministrativeExpense
|
$3.95M | USD | 1 Quarter |
| Provision for credit losses |
ProvisionForLoanLeaseAndOtherLosses
|
$4.75M | USD | 1 Quarter |
| Provision for credit losses |
ProvisionForLoanLeaseAndOtherLosses
|
$4.90M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$1.01M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$681.00K | USD | 1 Quarter |
| Interest |
InterestExpense
|
$663.00K | USD | 1 Quarter |
| Interest |
InterestExpense
|
$633.00K | USD | 1 Quarter |
| Total expenses |
CostsAndExpenses
|
$10.89M | USD | 1 Quarter |
| Total expenses |
CostsAndExpenses
|
$10.05M | USD | 1 Quarter |
| Income before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$3.30M | USD | 1 Quarter |
| Income before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$3.35M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$1.34M | USD | 1 Quarter |
| Provision for income taxes |
IncomeTaxExpenseBenefit
|
$1.27M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$2.03M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$2.01M | USD | 1 Quarter |
| Net income per common share - basic |
EarningsPerShareBasic
|
$0.14 | USD | 1 Quarter |
| Net income per common share - basic |
EarningsPerShareBasic
|
$0.14 | USD | 1 Quarter |
| Net income per common share - diluted |
EarningsPerShareDiluted
|
$0.14 | USD | 1 Quarter |
| Net income per common share - diluted |
EarningsPerShareDiluted
|
$0.14 | USD | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
14.25M | shares | 1 Quarter |
| Basic |
WeightedAverageNumberOfSharesOutstandingBasic
|
14.28M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
14.53M | shares | 1 Quarter |
| Diluted |
WeightedAverageNumberOfDilutedSharesOutstanding
|
14.60M | shares | 1 Quarter |
Cash Flow Statement
68 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Cash received from customers |
ProceedsFromCustomers
|
$29.12M | USD | 1 Quarter |
| Cash received from customers |
ProceedsFromCustomers
|
$25.79M | USD | 1 Quarter |
| Cash paid to suppliers and employees |
PaymentsToSuppliersAndEmployees
|
$5.13M | USD | 1 Quarter |
| Cash paid to suppliers and employees |
PaymentsToSuppliersAndEmployees
|
$4.59M | USD | 1 Quarter |
| Cash paid for income taxes |
IncomeTaxesPaid
|
$1.16M | USD | 1 Quarter |
| Cash paid for income taxes |
IncomeTaxesPaid
|
$22.00K | USD | 1 Quarter |
| Interest paid |
InterestPaid
|
$556.00K | USD | 1 Quarter |
| Interest paid |
InterestPaid
|
$616.00K | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$20.56M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$22.27M | USD | 1 Quarter |
| Investment in lease and rental contracts |
PaymentsToAcquireLeasesHeldForInvestment
|
$18.20M | USD | 1 Quarter |
| Investment in lease and rental contracts |
PaymentsToAcquireLeasesHeldForInvestment
|
$21.18M | USD | 1 Quarter |
| Investment in direct costs |
PaymentForInvestmentInDirectCosts
|
$240.00K | USD | 1 Quarter |
| Investment in direct costs |
PaymentForInvestmentInDirectCosts
|
$348.00K | USD | 1 Quarter |
| Investment in property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$490.00K | USD | 1 Quarter |
| Investment in property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$95.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-18.93M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-21.62M | USD | 1 Quarter |
| Proceeds from secured debt |
ProceedsFromIssuanceOfSecuredDebt
|
$29.55M | USD | 1 Quarter |
| Proceeds from secured debt |
ProceedsFromIssuanceOfSecuredDebt
|
$24.62M | USD | 1 Quarter |
| Repayment of secured debt |
RepaymentsOfSecuredDebt
|
$25.38M | USD | 1 Quarter |
| Repayment of secured debt |
RepaymentsOfSecuredDebt
|
$29.31M | USD | 1 Quarter |
| Payment of debt closing costs |
PaymentsOfDebtClosingCosts
|
$2.00K | USD | 1 Quarter |
| (Increase) decrease in restricted cash |
IncreaseDecreaseInRestrictedCash
|
$-13.00K | USD | 1 Quarter |
| (Increase) decrease in restricted cash |
IncreaseDecreaseInRestrictedCash
|
$199.00K | USD | 1 Quarter |
| Repayment of capital lease obligation |
RepaymentsOfLongTermCapitalLeaseObligations
|
$13.00K | USD | 1 Quarter |
| Repayment of capital lease obligation |
RepaymentsOfLongTermCapitalLeaseObligations
|
$1.00K | USD | 1 Quarter |
| Repurchase of common stock |
PaymentsForRepurchaseOfCommonStock
|
$240.00K | USD | 1 Quarter |
| Payment of dividends |
PaymentsOfDividendsCommonStock
|
$715.00K | USD | 1 Quarter |
| Payment of dividends |
PaymentsOfDividendsCommonStock
|
$861.00K | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-1.94M | USD | 1 Quarter |
| Net cash used in financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-608.00K | USD | 1 Quarter |
| Net change in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$35.00K | USD | 1 Quarter |
| Net change in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-296.00K | USD | 1 Quarter |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$1.23M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$1.53M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.49M | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.45M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$1.23M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$1.53M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.49M | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$2.45M | USD | Point-in-time |
| Net income |
NetIncomeLoss
|
$2.03M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$2.01M | USD | 1 Quarter |
| Amortization of unearned income, net of initial direct costs |
AmortizationOfUnearnedIncomeNetOfInitialDirectCosts
|
$-9.63M | USD | 1 Quarter |
| Amortization of unearned income, net of initial direct costs |
AmortizationOfUnearnedIncomeNetOfInitialDirectCosts
|
$-9.10M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$1.01M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$681.00K | USD | 1 Quarter |
| Provision for credit losses |
ProvisionForLoanAndLeaseLosses
|
$4.90M | USD | 1 Quarter |
| Provision for credit losses |
ProvisionForLoanAndLeaseLosses
|
$4.75M | USD | 1 Quarter |
| Recovery of equipment cost and residual value |
RecoveryOfEquipmentCostAndResidualValue
|
$20.57M | USD | 1 Quarter |
| Recovery of equipment cost and residual value |
RecoveryOfEquipmentCostAndResidualValue
|
$23.09M | USD | 1 Quarter |
| Stock-based compensation expense |
ShareBasedCompensation
|
$45.00K | USD | 1 Quarter |
| Stock-based compensation expense |
ShareBasedCompensation
|
$33.00K | USD | 1 Quarter |
| Income taxes payable |
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
$-88.00K | USD | 1 Quarter |
| Deferred income taxes |
IncreaseDecreaseInDeferredIncomeTaxes
|
$-268.00K | USD | 1 Quarter |
| Deferred income taxes |
IncreaseDecreaseInDeferredIncomeTaxes
|
$-1.02M | USD | 1 Quarter |
| Decrease in other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-150.00K | USD | 1 Quarter |
| Decrease in other assets |
IncreaseDecreaseInOtherOperatingAssets
|
$-278.00K | USD | 1 Quarter |
| Increase (decrease) in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$-131.00K | USD | 1 Quarter |
| Increase (decrease) in accounts payable |
IncreaseDecreaseInAccountsPayable
|
$89.00K | USD | 1 Quarter |
| Increase in other liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$434.00K | USD | 1 Quarter |
| Increase in other liabilities |
IncreaseDecreaseInOtherOperatingLiabilities
|
$428.00K | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$20.56M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$22.27M | USD | 1 Quarter |
| Acquisition of property and equipment through lease incentives |
AcquisitionOfPropertyAndEquipmentThroughLeaseIncentives
|
$700.00K | USD | 1 Quarter |
| Fair market value of stock issued for compensation |
StockIssued1
|
$212.00K | USD | 1 Quarter |
| Fair market value of stock issued for compensation |
StockIssued1
|
$210.00K | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.