10-Q Filing

GENCOR INDUSTRIES INC CIK: 64472 Q3 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-295545`
Period End Date	20140630
Filing Date	20140805
Fiscal Year	2014
Fiscal Period	Q3
XBRL Instance	genc-20140630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 60 Cash Flow Statement 53

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$83.61M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$81.17M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$247.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$309.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.56M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.74M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.36M	USD	Point-in-time
Marketable securities at fair value (cost $83,606,000 at June 30, 2014 and $81,165,000 at September 30, 2013)	`MarketableSecuritiesCurrent`	$83.11M	USD	Point-in-time
Marketable securities at fair value (cost $83,606,000 at June 30, 2014 and $81,165,000 at September 30, 2013)	`MarketableSecuritiesCurrent`	$87.59M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $247,000 at June 30, 2014 and $309,000 at September 30, 2013	`AccountsReceivableNetCurrent`	$1.15M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $247,000 at June 30, 2014 and $309,000 at September 30, 2013	`AccountsReceivableNetCurrent`	$1.20M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$411.00K	USD	Point-in-time
Inventories, net	`InventoryNet`	$14.13M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$12.62M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.01M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$795.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$625.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.01M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$112.13M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.01M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.01M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$108.79M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.39M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.08M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$70.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$78.00K	USD	Point-in-time
Total Assets	`Assets`	$116.95M	USD	Point-in-time
Total Assets	`Assets`	$119.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.04M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$330.00K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.94M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$2.23M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$2.81M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.04M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.60M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$484.00K	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.35M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.95M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.52M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $.10 per share; authorized 300,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.10 per share; authorized 300,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$801.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$801.00K	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$10.29M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$10.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$99.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$103.19M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$110.43M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$114.64M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$119.59M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$116.95M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$41.38M	USD	3 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$18.69M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$35.11M	USD	3 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$10.55M	USD	1 Quarter
Production costs	`CostOfRevenue`	$27.60M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$13.72M	USD	1 Quarter
Production costs	`CostOfRevenue`	$31.66M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$8.27M	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$1.32M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$1.08M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$420.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$352.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.56M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.87M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.81M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.81M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$16.01M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$33.50M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$38.79M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$10.18M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.61M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$2.58M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$2.68M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$372.00K	USD	1 Quarter
Interest and dividend income, net of fees	`InterestAndDividendIncomeOperating`	$1.76M	USD	3 Qtrs
Interest and dividend income, net of fees	`InterestAndDividendIncomeOperating`	$516.00K	USD	1 Quarter
Interest and dividend income, net of fees	`InterestAndDividendIncomeOperating`	$1.60M	USD	3 Qtrs
Interest and dividend income, net of fees	`InterestAndDividendIncomeOperating`	$168.00K	USD	1 Quarter
Net realized and unrealized gains on marketable securities	`MarketableSecuritiesGainLoss`	$888.00K	USD	3 Qtrs
Net realized and unrealized gains on marketable securities	`MarketableSecuritiesGainLoss`	$145.00K	USD	1 Quarter
Net realized and unrealized gains on marketable securities	`MarketableSecuritiesGainLoss`	$2.88M	USD	3 Qtrs
Net realized and unrealized gains on marketable securities	`MarketableSecuritiesGainLoss`	$1.66M	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$18.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$434.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$33.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$442.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$4.91M	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$2.27M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$2.68M	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$679.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.52M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.64M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.26M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.36M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.51M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$771.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$977.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$873.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$4.49M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$4.01M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$1.66M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.49M	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.47	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.42	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.47	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.42	USD	3 Qtrs

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$4.49M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$4.01M	USD	3 Qtrs
Net Income	`NetIncomeLoss`	$1.66M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$2.49M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$220.10M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$52.66M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$52.76M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$218.08M	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInMarketableSecuritiesRestricted`	$2.46M	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInMarketableSecuritiesRestricted`	$753.00K	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-867.00K	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.69M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.03M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$881.00K	USD	3 Qtrs
Net gains on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$417.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$40.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$40.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$184.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$199.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-11.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-24.00K	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$783.00K	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-411.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.51M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-24.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-170.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.48M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-238.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-186.00K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$1.09M	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-1.61M	USD	3 Qtrs
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$-663.00K	USD	3 Qtrs
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$-583.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.75M	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-3.91M	USD	3 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$6.24M	USD	3 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$96.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$601.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.11M	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$685.00K	USD	3 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$685.00K	USD	Point-in-time
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$84.00K	USD	3 Qtrs
Cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.11M	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.13M	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$180.00K	USD	3 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.49M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.56M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.74M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.36M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$8.49M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$9.56M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$9.74M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$3.36M	USD	Point-in-time

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