10-Q Filing

GENCOR INDUSTRIES INC CIK: 64472 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001193125-16-676095`
Period End Date	20160630
Filing Date	20160809
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	genc-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 59 Cash Flow Statement 55

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$87.12M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$86.09M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$357.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$203.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.89M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.57M	USD	Point-in-time
Marketable securities at fair value (cost $86,090,000 at June 30, 2016 and $87,123,000 at September 30, 2015)	`MarketableSecuritiesCurrent`	$84.36M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Marketable securities at fair value (cost $86,090,000 at June 30, 2016 and $87,123,000 at September 30, 2015)	`MarketableSecuritiesCurrent`	$85.61M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $203,000 at June 30, 2016 and $357,000 at September 30, 2015	`AccountsReceivableNetCurrent`	$874.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $203,000 at June 30, 2016 and $357,000 at September 30, 2015	`AccountsReceivableNetCurrent`	$1.50M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$2.40M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$9.74M	USD	Point-in-time
Inventories, net	`InventoryNet`	$12.77M	USD	Point-in-time
Inventories, net	`InventoryNet`	$11.56M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$511.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$817.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$119.80M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$112.37M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$6.39M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAssetsNetNoncurrent`	$535.00K	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.33M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$59.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$53.00K	USD	Point-in-time
Total Assets	`Assets`	$125.89M	USD	Point-in-time
Total Assets	`Assets`	$120.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.19M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$3.61M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$4.42M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.84M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.45M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$7.64M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$7.40M	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
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$11.14M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$10.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$100.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$106.16M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$118.25M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$112.75M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$125.89M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$120.14M	USD	Point-in-time

Income Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$55.20M	USD	3 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$19.86M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$10.94M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$30.98M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$8.54M	USD	1 Quarter
Production costs	`CostOfRevenue`	$24.60M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$14.71M	USD	1 Quarter
Production costs	`CostOfRevenue`	$41.33M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$1.04M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$351.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$379.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$1.14M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.95M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.98M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.13M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.70M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$17.07M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$30.77M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$10.60M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$48.42M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$345.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.79M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$210.00K	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$6.78M	USD	3 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$672.00K	USD	3 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$152.00K	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$688.00K	USD	3 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$99.00K	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$567.00K	USD	3 Qtrs
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$464.00K	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$-309.00K	USD	3 Qtrs
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$-77.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$2.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$2.00K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$563.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$77.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$1.26M	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$365.00K	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$422.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.36M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$575.00K	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.04M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.24M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$156.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$221.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$2.72M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$354.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$266.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.32M	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.04	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.56	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.04	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.55	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$354.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$266.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.32M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$318.65M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$335.85M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$334.84M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$317.96M	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$251.00K	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-319.00K	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-796.00K	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$543.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.01M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.05M	USD	3 Qtrs
Net losses on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$-1.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$55.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$35.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$190.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$25.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-164.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$680.00K	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-182.00K	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-7.34M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-586.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.21M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-456.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-306.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$339.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-336.00K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$1.19M	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-810.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-299.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.39M	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-5.59M	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.58M	USD	3 Qtrs
Cash flows (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-270.00K	USD	3 Qtrs
Cash flows (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.93M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$587.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$158.00K	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-587.00K	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-158.00K	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$164.00K	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$29.00K	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$29.00K	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$164.00K	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.38M	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-264.00K	USD	3 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.89M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.19M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$9.57M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$10.89M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$11.15M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$7.19M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$9.57M	USD	Point-in-time

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