10-Q Filing

GENCOR INDUSTRIES INC CIK: 64472 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-149771`
Period End Date	20180331
Filing Date	20180503
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	genc-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 58 Cash Flow Statement 53

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$86.97M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$88.52M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$181.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$207.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.22M	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
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Marketable securities at fair value (cost $88,520,000 at March 31, 2018 and $86,967,000 at September 30, 2017)	`MarketableSecuritiesCurrent`	$88.00M	USD	Point-in-time
Marketable securities at fair value (cost $88,520,000 at March 31, 2018 and $86,967,000 at September 30, 2017)	`MarketableSecuritiesCurrent`	$87.89M	USD	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $181,000 at March 31, 2018 and $207,000 at September 30, 2017	`AccountsReceivableNetCurrent`	$1.18M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $181,000 at March 31, 2018 and $207,000 at September 30, 2017	`AccountsReceivableNetCurrent`	$1.83M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$10.93M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$6.77M	USD	Point-in-time
Inventories, net	`InventoryNet`	$15.08M	USD	Point-in-time
Inventories, net	`InventoryNet`	$16.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.66M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$783.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$137.12M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$139.50M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.72M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.78M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$53.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$53.00K	USD	Point-in-time
Total Assets	`Assets`	$147.34M	USD	Point-in-time
Total Assets	`Assets`	$142.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.70M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$5.19M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$8.63M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.41M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$11.30M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$12.37M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.60M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$634.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$13.97M	USD	Point-in-time
Total Liabilities	`Liabilities`	$11.94M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$11.55M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$11.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$116.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$122.41M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$128.92M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$135.41M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$142.89M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$147.34M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueGoodsNet`	$53.95M	USD	2 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$38.31M	USD	2 Qtrs
Net revenue	`SalesRevenueGoodsNet`	$30.83M	USD	1 Quarter
Net revenue	`SalesRevenueGoodsNet`	$22.53M	USD	1 Quarter
Production costs	`CostOfRevenue`	$27.50M	USD	2 Qtrs
Production costs	`CostOfRevenue`	$15.87M	USD	1 Quarter
Production costs	`CostOfRevenue`	$40.10M	USD	2 Qtrs
Production costs	`CostOfRevenue`	$22.06M	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$470.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$1.46M	USD	2 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$886.00K	USD	2 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$758.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.13M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.92M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$5.61M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.32M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$18.47M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$32.70M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$47.17M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$25.74M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.09M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$5.60M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$4.06M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$6.78M	USD	2 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$676.00K	USD	2 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$203.00K	USD	2 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$383.00K	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$162.00K	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$-558.00K	USD	2 Qtrs
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$-719.00K	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$656.00K	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$1.06M	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$3.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$7.00K	USD	2 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$1.27M	USD	2 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-333.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$125.00K	USD	2 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$818.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.91M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.87M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.88M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.76M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$994.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$797.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.46M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.06M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.81M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.11M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.42M	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.42	USD	2 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.33	USD	2 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.26	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.23	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.41	USD	2 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.33	USD	2 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.26	USD	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.76M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.81M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$6.11M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.42M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$140.03M	USD	2 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$306.74M	USD	2 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$139.28M	USD	2 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$306.34M	USD	2 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-639.00K	USD	2 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$861.00K	USD	2 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-108.00K	USD	2 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$967.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$605.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$648.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$50.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$36.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$36.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$646.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$632.00K	USD	2 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-4.16M	USD	2 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$3.24M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$2.96M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.61M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-877.00K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-309.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.38M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.70M	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-3.44M	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$2.79M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-15.00K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$350.00K	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-3.79M	USD	2 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$4.33M	USD	2 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$9.14M	USD	2 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.32M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.71M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$420.00K	USD	2 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.71M	USD	2 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-420.00K	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$340.00K	USD	2 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$98.00K	USD	2 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$98.00K	USD	2 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$340.00K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-50.00K	USD	2 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.82M	USD	2 Qtrs
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.88M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$27.04M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.93M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.22M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$22.88M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$27.04M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$22.93M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$18.22M	USD	Point-in-time

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