10-Q Filing

GENCOR INDUSTRIES INC CIK: 64472 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001193125-18-235807`
Period End Date	20180630
Filing Date	20180802
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	genc-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 57 Cash Flow Statement 53

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$86.97M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$88.99M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$267.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$207.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.93M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.91M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Marketable securities at fair value (cost $88,993,000 at June 30, 2018 and $86,967,000 at September 30, 2017)	`MarketableSecuritiesCurrent`	$87.90M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Marketable securities at fair value (cost $88,993,000 at June 30, 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
Accounts receivable, less allowance for doubtful accounts of $267,000 at June 30, 2018 and $207,000 at September 30, 2017	`AccountsReceivableNetCurrent`	$1.18M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $267,000 at June 30, 2018 and $207,000 at September 30, 2017	`AccountsReceivableNetCurrent`	$1.60M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$8.34M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$6.77M	USD	Point-in-time
Inventories, net	`InventoryNet`	$16.69M	USD	Point-in-time
Inventories, net	`InventoryNet`	$16.24M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.66M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$955.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$139.94M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$137.12M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$5.72M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.03M	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`	$142.89M	USD	Point-in-time
Total Assets	`Assets`	$148.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.09M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$3.75M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$8.63M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.52M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$9.36M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$12.37M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$519.00K	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.60M	USD	Point-in-time
Total Liabilities	`Liabilities`	$13.97M	USD	Point-in-time
Total Liabilities	`Liabilities`	$9.88M	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; 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`	$11.61M	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`	$125.09M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$128.92M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$138.15M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$148.02M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$142.89M	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$62.05M	USD	3 Qtrs
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$78.07M	USD	3 Qtrs
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$24.12M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$23.74M	USD	1 Quarter
Production costs	`CostOfRevenue`	$57.80M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$44.55M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$17.05M	USD	1 Quarter
Production costs	`CostOfRevenue`	$17.70M	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$2.24M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$637.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$1.52M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$781.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.26M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$6.58M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.79M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.18M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$19.95M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$52.65M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$20.66M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$67.83M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$9.40M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$3.46M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.24M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$3.79M	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$399.00K	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$1.07M	USD	3 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$384.00K	USD	3 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$181.00K	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$-503.00K	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$810.00K	USD	3 Qtrs
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$-253.00K	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$-1.06M	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$7.00K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$21.00K	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-72.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$1.19M	USD	3 Qtrs
Other income (expense), net	`NonoperatingIncomeExpense`	$-104.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.26M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.72M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.59M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.35M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$3.19M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.13M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$670.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.47M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.79M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.40M	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.61	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.51	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.60	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.50	USD	3 Qtrs

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$8.79M	USD	3 Qtrs
Net income	`ProfitLoss`	$7.40M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$188.08M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$413.99M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$413.49M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$186.81M	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$692.00K	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-1.26M	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$1.08M	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-6.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$862.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.01M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$65.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$80.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$53.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$54.00K	USD	3 Qtrs
Loss on sale of fixed assets	`GainLossOnDispositionOfAssets`	$-3.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$338.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$495.00K	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-1.57M	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$24.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$3.69M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-443.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$109.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-705.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.77M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$803.00K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-4.88M	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$2.74M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.09M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$98.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$321.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-3.88M	USD	3 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.72M	USD	3 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.91M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$854.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$3.32M	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-854.00K	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.32M	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$381.00K	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$136.00K	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$381.00K	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$136.00K	USD	3 Qtrs
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.00M	USD	3 Qtrs
Net increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.98M	USD	3 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.22M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.22M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.93M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.91M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.22M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.22M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.93M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.91M	USD	Point-in-time

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