10-Q Filing

GENCOR INDUSTRIES INC CIK: 64472 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001193125-19-024464`
Period End Date	20181231
Filing Date	20190201
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	genc-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 29 Cash Flow Statement 49 Stockholders Equity 13

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$103.75M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$106.56M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$278.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$313.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.27M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.01M	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 $106,563,000 at December 31, 2018 and $103,751,000 at September 30, 2018)	`MarketableSecuritiesCurrent`	$104.44M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Marketable securities at fair value (cost $106,563,000 at December 31, 2018 and $103,751,000 at September 30, 2018)	`MarketableSecuritiesCurrent`	$104.06M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.10	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $278,000 at December 31, 2018 and $313,000 at September 30, 2018	`AccountsReceivableNetCurrent`	$993.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.10	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $278,000 at December 31, 2018 and $313,000 at September 30, 2018	`AccountsReceivableNetCurrent`	$1.50M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$11.90M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$13.32M	USD	Point-in-time
Inventories, net	`InventoryNet`	$20.23M	USD	Point-in-time
Inventories, net	`InventoryNet`	$18.21M	USD	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.90M	USD	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.58M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$145.34M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$145.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.89M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.16M	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`	$153.56M	USD	Point-in-time
Total Assets	`Assets`	$153.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.59M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$4.56M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$3.40M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.19M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.18M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.36M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.84M	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`	$11.88M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$11.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$128.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$129.18M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$128.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$131.55M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$142.18M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$142.51M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$153.02M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$153.56M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$21.33M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$23.12M	USD	1 Quarter
Production costs	`CostOfRevenue`	$16.41M	USD	1 Quarter
Production costs	`CostOfRevenue`	$18.04M	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$723.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$700.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.69M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$19.32M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$21.43M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.69M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.00M	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$534.00K	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$293.00K	USD	1 Quarter
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$-2.15M	USD	1 Quarter
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$161.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$4.00K	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$-1.61M	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$458.00K	USD	1 Quarter
Income before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.15M	USD	1 Quarter
Income before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$391.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-197.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$78.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$313.00K	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$2.35M	USD	1 Quarter
Net income	`ProfitLoss`	$313.00K	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$53.51M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$68.44M	USD	1 Quarter
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$53.18M	USD	1 Quarter
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$66.00M	USD	1 Quarter
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-2.06M	USD	1 Quarter
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$118.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$726.00K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$485.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$386.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$300.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$25.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$18.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$17.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$532.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$133.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$1.04M	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$-1.42M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.02M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$238.00K	USD	1 Quarter
Prepaid expenses & other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-322.00K	USD	1 Quarter
Prepaid expenses & other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-410.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.75M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.17M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.31M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$104.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$373.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.27M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-3.40M	USD	1 Quarter
Cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.62M	USD	1 Quarter
Cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.08M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.95M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$661.00K	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-661.00K	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.95M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$267.00K	USD	1 Quarter
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$267.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.93M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.74M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.27M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.86M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.93M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.27M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.86M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.93M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$128.92M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$131.55M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$142.18M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$142.51M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$313.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$17.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$267.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$128.92M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$131.55M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$142.18M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$142.51M	USD	Point-in-time

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