10-Q Filing

GENCOR INDUSTRIES INC CIK: 64472 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001193125-19-211530`
Period End Date	20190630
Filing Date	20190802
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	genc-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 61 Cash Flow Statement 51 Stockholders Equity 33

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$104.56M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$103.75M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$341.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$313.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.43M	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
Marketable securities at fair value (cost $104,556,000 at June 30, 2019 and $103,751,000 at September 30, 2018)	`MarketableSecuritiesCurrent`	$104.77M	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
Marketable securities at fair value (cost $104,556,000 at June 30, 2019 and $103,751,000 at September 30, 2018)	`MarketableSecuritiesCurrent`	$104.06M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $341,000 at June 30, 2019 and $313,000 at September 30, 2018	`AccountsReceivableNetCurrent`	$1.48M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $341,000 at June 30, 2019 and $313,000 at September 30, 2018	`AccountsReceivableNetCurrent`	$993.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$20.52M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$11.90M	USD	Point-in-time
Inventories, net	`InventoryNet`	$20.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$18.21M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$945.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$145.08M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$154.15M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.89M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.30M	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`	$162.50M	USD	Point-in-time
Total Assets	`Assets`	$153.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.84M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$4.56M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$2.46M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.66M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.72M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.36M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.05M	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; 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`	$11.91M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$11.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$139.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$128.86M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$149.99M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$131.55M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$142.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$128.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$152.45M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$135.41M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$142.18M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$138.15M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$162.50M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$153.02M	USD	Point-in-time

Income Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$24.12M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.85M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$66.84M	USD	3 Qtrs
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$78.07M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$14.10M	USD	1 Quarter
Production costs	`CostOfRevenue`	$57.80M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$47.27M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$17.70M	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$2.43M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$881.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$781.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$2.24M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.18M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.79M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.47M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.13M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$67.83M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$17.45M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$56.83M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$20.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.46M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.24M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$1.40M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$10.02M	USD	3 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$567.00K	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`	$1.61M	USD	3 Qtrs
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$1.09M	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`	$1.15M	USD	3 Qtrs
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`	$1.66M	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$2.75M	USD	3 Qtrs
Other income (expense),net	`NonoperatingIncomeExpense`	$-104.00K	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$21.00K	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.06M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.26M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.77M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.35M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$611.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.55M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.47M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$670.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.79M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.22M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$313.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.76M	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`	$0.70	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.60	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.69	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$10.22M	USD	3 Qtrs
Net income	`ProfitLoss`	$8.79M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$152.06M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$188.08M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$186.81M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$152.68M	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-1.26M	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$1.32M	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$25.00K	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$1.08M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.01M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.19M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$80.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$100.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$53.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$53.00K	USD	3 Qtrs
Loss on sale of fixed assets	`GainLossOnDispositionOfAssets`	$-3.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$495.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$589.00K	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$-8.62M	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$-1.57M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.78M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-443.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-959.00K	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`	$756.00K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-4.88M	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.10M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$577.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$98.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-10.19M	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-3.88M	USD	3 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.00K	USD	3 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.91M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$3.32M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.60M	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.60M	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
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$381.00K	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.98M	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.58M	USD	3 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.43M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.91M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.93M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.43M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.91M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.93M	USD	Point-in-time

Stockholders Equity 33 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$149.99M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$131.55M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$142.51M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$128.92M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$152.45M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$135.41M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$142.18M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$138.15M	USD	Point-in-time
Net income	`NetIncomeLoss`	$8.79M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.22M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$313.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.76M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	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`	$74.00K	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$267.00K	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$40.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$149.99M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$131.55M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$142.51M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$128.92M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$152.45M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$135.41M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$142.18M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$138.15M	USD	Point-in-time

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