10-Q Filing

GENCOR INDUSTRIES INC CIK: 64472 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001193125-20-020487`
Period End Date	20191231
Filing Date	20200131
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	genc-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 29 Cash Flow Statement 48 Stockholders Equity 12

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$104.90M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$104.18M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$459.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$476.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.34M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.10	USD	Point-in-time
Marketable securities at fair value (cost $104,896,000 at December 31, 2019 and $104,176,000 at September 30, 2019)	`MarketableSecuritiesCurrent`	$107.23M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Marketable securities at fair value (cost $104,896,000 at December 31, 2019 and $104,176,000 at September 30, 2019)	`MarketableSecuritiesCurrent`	$105.32M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $476,000 at December 31, 2019 and $459,000 at September 30, 2019	`AccountsReceivableNetCurrent`	$1.60M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $476,000 at December 31, 2019 and $459,000 at September 30, 2019	`AccountsReceivableNetCurrent`	$1.66M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$13.38M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$13.84M	USD	Point-in-time
Inventories, net	`InventoryNet`	$25.69M	USD	Point-in-time
Inventories, net	`InventoryNet`	$25.37M	USD	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseCurrent`	$499.00K	USD	Point-in-time
Prepaid expenses & other current assets	`PrepaidExpenseCurrent`	$1.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$156.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$163.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.39M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$7.98M	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`	$171.79M	USD	Point-in-time
Total Assets	`Assets`	$165.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.71M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.92M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$4.92M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.66M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.06M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.37M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.86M	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
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$12.18M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$12.16M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$141.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$144.39M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$145.35M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$155.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$158.02M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$145.02M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$165.37M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$171.79M	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`	$18.03M	USD	1 Quarter
Production costs	`CostOfRevenue`	$13.71M	USD	1 Quarter
Production costs	`CostOfRevenue`	$16.41M	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$723.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$766.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.38M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$16.86M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$19.32M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.17M	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$534.00K	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$632.00K	USD	1 Quarter
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$1.32M	USD	1 Quarter
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$-2.15M	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-10.00K	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$-1.61M	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$1.94M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$391.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.11M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$78.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$622.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$313.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.49M	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$313.00K	USD	1 Quarter
Net income	`ProfitLoss`	$2.49M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$68.44M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$35.31M	USD	1 Quarter
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$66.00M	USD	1 Quarter
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$34.66M	USD	1 Quarter
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-2.06M	USD	1 Quarter
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$1.26M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$1.66M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$485.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$418.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$386.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$25.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$17.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$18.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$59.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$532.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$455.00K	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`	$325.00K	USD	1 Quarter
Prepaid expenses & other current assets	`IncreaseDecreaseInPrepaidExpense`	$955.00K	USD	1 Quarter
Prepaid expenses & other current assets	`IncreaseDecreaseInPrepaidExpense`	$-322.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.75M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$807.00K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$3.00M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.17M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.76M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$104.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.56M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-3.40M	USD	1 Quarter
Cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.05M	USD	1 Quarter
Cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.08M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$661.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.00K	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-661.00K	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.74M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.04M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.27M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.34M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.27M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.34M	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$145.35M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$158.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$145.02M	USD	Point-in-time
Net income	`NetIncomeLoss`	$313.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.49M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$17.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$145.35M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$158.02M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$145.02M	USD	Point-in-time

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