10-Q/A Filing

GENCOR INDUSTRIES INC CIK: 64472 Q3 2020

Filing Information

Form Type	10-Q/A
Accession Number	`0001193125-20-214037`
Period End Date	20200630
Filing Date	20200810
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	d97451d10qa_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 64 Cash Flow Statement 50 Stockholders Equity 31

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$105.39M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$104.18M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$419.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$459.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.56M	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
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 $105,388,000 at June 30, 2020 and $104,176,000 at September 30, 2019)	`MarketableSecuritiesCurrent`	$105.67M	USD	Point-in-time
Marketable securities at fair value (cost $105,388,000 at June 30, 2020 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
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 $419,000 at June 30, 2020 and $459,000 at September 30, 2019	`AccountsReceivableNetCurrent`	$1.61M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $419,000 at June 30, 2020 and $459,000 at September 30, 2019	`AccountsReceivableNetCurrent`	$1.60M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$10.06M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$13.84M	USD	Point-in-time
Inventories, net	`InventoryNet`	$25.37M	USD	Point-in-time
Inventories, net	`InventoryNet`	$24.56M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$499.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$1.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$156.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$162.12M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.39M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.39M	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`	$165.37M	USD	Point-in-time
Total Assets	`Assets`	$170.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.91M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$2.65M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.92M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.66M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$2.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.43M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$1.31M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$3.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$8.74M	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; 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`	$12.16M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$12.31M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$141.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$148.05M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$161.83M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$155.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$155.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$152.82M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$145.02M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$145.35M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$158.02M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$157.38M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$165.37M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$170.57M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.85M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$22.94M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$66.96M	USD	3 Qtrs
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$66.84M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$17.55M	USD	1 Quarter
Production costs	`CostOfRevenue`	$14.10M	USD	1 Quarter
Production costs	`CostOfRevenue`	$49.92M	USD	3 Qtrs
Production costs	`CostOfRevenue`	$47.27M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$2.30M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$2.43M	USD	3 Qtrs
Product engineering and development	`ResearchAndDevelopmentExpense`	$849.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$881.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.13M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$7.46M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.47M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.52M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$17.45M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$20.93M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$59.69M	USD	3 Qtrs
Total operating expenses	`CostsAndExpenses`	$56.83M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$2.01M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.27M	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`	$1.91M	USD	3 Qtrs
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$512.00K	USD	1 Quarter
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`	$2.89M	USD	1 Quarter
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$-1.47M	USD	3 Qtrs
Net realized and unrealized gains (losses) on marketable securities	`MarketableSecuritiesGainLoss`	$1.15M	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$-10.00K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	-	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-20.00K	USD	3 Qtrs
Other income (expense),net	`NonoperatingIncomeExpense`	$1.66M	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$3.39M	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$422.00K	USD	3 Qtrs
Other income (expense),net	`NonoperatingIncomeExpense`	$2.75M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.77M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.40M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.70M	USD	3 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.06M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.08M	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`	$1.54M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$-655.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.16M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$313.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.22M	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Net income per share	`EarningsPerShareBasic`	$0.42	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.70	USD	3 Qtrs
Net income per share	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.42	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.69	USD	3 Qtrs
Net income per share	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Net income per share	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$6.16M	USD	3 Qtrs
Net income	`ProfitLoss`	$10.22M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$112.67M	USD	3 Qtrs
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$152.06M	USD	3 Qtrs
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$110.81M	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`	$1.32M	USD	3 Qtrs
Change in fair value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-1.51M	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$2.07M	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$25.00K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.19M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.24M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$50.00K	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
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$589.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$56.00K	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`	$3.77M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-804.00K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.78M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-959.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.15M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$182.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$756.00K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$733.00K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.10M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$34.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$577.00K	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$3.25M	USD	3 Qtrs
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-10.19M	USD	3 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$23.00K	USD	3 Qtrs
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.40M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.60M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.25M	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.25M	USD	3 Qtrs
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.60M	USD	3 Qtrs
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$103.00K	USD	3 Qtrs
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$103.00K	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.58M	USD	3 Qtrs
Net increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$8.26M	USD	3 Qtrs
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.56M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.43M	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`	$18.56M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.43M	USD	Point-in-time

Stockholders Equity 31 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$161.83M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$155.29M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$152.82M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$145.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$145.35M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$158.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$157.38M	USD	Point-in-time
Net income	`NetIncomeLoss`	$-655.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.16M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$313.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$7.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.49M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$10.22M	USD	3 Qtrs
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-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$17.00K	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$103.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$161.83M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$155.29M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$152.82M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$145.02M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$145.35M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$158.02M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$157.38M	USD	Point-in-time

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