10-K Filing

GENCOR INDUSTRIES INC CIK: 64472 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001193125-20-320959`
Period End Date	20200930
Filing Date	20201218
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	d46502d10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 31 Cash Flow Statement 53 Stockholders Equity 14

Balance Sheet 58 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$104.18M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$89.51M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$459.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$442.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$313.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.58M	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
Marketable securities at fair value (cost of $89,514,000 at September 30, 2020 and $104,176,000 at September 30, 2019)	`MarketableSecuritiesCurrent`	$89.50M	USD	Point-in-time
Marketable securities at fair value (cost of $89,514,000 at September 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 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 $442,000 at September 30, 2020 and $459,000 at September 30, 2019	`AccountsReceivableNetCurrent`	$1.60M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $442,000 at September 30, 2020 and $459,000 at September 30, 2019	`AccountsReceivableNetCurrent`	$1.99M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$6.41M	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`	$27.09M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$499.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$161.76M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$156.93M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.39M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.34M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$53.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$995.00K	USD	Point-in-time
Total Assets	`Assets`	$165.37M	USD	Point-in-time
Total Assets	`Assets`	$171.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.73M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$1.92M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$3.85M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.60M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.66M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$328.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.51M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$3.37M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$746.00K	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$614.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.87M	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`	$12.33M	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`	$147.43M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$145.02M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$161.22M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$155.51M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$165.37M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$171.09M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$81.33M	USD	Annual
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$77.42M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$58.92M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$58.47M	USD	Annual
Gross profit	`GrossProfit`	$22.41M	USD	Annual
Gross profit	`GrossProfit`	$18.95M	USD	Annual
Product engineering and development	`ResearchAndDevelopmentExpense`	$3.29M	USD	Annual
Product engineering and development	`ResearchAndDevelopmentExpense`	$3.06M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$9.65M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.36M	USD	Annual
Total operating expenses	`OperatingExpenses`	$13.42M	USD	Annual
Total operating expenses	`OperatingExpenses`	$12.94M	USD	Annual
Operating income	`OperatingIncomeLoss`	$5.54M	USD	Annual
Operating income	`OperatingIncomeLoss`	$9.47M	USD	Annual
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$2.31M	USD	Annual
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$2.32M	USD	Annual
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$-1.16M	USD	Annual
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$1.05M	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$-16.00K	USD	Annual
Other income (expense),net	`NonoperatingIncomeExpense`	$3.35M	USD	Annual
Other income (expense),net	`NonoperatingIncomeExpense`	$1.15M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.68M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$12.82M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.15M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$2.63M	USD	Annual
Net income	`NetIncomeLoss`	$10.20M	USD	Annual
Net income	`NetIncomeLoss`	$5.53M	USD	Annual
Basic earnings per common share	`EarningsPerShareBasic`	$0.38	USD	Annual
Basic earnings per common share	`EarningsPerShareBasic`	$0.70	USD	Annual
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.38	USD	Annual
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.69	USD	Annual

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$5.53M	USD	Annual
Net income	`ProfitLoss`	$10.20M	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$131.63M	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$188.07M	USD	Annual
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$188.05M	USD	Annual
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$146.12M	USD	Annual
Change in value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-1.34M	USD	Annual
Change in value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$1.25M	USD	Annual
Deferred and other income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$2.63M	USD	Annual
Deferred and other income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-732.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.60M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.64M	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$50.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$175.00K	USD	Annual
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-4.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$71.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$71.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$439.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$785.00K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$7.43M	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$-1.94M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.48M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.72M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-849.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$690.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-179.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$69.00K	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$1.94M	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.65M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$575.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-55.00K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$21.24M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-6.03M	USD	Annual
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.77M	USD	Annual
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.16M	USD	Annual
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.10M	USD	Annual
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.59M	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.59M	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.10M	USD	Annual
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$231.00K	USD	Annual
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$103.00K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$231.00K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$103.00K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.29M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$25.28M	USD	Annual
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.58M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.58M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.01M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssets`	$942.00K	USD	Annual
Operating lease liabilities	`OperatingLeaseLiability`	$942.00K	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$145.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$161.22M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Net income	`NetIncomeLoss`	$10.20M	USD	Annual
Net income	`NetIncomeLoss`	$5.53M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$71.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$71.00K	USD	Annual
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$231.00K	USD	Annual
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$103.00K	USD	Annual
Stock options exercised, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	20,000.00	shares	Annual
Stock options exercised, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	45,000.00	shares	Annual
Ending balance	`StockholdersEquity`	$145.02M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$161.22M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$155.51M	USD	Point-in-time

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