10-Q Filing

GENCOR INDUSTRIES INC CIK: 64472 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001193125-21-040375`
Period End Date	20201231
Filing Date	20210212
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	d105739d10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 31 Cash Flow Statement 48 Stockholders Equity 11

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$90.16M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$89.51M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$442.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$360.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.96M	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
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 of $90,158,000 at December 31, 2020 and $89,514,000 at September 30, 2020)	`MarketableSecuritiesCurrent`	$89.50M	USD	Point-in-time
Marketable securities at fair value (cost of $90,158,000 at December 31, 2020 and $89,514,000 at September 30, 2020)	`MarketableSecuritiesCurrent`	$92.05M	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 $360,000 at December 31, 2020 and $442,000 at September 30, 2020	`AccountsReceivableNetCurrent`	$1.99M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $360,000 at December 31, 2020 and $442,000 at September 30, 2020	`AccountsReceivableNetCurrent`	$2.76M	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`	$4.71M	USD	Point-in-time
Inventories, net	`InventoryNet`	$35.47M	USD	Point-in-time
Inventories, net	`InventoryNet`	$27.09M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.11M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$160.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$161.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$12.09M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.34M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$1.16M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$995.00K	USD	Point-in-time
Total Assets	`Assets`	$173.31M	USD	Point-in-time
Total Assets	`Assets`	$171.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.73M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.22M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$2.70M	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`	$2.39M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$328.00K	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$420.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.51M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$746.00K	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$1.13M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$614.00K	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$686.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.87M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.54M	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`	$12.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$148.98M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$147.43M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$158.02M	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 shareholders' equity	`StockholdersEquity`	$162.77M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$171.09M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$173.31M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.96M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$18.03M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$15.98M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$13.71M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.98M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.32M	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$766.00K	USD	1 Quarter
Product engineering and development	`ResearchAndDevelopmentExpense`	$845.00K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.38M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.19M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.15M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$1.17M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-1.06M	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$804.00K	USD	1 Quarter
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$632.00K	USD	1 Quarter
Realized and unrealized gains on marketable securities, net	`MarketableSecuritiesGainLoss`	$1.32M	USD	1 Quarter
Realized and unrealized gains on marketable securities, net	`MarketableSecuritiesGainLoss`	$2.19M	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-10.00K	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$1.94M	USD	1 Quarter
Other income (expense),net	`NonoperatingIncomeExpense`	$3.00M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.11M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.94M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$622.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$388.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.49M	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$0.17	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$2.49M	USD	1 Quarter
Net income	`ProfitLoss`	$1.55M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$33.19M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$35.31M	USD	1 Quarter
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$34.66M	USD	1 Quarter
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$32.68M	USD	1 Quarter
Change in value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$1.26M	USD	1 Quarter
Change in value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$2.04M	USD	1 Quarter
Deferred and other income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-382.00K	USD	1 Quarter
Deferred and other income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$1.66M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$418.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$586.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$18.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$59.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$772.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$1.70M	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$455.00K	USD	1 Quarter
Inventories (excluding the effect of the Blaw-Knox acquisition)	`IncreaseDecreaseInInventories`	$-2.62M	USD	1 Quarter
Inventories (excluding the effect of the Blaw-Knox acquisition)	`IncreaseDecreaseInInventories`	$325.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-75.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$955.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$807.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.50M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$-1.16M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$3.00M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-219.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$1.76M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$1.56M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$2.15M	USD	1 Quarter
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.71M	USD	1 Quarter
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.05M	USD	1 Quarter
Acquisition of Blaw-Knox	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$14.40M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$932.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$6.00K	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.33M	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-11.63M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.04M	USD	1 Quarter
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.58M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.96M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.34M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.58M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.96M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.34M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssets`	$254.00K	USD	1 Quarter
Operating lease liabilities	`OperatingLeaseLiability`	$254.00K	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$158.02M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$161.22M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$162.77M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.49M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$18.00K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$158.02M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$161.22M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$162.77M	USD	Point-in-time

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