10-K Filing

GENCOR INDUSTRIES INC CIK: 64472 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001193125-21-361338`
Period End Date	20210930
Filing Date	20211217
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	d186986d10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 32 Cash Flow Statement 54 Stockholders Equity 13

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$89.51M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$93.69M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$321.00K	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.23M	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 $93,690,000 at September 30, 2021 and $89,514,000 at September 30, 2020)	`MarketableSecuritiesCurrent`	$89.50M	USD	Point-in-time
Marketable securities at fair value (cost of $93,690,000 at September 30, 2021 and $89,514,000 at September 30, 2020)	`MarketableSecuritiesCurrent`	$94.98M	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 $321,000 at September 30, 2021 and $442,000 at September 30, 2020	`AccountsReceivableNetCurrent`	$1.99M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $321,000 at September 30, 2021 and $442,000 at September 30, 2020	`AccountsReceivableNetCurrent`	$2.62M	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`	$1.90M	USD	Point-in-time
Inventories, net	`InventoryNet`	$41.89M	USD	Point-in-time
Inventories, net	`InventoryNet`	$27.09M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.20M	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`	$166.82M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$8.34M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.80M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$995.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$838.00K	USD	Point-in-time
Total Assets	`Assets`	$179.46M	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`	$3.10M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$3.85M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$5.24M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.60M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.65M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$328.00K	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$393.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.39M	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$394.00K	USD	Point-in-time
Deferred and other income taxes	`DeferredTaxAndOtherLiabilitiesNoncurrent`	$746.00K	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$392.00K	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$614.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.87M	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`	$12.59M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$12.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$147.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$153.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$167.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$155.51M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$161.22M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$171.09M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$179.46M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$77.42M	USD	Annual
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$85.28M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$58.47M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$67.10M	USD	Annual
Gross profit	`GrossProfit`	$18.18M	USD	Annual
Gross profit	`GrossProfit`	$18.95M	USD	Annual
Product engineering and development	`ResearchAndDevelopmentExpense`	$3.06M	USD	Annual
Product engineering and development	`ResearchAndDevelopmentExpense`	$4.28M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$10.36M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$13.20M	USD	Annual
Total operating expenses	`OperatingExpenses`	$13.42M	USD	Annual
Total operating expenses	`OperatingExpenses`	$17.48M	USD	Annual
Operating income	`OperatingIncomeLoss`	$701.00K	USD	Annual
Operating income	`OperatingIncomeLoss`	$5.54M	USD	Annual
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$2.32M	USD	Annual
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$1.76M	USD	Annual
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$4.17M	USD	Annual
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$-1.16M	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$-16.00K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Other income (expense),net	`NonoperatingIncomeExpense`	$1.15M	USD	Annual
Other income (expense),net	`NonoperatingIncomeExpense`	$5.93M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.68M	USD	Annual
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.63M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.15M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$829.00K	USD	Annual
Net income	`NetIncomeLoss`	$5.53M	USD	Annual
Net income	`NetIncomeLoss`	$5.80M	USD	Annual
Basic earnings per common share	`EarningsPerShareBasic`	$0.40	USD	Annual
Basic earnings per common share	`EarningsPerShareBasic`	$0.38	USD	Annual
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.39	USD	Annual
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.38	USD	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$5.53M	USD	Annual
Net income	`ProfitLoss`	$5.80M	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$131.63M	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$136.65M	USD	Annual
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$146.12M	USD	Annual
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$134.87M	USD	Annual
Change in value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$3.69M	USD	Annual
Change in value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-1.34M	USD	Annual
Deferred and other income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$451.00K	USD	Annual
Deferred and other income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$2.63M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.64M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.59M	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$50.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$50.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$71.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$680.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$439.00K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$4.50M	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$7.43M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$4.41M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.72M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.01M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$690.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.38M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-179.00K	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$1.39M	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$1.94M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$139.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-55.00K	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.99M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$21.24M	USD	Annual
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.82M	USD	Annual
Cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.77M	USD	Annual
Acquisition of Blaw-Knox assets	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$13.78M	USD	Annual
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.59M	USD	Annual
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.66M	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.44M	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.59M	USD	Annual
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$103.00K	USD	Annual
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$264.00K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$264.00K	USD	Annual
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$103.00K	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-12.35M	USD	Annual
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$25.28M	USD	Annual
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.23M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.58M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.30M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.23M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.58M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssets`	$248.00K	USD	Annual
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssets`	$942.00K	USD	Annual
Operating lease liabilities	`OperatingLeaseLiability`	$248.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiability`	$942.00K	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$167.29M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$161.22M	USD	Point-in-time
Net income	`NetIncomeLoss`	$5.53M	USD	Annual
Net income	`NetIncomeLoss`	$5.80M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$71.00K	USD	Annual
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$103.00K	USD	Annual
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$264.00K	USD	Annual
Stock options exercised, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	20,000.00	shares	Annual
Stock options exercised, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	51,508.00	shares	Annual
Ending balance	`StockholdersEquity`	$167.29M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$155.51M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$161.22M	USD	Point-in-time

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