10-K Filing

GENCOR INDUSTRIES INC CIK: 64472 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001193125-23-294347`
Period End Date	20230930
Filing Date	20231213
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	d551240d10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 32 Cash Flow Statement 47 Stockholders Equity 8

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Marketable securities, cost	`MarketableSecurities`	$94.88M	USD	Point-in-time
Marketable securities, cost	`MarketableSecurities`	$85.51M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$321.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$545.00K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$370.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$10.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.03M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Marketable securities at fair value (cost of $85,514,000 at September 30, 2023 and $94,879,000 at September 30, 2022)	`MarketableSecuritiesCurrent`	$89.30M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	300,000.00	shares	Point-in-time
Marketable securities at fair value (cost of $85,514,000 at September 30, 2023 and $94,879,000 at September 30, 2022)	`MarketableSecuritiesCurrent`	$84.25M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $545,000 at September 30, 2023 and $370,000 at September 30, 2022	`AccountsReceivableNetCurrent`	$2.47M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $545,000 at September 30, 2023 and $370,000 at September 30, 2022	`AccountsReceivableNetCurrent`	$3.00M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$1.51M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsCurrent`	$2.12M	USD	Point-in-time
Inventories, net	`InventoryNet`	$71.53M	USD	Point-in-time
Inventories, net	`InventoryNet`	$55.81M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.67M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$162.48M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$178.95M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$13.49M	USD	Point-in-time
Deferred and other income taxes	`DeferredIncomeTaxesAndOtherTaxReceivableNonCurrent`	$3.17M	USD	Point-in-time
Deferred and other income taxes	`DeferredIncomeTaxesAndOtherTaxReceivableNonCurrent`	$2.89M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$450.00K	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$381.00K	USD	Point-in-time
Total Assets	`Assets`	$179.31M	USD	Point-in-time
Total Assets	`Assets`	$195.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.25M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$6.82M	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$5.86M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.75M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.89M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$390.00K	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$328.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.39M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$6.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.16M	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`	$12.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$152.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$167.53M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$181.58M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$167.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$166.92M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$179.31M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$195.75M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$105.08M	USD	Annual
Net revenue	`RevenueFromContractWithCustomerIncludingAssessedTax`	$103.48M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$76.04M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$82.94M	USD	Annual
Gross profit	`GrossProfit`	$29.04M	USD	Annual
Gross profit	`GrossProfit`	$20.54M	USD	Annual
Product engineering and development	`ResearchAndDevelopmentExpense`	$4.33M	USD	Annual
Product engineering and development	`ResearchAndDevelopmentExpense`	$3.46M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.15M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$12.05M	USD	Annual
Total operating expenses	`OperatingExpenses`	$15.61M	USD	Annual
Total operating expenses	`OperatingExpenses`	$16.38M	USD	Annual
Operating income	`OperatingIncomeLoss`	$4.17M	USD	Annual
Operating income	`OperatingIncomeLoss`	$13.43M	USD	Annual
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$2.11M	USD	Annual
Interest and dividend income, net of fees	`InvestmentIncomeNet`	$1.30M	USD	Annual
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$3.24M	USD	Annual
Realized and unrealized gains (losses) on marketable securities, net	`MarketableSecuritiesGainLoss`	$-7.01M	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$-156.00K	USD	Annual
Other income (expense),net	`NonoperatingIncomeExpense`	$5.35M	USD	Annual
Other income (expense),net	`NonoperatingIncomeExpense`	$-5.86M	USD	Annual
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.78M	USD	Annual
Income (loss) before income tax expense (benefit)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.69M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-1.32M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$4.11M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-372.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$14.67M	USD	Annual
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$1.00	USD	Annual
Basic earnings (loss) per common share	`EarningsPerShareBasic`	$-0.03	USD	Annual
Basic earnings (loss) per common share	`EarningsPerShareDiluted`	$1.00	USD	Annual
Basic earnings (loss) per common share	`EarningsPerShareDiluted`	$-0.03	USD	Annual

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$14.67M	USD	Annual
Net income (loss)	`ProfitLoss`	$-372.00K	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$172.34M	USD	Annual
Purchase of marketable securities	`PaymentsToAcquireMarketableSecurities`	$135.55M	USD	Annual
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$180.28M	USD	Annual
Proceeds from sale and maturity of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$133.97M	USD	Annual
Change in value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$2.90M	USD	Annual
Change in value of marketable securities	`IncreaseDecreaseInTradingSecurities`	$-7.26M	USD	Annual
Deferred and other income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$3.29M	USD	Annual
Deferred and other income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$274.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.82M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.83M	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$194.00K	USD	Annual
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$290.00K	USD	Annual
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-157.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-239.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$568.00K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$-215.00K	USD	Annual
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInCostAndEstimatedEarningsInExcessOfBilling`	$610.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$15.71M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$13.93M	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-500.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$467.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-982.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.15M	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$620.00K	USD	Annual
Customer deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$951.00K	USD	Annual
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-758.00K	USD	Annual
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$1.87M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-4.47M	USD	Annual
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-8.76M	USD	Annual
Cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.13M	USD	Annual
Cash flows provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.20M	USD	Annual
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.75M	USD	Annual
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$4.52M	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.75M	USD	Annual
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.52M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.45M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-13.65M	USD	Annual
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.23M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.03M	USD	Point-in-time
Beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.58M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.23M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.03M	USD	Point-in-time
End of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$9.58M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAssets`	$352.00K	USD	Annual
Operating lease liabilities	`OperatingLeaseLiabilitiesIncurredDuringThePeriod`	$352.00K	USD	Annual

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$181.58M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$167.29M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$166.92M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-372.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$14.67M	USD	Annual
Ending balance	`StockholdersEquity`	$181.58M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$167.29M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$166.92M	USD	Point-in-time

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