10-Q Filing

TAYLOR DEVICES, INC. CIK: 96536 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001376474-23-000443`
Period End Date	20230831
Filing Date	20230929
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	tayd-20230831_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 22 Cash Flow Statement 44 Stockholders Equity 8

Balance Sheet 43 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.58M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$24.51M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$27.81M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$5.40M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$5.55M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$6.83M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$5.94M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$4.12M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$3.39M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$668.55K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$439.02K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$46.76M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.03M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.69M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.72M	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$210.12K	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$211.25K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$568.62K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$568.62K	USD	Point-in-time
Assets	`Assets`	$60.27M	USD	Point-in-time
Assets	`Assets`	$57.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.72M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.08M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.46M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$4.81M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$1.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.33M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.79M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.07M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$43.98M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$3.08M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$3.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$44.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$50.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$51.94M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$60.27M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$57.88M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$9.92M	USD	1 Quarter
Sales, net	`Revenues`	$9.09M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.60M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.38M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.49M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$129.07K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$375.35K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.94M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.34M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.92M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.18M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$361.32K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$40.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.28M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.22M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$433.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$216.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$0.52	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$0.29	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$455.48K	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$317.79K	USD	1 Quarter
Accounts and other receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-149.75K	USD	1 Quarter
Accounts and other receivables, net	`IncreaseDecreaseInAccountsReceivable`	$1.37M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$918.51K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-57.87K	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$-735.21K	USD	1 Quarter
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$-503.94K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-229.53K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-285.88K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$22.11K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-666.20K	USD	1 Quarter
Accrued Expenses	`IncreaseDecreaseInOtherCurrentLiabilities`	$-1.62M	USD	1 Quarter
Accrued Expenses	`IncreaseDecreaseInOtherCurrentLiabilities`	$-1.35M	USD	1 Quarter
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$2.82M	USD	1 Quarter
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$491.33K	USD	1 Quarter
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.89K	USD	1 Quarter
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.04M	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$427.65K	USD	1 Quarter
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$833.46K	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireOtherInvestments`	$3.30M	USD	1 Quarter
Purchase of short-term investments	`PaymentsToAcquireOtherInvestments`	-	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$1.13K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$1.14K	USD	1 Quarter
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-834.60K	USD	1 Quarter
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.73M	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$18.68K	USD	1 Quarter
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$35.29K	USD	1 Quarter
Acquisition of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	-	USD	1 Quarter
Acquisition of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	$15.80K	USD	1 Quarter
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.88K	USD	1 Quarter
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$35.29K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-685.76K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-830.20K	USD	1 Quarter
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.69M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.89M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.58M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.69M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.89M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.58M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52M	USD	Point-in-time

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Equity, Attributable to Parent, Beginning Balance	`StockholdersEquity`	$44.29M	USD	Point-in-time
Equity, Attributable to Parent, Beginning Balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Equity, Attributable to Parent, Beginning Balance	`StockholdersEquity`	$51.94M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$44.29M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$51.94M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	1 Quarter

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