10-Q Filing

TAYLOR DEVICES, INC. CIK: 96536 Q2 2024

Filing Information

Form Type	10-Q
Accession Number	`0001376474-24-000023`
Period End Date	20231130
Filing Date	20240110
Fiscal Year	2024
Fiscal Period	Q2
XBRL Instance	tayd-20231130_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 44 Cash Flow Statement 50 Stockholders Equity 10

Balance Sheet 43 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.58M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$31.75M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$24.51M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$5.55M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$4.07M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$5.94M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$6.86M	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`	$1.72M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$396.95K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$668.55K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.96M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.38M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.31M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.36M	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`	$239.96K	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`	$61.43M	USD	Point-in-time
Assets	`Assets`	$57.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.72M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.03M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.08M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$3.01M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$1.99M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.21M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.05M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.37M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$45.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.13M	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`	$50.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$54.23M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$45.98M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$57.88M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$61.43M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$10.50M	USD	1 Quarter
Sales, net	`Revenues`	$10.34M	USD	1 Quarter
Sales, net	`Revenues`	$20.26M	USD	2 Qtrs
Sales, net	`Revenues`	$19.59M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.53M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$11.73M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$6.13M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$11.07M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.86M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.20M	USD	2 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$690.65K	USD	2 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$315.30K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$84.08K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$213.16K	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.67M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$5.01M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.30M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$4.23M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$3.97M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$2.05M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.93M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.76M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$760.01K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$153.04K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$398.69K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$193.04K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.45M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.13M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.73M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.91M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$904.00K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$471.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$350.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$566.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.98M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.83M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.56M	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$0.56	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$0.45	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$1.09	USD	2 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$0.73	USD	2 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.98M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.83M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.56M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$910.96K	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$635.58K	USD	2 Qtrs
Stock options issued for services	`IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption`	$-301.31K	USD	2 Qtrs
Stock options issued for services	`IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption`	$-128.44K	USD	2 Qtrs
Accounts and other receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-1.48M	USD	2 Qtrs
Accounts and other receivables, net	`IncreaseDecreaseInAccountsReceivable`	$1.47M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-393.92K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.22M	USD	2 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$1.96M	USD	2 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$-2.40M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$186.07K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-271.61K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-549.72K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$110.35K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInOtherCurrentLiabilities`	$-326.70K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInOtherCurrentLiabilities`	$-1.05M	USD	2 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$1.01M	USD	2 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-32.88K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$27.34K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	2 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-148.43K	USD	2 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.36M	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$544.80K	USD	2 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.39M	USD	2 Qtrs
Purchase of short-term investments	`PaymentsToAcquireOtherInvestments`	$7.23M	USD	2 Qtrs
Purchase of short-term investments	`PaymentsToAcquireOtherInvestments`	-	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$2.52K	USD	2 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$2.49K	USD	2 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.78M	USD	2 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.39M	USD	2 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$37.89K	USD	2 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$20.88K	USD	2 Qtrs
Acquisition of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	$15.80K	USD	2 Qtrs
Acquisition of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	-	USD	2 Qtrs
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$37.89K	USD	2 Qtrs
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.08K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.50M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-414.15K	USD	2 Qtrs
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.01M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.58M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.16M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.01M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.58M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.16M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52M	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Equity, Attributable to Parent, Beginning Balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Equity, Attributable to Parent, Beginning Balance	`StockholdersEquity`	$54.23M	USD	Point-in-time
Equity, Attributable to Parent, Beginning Balance	`StockholdersEquity`	$45.98M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$54.23M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$45.98M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.98M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.83M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$2.56M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.56M	USD	1 Quarter

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