10-Q Filing

TAYLOR DEVICES, INC. CIK: 96536 Q3 2024

Filing Information

Form Type	10-Q
Accession Number	`0001376474-24-000142`
Period End Date	20240229
Filing Date	20240328
Fiscal Year	2024
Fiscal Period	Q3
XBRL Instance	tayd-20240229_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 45 Income Statement 44 Cash Flow Statement 56 Stockholders Equity 10

Balance Sheet 45 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.06M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$21.57M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$24.51M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$4.89M	USD	Point-in-time
Accounts and other receivables, net	`AccountsAndOtherReceivablesNetCurrent`	$5.55M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$6.68M	USD	Point-in-time
Inventory	`InventoryPartsAndComponentsNetOfReserves`	$5.94M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$4.53M	USD	Point-in-time
Costs and estimated earnings in excess of billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$4.12M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$464.75K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$668.55K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.19M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.36M	USD	Point-in-time
Maintenance and other inventory, net	`OtherInventoryNoncurrent`	$1.00M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.72M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.14M	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	-	USD	Point-in-time
Patents, net	`FiniteLivedIntangibleAssetsNet`	$298.15K	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$241.05K	USD	Point-in-time
Other assets	`OtherAssetsMiscellaneousNoncurrent`	$210.12K	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`	$57.88M	USD	Point-in-time
Assets	`Assets`	$54.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$955.84K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.08M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.04M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$1.99M	USD	Point-in-time
Billings in excess of costs and estimated earnings	`BillingsInExcessOfCostCurrent`	$1.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.79M	USD	Point-in-time
Common stock and additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$11.79M	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`	$48.65M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$12.61M	USD	Point-in-time
Treasury stock - at cost	`TreasuryStockValue`	$3.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$47.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$50.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$47.84M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$57.88M	USD	Point-in-time
Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$54.79M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Sales, net	`Revenues`	$29.48M	USD	3 Qtrs
Sales, net	`Revenues`	$12.25M	USD	1 Quarter
Sales, net	`Revenues`	$32.52M	USD	3 Qtrs
Sales, net	`Revenues`	$9.89M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$5.63M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$17.36M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$6.50M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$17.57M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.75M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.95M	USD	3 Qtrs
Gross profit	`GrossProfit`	$12.12M	USD	3 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$108.36K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$190.69K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$321.52K	USD	3 Qtrs
Research and development costs	`ResearchAndDevelopmentExpense`	$881.34K	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.50M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$7.66M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.65M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$2.27M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.80M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.99M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.74M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$6.97M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.12M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$432.98K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$239.94K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$362.71K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.09M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.04M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.17M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.36M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.56M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$952.00K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$659.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$386.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.22M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.53M	USD	3 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$0.82	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$1.91	USD	3 Qtrs
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic and diluted earnings per common share	`EarningsPerShareBasic`	$1.20	USD	3 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.22M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.53M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$1.00M	USD	3 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$1.34M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$1.85K	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	-	USD	3 Qtrs
Stock options issued for services	`IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption`	$-301.31K	USD	3 Qtrs
Stock options issued for services	`IncreaseDecreaseInFairValueAdjustmentsOnAssetsAndLiabilitiesCarriedAtFairValueUnderFairValueOption`	$-128.44K	USD	3 Qtrs
Accounts and other receivables, net	`IncreaseDecreaseInAccountsReceivable`	$4.10M	USD	3 Qtrs
Accounts and other receivables, net	`IncreaseDecreaseInAccountsReceivable`	$-666.88K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-414.14K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.09M	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$409.84K	USD	3 Qtrs
Costs and estimated earnings in excess of billings	`IncreaseDecreaseInUnbilledReceivables`	$437.51K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$113.38K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-203.81K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-761.82K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$40.32K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInOtherCurrentLiabilities`	$-134.60K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInOtherCurrentLiabilities`	$-38.33K	USD	3 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$315.23K	USD	3 Qtrs
Billings in excess of costs and estimated earnings	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-32.18K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$27.34K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	3 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.68M	USD	3 Qtrs
Net operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.34M	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$755.34K	USD	3 Qtrs
Acquisition of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.38M	USD	3 Qtrs
Patent expenditures	`PaymentsToAcquireIntangibleAssets`	$300.00K	USD	3 Qtrs
Patent expenditures	`PaymentsToAcquireIntangibleAssets`	-	USD	3 Qtrs
Purchase of short-term investments	`PaymentsToAcquireOtherInvestments`	$18.18M	USD	3 Qtrs
Purchase of short-term investments	`PaymentsToAcquireOtherInvestments`	$7.55M	USD	3 Qtrs
Proceeds from sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$10.50M	USD	3 Qtrs
Proceeds from sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	-	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$3.59K	USD	3 Qtrs
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$3.62K	USD	3 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.57M	USD	3 Qtrs
Net investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.89M	USD	3 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$91.49K	USD	3 Qtrs
Proceeds from issuance of common stock, net	`ProceedsFromIssuanceOfCommonStock`	$443.51K	USD	3 Qtrs
Acquisition of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	$9.53M	USD	3 Qtrs
Acquisition of treasury stock	`PaymentsForRepurchaseOfOtherEquity`	-	USD	3 Qtrs
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.08M	USD	3 Qtrs
Net financing activities	`NetCashProvidedByUsedInFinancingActivities`	$91.49K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-19.13M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-518.77K	USD	3 Qtrs
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.38M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.58M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.06M	USD	Point-in-time
Cash and cash equivalents - beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.52M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.38M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.58M	USD	Point-in-time
Cash and cash equivalents - ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.06M	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`	$47.70M	USD	Point-in-time
Equity, Attributable to Parent, Beginning Balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Equity, Attributable to Parent, Beginning Balance	`StockholdersEquity`	$47.84M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$47.70M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$50.09M	USD	Point-in-time
Equity, Attributable to Parent, Ending Balance	`StockholdersEquity`	$47.84M	USD	Point-in-time
Net income	`NetIncomeLoss`	$4.22M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.53M	USD	3 Qtrs

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