10-Q Filing

RICHARDSON ELECTRONICS, LTD. CIK: 355948 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001387131-16-007204`
Period End Date	20160831
Filing Date	20161006
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	rell-20160827.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 33 Cash Flow Statement 61 Stockholders Equity 13

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$380.00K	USD	Point-in-time
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$364.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$60.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$74.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.49M	USD	Point-in-time
Accounts receivable, less allowance of $380 and $364	`AccountsReceivableNetCurrent`	$21.55M	USD	Point-in-time
Accounts receivable, less allowance of $380 and $364	`AccountsReceivableNetCurrent`	$24.93M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$45.19M	USD	Point-in-time
Inventories, net	`InventoryNet`	$45.42M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred Stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.74M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.76M	USD	Point-in-time
Preferred Stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.08M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$30.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$17.00K	USD	Point-in-time
Investments - current	`ShortTermInvestments`	$2.27M	USD	Point-in-time
Investments - current	`ShortTermInvestments`	$6.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$132.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$135.93M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$14.43M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$12.99M	USD	Point-in-time
Goodwill	`Goodwill`	$6.33M	USD	Point-in-time
Goodwill	`Goodwill`	$6.33M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.82M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.71M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.27M	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.30M	USD	Point-in-time
Investments - non-current	`LongTermInvestments`	$7.80M	USD	Point-in-time
Investments - non-current	`LongTermInvestments`	$2.41M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$28.18M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$32.20M	USD	Point-in-time
Total assets	`Assets`	$168.13M	USD	Point-in-time
Total assets	`Assets`	$160.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.58M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.90M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$9.13M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$8.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.03M	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$1.46M	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$237.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.20M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$967.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.42M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$1.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$26.45M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.01M	USD	Point-in-time
Preferred stock, $1.00 par value, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$59.07M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$58.97M	USD	Point-in-time
Common stock in treasury, at cost, no shares at August 27, 2016, and at May 28, 2016	`TreasuryStockValue`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$79.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$75.69M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.77M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$141.68M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$138.56M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$168.13M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$160.57M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$37.07M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$33.37M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$23.13M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$25.81M	USD	1 Quarter
Gross profit	`GrossProfit`	$10.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.26M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.27M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.33M	USD	1 Quarter
Gain on disposal of assets	`GainLossOnDispositionOfAssets`	$1.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.09M	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$11.00K	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$191.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-182.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-278.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-36.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-27.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-266.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-2.35M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.03M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$497.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$368.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.85M	USD	1 Quarter
Foreign currency translation gain (loss), net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-503.00K	USD	1 Quarter
Foreign currency translation gain (loss), net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$379.00K	USD	1 Quarter
Fair value adjustments on investments gain (loss)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-60.00K	USD	1 Quarter
Fair value adjustments on investments gain (loss)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$7.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-2.46M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.96M	USD	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.63M	shares	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.84M	shares	1 Quarter

Cash Flow Statement 61 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.85M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$715.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$485.00K	USD	1 Quarter
Gain on sale of investments	`GainLossOnSaleOfInvestments`	$11.00K	USD	1 Quarter
Gain on sale of investments	`GainLossOnSaleOfInvestments`	$2.00K	USD	1 Quarter
Gain on disposal of assets	`AssetsDisposedOfByMethodOtherThanSaleInPeriodOfDispositionGainLossOnDisposition1`	$1.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$103.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$90.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-158.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.52M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.56M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$13.00K	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-548.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-411.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$593.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-41.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$581.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.52M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.34M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.14M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-804.00K	USD	1 Quarter
Non-current deferred income tax liabilities	`IncreaseDecreaseInDeferredIncomeTaxes`	$-228.00K	USD	1 Quarter
Long-term liabilities-accrued pension	`IncreaseDecreaseInOtherAccruedLiabilities`	$-465.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-35.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-5.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.68M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.51M	USD	1 Quarter
Cash consideration paid for acquired business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$12.21M	USD	1 Quarter
Cash consideration paid for acquired business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$984.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$2.06M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromSaleOfLongtermInvestments`	$1.47M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromSaleOfLongtermInvestments`	$18.35M	USD	1 Quarter
Proceeds from sales of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$100.00K	USD	1 Quarter
Proceeds from sales of available-for-sale securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$88.00K	USD	1 Quarter
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$88.00K	USD	1 Quarter
Purchases of available-for-sale securities	`PaymentsToAcquireAvailableForSaleSecurities`	$100.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$3.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-60.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-602.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.22M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.31M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividends`	$758.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividends`	$806.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.12M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-758.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$69.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-695.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.97M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.11M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$68.43M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$74.53M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$68.43M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$74.53M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.49M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$141.68M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$138.56M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-1.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.85M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-503.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$379.00K	USD	1 Quarter
Fair value adjustments on investments	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-60.00K	USD	1 Quarter
Fair value adjustments on investments	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$7.00K	USD	1 Quarter
Stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$103.00K	USD	1 Quarter
Common (per share)	`DividendsCommonStockCash`	$641.00K	USD	1 Quarter
Class B (per share)	`DividendsCommonStockCashClassB`	$116.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$141.68M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$138.56M	USD	Point-in-time

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