10-K Filing

EACO CORP CIK: 784539 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001410578-22-002955`
Period End Date	20220831
Filing Date	20221104
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	eaco-20220831x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 34 Cash Flow Statement 55 Stockholders Equity 12 Comprehensive Income 6

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.46M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.39M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.00K	USD	Point-in-time
Convertible preferred stock, liquidation value (in dollars)	`PreferredStockLiquidationPreferenceValue`	$900.00K	USD	Point-in-time
Convertible preferred stock, liquidation value (in dollars)	`PreferredStockLiquidationPreferenceValue`	$900.00K	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$33.93M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$44.64M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$48.81M	USD	Point-in-time
Inventory, net	`InventoryNet`	$40.45M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Marketable securities, trading	`TradingSecurities`	$3.92M	USD	Point-in-time
Marketable securities, trading	`TradingSecurities`	$3.74M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.78M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$119.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$89.36M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyEquipmentAndLeaseholdImprovementsNet`	$8.48M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyEquipmentAndLeaseholdImprovementsNet`	$8.27M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$11.08M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$10.39M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.04M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.67M	USD	Point-in-time
Total assets	`Assets`	$139.68M	USD	Point-in-time
Total assets	`Assets`	$110.39M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$21.76M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$16.41M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$10.96M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$15.02M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.10M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.38M	USD	Point-in-time
Current portion of long-term debt	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$119.00K	USD	Point-in-time
Current portion of long-term debt	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$113.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$40.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.59M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.46M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.58M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.19M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$8.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$51.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$43.26M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible preferred stock, $0.01 par value per share; 10,000,000 shares authorized; 36,000 shares outstanding (liquidation value $900)	`PreferredStockValue`	$1.00K	USD	Point-in-time
Convertible preferred stock, $0.01 par value per share; 10,000,000 shares authorized; 36,000 shares outstanding (liquidation value $900)	`PreferredStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.01 par value per share; 8,000,000 shares authorized; 4,861,590 shares outstanding	`CommonStockValue`	$49.00K	USD	Point-in-time
Common stock, $0.01 par value per share; 8,000,000 shares authorized; 4,861,590 shares outstanding	`CommonStockValue`	$49.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.38M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$12.38M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$174.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$780.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$75.15M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$53.91M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$87.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$67.12M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$58.82M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$139.68M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$110.39M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$237.96M	USD	Annual
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$292.56M	USD	Annual
Cost of revenues	`CostOfRevenue`	$209.06M	USD	Annual
Cost of revenues	`CostOfRevenue`	$177.18M	USD	Annual
Gross margin	`GrossProfit`	$60.78M	USD	Annual
Gross margin	`GrossProfit`	$83.50M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$48.07M	USD	Annual
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$53.97M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$12.71M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$29.53M	USD	Annual
Net loss on trading securities	`DebtSecuritiesTradingRealizedGainLoss`	$-807.00K	USD	Annual
Net loss on trading securities	`DebtSecuritiesTradingRealizedGainLoss`	$-213.00K	USD	Annual
Interest and other expense	`InterestIncomeExpenseNet`	$-226.00K	USD	Annual
Interest and other expense	`InterestIncomeExpenseNet`	$-201.00K	USD	Annual
Other income (expense), net	`NonoperatingIncomeExpense`	$-1.03M	USD	Annual
Other income (expense), net	`NonoperatingIncomeExpense`	$-414.00K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.68M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$29.12M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.29M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.81M	USD	Annual
Net income	`NetIncomeLoss`	$8.39M	USD	Annual
Net income	`NetIncomeLoss`	$21.31M	USD	Annual
Cumulative preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$76.00K	USD	Annual
Cumulative preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$76.00K	USD	Annual
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$21.23M	USD	Annual
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$8.31M	USD	Annual
Basic earnings per common share:	`EarningsPerShareBasic`	$4.37	USD	Annual
Basic earnings per common share:	`EarningsPerShareBasic`	$1.71	USD	Annual
Diluted earnings per common share	`EarningsPerShareDiluted`	$4.37	USD	Annual
Diluted earnings per common share	`EarningsPerShareDiluted`	$1.71	USD	Annual
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	Annual
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	Annual
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	Annual
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	Annual

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.39M	USD	Annual
Net income	`NetIncomeLoss`	$21.31M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.49M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.52M	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$89.00K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$38.00K	USD	Annual
Unrealized loss on trading securities	`DebtSecuritiesTradingUnrealizedLoss`	$807.00K	USD	Annual
Unrealized loss on trading securities	`DebtSecuritiesTradingUnrealizedLoss`	$351.00K	USD	Annual
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	$333.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.35M	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.75M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$8.36M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$903.00K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.95M	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.07M	USD	Annual
Operating lease right-of-use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAssets`	$-1.74M	USD	Annual
Operating lease right-of-use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAssets`	$-695.00K	USD	Annual
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$6.39M	USD	Annual
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$901.00K	USD	Annual
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$4.33M	USD	Annual
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$4.06M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-621.00K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-1.75M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.00M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.82M	USD	Annual
Additions to property, equipment, and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$946.00K	USD	Annual
Additions to property, equipment, and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.70M	USD	Annual
Sale of marketable securities, trading	`ProceedFromSaleAndMaturitiesOfMarketableSecurities`	$3.18M	USD	Annual
Sale of marketable securities, trading	`ProceedFromSaleAndMaturitiesOfMarketableSecurities`	$535.00K	USD	Annual
Net change in liabilities for short sales of trading securities	`NetChangeInLiabilitiesForShortSalesOfTradingSecurities`	$-2.91M	USD	Annual
Net cash used in by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.03M	USD	Annual
Net cash used in by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.24M	USD	Annual
Payments on revolving credit facility, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-5.10M	USD	Annual
Repayments on long-term debt	`RepaymentsOfLongTermDebtRealEstateHeldForSale`	$109.00K	USD	Annual
Repayments on long-term debt	`RepaymentsOfLongTermDebtRealEstateHeldForSale`	$114.00K	USD	Annual
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$76.00K	USD	Annual
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$76.00K	USD	Annual
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.04M	USD	Annual
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.02M	USD	Annual
Net cash used in by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.31M	USD	Annual
Net cash used in by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.23M	USD	Annual
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-8.00K	USD	Annual
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-606.00K	USD	Annual
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-4.53M	USD	Annual
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$12.93M	USD	Annual
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.46M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.99M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.40M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.46M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.99M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.40M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$205.00K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$227.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$2.78M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaid`	$3.22M	USD	Annual

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$87.75M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$67.12M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$58.82M	USD	Point-in-time
Preferred dividends	`DividendsPreferredStock`	$76.00K	USD	Annual
Preferred dividends	`DividendsPreferredStock`	$76.00K	USD	Annual
Foreign translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-606.00K	USD	Annual
Foreign translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-8.00K	USD	Annual
Net income	`NetIncomeLoss`	$8.39M	USD	Annual
Net income	`NetIncomeLoss`	$21.31M	USD	Annual
Balance at the end	`StockholdersEquity`	$87.75M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$67.12M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$58.82M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.39M	USD	Annual
Net income	`NetIncomeLoss`	$21.31M	USD	Annual
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-606.00K	USD	Annual
Foreign currency translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-8.00K	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.38M	USD	Annual
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$20.70M	USD	Annual

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