10-Q Filing

EACO CORP CIK: 784539 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001410578-23-000019`
Period End Date	20221130
Filing Date	20230111
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	eaco-20221130x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 34 Cash Flow Statement 53 Stockholders Equity 14 Comprehensive Income 6

Balance Sheet 70 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
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.02M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	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
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.00K	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$40.34M	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$53.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Marketable securities, trading	`TradingSecurities`	$3.92M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Marketable securities, trading	`TradingSecurities`	$10.65M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.20M	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`	$123.27M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyEquipmentAndLeaseholdImprovementsNet`	$8.21M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyEquipmentAndLeaseholdImprovementsNet`	$8.48M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$10.64M	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`	$1.12M	USD	Point-in-time
Total assets	`Assets`	$143.25M	USD	Point-in-time
Total assets	`Assets`	$139.68M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$21.76M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$21.25M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$15.02M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$14.25M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.38M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.55M	USD	Point-in-time
Current portion of long-term debt	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$120.00K	USD	Point-in-time
Current portion of long-term debt	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$119.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$40.28M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.46M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.43M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.19M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$7.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$51.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$50.89M	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`	$88.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$79.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$75.15M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$87.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$58.82M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$73.41M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$92.35M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$143.25M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$139.68M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$63.82M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$76.32M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$54.66M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$45.64M	USD	1 Quarter
Gross margin	`GrossProfit`	$21.66M	USD	1 Quarter
Gross margin	`GrossProfit`	$18.18M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$8.89M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.69M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.98M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$9.28M	USD	1 Quarter
Net gain (loss) on trading securities	`DebtSecuritiesTradingRealizedGainLoss`	$442.00K	USD	1 Quarter
Net gain (loss) on trading securities	`DebtSecuritiesTradingRealizedGainLoss`	$-56.00K	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-52.00K	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-48.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$394.00K	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-108.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.37M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.18M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.66M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.79M	USD	1 Quarter
Cumulative preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$19.00K	USD	1 Quarter
Cumulative preferred stock dividend	`PreferredStockDividendsIncomeStatementImpact`	$19.00K	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.69M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$6.77M	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Basic earnings per common share	`EarningsPerShareBasic`	$1.39	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$0.97	USD	1 Quarter
Diluted earnings per common share	`EarningsPerShareDiluted`	$1.39	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	4.86M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	1 Quarter
Diluted weighted average common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.86M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$382.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$359.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$2.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$9.00K	USD	1 Quarter
Net unrealized (gain) loss on trading securities	`GainLossOnSaleOfInvestments`	$-56.00K	USD	1 Quarter
Net unrealized (gain) loss on trading securities	`GainLossOnSaleOfInvestments`	$487.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$248.00K	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.30M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$4.25M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.09M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.35M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$272.00K	USD	1 Quarter
Operating lease right-of-use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAssets`	$256.00K	USD	1 Quarter
Operating lease right-of-use assets	`IncreaseDecreaseInOperatingLeaseRightOfUseAssets`	$220.00K	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$1.64M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-407.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-768.00K	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$744.00K	USD	1 Quarter
Right of use liabilities	`IncreaseDecreaseInRightOfUseLiabilities`	$240.00K	USD	1 Quarter
Right of use liabilities	`IncreaseDecreaseInRightOfUseLiabilities`	$272.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.95M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.21M	USD	1 Quarter
Additions to property, equipment, and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$86.00K	USD	1 Quarter
Additions to property, equipment, and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$286.00K	USD	1 Quarter
(Purchase) proceeds from sale of marketable securities, trading	`ProceedsPaymentsFromSaleAndPurchaseOfMarketableSecurities`	$1.00K	USD	1 Quarter
(Purchase) proceeds from sale of marketable securities, trading	`ProceedsPaymentsFromSaleAndPurchaseOfMarketableSecurities`	$-6.24M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.33M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-285.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$27.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$29.00K	USD	1 Quarter
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$19.00K	USD	1 Quarter
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$19.00K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-1.01M	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-109.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-157.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.05M	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-480.00K	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-86.00K	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.37M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.13M	USD	1 Quarter
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.40M	USD	Point-in-time
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`	$5.59M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.03M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end 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`	$5.59M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.03M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$52.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$51.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$17.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$87.75M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$58.82M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$73.41M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$92.35M	USD	Point-in-time
Preferred dividends	`DividendsPreferredStock`	$19.00K	USD	1 Quarter
Preferred dividends	`DividendsPreferredStock`	$19.00K	USD	1 Quarter
Foreign translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-86.00K	USD	1 Quarter
Foreign translation loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-480.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.79M	USD	1 Quarter
Balance at the end	`StockholdersEquity`	$87.75M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$58.82M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$73.41M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$92.35M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.79M	USD	1 Quarter
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-86.00K	USD	1 Quarter
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-480.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.62M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.31M	USD	1 Quarter

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