10-Q Filing

EACO CORP CIK: 784539 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001410578-24-000011`
Period End Date	20231130
Filing Date	20240116
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	eaco-20231130x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 35 Cash Flow Statement 56 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`	$8.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.50M	USD	Point-in-time
Convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	36,000.00	shares	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
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$10.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$46.65M	USD	Point-in-time
Trade accounts receivable, net	`AccountsReceivableNetCurrent`	$46.05M	USD	Point-in-time
Inventory, net	`InventoryNet`	$56.27M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$60.26M	USD	Point-in-time
Marketable securities, trading	`TradingSecurities`	$27.23M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Marketable securities, trading	`TradingSecurities`	$4.23M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	4.86M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.15M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$142.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$121.19M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyEquipmentAndLeaseholdImprovementsNet`	$35.52M	USD	Point-in-time
Property, equipment and leasehold improvements, net	`PropertyEquipmentAndLeaseholdImprovementsNet`	$8.04M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$9.99M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$4.22M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.65M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.76M	USD	Point-in-time
Total assets	`Assets`	$162.69M	USD	Point-in-time
Total assets	`Assets`	$162.24M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$26.34M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$22.50M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$14.12M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$16.38M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$2.13M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$3.95M	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$3.20M	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$120.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$42.95M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$45.79M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.32M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$4.35M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$6.22M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$2.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$52.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$53.52M	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`	$38.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-93.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$96.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$98.02M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$92.35M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$110.35M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$108.72M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$87.75M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$162.69M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$162.24M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$76.32M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$80.25M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$54.66M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$56.68M	USD	1 Quarter
Gross margin	`GrossProfit`	$23.57M	USD	1 Quarter
Gross margin	`GrossProfit`	$21.66M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$15.69M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$17.22M	USD	1 Quarter
Impairment on termination of lease	`TangibleAssetImpairmentCharges`	$3.91M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.98M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.45M	USD	1 Quarter
Net (loss) gain on trading securities	`DebtSecuritiesTradingRealizedGainLoss`	$442.00K	USD	1 Quarter
Net (loss) gain on trading securities	`DebtSecuritiesTradingRealizedGainLoss`	$-44.00K	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-9.00K	USD	1 Quarter
Interest and other expense, net	`InterestIncomeExpenseNet`	$-48.00K	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$394.00K	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$-53.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.37M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.40M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.66M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$617.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.78M	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`	$1.76M	USD	1 Quarter
Basic earnings per common share:	`EarningsPerShareBasic`	$0.97	USD	1 Quarter
Basic earnings per common share:	`EarningsPerShareBasic`	$0.36	USD	1 Quarter
Diluted earnings per common share:	`EarningsPerShareDiluted`	$0.97	USD	1 Quarter
Diluted earnings per common share:	`EarningsPerShareDiluted`	$0.36	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 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$4.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.78M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$317.00K	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`	$47.00K	USD	1 Quarter
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	$-67.00K	USD	1 Quarter
Net unrealized loss (gain) on trading securities	`GainLossOnSaleOfInvestments`	$-210.00K	USD	1 Quarter
Net unrealized loss (gain) on trading securities	`GainLossOnSaleOfInvestments`	$487.00K	USD	1 Quarter
Impairment on termination of lease	`TangibleAssetImpairmentCharges`	$3.91M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.30M	USD	1 Quarter
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-556.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$3.99M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$4.25M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$346.00K	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`	$-5.77M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$190.00K	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`	$-2.26M	USD	1 Quarter
Right of use liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$272.00K	USD	1 Quarter
Right of use liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-5.82M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$301.00K	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`	$31.70M	USD	1 Quarter
Proceeds (purchase) from sale of marketable securities, trading	`ProceedsFromPaymentsForTradingSecurities`	$22.79M	USD	1 Quarter
Proceeds (purchase) from sale of marketable securities, trading	`ProceedsFromPaymentsForTradingSecurities`	$-6.24M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.91M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.33M	USD	1 Quarter
Borrowing on revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$3.08M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$29.00K	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$31.00K	USD	1 Quarter
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$19.00K	USD	1 Quarter
Preferred stock dividend	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$19.00K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$-109.00K	USD	1 Quarter
Bank overdraft	`ProceedsFromRepaymentsOfBankOverdrafts`	$3.65M	USD	1 Quarter
Net cash provided by (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-157.00K	USD	1 Quarter
Net cash provided by (used) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$6.68M	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-86.00K	USD	1 Quarter
Effect of foreign currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-131.00K	USD	1 Quarter
Net (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.06M	USD	1 Quarter
Net (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.37M	USD	1 Quarter
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.03M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.57M	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 - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.51M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.03M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.57M	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`	$6.51M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$296.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$51.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$674.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning	`StockholdersEquity`	$92.35M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$110.35M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$108.72M	USD	Point-in-time
Balance at the beginning	`StockholdersEquity`	$87.75M	USD	Point-in-time
Preferred dividends	`DividendsPreferredStock`	$19.00K	USD	1 Quarter
Preferred dividends	`DividendsPreferredStock`	$19.00K	USD	1 Quarter
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-131.00K	USD	1 Quarter
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-86.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.78M	USD	1 Quarter
Balance at the end	`StockholdersEquity`	$92.35M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$110.35M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$108.72M	USD	Point-in-time
Balance at the end	`StockholdersEquity`	$87.75M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$4.71M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$1.78M	USD	1 Quarter
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-131.00K	USD	1 Quarter
Foreign translation (loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-86.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.62M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.65M	USD	1 Quarter

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