10-Q Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001437749-11-007555`
Period End Date	20110831
Filing Date	20111014
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	artw-20110831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 64 Cash Flow Statement 60

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$67.08K	USD	Point-in-time
Allowance for Doubtful Accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$114.83K	USD	Point-in-time
Cash	`Cash`	$213.89K	USD	Point-in-time
Cash	`Cash`	$317.10K	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
Common stock authorized shares	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Common stock authorized shares	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $67,081 and $114,834 in 2011 and 2010, respectively	`AccountsReceivableNetCurrent`	$3.35M	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $67,081 and $114,834 in 2011 and 2010, respectively	`AccountsReceivableNetCurrent`	$2.49M	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.14M	USD	Point-in-time
Common stock issued shares	`CommonStockSharesIssued`	4.01M	shares	Point-in-time
Inventories, net	`InventoryNet`	$13.80M	USD	Point-in-time
Common stock issued shares	`CommonStockSharesIssued`	4.02M	shares	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$821.00K	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$877.11K	USD	Point-in-time
Common stock outstanding shares	`CommonStockSharesOutstanding`	4.01M	shares	Point-in-time
Common stock outstanding shares	`CommonStockSharesOutstanding`	4.02M	shares	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$256.74K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$297.96K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$245.77K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.93M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$8.28M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$8.04M	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$313.77K	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$472.10K	USD	Point-in-time
Covenant not to Compete, net	`IntangibleAssetsNetExcludingGoodwill`	$75.00K	USD	Point-in-time
Covenant not to Compete, net	`IntangibleAssetsNetExcludingGoodwill`	$120.00K	USD	Point-in-time
Goodwill	`Goodwill`	$375.00K	USD	Point-in-time
Goodwill	`Goodwill`	$375.00K	USD	Point-in-time
Total assets	`Assets`	$27.07M	USD	Point-in-time
Total assets	`Assets`	$26.78M	USD	Point-in-time
Notes payable to bank	`LoansPayableToBankCurrent`	$2.48M	USD	Point-in-time
Notes payable to bank	`LoansPayableToBankCurrent`	$2.08M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$615.29K	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$638.53K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$698.75K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$285.77K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$440.89K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCost`	$41.57K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCost`	$340.48K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.38M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.32M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$55.54K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$594.82K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.82M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$739.42K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$568.00K	USD	Point-in-time
Term debt, excluding current portion	`LongTermDebtNoncurrent`	$6.45M	USD	Point-in-time
Term debt, excluding current portion	`LongTermDebtNoncurrent`	$5.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.19M	USD	Point-in-time
Common stock $0.01 par value. Authorized 5,000,000 shares; issued and outstanding 4,023,852 and 4,008,352 shares in 2011 and 2010	`CommonStockValue`	$40.24K	USD	Point-in-time
Common stock $0.01 par value. Authorized 5,000,000 shares; issued and outstanding 4,023,852 and 4,008,352 shares in 2011 and 2010	`CommonStockValue`	$40.08K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.33M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.45M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.22M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$13.59M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.54M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$26.78M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$27.07M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$9.25M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$22.91M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$10.58M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$21.76M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$16.62M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$17.44M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$6.54M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$8.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.47M	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.71M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.14M	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.58M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$330.48K	USD	3 Qtrs
Engineering	`ResearchAndDevelopmentExpense`	$309.34K	USD	3 Qtrs
Engineering	`ResearchAndDevelopmentExpense`	$91.84K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$102.04K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$447.10K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$1.48M	USD	3 Qtrs
Selling	`SellingAndMarketingExpense`	$549.96K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$1.32M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.16M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.08M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$654.23K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$730.57K	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.27M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.31M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$3.81M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$3.87M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.44M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.61M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.33M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.27M	USD	1 Quarter
Interest expense	`InterestExpense`	$120.20K	USD	1 Quarter
Interest expense	`InterestExpense`	$121.08K	USD	1 Quarter
Interest expense	`InterestExpense`	$321.91K	USD	3 Qtrs
Interest expense	`InterestExpense`	$310.88K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$46.52K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$16.91K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$77.82K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$68.87K	USD	3 Qtrs
Total other income (loss)	`NonoperatingIncomeExpense`	$-104.18K	USD	1 Quarter
Total other income (loss)	`NonoperatingIncomeExpense`	$-73.68K	USD	1 Quarter
Total other income (loss)	`NonoperatingIncomeExpense`	$-244.09K	USD	3 Qtrs
Total other income (loss)	`NonoperatingIncomeExpense`	$-242.01K	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.08M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.36M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.17M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.36M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$477.45K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$344.39K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$414.90K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$257.04K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$826.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLoss`	$751.80K	USD	1 Quarter
Net income	`NetIncomeLoss`	$886.71K	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.21	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.22	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.22	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.20	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$0.25	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$826.00K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.02M	USD	1 Quarter
Net income	`NetIncomeLoss`	$751.80K	USD	1 Quarter
Net income	`NetIncomeLoss`	$886.71K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$19.98K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$58.31K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$491.97K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$560.93K	USD	3 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$45.00K	USD	3 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$45.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$35.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$115.31K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-778.99K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-851.84K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$659.22K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-418.01K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$735.98K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-52.19K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-309.94K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$623.57K	USD	3 Qtrs
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$555.65K	USD	3 Qtrs
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$103.67K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$248.76K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-155.12K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$126.63K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-539.28K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-60.53K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$817.65K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$851.52K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.94M	USD	3 Qtrs
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.92M	USD	3 Qtrs
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$730.33K	USD	3 Qtrs
Net change in asset held for lease	`NetChangeInAssetHeldForLease`	$-229.09K	USD	3 Qtrs
Purchase of assets of Roda	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.18M	USD	3 Qtrs
Purchase of assets of M&W	`PaymentsToAcquireBusinessTwoNetOfCashAcquired`	$453.16K	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.55M	USD	3 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-959.42K	USD	3 Qtrs
Net change in line of credit	`RepaymentsOfLinesOfCredit`	$-391.39K	USD	3 Qtrs
Net change in line of credit	`RepaymentsOfLinesOfCredit`	$166.89K	USD	3 Qtrs
Payments of notes payable to bank	`RepaymentsOfNotesPayable`	$453.44K	USD	3 Qtrs
Payments of notes payable to bank	`RepaymentsOfNotesPayable`	$367.37K	USD	3 Qtrs
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.30M	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.50K	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$66.75K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$773.24K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.69K	USD	3 Qtrs
Net (increase) decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-103.21K	USD	3 Qtrs
Net (increase) decrease in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$157.39K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$387.22K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$213.89K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$544.61K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$317.10K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$387.22K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$213.89K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$544.61K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$317.10K	USD	Point-in-time
Interest	`InterestPaid`	$301.98K	USD	3 Qtrs
Interest	`InterestPaid`	$321.92K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$315.06K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$665.20K	USD	3 Qtrs

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