10-K Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001437749-12-001749`
Period End Date	20111130
Filing Date	20120224
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	artw-20111130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 65 Stockholders Equity 18

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$114.83K	USD	Point-in-time
Allowance for Doubtful Accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$49.58K	USD	Point-in-time
Cash	`Cash`	$317.10K	USD	Point-in-time
Cash	`Cash`	$118.92K	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 $49,583 and $114,834 in 2011 and 2010, respectively	`AccountsReceivableNetCurrent`	$2.03M	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $49,583 and $114,834 in 2011 and 2010, respectively	`AccountsReceivableNetCurrent`	$2.49M	USD	Point-in-time
Common stock issued shares	`CommonStockSharesIssued`	4.01M	shares	Point-in-time
Inventories, net	`InventoryNet`	$13.25M	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.80M	USD	Point-in-time
Common stock issued shares	`CommonStockSharesIssued`	4.03M	shares	Point-in-time
Common stock outstanding shares	`CommonStockSharesOutstanding`	4.03M	shares	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$821.00K	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$933.50K	USD	Point-in-time
Common stock outstanding shares	`CommonStockSharesOutstanding`	4.01M	shares	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$164.73K	USD	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrPrograms`	$256.74K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$245.77K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$198.93K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.70M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$8.03M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$8.09M	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$452.44K	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$319.13K	USD	Point-in-time
Assets held for sale, net	`AssetsHeldForSaleLongLived`	$186.36K	USD	Point-in-time
Covenant not to Compete, net	`IntangibleAssetsNetExcludingGoodwill`	$120.00K	USD	Point-in-time
Covenant not to Compete, net	`IntangibleAssetsNetExcludingGoodwill`	$60.00K	USD	Point-in-time
Goodwill	`Goodwill`	$375.00K	USD	Point-in-time
Goodwill	`Goodwill`	$375.00K	USD	Point-in-time
Total assets	`Assets`	$25.86M	USD	Point-in-time
Total assets	`Assets`	$26.78M	USD	Point-in-time
Notes payable to bank	`LoansPayableToBankCurrent`	$1.39M	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`	$712.96K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$341.74K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$440.89K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$338.48K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCost`	$74.05K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCost`	$41.57K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.36M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.38M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$351.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$594.82K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.17M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$810.90K	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`	$5.74M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.12M	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 4,025,852 and 4,008,352 shares in 2011 and 2010	`CommonStockValue`	$40.26K	USD	Point-in-time
Common stock $0.01 par value. Authorized 5,000,000 shares; issued and outstanding 4,025,852 and 4,008,352 shares in 2011 and 2010	`CommonStockValue`	$40.08K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.46M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.33M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.23M	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`	$12.67M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.73M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$26.78M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$25.86M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$27.62M	USD	Annual
Net sales	`SalesRevenueNet`	$28.95M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$20.61M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$22.14M	USD	Annual
Gross profit	`GrossProfit`	$7.01M	USD	Annual
Gross profit	`GrossProfit`	$6.81M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$433.77K	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$417.52K	USD	Annual
Selling	`SellingAndMarketingExpense`	$1.70M	USD	Annual
Selling	`SellingAndMarketingExpense`	$1.81M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.69M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.94M	USD	Annual
Total expenses	`OperatingExpenses`	$4.91M	USD	Annual
Total expenses	`OperatingExpenses`	$5.08M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.90M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.93M	USD	Annual
Interest expense	`InterestExpense`	$428.54K	USD	Annual
Interest expense	`InterestExpense`	$423.27K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$86.16K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$79.71K	USD	Annual
Total other income (loss)	`NonoperatingIncomeExpense`	$-348.83K	USD	Annual
Total other income (loss)	`NonoperatingIncomeExpense`	$-337.11K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.58M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.56M	USD	Annual
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$488.43K	USD	Annual
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$395.12K	USD	Annual
Deferred tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-63.09K	USD	Annual
Deferred tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$16.00K	USD	Annual
Net income	`NetIncomeLoss`	$1.25M	USD	Annual
Net income	`NetIncomeLoss`	$1.05M	USD	Annual
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.26	USD	Annual
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.31	USD	Annual
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	Annual
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.26	USD	Annual
Weighted average outstanding shares used to compute basic net income per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.02M	shares	Annual
Weighted average outstanding shares used to compute basic net income per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.99M	shares	Annual
Weighted average outstanding shares used to compute diluted net income per share (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.05M	shares	Annual
Weighted average outstanding shares used to compute diluted net income per share (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.01M	shares	Annual

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.25M	USD	Annual
Net income	`NetIncomeLoss`	$1.05M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$28.32K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$58.31K	USD	Annual
Depreciation expense	`Depreciation`	$655.88K	USD	Annual
Depreciation expense	`Depreciation`	$720.17K	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	$60.00K	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	$60.00K	USD	Annual
Bad debt expense (recoveries)	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	Annual
Bad debt expense (recoveries)	`ProvisionForDoubtfulAccounts`	$40.29K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$16.00K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$130.41K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$185.96K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-483.25K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-546.71K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$299.78K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-793.13K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-46.84K	USD	Annual
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$10.90K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$569.56K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-666.95K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-102.27K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$124.49K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$191.61K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-102.40K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-243.82K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$172.61K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-17.82K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$589.72K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.59M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.37M	USD	Annual
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$859.32K	USD	Annual
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.04M	USD	Annual
Net change in asset held for lease	`NetChangeInAssetHeldForLease`	$-232.86K	USD	Annual
Net change in asset held for lease	`NetChangeInAssetHeldForLease`	$-319.09K	USD	Annual
Purchase of assets of Roda	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.16M	USD	Annual
Purchase of assets of M&W	`PaymentsToAcquireBusinessTwoNetOfCashAcquired`	$427.20K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.95M	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.09M	USD	Annual
Proceeds from (repayments of) line of credit borrowings, net	`RepaymentsOfLinesOfCredit`	$695.03K	USD	Annual
Proceeds from (repayments of) line of credit borrowings, net	`RepaymentsOfLinesOfCredit`	$354.89K	USD	Annual
Payments of notes payable to bank	`RepaymentsOfNotesPayable`	$611.92K	USD	Annual
Payments of notes payable to bank	`RepaymentsOfNotesPayable`	$514.52K	USD	Annual
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.31M	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$81.24K	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$74.43K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$240.02K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$241.55K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$284.81K	USD	Annual
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.47M	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-70.11K	USD	Annual
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-198.18K	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$387.22K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$317.10K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$118.92K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$387.22K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$317.10K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$118.92K	USD	Point-in-time
Interest	`InterestPaid`	$432.13K	USD	Annual
Interest	`InterestPaid`	$415.27K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$315.06K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$485.14K	USD	Annual
Transfer of building from inventory to asset held for lease	`TransferOfOtherRealEstate`	$319.09K	USD	Annual
Property, plant and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$7.36K	USD	Annual
Prepaid Expenses	`PaymentsForPurchaseOfOtherAssets`	$10.90K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance, December 1, 2009	`StockholdersEquity`	$13.59M	USD	Point-in-time
Balance, December 1, 2009	`StockholdersEquity`	$12.67M	USD	Point-in-time
Balance, December 1, 2009	`StockholdersEquity`	$14.73M	USD	Point-in-time
Balance, December 1, 2009 (in Shares)	`CommonStockSharesOutstanding`	4.03M	shares	Point-in-time
Balance, December 1, 2009 (in Shares)	`CommonStockSharesOutstanding`	4.01M	shares	Point-in-time
Balance	`StockholdersEquity`	$13.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$12.67M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.73M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	4.03M	shares	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	4.01M	shares	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$81.24K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$74.43K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$28.32K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$58.31K	USD	Annual
Dividends paid	`DividendsCash`	$-240.02K	USD	Annual
Dividends paid	`DividendsCash`	$-241.55K	USD	Annual
Net income	`NetIncomeLoss`	$1.25M	USD	Annual
Net income	`NetIncomeLoss`	$1.05M	USD	Annual

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