10-K Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001437749-13-001999`
Period End Date	20121130
Filing Date	20130227
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	artw-20121130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 38 Cash Flow Statement 64 Stockholders Equity 23

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts (in Dollars) (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$49.58K	USD	Point-in-time
Allowance for Doubtful Accounts (in Dollars) (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$27.96K	USD	Point-in-time
Preferred stock - par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock - par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$118.92K	USD	Point-in-time
Cash	`Cash`	$1.55M	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $27,958 and $49,583 in 2012 and 2011, respectively	`AccountsReceivableNetCurrent`	$2.78M	USD	Point-in-time
Preferred stock - authorized shares (in Shares)	`PreferredStockSharesAuthorized`	0.00	shares	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $27,958 and $49,583 in 2012 and 2011, respectively	`AccountsReceivableNetCurrent`	$2.03M	USD	Point-in-time
Preferred stock - authorized shares (in Shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Preferred stock - issued shares (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$14.33M	USD	Point-in-time
Preferred stock - issued shares (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$13.25M	USD	Point-in-time
Preferred stock - outstanding shares (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$1.06M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsNetCurrent`	$933.50K	USD	Point-in-time
Preferred stock - outstanding shares (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock par value (in Dollars per share) (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock par value (in Dollars per share) (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$102.06K	USD	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$164.73K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$198.93K	USD	Point-in-time
Common stock shares authorized (in Shares)	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$309.80K	USD	Point-in-time
Common stock shares authorized (in Shares)	`CommonStockSharesAuthorized`	5.00M	shares	Point-in-time
Common stock issued shares (in Shares)	`CommonStockSharesIssued`	4.03M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$16.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.13M	USD	Point-in-time
Common stock issued shares (in Shares)	`CommonStockSharesIssued`	4.04M	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.56M	USD	Point-in-time
Common stock outstanding shares (in Shares)	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Common stock outstanding shares (in Shares)	`CommonStockSharesOutstanding`	4.03M	shares	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`	$340.98K	USD	Point-in-time
Assets held for sale, net	`AssetsHeldForSaleLongLived`	$186.36K	USD	Point-in-time
Assets held for sale, net	`AssetsHeldForSaleLongLived`	$205.51K	USD	Point-in-time
Covenant not to Compete, net	`IntangibleAssetsNetExcludingGoodwill`	$60.00K	USD	Point-in-time
Goodwill and other Intangibles	`Goodwill`	$375.00K	USD	Point-in-time
Goodwill and other Intangibles	`Goodwill`	$993.73K	USD	Point-in-time
Total assets	`Assets`	$31.23M	USD	Point-in-time
Total assets	`Assets`	$25.86M	USD	Point-in-time
Line of credit	`LineOfCredit`	$1.39M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.17M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$712.96K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$654.32K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$341.74K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$338.48K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$232.30K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$74.05K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$1.13M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.36M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.96M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$821.30K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$351.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.57M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$897.49K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$810.90K	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$5.74M	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$7.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.12M	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 and 5,000,000 shares in 2012 and 2011; issued and outstanding 4,035,052 and 4,025,852 shares in 2012 and 2011	`CommonStockValue`	$40.35K	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 and 5,000,000 shares in 2012 and 2011; issued and outstanding 4,035,052 and 4,025,852 shares in 2012 and 2011	`CommonStockValue`	$40.26K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$13.59M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.73M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$25.86M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$31.23M	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`	$36.46M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$26.42M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$20.61M	USD	Annual
Gross profit	`GrossProfit`	$7.01M	USD	Annual
Gross profit	`GrossProfit`	$10.03M	USD	Annual
Engineering	`OtherGeneralExpense`	$331.06K	USD	Annual
Engineering	`OtherGeneralExpense`	$433.77K	USD	Annual
Selling	`SellingAndMarketingExpense`	$1.61M	USD	Annual
Selling	`SellingAndMarketingExpense`	$1.70M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.94M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.76M	USD	Annual
Total expenses	`OperatingExpenses`	$5.70M	USD	Annual
Total expenses	`OperatingExpenses`	$5.08M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.93M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$4.33M	USD	Annual
Interest expense	`InterestExpense`	$413.59K	USD	Annual
Interest expense	`InterestExpense`	$428.54K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$73.80K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$79.71K	USD	Annual
Total other income (loss)	`NonoperatingIncomeExpense`	$-348.83K	USD	Annual
Total other income (loss)	`NonoperatingIncomeExpense`	$-339.80K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.58M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$3.99M	USD	Annual
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$201.63K	USD	Annual
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$1.36M	USD	Annual
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$130.41K	USD	Annual
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-41.72K	USD	Annual
Net income	`NetIncomeLoss`	$2.67M	USD	Annual
Net income	`NetIncomeLoss`	$1.25M	USD	Annual
Basic net income (loss) per share (in Dollars per share)	`EarningsPerShareBasic`	$0.31	USD	Annual
Basic net income (loss) per share (in Dollars per share)	`EarningsPerShareBasic`	$0.66	USD	Annual
Diluted net income (loss) per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.66	USD	Annual
Diluted net income (loss) per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.31	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`	4.03M	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`	4.05M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.67M	USD	Annual
Net income	`NetIncomeLoss`	$1.25M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$58.31K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$34.52K	USD	Annual
Impairment of asset available for sale	`ImpairmentOfLongLivedAssetsToBeDisposedOf`	$94.65K	USD	Annual
Depreciation expense	`Depreciation`	$720.17K	USD	Annual
Depreciation expense	`Depreciation`	$792.91K	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	$60.00K	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	$60.00K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-7.65K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-20.00K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-130.41K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$41.72K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$739.98K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-483.25K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$130.62K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-546.71K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$110.87K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-46.84K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-666.95K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$312.58K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$124.49K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.11M	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-106.18K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-102.40K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$470.30K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-243.82K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$596.96K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-17.82K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.00M	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`	$799.60K	USD	Annual
Net change in asset held for lease	`NetChangeInAssetHeldForLease`	$-232.86K	USD	Annual
Purchase of assets of Universal Harvester	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$3.00M	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.80M	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.09M	USD	Annual
Proceeds from (repayments of) line of credit borrowings, net	`RepaymentsOfLinesOfCredit`	$1.39M	USD	Annual
Proceeds from (repayments of) line of credit borrowings, net	`RepaymentsOfLinesOfCredit`	$695.03K	USD	Annual
Payments of notes payable to bank	`RepaymentsOfNotesPayable`	$611.92K	USD	Annual
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.88M	USD	Annual
Repayment of term debt	`RepaymentsOfLongTermDebt`	$869.99K	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.11K	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$74.43K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$403.58K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$241.55K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$226.57K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.47M	USD	Annual
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-198.18K	USD	Annual
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$1.43M	USD	Annual
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 beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	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
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Interest	`InterestPaid`	$432.13K	USD	Annual
Interest	`InterestPaid`	$411.74K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.05M	USD	Annual
Income taxes	`IncomeTaxesPaid`	$485.14K	USD	Annual
Equipment, tools and dies	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$364.05K	USD	Annual
Goodwill and intagible assets	`NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1`	$618.73K	USD	Annual
Land and Building	`NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1`	$1.11M	USD	Annual
Non-Cash Activity: Stock issued for purchase of assets	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$-35.55K	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Dividends paid per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.06	USD	Annual
Balance	`StockholdersEquity`	$17.07M	USD	Point-in-time
Dividends paid per share (in Dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.06	USD	Annual
Balance	`StockholdersEquity`	$13.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.73M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	4.03M	shares	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.11K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$74.43K	USD	Annual
Exercise of stock options (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	-17,500.00	shares	Annual
Exercise of stock options (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	-2,000.00	shares	Annual
Stock based compensation	`ShareBasedCompensation`	$58.31K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$34.52K	USD	Annual
Shares issued for purchase of UHC	`StockIssuedDuringPeriodValueAcquisitions`	$35.55K	USD	Annual
Dividends paid	`DividendsCash`	$403.58K	USD	Annual
Dividends paid	`DividendsCash`	$241.55K	USD	Annual
Net income	`NetIncomeLoss`	$2.67M	USD	Annual
Net income	`NetIncomeLoss`	$1.25M	USD	Annual
Balance	`StockholdersEquity`	$17.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$13.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$14.73M	USD	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Balance (in Shares)	`CommonStockSharesOutstanding`	4.03M	shares	Point-in-time

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