10-Q Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001437749-13-004423`
Period End Date	20130228
Filing Date	20130415
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	artw-20130228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 37 Cash Flow Statement 52

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$32.98K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$27.96K	USD	Point-in-time
Cash	`Cash`	$3.57M	USD	Point-in-time
Undesignated preferred stock - par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$1.55M	USD	Point-in-time
Undesignated preferred stock - par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $32,976 and $27,958 in 2013 and 2012, respectively	`AccountsReceivableNetCurrent`	$2.78M	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $32,976 and $27,958 in 2013 and 2012, respectively	`AccountsReceivableNetCurrent`	$2.74M	USD	Point-in-time
Undesignated preferred stock - authorized shares	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Undesignated preferred stock - authorized shares	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Undesignated preferred stock - issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Undesignated preferred stock - issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$14.13M	USD	Point-in-time
Inventories, net	`InventoryNet`	$14.33M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.06M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.06M	USD	Point-in-time
Undesignated preferred stock - outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Undesignated preferred stock - outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$59.92K	USD	Point-in-time
Common stock par value (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
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$329.66K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$309.80K	USD	Point-in-time
Common stock authorized shares	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Common stock authorized shares	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.89M	USD	Point-in-time
Common stock issued shares	`CommonStockSharesIssued`	4.04M	shares	Point-in-time
Common stock issued shares	`CommonStockSharesIssued`	4.04M	shares	Point-in-time
Common stock outstanding shares	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.54M	USD	Point-in-time
Common stock outstanding shares	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.56M	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$313.11K	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$340.98K	USD	Point-in-time
Assets held for sale, net	`AssetsHeldForSaleLongLived`	$205.51K	USD	Point-in-time
Goodwill and other Intangibles	`Goodwill`	$993.73K	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`	$28.16M	USD	Point-in-time
Total assets	`Assets`	$32.73M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.17M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$654.32K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$232.30K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$2.01M	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$1.13M	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$547.04K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.96M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.73M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$364.27K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$821.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.93M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.96M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$897.49K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$897.49K	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$7.30M	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$7.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.84M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.16M	USD	Point-in-time
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2013 and 2012; issued and outstanding 0 shares in 2013 and 2012.	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2013 and 2012; issued and outstanding 0 shares in 2013 and 2012.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2013 and 2012; issued and outstanding 4,035,052 in 2013 and 2012	`CommonStockValue`	$40.35K	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2013 and 2012; issued and outstanding 4,035,052 in 2013 and 2012	`CommonStockValue`	$40.35K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.31M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.89M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$31.23M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$32.73M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$8.42M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$6.31M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$4.84M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$6.05M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.48M	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$102.57K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$85.06K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$366.78K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$489.74K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$662.12K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.06M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.11M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.66M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$712.75K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$362.25K	USD	1 Quarter
Interest expense	`InterestExpense`	$93.04K	USD	1 Quarter
Interest expense	`InterestExpense`	$89.46K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$638.14K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$19.86K	USD	1 Quarter
Total other income (loss)	`NonoperatingIncomeExpense`	$-73.18K	USD	1 Quarter
Total other income (loss)	`NonoperatingIncomeExpense`	$548.68K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.26M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$289.08K	USD	1 Quarter
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$57.08K	USD	1 Quarter
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$442.17K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$38.50K	USD	1 Quarter
Net income	`NetIncomeLoss`	$193.50K	USD	1 Quarter
Net income	`NetIncomeLoss`	$819.25K	USD	1 Quarter
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.20	USD	1 Quarter
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Weighted average outstanding shares used to compute basic net income per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.03M	shares	1 Quarter
Weighted average outstanding shares used to compute basic net income per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.04M	shares	1 Quarter
Weighted average outstanding shares used to compute diluted net income per share (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.05M	shares	1 Quarter
Weighted average outstanding shares used to compute diluted net income per share (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.05M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$193.50K	USD	1 Quarter
Net income	`NetIncomeLoss`	$819.25K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$10.69K	USD	1 Quarter
(Gain) on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$630.03K	USD	1 Quarter
Depreciation expense	`Depreciation`	$198.75K	USD	1 Quarter
Depreciation expense	`Depreciation`	$190.66K	USD	1 Quarter
Amortization expense	`AmortizationOfIntangibleAssets`	$15.00K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$5.02K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-38.50K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-32.95K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.07M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-201.14K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.13M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$28.10K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$19.86K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$182.15K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.12M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$438.47K	USD	1 Quarter
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$347.41K	USD	1 Quarter
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-536.49K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$1.78M	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$1.83M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-351.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-457.03K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-264.32K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-225.75K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$713.43K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.61M	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$144.32K	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$105.60K	USD	1 Quarter
Proceeds from sale of Armstrong, IA land and Salem, SD building	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$835.54K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-105.60K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$691.21K	USD	1 Quarter
Net change in line of credit	`RepaymentsOfLinesOfCredit`	$246.97K	USD	1 Quarter
Payments of notes payable to bank	`RepaymentsOfNotesPayable`	$272.19K	USD	1 Quarter
Payments of notes payable to bank	`RepaymentsOfNotesPayable`	$163.30K	USD	1 Quarter
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-410.26K	USD	1 Quarter
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-272.19K	USD	1 Quarter
Net increase in cash	`CashPeriodIncreaseDecrease`	$197.56K	USD	1 Quarter
Net increase in cash	`CashPeriodIncreaseDecrease`	$2.02M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.57M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$118.92K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$316.49K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.57M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$118.92K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$316.49K	USD	Point-in-time
Interest	`InterestPaid`	$89.46K	USD	1 Quarter
Interest	`InterestPaid`	$94.32K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$436.90K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$899.20K	USD	1 Quarter

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