10-Q Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 Q3 2013

Filing Information

Form Type	10-Q
Accession Number	`0001437749-13-013065`
Period End Date	20130831
Filing Date	20131015
Fiscal Year	2013
Fiscal Period	Q3
XBRL Instance	artw-20130831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 72 Cash Flow Statement 59

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$31.84K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$27.96K	USD	Point-in-time
Undesignated preferred stock - par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Undesignated preferred stock - par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`Cash`	$1.43M	USD	Point-in-time
Undesignated preferred stock - authorized shares (in Shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Undesignated preferred stock - authorized shares (in Shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Cash	`Cash`	$1.55M	USD	Point-in-time
Undesignated preferred stock - issued shares (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Undesignated preferred stock - issued shares (in Shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $31,838 and $27,958 in 2013 and 2012, respectively	`AccountsReceivableNetCurrent`	$2.46M	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $31,838 and $27,958 in 2013 and 2012, respectively	`AccountsReceivableNetCurrent`	$2.78M	USD	Point-in-time
Undesignated preferred stock - outstanding shares (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Undesignated preferred stock - outstanding shares (in Shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$13.69M	USD	Point-in-time
Inventories, net	`InventoryNet`	$14.33M	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.09M	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.06M	USD	Point-in-time
Common stock authorized shares (in Shares)	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Common stock authorized shares (in Shares)	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$350.24K	USD	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$102.06K	USD	Point-in-time
Common stock issued shares (in Shares)	`CommonStockSharesIssued`	4.04M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$309.80K	USD	Point-in-time
Common stock issued shares (in Shares)	`CommonStockSharesIssued`	4.04M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$268.81K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.13M	USD	Point-in-time
Common stock outstanding shares (in Shares)	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.30M	USD	Point-in-time
Common stock outstanding shares (in Shares)	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.56M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.83M	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$340.98K	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$257.38K	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`	$32.89M	USD	Point-in-time
Total assets	`Assets`	$31.23M	USD	Point-in-time
Total assets	`Assets`	$30.38M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.17M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$888.97K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$654.32K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$195.73K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$232.30K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$69.28K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$1.13M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.78M	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`	$344.61K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.51M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.96M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$825.68K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$897.49K	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$6.56M	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$7.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.89M	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 4,042,552 in 2013 and 4,035,052 in 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 4,042,552 in 2013 and 4,035,052 in 2012	`CommonStockValue`	$40.43K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.49M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.49M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$30.38M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$31.23M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$11.53M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$29.53M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$9.35M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$27.02M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$7.62M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$21.47M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$8.11M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$20.35M	USD	3 Qtrs
Gross profit	`GrossProfit`	$6.66M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.06M	USD	3 Qtrs
Engineering	`ResearchAndDevelopmentExpense`	$240.46K	USD	3 Qtrs
Engineering	`ResearchAndDevelopmentExpense`	$177.87K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$82.04K	USD	1 Quarter
Engineering	`ResearchAndDevelopmentExpense`	$381.56K	USD	3 Qtrs
Selling	`SellingAndMarketingExpense`	$1.26M	USD	3 Qtrs
Selling	`SellingAndMarketingExpense`	$1.57M	USD	3 Qtrs
Selling	`SellingAndMarketingExpense`	$468.23K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$599.26K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.27M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$896.82K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.10M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$3.14M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$5.10M	USD	3 Qtrs
Total expenses	`OperatingExpenses`	$1.67M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.82M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$4.60M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$54.12K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.61M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.46M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$1.57M	USD	3 Qtrs
Interest expense	`InterestExpense`	$331.82K	USD	3 Qtrs
Interest expense	`InterestExpense`	$229.58K	USD	3 Qtrs
Interest expense	`InterestExpense`	$60.38K	USD	1 Quarter
Interest expense	`InterestExpense`	$129.75K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$18.40K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$58.01K	USD	3 Qtrs
Other	`OtherNonoperatingIncomeExpense`	$55.45K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$684.15K	USD	3 Qtrs
Total other income (loss)	`NonoperatingIncomeExpense`	$454.56K	USD	3 Qtrs
Total other income (loss)	`NonoperatingIncomeExpense`	$-4.93K	USD	1 Quarter
Total other income (loss)	`NonoperatingIncomeExpense`	$-273.81K	USD	3 Qtrs
Total other income (loss)	`NonoperatingIncomeExpense`	$-111.35K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$3.19M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$2.02M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$49.19K	USD	1 Quarter
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$22.79K	USD	1 Quarter
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$515.72K	USD	1 Quarter
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$1.08M	USD	3 Qtrs
Current tax expense	`CurrentIncomeTaxExpenseBenefit`	$660.50K	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.11M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$979.45K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.36M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$26.39K	USD	1 Quarter
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.34	USD	3 Qtrs
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.52	USD	3 Qtrs
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.34	USD	3 Qtrs
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.52	USD	3 Qtrs
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 basic net income per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.04M	shares	3 Qtrs
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 basic net income per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.03M	shares	3 Qtrs
Weighted average outstanding shares used to compute diluted net income per share (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.05M	shares	3 Qtrs
Weighted average outstanding shares used to compute diluted net income per share (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.06M	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	3 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.11M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$979.45K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.36M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$26.39K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$34.52K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$29.81K	USD	3 Qtrs
Gain on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$603.45K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$587.79K	USD	3 Qtrs
Depreciation expense	`Depreciation`	$558.29K	USD	3 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	-	USD	3 Qtrs
Amortization expense	`AmortizationOfIntangibleAssets`	$45.00K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$3.88K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	-	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$33.96K	USD	3 Qtrs
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$97.15K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.20M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-309.99K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$855.82K	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$435.45K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-40.99K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$156.73K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$368.14K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$234.64K	USD	3 Qtrs
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.30M	USD	3 Qtrs
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.97M	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-36.57K	USD	3 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-244.73K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$494.95K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-476.69K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-178.58K	USD	3 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$802.75K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$696.30K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.21M	USD	3 Qtrs
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$533.12K	USD	3 Qtrs
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$684.81K	USD	3 Qtrs
Proceeds from sale of Armstrong, IA land and Salem, SD building	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$835.54K	USD	3 Qtrs
Payments of line of credit to bank	`RepaymentsOfNotesPayable`	$746.57K	USD	3 Qtrs
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.88M	USD	3 Qtrs
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$228.34K	USD	3 Qtrs
Repayment of term debt	`RepaymentsOfLongTermDebt`	$596.75K	USD	3 Qtrs
Repayment of term debt	`RepaymentsOfLongTermDebt`	$907.94K	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.11K	USD	3 Qtrs
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$30.87K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-648.73K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.55M	USD	3 Qtrs
Net increase/(decrease) in cash	`CashPeriodIncreaseDecrease`	$216.91K	USD	3 Qtrs
Net increase/(decrease) in cash	`CashPeriodIncreaseDecrease`	$-113.04K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$335.84K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.43M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$118.92K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$335.84K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.43M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$118.92K	USD	Point-in-time
Interest	`InterestPaid`	$229.58K	USD	3 Qtrs
Interest	`InterestPaid`	$331.82K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$443.93K	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.23M	USD	3 Qtrs

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