10-K Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001437749-14-002836`
Period End Date	20131130
Filing Date	20140226
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	artw-20131130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 36 Cash Flow Statement 63 Stockholders Equity 16

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$27.96K	USD	Point-in-time
Allowance for doubtful accounts (in Dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.47K	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`	$207.95K	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
Cash	`Cash`	$1.55M	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $35,474 and $27,958 in 2013 and 2012, respectively	`AccountsReceivableNetCurrent`	$3.00M	USD	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
Accounts receivable-customers, net of allowance for doubtful accounts of $35,474 and $27,958 in 2013 and 2012, respectively	`AccountsReceivableNetCurrent`	$2.78M	USD	Point-in-time
Inventories, net	`InventoryNet`	$14.92M	USD	Point-in-time
Inventories, net	`InventoryNet`	$14.33M	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
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.06M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.23M	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`	9.50M	shares	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$42.24K	USD	Point-in-time
Common stock authorized shares	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$102.06K	USD	Point-in-time
Common stock issued shares	`CommonStockSharesIssued`	4.04M	shares	Point-in-time
Common stock issued shares	`CommonStockSharesIssued`	4.05M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$108.51K	USD	Point-in-time
Common stock outstanding shares	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$242.15K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$309.80K	USD	Point-in-time
Common stock outstanding shares	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.75M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.56M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$11.90M	USD	Point-in-time
Assets held for lease, net	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$122.32K	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	`Goodwill`	$993.73K	USD	Point-in-time
Goodwill	`Goodwill`	$993.73K	USD	Point-in-time
Total assets	`Assets`	$32.77M	USD	Point-in-time
Total assets	`Assets`	$31.23M	USD	Point-in-time
Line of credit	`LineOfCredit`	$3.35M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.23M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$654.32K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$806.21K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$147.50K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$232.30K	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`	$17.72K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.96M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.72M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$821.30K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.96M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$952.64K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$897.49K	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$6.25M	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`	$14.47M	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 4,046,552 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 4,046,552 in 2013 and 4,035,052 in 2012	`CommonStockValue`	$40.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.62M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.64M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.49M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$14.73M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$32.77M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$31.23M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$36.46M	USD	Annual
Net sales	`SalesRevenueNet`	$34.23M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$26.42M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$25.86M	USD	Annual
Gross profit	`GrossProfit`	$8.37M	USD	Annual
Gross profit	`GrossProfit`	$10.03M	USD	Annual
Engineering	`EngineeringExpense`	$331.06K	USD	Annual
Engineering	`EngineeringExpense`	$514.09K	USD	Annual
Selling	`SellingAndMarketingExpense`	$1.61M	USD	Annual
Selling	`SellingAndMarketingExpense`	$2.16M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.76M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.88M	USD	Annual
Total expenses	`OperatingExpenses`	$6.55M	USD	Annual
Total expenses	`OperatingExpenses`	$5.70M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.82M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$4.33M	USD	Annual
Interest expense	`InterestExpense`	$296.64K	USD	Annual
Interest expense	`InterestExpense`	$413.59K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$73.80K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$685.34K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$388.70K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-339.80K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$2.21M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$3.99M	USD	Annual
Current tax expense	`IncomeTaxExpenseBenefit`	$1.32M	USD	Annual
Current tax expense	`IncomeTaxExpenseBenefit`	$654.47K	USD	Annual
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Net income	`NetIncomeLoss`	$2.67M	USD	Annual
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.38	USD	Annual
Basic net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.66	USD	Annual
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.66	USD	Annual
Diluted net income per share (in Dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	Annual
Weighted average outstanding shares used to compute basic net income per share (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.04M	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 63 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Net income	`NetIncomeLoss`	$2.67M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$34.52K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$29.81K	USD	Annual
Impairment of Asset Available for Sale	`ImpairmentOfLongLivedAssetsToBeDisposedOf`	$94.65K	USD	Annual
Gain on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$601.68K	USD	Annual
Depreciation expense	`Depreciation`	$792.91K	USD	Annual
Depreciation expense	`Depreciation`	$704.46K	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	-	USD	Annual
Amortization expense	`AmortizationOfIntangibleAssets`	$60.00K	USD	Annual
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$7.52K	USD	Annual
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$-7.65K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$41.72K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$111.14K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$229.41K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$739.98K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-769.64K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$130.62K	USD	Annual
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$108.51K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-67.65K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$110.87K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$151.88K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$312.58K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.05M	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.11M	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-84.80K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-106.18K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$470.30K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-821.30K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$596.96K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-279.72K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.00M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.34K	USD	Annual
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$842.12K	USD	Annual
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$799.60K	USD	Annual
Return of asset held for lease	`ProceedsFromReturnOfAssetHeldForLease`	$146.90K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.34M	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.80M	USD	Annual
Proceeds from sale of Armstrong, IA land and Salem, SD building	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$835.53K	USD	Annual
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-1.39M	USD	Annual
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$3.35M	USD	Annual
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$228.34K	USD	Annual
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$2.88M	USD	Annual
Repayment of term debt	`RepaymentsOfLongTermDebt`	$1.21M	USD	Annual
Repayment of term debt	`RepaymentsOfLongTermDebt`	$869.99K	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$46.39K	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.11K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$403.58K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$404.65K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$226.57K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.01M	USD	Annual
Net increase/(decrease) in cash	`CashPeriodIncreaseDecrease`	$-1.34M	USD	Annual
Net increase/(decrease) in cash	`CashPeriodIncreaseDecrease`	$1.43M	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$118.93K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$118.93K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Interest	`InterestPaid`	$411.74K	USD	Annual
Interest	`InterestPaid`	$296.64K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.64M	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.05M	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance, November 30	`StockholdersEquity`	$18.29M	USD	Point-in-time
Balance, November 30	`StockholdersEquity`	$17.07M	USD	Point-in-time
Balance, November 30	`StockholdersEquity`	$14.73M	USD	Point-in-time
Balance, November 30 (in Shares)	`CommonStockSharesOutstanding`	4.04M	shares	Point-in-time
Balance, November 30 (in Shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$9.11K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$46.39K	USD	Annual
Exercise of stock options (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	2,000.00	shares	Annual
Exercise of stock options (in Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	9,000.00	shares	Annual
Stock based compensation	`ShareBasedCompensation`	$34.52K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$29.81K	USD	Annual
Shares issued for purchase of UHC	`StockIssuedDuringPeriodValueAcquisitions`	$35.55K	USD	Annual
Dividends paid, $0.10/$0.10 per share	`DividendsCash`	$404.65K	USD	Annual
Dividends paid, $0.10/$0.10 per share	`DividendsCash`	$403.58K	USD	Annual
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Net income	`NetIncomeLoss`	$2.67M	USD	Annual

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