10-K/A Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 FY 2014

Filing Information

Form Type	10-K/A
Accession Number	`0001437749-15-005255`
Period End Date	20141130
Filing Date	20150317
Fiscal Year	2014
Fiscal Period	FY
XBRL Instance	artw-20141130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 36 Cash Flow Statement 61 Stockholders Equity 19

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.47K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.17K	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	`CashAndCashEquivalentsAtCarryingValue`	$511.72K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Undesignated preferred stock - authorized shares (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $35,175 and $35,474 as of November 30	`AccountsReceivableNetCurrent`	$2.96M	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $35,175 and $35,474 as of November 30	`AccountsReceivableNetCurrent`	$3.00M	USD	Point-in-time
Undesignated preferred stock - authorized shares (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$15.09M	USD	Point-in-time
Inventories, net	`InventoryNet`	$14.92M	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
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
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.26M	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
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$42.24K	USD	Point-in-time
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$17.54K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$108.51K	USD	Point-in-time
Common stock authorized shares (in shares)	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$100.42K	USD	Point-in-time
Common stock authorized shares (in shares)	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Common stock issued shares (in shares)	`CommonStockSharesIssued`	4.05M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$242.15K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$125.23K	USD	Point-in-time
Common stock issued shares (in shares)	`CommonStockSharesIssued`	4.05M	shares	Point-in-time
Common stock outstanding shares (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Common stock outstanding shares (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.07M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$11.68M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$11.90M	USD	Point-in-time
Assets held for lease, net	`DisposalGroupIncludingDiscontinuedOperationLongLivedAssets`	$58.50K	USD	Point-in-time
Assets held for lease, net	`DisposalGroupIncludingDiscontinuedOperationLongLivedAssets`	$122.32K	USD	Point-in-time
Goodwill	`Goodwill`	$993.73K	USD	Point-in-time
Goodwill	`Goodwill`	$993.73K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$47.36K	USD	Point-in-time
Total assets	`Assets`	$32.77M	USD	Point-in-time
Total assets	`Assets`	$32.85M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$2.57M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.35M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.28M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.23M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$874.65K	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`	$95.41K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$17.72K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$96.38K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.72M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.27M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$952.64K	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$5.95M	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$6.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.47M	USD	Point-in-time
Commitments and Contingencies (Notes 7, 8, and 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Notes 7, 8, and 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2014 and 2013; issued and outstanding 0 shares in 2014 and 2013.	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2014 and 2013; issued and outstanding 0 shares in 2014 and 2013.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2014 and 2013; issued and outstanding 4,048,552 in 2014 and 4,046,552 in 2013	`CommonStockValue`	$40.49K	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2014 and 2013; issued and outstanding 4,048,552 in 2014 and 4,046,552 in 2013	`CommonStockValue`	$40.47K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.64M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.64M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$17.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.25M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$32.85M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$32.77M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$34.23M	USD	Annual
Sales	`SalesRevenueNet`	$36.17M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$25.86M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$27.45M	USD	Annual
Gross profit	`GrossProfit`	$8.37M	USD	Annual
Gross profit	`GrossProfit`	$8.72M	USD	Annual
Engineering	`EngineeringExpense`	$482.06K	USD	Annual
Engineering	`EngineeringExpense`	$514.09K	USD	Annual
Selling	`SellingAndMarketingExpense`	$2.37M	USD	Annual
Selling	`SellingAndMarketingExpense`	$2.16M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.21M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.88M	USD	Annual
Total expenses	`OperatingExpenses`	$7.06M	USD	Annual
Total expenses	`OperatingExpenses`	$6.55M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.82M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$1.66M	USD	Annual
Interest expense	`InterestExpense`	$351.90K	USD	Annual
Interest expense	`InterestExpense`	$296.64K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$685.34K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$-10.43K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$388.70K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-362.33K	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.30M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$2.21M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$654.47K	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$367.26K	USD	Annual
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Net income	`NetIncomeLoss`	$935.25K	USD	Annual
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$0.23	USD	Annual
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	Annual
Diluted net income per share (in dollars per share)	`EarningsPerShareDiluted`	$0.23	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`	4.05M	shares	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 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 61 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Net income	`NetIncomeLoss`	$935.25K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$14.50K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$29.81K	USD	Annual
(Gain) on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$6.27K	USD	Annual
(Gain) on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$601.68K	USD	Annual
Depreciation expense	`Depreciation`	$704.46K	USD	Annual
Depreciation expense	`Depreciation`	$906.70K	USD	Annual
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$7.52K	USD	Annual
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$4.54K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$111.14K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-157.09K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-33.53K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$229.41K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$166.75K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-769.64K	USD	Annual
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$108.51K	USD	Annual
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-8.10K	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-67.65K	USD	Annual
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-69.56K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$68.45K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$151.88K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$103.36K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.05M	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-52.09K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-84.80K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-821.30K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-279.72K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-134.15K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.34K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.94M	USD	Annual
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$842.12K	USD	Annual
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$633.08K	USD	Annual
Return of asset held for lease	`ProceedsFromReturnOfAssetHeldForLease`	$146.90K	USD	Annual
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$15.87K	USD	Annual
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$835.53K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.34M	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-617.21K	USD	Annual
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$3.35M	USD	Annual
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-780.89K	USD	Annual
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$228.34K	USD	Annual
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.00M	USD	Annual
Repayment of term debt	`RepaymentsOfLongTermDebt`	$1.21M	USD	Annual
Repayment of term debt	`RepaymentsOfLongTermDebt`	$1.25M	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$46.39K	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.76K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$404.65K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.02M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.01M	USD	Annual
Net increase/(decrease) in cash	`CashPeriodIncreaseDecrease`	$-1.34M	USD	Annual
Net increase/(decrease) in cash	`CashPeriodIncreaseDecrease`	$303.77K	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$511.72K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$511.72K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Interest	`InterestPaid`	$296.64K	USD	Annual
Interest	`InterestPaid`	$356.47K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$299.99K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$1.64M	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Balance	`StockholdersEquity`	$17.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$18.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.25M	USD	Point-in-time
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	2,000.00	shares	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	9,000.00	shares	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$7.76K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$46.39K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$29.81K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$14.50K	USD	Annual
Dividends paid, $0.10 per share	`DividendsCash`	$404.65K	USD	Annual
Net income	`NetIncomeLoss`	$1.55M	USD	Annual
Net income	`NetIncomeLoss`	$935.25K	USD	Annual
Balance (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Balance	`StockholdersEquity`	$17.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$18.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.25M	USD	Point-in-time

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