10-Q Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001437749-15-006393`
Period End Date	20150228
Filing Date	20150331
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	artw-20150228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 36 Cash Flow Statement 54

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.17K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$42.80K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$902.04K	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`	$86.92K	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 $42,801 and $35,175 in 2015 and 2014, respectively	`AccountsReceivableNetCurrent`	$2.79M	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 $42,801 and $35,175 in 2015 and 2014, respectively	`AccountsReceivableNetCurrent`	$2.96M	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
Undesignated preferred stock - issued shares (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$16.13M	USD	Point-in-time
Undesignated preferred stock - issued shares (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.27M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.26M	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
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$17.54K	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 (in shares)	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$100.42K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$7.90K	USD	Point-in-time
Common stock authorized shares (in shares)	`CommonStockSharesAuthorized`	9.50M	shares	Point-in-time
Common stock issued shares (in shares)	`CommonStockSharesIssued`	4.06M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$125.23K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$458.07K	USD	Point-in-time
Common stock issued shares (in shares)	`CommonStockSharesIssued`	4.05M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$21.56M	USD	Point-in-time
Common stock outstanding shares (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Common stock outstanding shares (in shares)	`CommonStockSharesOutstanding`	4.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.07M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$11.53M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$11.68M	USD	Point-in-time
Assets held for lease, net	`DisposalGroupIncludingDiscontinuedOperationLongLivedAssets`	$42.55K	USD	Point-in-time
Assets held for lease, net	`DisposalGroupIncludingDiscontinuedOperationLongLivedAssets`	$58.50K	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
Other Assets	`OtherAssetsNoncurrent`	$45.20K	USD	Point-in-time
Total assets	`Assets`	$32.85M	USD	Point-in-time
Total assets	`Assets`	$34.18M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.47M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$2.57M	USD	Point-in-time
Less current portion of term debt	`LongTermDebtCurrent`	$1.29M	USD	Point-in-time
Less current portion of term debt	`LongTermDebtCurrent`	$1.28M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$874.65K	USD	Point-in-time
Customer Deposits	`CustomerDepositsCurrent`	$95.41K	USD	Point-in-time
Customer Deposits	`CustomerDepositsCurrent`	$786.84K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$170.16K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$96.38K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.18M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$5.62M	USD	Point-in-time
Long Term debt, excluding current portion	`LongTermDebtNoncurrent`	$5.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.59M	USD	Point-in-time
Commitments and Contingencies (Notes 6 and 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Notes 6 and 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2015 and 2014; issued and outstanding 0 shares in 2015 and 2014.	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2015 and 2014; issued and outstanding 0 shares in 2015 and 2014.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2015 and 2014; issued and outstanding 4,059,552 in 2015 and 4,048,552 in 2014	`CommonStockValue`	$40.60K	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2015 and 2014; issued and outstanding 4,059,552 in 2015 and 4,048,552 in 2014	`CommonStockValue`	$40.49K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.65M	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`	$16.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$19.23M	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`	$34.18M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$7.29M	USD	1 Quarter
Sales	`SalesRevenueNet`	$6.24M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$4.90M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$5.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.05M	USD	1 Quarter
Engineering	`EngineeringExpense`	$115.68K	USD	1 Quarter
Engineering	`EngineeringExpense`	$113.54K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$536.15K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$564.71K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$985.66K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.04M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.72M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.64M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$329.15K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-294.94K	USD	1 Quarter
Interest expense	`InterestExpense`	$53.94K	USD	1 Quarter
Interest expense	`InterestExpense`	$79.48K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-4.86K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$5.67K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-84.35K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-48.26K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$244.80K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-343.20K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$76.61K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-84.89K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-258.31K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$168.19K	USD	1 Quarter
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Weighted average outstanding shares used to compute basic net income per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.05M	shares	1 Quarter
Weighted average outstanding shares used to compute basic net income per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	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
Weighted average outstanding shares used to compute diluted net income per share (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.05M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-258.31K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$168.19K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$13.14K	USD	1 Quarter
Loss on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.27K	USD	1 Quarter
Loss on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Depreciation expense	`Depreciation`	$229.45K	USD	1 Quarter
Depreciation expense	`Depreciation`	$212.99K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$-5.97K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$7.63K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$14.79K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-594.98K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-167.64K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.04M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$998.19K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$116.82K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-92.51K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$381.29K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$330.68K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$171.53K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$250.68K	USD	1 Quarter
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$22.24K	USD	1 Quarter
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$91.32K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$691.42K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$1.13M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-173.28K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-288.11K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$77.47K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$166.52K	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$432.03K	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$86.53K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$14.46K	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-72.07K	USD	1 Quarter
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-432.03K	USD	1 Quarter
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$452.81K	USD	1 Quarter
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$904.26K	USD	1 Quarter
Repayment of term debt	`RepaymentsOfLongTermDebt`	$308.33K	USD	1 Quarter
Repayment of term debt	`RepaymentsOfLongTermDebt`	$316.91K	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$202.43K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$384.93K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$144.48K	USD	1 Quarter
Net increase/(decrease) in cash	`CashPeriodIncreaseDecrease`	$-121.03K	USD	1 Quarter
Net increase/(decrease) in cash	`CashPeriodIncreaseDecrease`	$390.32K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$902.04K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$511.72K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$86.92K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$902.04K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$511.72K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$86.92K	USD	Point-in-time
Interest	`InterestPaid`	$80.86K	USD	1 Quarter
Interest	`InterestPaid`	$53.94K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$32.90K	USD	1 Quarter

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