10-K Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001437749-16-024657`
Period End Date	20151130
Filing Date	20160203
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	artw-20151130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 36 Cash Flow Statement 62 Stockholders Equity 17

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$35.17K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$18.81K	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`	$207.95K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$447.33K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$511.72K	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 $18,810 and $35,175 in 2015 and 2014, respectively	`AccountsReceivableNetCurrent`	$2.96M	USD	Point-in-time
Accounts receivable-customers, net of allowance for doubtful accounts of $18,810 and $35,175 in 2015 and 2014, respectively	`AccountsReceivableNetCurrent`	$2.06M	USD	Point-in-time
Undesignated preferred stock - authorized shares (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$15.70M	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
Inventories, net	`InventoryNet`	$15.09M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.26M	USD	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.15M	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
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$206.67K	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
Income taxes receivable	`IncomeTaxesReceivable`	$345.91K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$100.42K	USD	Point-in-time
Common stock - issued shares (in shares)	`CommonStockSharesIssued`	4.05M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$59.34K	USD	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
Total current assets	`AssetsCurrent`	$20.07M	USD	Point-in-time
Common stock - outstanding shares (in shares)	`CommonStockSharesOutstanding`	4.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.96M	USD	Point-in-time
Common stock - outstanding shares (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$11.68M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.69M	USD	Point-in-time
Assets held for lease, net	`AssetsHeldForLease`	$58.50K	USD	Point-in-time
Assets held for lease, net	`AssetsHeldForLease`	-	USD	Point-in-time
Assets held for sale, net	`DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent`	$1.25M	USD	Point-in-time
Assets held for sale, net	`DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent`	-	USD	Point-in-time
Goodwill	`Goodwill`	$375.00K	USD	Point-in-time
Goodwill	`Goodwill`	$993.73K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$53.94K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$47.36K	USD	Point-in-time
Total assets	`Assets`	$32.85M	USD	Point-in-time
Total assets	`Assets`	$31.33M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$2.57M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.96M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.28M	USD	Point-in-time
Current portion of term debt	`LongTermDebtCurrent`	$1.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$874.65K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$522.40K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$95.41K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$166.63K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$96.38K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$86.86K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.50M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$1.14M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$846.96K	USD	Point-in-time
Long-term debt, excluding current portion	`LongTermDebtNoncurrent`	$4.63M	USD	Point-in-time
Long-term debt, excluding current portion	`LongTermDebtNoncurrent`	$5.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.81M	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 4,061,052 in 2015 and 4,048,552 in 2014	`CommonStockValue`	$40.61K	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2015 and 2014; issued and outstanding 4,061,052 in 2015 and 4,048,552 in 2014	`CommonStockValue`	$40.49K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.64M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.57M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.52M	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`	$31.33M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$32.85M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$36.17M	USD	Annual
Net sales	`SalesRevenueNet`	$27.94M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$20.95M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$27.45M	USD	Annual
Gross profit	`GrossProfit`	$8.72M	USD	Annual
Gross profit	`GrossProfit`	$6.98M	USD	Annual
Engineering	`EngineeringExpense`	$482.06K	USD	Annual
Engineering	`EngineeringExpense`	$500.82K	USD	Annual
Selling	`SellingAndMarketingExpense`	$2.37M	USD	Annual
Selling	`SellingAndMarketingExpense`	$2.15M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.21M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.74M	USD	Annual
Total expenses	`OperatingExpenses`	$7.39M	USD	Annual
Total expenses	`OperatingExpenses`	$7.06M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-403.66K	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$1.66M	USD	Annual
Interest expense	`InterestExpense`	$329.45K	USD	Annual
Interest expense	`InterestExpense`	$351.90K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$-10.43K	USD	Annual
Other	`OtherNonoperatingIncomeExpense`	$-131.94K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-461.40K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-362.33K	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$1.30M	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-865.06K	USD	Annual
Current tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-307.22K	USD	Annual
Current tax expense (benefit)	`IncomeTaxExpenseBenefit`	$367.26K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-557.84K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$935.25K	USD	Annual
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$0.23	USD	Annual
Basic net income (loss) per share (in dollars per share)	`EarningsPerShareBasic`	$-0.14	USD	Annual
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$0.23	USD	Annual
Diluted net income (loss) per share (in dollars per share)	`EarningsPerShareDiluted`	$-0.14	USD	Annual
Weighted average outstanding shares used to compute basic net income (loss) per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.05M	shares	Annual
Weighted average outstanding shares used to compute basic net income (loss) per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.06M	shares	Annual
Weighted average outstanding shares used to compute diluted net income (loss) per share (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.05M	shares	Annual
Weighted average outstanding shares used to compute diluted net income (loss) per share (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.06M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-557.84K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$935.25K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$14.50K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$28.48K	USD	Annual
(Gain) Loss on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$6.27K	USD	Annual
(Gain) Loss on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-123.41K	USD	Annual
Depreciation expense	`Depreciation`	$906.70K	USD	Annual
Depreciation expense	`Depreciation`	$929.18K	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Impairment of goodwill	`GoodwillImpairmentLoss`	$618.73K	USD	Annual
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$4.54K	USD	Annual
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$-4.61K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$180.92K	USD	Annual
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-157.09K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-908.70K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-33.53K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$609.80K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$166.75K	USD	Annual
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-8.10K	USD	Annual
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$245.50K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-59.31K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-69.56K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$68.45K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-352.25K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$103.36K	USD	Annual
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-198.65K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$71.22K	USD	Annual
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-52.09K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-134.15K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-304.42K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.94M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$285.04K	USD	Annual
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$633.08K	USD	Annual
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$292.54K	USD	Annual
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$38.91K	USD	Annual
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$15.87K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-617.21K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-253.64K	USD	Annual
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.39M	USD	Annual
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-780.89K	USD	Annual
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Proceeds from term debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.00M	USD	Annual
Repayment of term debt	`RepaymentsOfLongTermDebt`	$1.28M	USD	Annual
Repayment of term debt	`RepaymentsOfLongTermDebt`	$1.25M	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.76K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	$202.43K	USD	Annual
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	-	USD	Annual
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-95.78K	USD	Annual
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.02M	USD	Annual
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$-64.38K	USD	Annual
Net increase (decrease) in cash	`CashPeriodIncreaseDecrease`	$303.77K	USD	Annual
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$447.33K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$511.72K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$207.95K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$447.33K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$511.72K	USD	Point-in-time
Interest	`InterestPaid`	$328.53K	USD	Annual
Interest	`InterestPaid`	$356.47K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$299.99K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$282.61K	USD	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	4.06M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Balance	`StockholdersEquity`	$18.52M	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	`StockIssuedDuringPeriodValueStockOptionsExercised`	$7.76K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$28.48K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$14.50K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-557.84K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$935.25K	USD	Annual
Balance (in shares)	`CommonStockSharesOutstanding`	4.06M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	4.05M	shares	Point-in-time
Balance	`StockholdersEquity`	$18.52M	USD	Point-in-time
Balance	`StockholdersEquity`	$18.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$19.25M	USD	Point-in-time
Dividends paid, $0.05 per share	`DividendsCash`	$202.43K	USD	Annual

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