10-Q Filing

ARTS WAY MANUFACTURING CO INC CIK: 7623 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001437749-16-029494`
Period End Date	20160229
Filing Date	20160414
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	artw-20160229.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 36 Cash Flow Statement 56

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$18.81K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$45.49K	USD	Point-in-time
Undesignated preferred stock - par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$629.26K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$902.04K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$447.33K	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
Accounts receivable-customers, net of allowance for doubtful accounts of $45,489 and $18,810 in 2016 and 2015, respectively	`AccountsReceivableNetCurrent`	$2.81M	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 $45,489 and $18,810 in 2016 and 2015, respectively	`AccountsReceivableNetCurrent`	$2.06M	USD	Point-in-time
Undesignated preferred stock - authorized shares (in shares)	`PreferredStockSharesAuthorized`	500,000.00	shares	Point-in-time
Undesignated preferred stock - issued shares (in shares)	`PreferredStockSharesIssued`	0.00	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
Inventories, net	`InventoryNet`	$14.68M	USD	Point-in-time
Undesignated preferred stock - outstanding shares (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred taxes	`DeferredTaxAssetsLiabilitiesNetCurrent`	$1.14M	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
Cost and Profit in Excess of Billings	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$206.67K	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`	$125.38K	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`	$310.13K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$345.91K	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`	$59.34K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$228.74K	USD	Point-in-time
Common stock - issued shares (in shares)	`CommonStockSharesIssued`	4.10M	shares	Point-in-time
Common stock - outstanding shares (in shares)	`CommonStockSharesOutstanding`	4.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$19.93M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.96M	USD	Point-in-time
Common stock - outstanding shares (in shares)	`CommonStockSharesOutstanding`	4.10M	shares	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.69M	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$9.53M	USD	Point-in-time
Assets held for sale, net	`DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent`	$114.86K	USD	Point-in-time
Assets held for sale, net	`DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNoncurrent`	$1.25M	USD	Point-in-time
Goodwill	`Goodwill`	$375.00K	USD	Point-in-time
Goodwill	`Goodwill`	$375.00K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$47.48K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$53.94K	USD	Point-in-time
Total assets	`Assets`	$31.33M	USD	Point-in-time
Total assets	`Assets`	$30.00M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.96M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.79M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$848.65K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$629.81K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$522.40K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$166.63K	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$432.91K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$93.00K	USD	Point-in-time
Billings in Excess of Cost and Profit	`BillingsInExcessOfCostCurrent`	$86.86K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.28M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.34M	USD	Point-in-time
Deferred taxes	`DeferredTaxLiabilitiesNoncurrent`	$846.96K	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`	$3.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.39M	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 2016 and 2015; issued and outstanding 0 shares in 2016 and 2015.	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock - $0.01 par value. Authorized 500,000 shares in 2016 and 2015; issued and outstanding 0 shares in 2016 and 2015.	`PreferredStockValue`	-	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2016 and 2015; issued and outstanding 4,100,052 in 2016 and 4,061,052 in 2015	`CommonStockValue`	$40.61K	USD	Point-in-time
Common stock $0.01 par value. Authorized 9,500,000 shares in 2016 and 2015; issued and outstanding 4,100,052 in 2016 and 4,061,052 in 2015	`CommonStockValue`	$41.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.67M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.68M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.81M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$18.52M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$30.00M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$31.33M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$6.39M	USD	1 Quarter
Sales	`SalesRevenueNet`	$7.29M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$4.69M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$5.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.05M	USD	1 Quarter
Engineering	`EngineeringExpense`	$116.17K	USD	1 Quarter
Engineering	`EngineeringExpense`	$115.68K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$564.71K	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$483.80K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$953.10K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.04M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.55M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$1.72M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$329.15K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$149.23K	USD	1 Quarter
Interest expense	`InterestExpense`	$79.48K	USD	1 Quarter
Interest expense	`InterestExpense`	$74.03K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$-4.86K	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$45.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-29.03K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-84.35K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$244.80K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$120.19K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$39.23K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$76.61K	USD	1 Quarter
Net income	`NetIncomeLoss`	$80.96K	USD	1 Quarter
Net income	`NetIncomeLoss`	$168.19K	USD	1 Quarter
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Basic net income per share (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted net income per share (in dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Diluted net income per share (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Weighted average outstanding shares used to compute basic net income per share (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.07M	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`	4.07M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$80.96K	USD	1 Quarter
Net income	`NetIncomeLoss`	$168.19K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$13.14K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$11.25K	USD	1 Quarter
(Gain)/Loss on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-7.27K	USD	1 Quarter
(Gain)/Loss on disposal of property, plant, and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$40.07K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$229.45K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$202.01K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$26.68K	USD	1 Quarter
Bad debt expense (recovery)	`ProvisionForDoubtfulAccounts`	$7.63K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.26K	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$14.79K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-167.64K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$778.04K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.01M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.04M	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-35.78K	USD	1 Quarter
Income taxes receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-92.51K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$330.68K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$164.46K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$171.53K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$107.41K	USD	1 Quarter
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$91.32K	USD	1 Quarter
Contracts in progress, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$87.43K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$266.29K	USD	1 Quarter
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$691.42K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-231.85K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-173.28K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$619.54K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$77.47K	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.69K	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$86.53K	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$14.46K	USD	1 Quarter
Net proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.17M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$1.14M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-72.07K	USD	1 Quarter
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-169.48K	USD	1 Quarter
Net change in line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$904.26K	USD	1 Quarter
Repayment of term debt	`RepaymentsOfLongTermDebt`	$1.40M	USD	1 Quarter
Repayment of term debt	`RepaymentsOfLongTermDebt`	$316.91K	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.57M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$384.92K	USD	1 Quarter
Net increase in cash	`CashPeriodIncreaseDecrease`	$181.93K	USD	1 Quarter
Net increase in cash	`CashPeriodIncreaseDecrease`	$390.32K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$629.26K	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$902.04K	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`	$629.26K	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$902.04K	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`	$80.86K	USD	1 Quarter
Interest	`InterestPaid`	$79.36K	USD	1 Quarter

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