10-K Filing

R F INDUSTRIES LTD CIK: 740664 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001437749-20-026051`
Period End Date	20201031
Filing Date	20201229
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	rfil-20201031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 30 Cash Flow Statement 52 Stockholders Equity 18

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$23.00K	USD	Point-in-time
Trade accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$66.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.80M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.54M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $66 and $23, respectively	`AccountsReceivableNetCurrent`	$5.67M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $66 and $23, respectively	`AccountsReceivableNetCurrent`	$12.19M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	21.25M	shares	Point-in-time
Inventories	`InventoryNet`	$8.59M	USD	Point-in-time
Inventories	`InventoryNet`	$8.24M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	9.46M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	9.81M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	9.81M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$813.00K	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	9.46M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$685.00K	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$33.66M	USD	Point-in-time
TOTAL CURRENT ASSETS	`AssetsCurrent`	$30.86M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.60M	USD	Point-in-time
Equipment and tooling	`MachineryAndEquipmentGross`	$3.82M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$1.07M	USD	Point-in-time
Furniture and office equipment	`FurnitureAndFixturesGross`	$998.00K	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$4.60M	USD	Point-in-time
Property, Plant and Equipment, Gross, Ending Balance	`PropertyPlantAndEquipmentGross`	$4.89M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$3.76M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$4.08M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$810.00K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$839.00K	USD	Point-in-time
Operating lease right of use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease right of use assets, net	`OperatingLeaseRightOfUseAsset`	$1.42M	USD	Point-in-time
Goodwill	`Goodwill`	$2.47M	USD	Point-in-time
Goodwill	`Goodwill`	$1.34M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$3.18M	USD	Point-in-time
Amortizable intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$1.09M	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$657.00K	USD	Point-in-time
Non-amortizable intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$1.17M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$834.00K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$44.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$68.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$70.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$37.70M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$40.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.48M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$3.65M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.57M	USD	Point-in-time
Current portion of PPP Loan	`LongTermDebtCurrent`	$1.70M	USD	Point-in-time
Current portion of PPP Loan	`LongTermDebtCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$21.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$43.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	-	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$874.00K	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$6.66M	USD	Point-in-time
TOTAL CURRENT LIABILITIES	`LiabilitiesCurrent`	$6.08M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$635.00K	USD	Point-in-time
PPP Loan	`LongTermDebtNoncurrent`	$1.09M	USD	Point-in-time
PPP Loan	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$370.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$87.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$6.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$8.76M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock - authorized 21,250,000 and 20,000,000 shares of $0.01 par value; 9,814,118 and 9,462,267 shares issued and outstanding at October 31, 2020 and October 31, 2019, respectively	`CommonStockValue`	$98.00K	USD	Point-in-time
Common stock - authorized 21,250,000 and 20,000,000 shares of $0.01 par value; 9,814,118 and 9,462,267 shares issued and outstanding at October 31, 2020 and October 31, 2019, respectively	`CommonStockValue`	$95.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$22.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.02M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$31.53M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$32.06M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$27.78M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$37.70M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$40.82M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$43.04M	USD	Annual
Net sales	`RevenueFromContractWithCustomerIncludingAssessedTax`	$55.33M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$31.48M	USD	Annual
Cost of sales	`CostOfGoodsAndServicesSold`	$39.69M	USD	Annual
Gross profit	`GrossProfit`	$11.57M	USD	Annual
Gross profit	`GrossProfit`	$15.64M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$1.99M	USD	Annual
Engineering	`ResearchAndDevelopmentExpense`	$1.47M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$9.98M	USD	Annual
Selling and general	`SellingGeneralAndAdministrativeExpense`	$9.71M	USD	Annual
Total operating expense	`OperatingExpenses`	$11.97M	USD	Annual
Total operating expense	`OperatingExpenses`	$11.18M	USD	Annual
Operating (loss) income	`OperatingIncomeLoss`	$4.46M	USD	Annual
Operating (loss) income	`OperatingIncomeLoss`	$-403.00K	USD	Annual
Other (loss) income	`NonoperatingIncomeExpense`	$-45.00K	USD	Annual
Other (loss) income	`NonoperatingIncomeExpense`	$98.00K	USD	Annual
(Loss) income before (benefit) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-448.00K	USD	Annual
(Loss) income before (benefit) provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.56M	USD	Annual
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$-367.00K	USD	Annual
(Benefit) provision for income taxes	`IncomeTaxExpenseBenefit`	$1.04M	USD	Annual
Consolidated net (loss) income	`NetIncomeLoss`	$-81.00K	USD	Annual
Consolidated net (loss) income	`NetIncomeLoss`	$3.52M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.01	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.01	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.36	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.36M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	9.68M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.85M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	9.68M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Consolidated net (loss) income	`NetIncomeLoss`	$-81.00K	USD	Annual
Consolidated net (loss) income	`NetIncomeLoss`	$3.52M	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$16.00K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$21.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$563.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.01M	USD	Annual
Share-based Payment Arrangement, Noncash Expense, Total	`ShareBasedCompensation`	$556.00K	USD	Annual
Share-based Payment Arrangement, Noncash Expense, Total	`ShareBasedCompensation`	$317.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-790.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-43.00K	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.64M	USD	Annual
Trade accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.78M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$657.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-442.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-218.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$113.00K	USD	Annual
Right of use asset	`IncreaseDecreaseInRightOfUseAssets`	-	USD	Annual
Right of use asset	`IncreaseDecreaseInRightOfUseAssets`	$-88.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$1.00K	USD	Annual
Other long-term assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$2.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.04M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$106.00K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.37M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-211.00K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$22.00K	USD	Annual
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$21.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-966.00K	USD	Annual
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$75.00K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.71M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.55M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$235.00K	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$538.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-996.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.14M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$660.00K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$445.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$388.00K	USD	Annual
Dividends paid	`PaymentsOfDividendsCommonStock`	$748.00K	USD	Annual
Proceeds from PPP Loan	`ProceedsFromIssuanceOfLongTermDebt`	$2.79M	USD	Annual
Proceeds from PPP Loan	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.85M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-88.00K	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.79M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.26M	USD	Annual
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.80M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.33M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.54M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.80M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.33M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$12.54M	USD	Point-in-time
Supplemental cash flow information income taxes paid	`IncomeTaxesPaid`	$415.00K	USD	Annual
Supplemental cash flow information income taxes paid	`IncomeTaxesPaid`	$739.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$31.53M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.78M	USD	Point-in-time
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	171,066.00	shares	Annual
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	241,209.00	shares	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$660.00K	USD	Annual
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$445.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$317.00K	USD	Annual
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$473.00K	USD	Annual
Dividends	`DividendsCommonStockCash`	$388.00K	USD	Annual
Dividends	`DividendsCommonStockCash`	$748.00K	USD	Annual
Consolidated net income (A)	`NetIncomeLoss`	$-81.00K	USD	Annual
Consolidated net income (A)	`NetIncomeLoss`	$3.52M	USD	Annual
Issuance of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	Annual
Issuance of common shares	`StockIssuedDuringPeriodValueNewIssues`	$82.00K	USD	Annual
Balance	`StockholdersEquity`	$31.53M	USD	Point-in-time
Balance	`StockholdersEquity`	$32.06M	USD	Point-in-time
Balance	`StockholdersEquity`	$27.78M	USD	Point-in-time

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