10-Q Filing

NATIONAL PRESTO INDUSTRIES INC CIK: 80172 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001437749-21-012315`
Period End Date	20210331
Filing Date	20210514
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	npk20210416_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 32 Cash Flow Statement 48 Stockholders Equity 20

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	12.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$65.12M	USD	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	12.00M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$52.09M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$68.98M	USD	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	7.44M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$48.12M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$53.67M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$31.44M	USD	Point-in-time
Finished goods	`InventoryFinishedGoodsNetOfReserves`	$35.86M	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$96.46M	USD	Point-in-time
Work in process	`InventoryWorkInProcess`	$96.91M	USD	Point-in-time
Raw materials	`InventoryRawMaterials`	$7.58M	USD	Point-in-time
Raw materials	`InventoryRawMaterials`	$8.34M	USD	Point-in-time
Total inventory	`InventoryNet`	$135.49M	USD	Point-in-time
Total inventory	`InventoryNet`	$141.11M	USD	Point-in-time
Notes receivable, current	`NotesAndLoansReceivableNetCurrent`	$2.87M	USD	Point-in-time
Notes receivable, current	`NotesAndLoansReceivableNetCurrent`	$2.87M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.29M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$357.24M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$319.60M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$96.49M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$97.61M	USD	Point-in-time
Less allowance for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$59.38M	USD	Point-in-time
Less allowance for depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$60.05M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$37.11M	USD	Point-in-time
PROPERTY, PLANT AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$37.56M	USD	Point-in-time
GOODWILL	`Goodwill`	$15.32M	USD	Point-in-time
GOODWILL	`Goodwill`	$15.32M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$2.84M	USD	Point-in-time
INTANGIBLE ASSETS, net	`IntangibleAssetsNetExcludingGoodwill`	$2.79M	USD	Point-in-time
NOTES RECEIVABLE	`NotesAndLoansReceivableNetNoncurrent`	$7.40M	USD	Point-in-time
NOTES RECEIVABLE	`NotesAndLoansReceivableNetNoncurrent`	$7.46M	USD	Point-in-time
RIGHT-OF-USE LEASE ASSETS	`OperatingLeaseRightOfUseAsset`	$3.22M	USD	Point-in-time
RIGHT-OF-USE LEASE ASSETS	`OperatingLeaseRightOfUseAsset`	$3.36M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxAssetsNet`	$3.01M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxAssetsNet`	$2.99M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$6.29M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$6.91M	USD	Point-in-time
Assets, Total	`Assets`	$395.23M	USD	Point-in-time
Assets, Total	`Assets`	$433.17M	USD	Point-in-time
Assets, Total	`Assets`	$383.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$33.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$27.68M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$4.78M	USD	Point-in-time
Federal and state income taxes	`AccruedIncomeTaxesCurrent`	$7.43M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$573.00K	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityCurrent`	$581.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$16.27M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$15.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$51.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$55.09M	USD	Point-in-time
LEASE LIABILITIES - NON-CURRENT	`OperatingLeaseLiabilityNoncurrent`	$2.64M	USD	Point-in-time
LEASE LIABILITIES - NON-CURRENT	`OperatingLeaseLiabilityNoncurrent`	$2.79M	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$940.00K	USD	Point-in-time
OTHER NON-CURRENT LIABILITIES	`OtherLiabilitiesNoncurrent`	$940.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$58.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.11M	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $1 par value: Authorized: 12,000,000 shares Issued: 7,440,518 shares	`CommonStockValue`	$7.44M	USD	Point-in-time
Common stock, $1 par value: Authorized: 12,000,000 shares Issued: 7,440,518 shares	`CommonStockValue`	$7.44M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$13.01M	USD	Point-in-time
Paid-in capital	`AdditionalPaidInCapitalCommonStock`	$12.44M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$332.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$367.63M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$105.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$154.00K	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$387.66M	USD	Point-in-time
Stockholders' Equity before Treasury Stock	`StockholdersEquityBeforeTreasuryStock`	$353.09M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$13.31M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockValue`	$12.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$367.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$334.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$374.35M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$340.12M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$433.17M	USD	Point-in-time
Liabilities and Equity, Total	`LiabilitiesAndStockholdersEquity`	$395.23M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$65.64M	USD	1 Quarter
Net sales	`Revenues`	$81.03M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$62.67M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$49.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.36M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.12M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$7.36M	USD	1 Quarter
Selling and general expenses	`SellingGeneralAndAdministrativeExpense`	$6.79M	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$60.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$54.00K	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$10.94M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$9.26M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$1.27M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$700.00K	USD	1 Quarter
Earnings before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.64M	USD	1 Quarter
Earnings before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$10.53M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.31M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.65M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.22M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.05M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.03M	shares	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$1.28	USD	1 Quarter
Basic and diluted (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$1.17	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.22M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-49.00K	USD	1 Quarter
Unrealized (loss) gain on available-for-sale securities	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$93.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.31M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.94M	USD	1 Quarter
Cash dividends declared and paid per common share (in dollars per share)	`CashDividendsDeclaredAndPaid`	$6.25	USD	1 Quarter
Cash dividends declared and paid per common share (in dollars per share)	`CashDividendsDeclaredAndPaid`	$6.00	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$8.22M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Provision for depreciation	`Depreciation`	$694.00K	USD	1 Quarter
Provision for depreciation	`Depreciation`	$677.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$60.00K	USD	1 Quarter
Intangibles amortization	`AmortizationOfIntangibleAssets`	$54.00K	USD	1 Quarter
Non-cash retirement plan expense	`NoncashRetirementPlanExpense`	-	USD	1 Quarter
Non-cash retirement plan expense	`NoncashRetirementPlanExpense`	$206.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-211.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-400.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.23M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-5.55M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.62M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.70M	USD	1 Quarter
Other assets and current assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.50M	USD	1 Quarter
Other assets and current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-530.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.70M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-6.23M	USD	1 Quarter
Federal and state income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.43M	USD	1 Quarter
Federal and state income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.93M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.58M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.80M	USD	1 Quarter
Marketable securities purchased	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Marketable securities purchased	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$14.21M	USD	1 Quarter
Marketable securities - maturities and sales	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$9.11M	USD	1 Quarter
Marketable securities - maturities and sales	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$16.95M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$357.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.12M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.46M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.83M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$44.08M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$42.17M	USD	1 Quarter
Proceeds from sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$528.00K	USD	1 Quarter
Proceeds from sale of treasury stock	`ProceedsFromSaleOfTreasuryStock`	$572.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-30.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-27.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-43.54M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-41.67M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-20.91M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-36.54M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$65.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$79.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.04M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$65.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$79.58M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$86.04M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Regular dividends per share (in dollars per share)	`RegularDividendsPerSharePaid`	$1.00	USD	1 Quarter
Regular dividends per share (in dollars per share)	`RegularDividendsPerSharePaid`	$1.00	USD	1 Quarter
Extra dividends per share (in dollars per share)	`ExtraDividendsPerSharePaid`	$5.25	USD	1 Quarter
Extra dividends per share (in dollars per share)	`ExtraDividendsPerSharePaid`	$5.00	USD	1 Quarter
Balance	`StockholdersEquity`	$367.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$334.69M	USD	Point-in-time
Balance	`StockholdersEquity`	$374.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$340.12M	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$8.22M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$8.99M	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$-49.00K	USD	1 Quarter
Unrealized gain on available-for-sale securities, net of tax	`OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent`	$93.00K	USD	1 Quarter
Dividends paid	`DividendsCommonStock`	$44.08M	USD	1 Quarter
Dividends paid	`DividendsCommonStock`	$42.17M	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$590.00K	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$910.00K	USD	1 Quarter
Balance	`StockholdersEquity`	$367.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$334.69M	USD	Point-in-time
Balance	`StockholdersEquity`	$374.35M	USD	Point-in-time
Balance	`StockholdersEquity`	$340.12M	USD	Point-in-time

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