10-Q Filing

RICHARDSON ELECTRONICS, LTD. CIK: 355948 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-036765`
Period End Date	20190831
Filing Date	20191010
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	rell-20190831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 31 Cash Flow Statement 50 Stockholders Equity 13

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$339.00K	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$296.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$46.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.02M	USD	Point-in-time
Accounts receivable, less allowance of $296 and $339, respectively	`AccountsReceivableNetCurrent`	$24.30M	USD	Point-in-time
Accounts receivable, less allowance of $296 and $339, respectively	`AccountsReceivableNetCurrent`	$21.95M	USD	Point-in-time
Inventories, net	`InventoryNet`	$53.23M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$54.14M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred Stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.07M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.42M	USD	Point-in-time
Preferred Stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock in treasury (in shares)	`TreasuryStockCommonShares`	0.00	shares	Point-in-time
Investments - current	`ShortTermInvestments`	-	USD	Point-in-time
Investments - current	`ShortTermInvestments`	$8.00M	USD	Point-in-time
Common stock in treasury (in shares)	`TreasuryStockCommonShares`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$124.96M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$130.61M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$18.64M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$19.11M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.76M	USD	Point-in-time
Lease ROU asset	`OperatingAndFinanceLeaseRightOfUseAsset`	$4.11M	USD	Point-in-time
Lease ROU asset	`OperatingAndFinanceLeaseRightOfUseAsset`	-	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$529.00K	USD	Point-in-time
Non-current deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$579.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$22.40M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$26.02M	USD	Point-in-time
Total assets	`Assets`	$150.99M	USD	Point-in-time
Total assets	`Assets`	$153.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.94M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.34M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$11.27M	USD	Point-in-time
Lease liability current	`LeaseLiabilityCurrent`	-	USD	Point-in-time
Lease liability current	`LeaseLiabilityCurrent`	$1.54M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.22M	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$212.00K	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$216.00K	USD	Point-in-time
Lease liability non-current	`LeaseLiabilityNoncurrent`	-	USD	Point-in-time
Lease liability non-current	`LeaseLiabilityNoncurrent`	$2.68M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$832.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$692.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$1.04M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$3.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$29.26M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$61.01M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$61.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$59.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$59.09M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.39M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.67M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$123.76M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$122.61M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$150.99M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$153.02M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$40.65M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$44.16M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$27.70M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$30.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.95M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.10M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.85M	USD	1 Quarter
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-1.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$854.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$103.00K	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$126.00K	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$120.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$110.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-286.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$8.00K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$-152.00K	USD	1 Quarter
Total other (income) expense	`NonoperatingIncomeExpense`	$231.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$702.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$334.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$271.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$177.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$157.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$431.00K	USD	1 Quarter
Foreign currency translation loss, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-740.00K	USD	1 Quarter
Foreign currency translation loss, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-716.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-559.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-309.00K	USD	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.11M	shares	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.09M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$157.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$431.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$764.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$833.00K	USD	1 Quarter
Inventory provisions	`InventoryProvisions`	$161.00K	USD	1 Quarter
Inventory provisions	`InventoryProvisions`	$215.00K	USD	1 Quarter
Loss on disposal of assets	`AssetsDisposedOfByMethodOtherThanSaleInPeriodOfDispositionGainLossOnDisposition1`	$-1.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$188.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$165.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-48.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$58.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$198.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.16M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.36M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-77.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-37.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-625.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.42M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.96M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-876.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$227.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-56.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-13.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.05M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.63M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$339.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$1.07M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromSaleOfLongtermInvestments`	$8.00M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireLongtermInvestments`	$2.30M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.66M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.37M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$192.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$764.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$775.00K	USD	1 Quarter
Payment of financing lease principal	`FinanceLeasePrincipalPayments`	$30.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$4.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-801.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-572.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-368.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-413.00K	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.44M	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-7.99M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.46M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.02M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$60.47M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$52.48M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$46.46M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.02M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$60.47M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$123.76M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$122.61M	USD	Point-in-time
Net income	`NetIncomeLoss`	$157.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$431.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-740.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-716.00K	USD	1 Quarter
Restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$99.00K	USD	1 Quarter
Stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$89.00K	USD	1 Quarter
Restricted stock issuance	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$4.00K	USD	1 Quarter
Common ($0.060 per share)	`DividendsCommonStockCash`	$662.00K	USD	1 Quarter
Class B ($0.054 per share)	`DividendsCommonStockCashClassB`	$113.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$123.76M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$122.61M	USD	Point-in-time

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