10-Q Filing

ACME UNITED CORP CIK: 2098 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-023601`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	acu-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 38 Cash Flow Statement 56 Stockholders Equity 19 Comprehensive Income 6

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$523.00K	USD	Point-in-time
Accounts receivable, allowance	`AllowanceForDoubtfulAccountsReceivableCurrent`	$790.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$2.50	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$2.50	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	8.00M	shares	Point-in-time
Accounts receivable, less allowance of $790 in 2020 and $523 in 2019	`AccountsReceivableNetCurrent`	$25.48M	USD	Point-in-time
Accounts receivable, less allowance of $790 in 2020 and $523 in 2019	`AccountsReceivableNetCurrent`	$27.41M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Inventories	`InventoryNet`	$39.26M	USD	Point-in-time
Inventories	`InventoryNet`	$36.25M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	4.84M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.58M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.93M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.50M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	1.49M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$73.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$69.86M	USD	Point-in-time
Land	`Land`	$1.42M	USD	Point-in-time
Land	`Land`	$1.42M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$10.40M	USD	Point-in-time
Buildings	`BuildingsAndImprovementsGross`	$10.10M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$19.36M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$19.11M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$31.18M	USD	Point-in-time
Total property, plant and equipment	`PropertyPlantAndEquipmentGross`	$30.63M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$17.08M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$16.59M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$14.10M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$14.04M	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$2.71M	USD	Point-in-time
Operating lease right-of-use asset, net	`OperatingLeaseRightOfUseAsset`	$2.99M	USD	Point-in-time
Goodwill	`Goodwill`	$4.70M	USD	Point-in-time
Goodwill	`Goodwill`	$4.70M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$15.79M	USD	Point-in-time
Intangible assets, less accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$16.67M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$89.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$89.00K	USD	Point-in-time
Total assets	`Assets`	$110.75M	USD	Point-in-time
Total assets	`Assets`	$108.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.69M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.19M	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$1.00M	USD	Point-in-time
Operating lease liability - current portion	`OperatingLeaseLiabilityCurrent`	$1.05M	USD	Point-in-time
Current portion of mortgage payable	`SecuredDebtCurrent`	$267.00K	USD	Point-in-time
Current portion of mortgage payable	`SecuredDebtCurrent`	$267.00K	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$8.58M	USD	Point-in-time
Other accrued liabilities	`AccruedLiabilitiesCurrent`	$6.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.58M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$33.24M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$33.85M	USD	Point-in-time
Mortgage payable, net of current portion	`MortgagePayableNonCurrent`	$3.11M	USD	Point-in-time
Mortgage payable, net of current portion	`MortgagePayableNonCurrent`	$3.18M	USD	Point-in-time
Operating lease liability - non-current portion	`OperatingLeaseLiabilityNoncurrent`	$1.76M	USD	Point-in-time
Operating lease liability - non-current portion	`OperatingLeaseLiabilityNoncurrent`	$1.96M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$83.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$158.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$55.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$52.30M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $2.50: authorized 8,000,000 shares; issued - 4,838,071 shares in 2020 and 2019, including treasury stock	`CommonStockValue`	$12.09M	USD	Point-in-time
Common stock, par value $2.50: authorized 8,000,000 shares; issued - 4,838,071 shares in 2020 and 2019, including treasury stock	`CommonStockValue`	$12.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.26M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$51.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$52.45M	USD	Point-in-time
Treasury stock, at cost - 1,497,957 shares in 2020 and 1,487,238 in 2019	`TreasuryStockValue`	$14.23M	USD	Point-in-time
Treasury stock, at cost - 1,497,957 shares in 2020 and 1,487,238 in 2019	`TreasuryStockValue`	$14.45M	USD	Point-in-time
Minimum pension liability	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$522.00K	USD	Point-in-time
Minimum pension liability	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$522.00K	USD	Point-in-time
Translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-1.79M	USD	Point-in-time
Translation adjustment	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-1.47M	USD	Point-in-time
Total accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.99M	USD	Point-in-time
Total accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.32M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$55.82M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$52.87M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$55.70M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$52.33M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$110.75M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$108.12M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$35.77M	USD	1 Quarter
Net sales	`Revenues`	$31.37M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$19.57M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$22.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$11.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$13.53M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$11.52M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$10.27M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.53M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.01M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$510.00K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$322.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$7.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-501.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-315.00K	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-43.00K	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$2.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-358.00K	USD	1 Quarter
Total other expense, net	`NonoperatingIncomeExpense`	$-499.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.03M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.65M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$228.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$375.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$807.00K	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.36	USD	1 Quarter
Weighted average number of common shares outstanding-denominator used for basic per share computations	`WeightedAverageNumberOfSharesOutstandingBasic`	3.35M	shares	1 Quarter
Weighted average number of common shares outstanding-denominator used for basic per share computations	`WeightedAverageNumberOfSharesOutstandingBasic`	3.35M	shares	1 Quarter
Weighted average number of dilutive stock options outstanding	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	170,000.00	shares	1 Quarter
Weighted average number of dilutive stock options outstanding	`WeightedAverageNumberDilutedSharesOutstandingAdjustment`	41,000.00	shares	1 Quarter
Denominator used for diluted per share computations	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.39M	shares	1 Quarter
Denominator used for diluted per share computations	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.52M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.12	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.12	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$807.00K	USD	1 Quarter
Depreciation	`Depreciation`	$568.00K	USD	1 Quarter
Depreciation	`Depreciation`	$551.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$329.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$308.00K	USD	1 Quarter
Non-cash lease expense	`NonCashLeaseExpense`	$6.00K	USD	1 Quarter
Non-cash lease expense	`NonCashLeaseExpense`	$38.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$243.00K	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$212.00K	USD	1 Quarter
Provision for bad debt	`ProvisionForDoubtfulAccounts`	$252.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$132.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$1.72M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.03M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-770.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$70.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$120.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.54M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.51M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.60M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-591.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-484.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-1.49M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$793.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-683.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$438.00K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$597.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-438.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.67M	USD	1 Quarter
Net borrowings of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$1.06M	USD	1 Quarter
Net borrowings of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$612.00K	USD	1 Quarter
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$457.03K	USD	1 Quarter
Cash settlement of stock options	`PaymentsRelatedToCashSettlementOfShareBasedCompensation`	$80.00K	USD	1 Quarter
Repayments on mortgage	`RepaymentsOnMortgage`	$67.00K	USD	1 Quarter
Repayments on mortgage	`RepaymentsOnMortgage`	$67.00K	USD	1 Quarter
Distributions to shareholders	`PaymentsOfDividends`	$405.00K	USD	1 Quarter
Distributions to shareholders	`PaymentsOfDividends`	$400.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfEquity`	$214.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-526.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$505.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-146.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-611.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.55M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$4.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.41M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$4.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$319.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$170.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$487.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$340.00K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$55.82M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$52.87M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$55.70M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$52.33M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$807.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$1.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-329.00K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$243.00K	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$212.00K	USD	1 Quarter
Distributions to shareholders	`DividendsCommonStockCash`	$400.00K	USD	1 Quarter
Distributions to shareholders	`DividendsCommonStockCash`	$405.00K	USD	1 Quarter
Cash settlement of stock options	`AdjustmentsToAdditionalPaidInCapitalCashSettlementOfStockOptions`	$80.00K	USD	1 Quarter
Cash settlement of stock options	`AdjustmentsToAdditionalPaidInCapitalCashSettlementOfStockOptions`	$457.00K	USD	1 Quarter
Purchase of treasury stock	`StockRepurchasedDuringPeriodValue`	$214.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$55.82M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$52.87M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$55.70M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$52.33M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.28M	USD	1 Quarter
Net income	`NetIncomeLoss`	$807.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$1.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-329.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$948.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$808.00K	USD	1 Quarter

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