10-Q Filing

RICHARDSON ELECTRONICS, LTD. CIK: 355948 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-046071`
Period End Date	20200831
Filing Date	20201008
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	rell-10q_20200829_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 31 Cash Flow Statement 51 Stockholders Equity 21

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$254.00K	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$334.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.54M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.49M	USD	Point-in-time
Accounts receivable, less allowance of $254 and $334, respectively	`AccountsReceivableNetCurrent`	$21.59M	USD	Point-in-time
Accounts receivable, less allowance of $254 and $334, respectively	`AccountsReceivableNetCurrent`	$20.20M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$57.49M	USD	Point-in-time
Inventories, net	`InventoryNet`	$60.16M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.39M	USD	Point-in-time
Preferred Stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.44M	USD	Point-in-time
Preferred Stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Investments - current	`ShortTermInvestments`	$16.00M	USD	Point-in-time
Investments - current	`ShortTermInvestments`	$9.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$126.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$126.67M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$17.61M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$17.67M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.45M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.50M	USD	Point-in-time
Lease ROU asset	`OperatingAndFinanceLeaseRightOfUseAsset`	$3.15M	USD	Point-in-time
Lease ROU asset	`OperatingAndFinanceLeaseRightOfUseAsset`	$3.42M	USD	Point-in-time
Non-current deferred income taxes	`DeferredIncomeTaxAssetsNet`	$468.00K	USD	Point-in-time
Non-current deferred income taxes	`DeferredIncomeTaxAssetsNet`	$456.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$24.05M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$23.68M	USD	Point-in-time
Total assets	`Assets`	$150.72M	USD	Point-in-time
Total assets	`Assets`	$150.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.81M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$12.30M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$10.32M	USD	Point-in-time
Lease liability current	`OperatingAndFinanceLeaseLiabilityCurrent`	$1.49M	USD	Point-in-time
Lease liability current	`OperatingAndFinanceLeaseLiabilityCurrent`	$1.42M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.18M	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$161.00K	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$170.00K	USD	Point-in-time
Lease liability non-current	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$1.94M	USD	Point-in-time
Lease liability non-current	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$1.70M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$777.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$841.00K	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.71M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$31.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$32.06M	USD	Point-in-time
Preferred stock, $1.00 par value, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$61.95M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$61.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$52.84M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$54.76M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.63M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.49M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$119.07M	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 stockholders equity	`StockholdersEquity`	$118.66M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$150.32M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$150.72M	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`	$38.81M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$27.70M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$26.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.36M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.98M	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 (loss) income	`OperatingIncomeLoss`	$-617.00K	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$103.00K	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$120.00K	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$18.00K	USD	1 Quarter
Foreign exchange loss (income)	`ForeignCurrencyTransactionGainLossBeforeTax`	$-442.00K	USD	1 Quarter
Foreign exchange loss (income)	`ForeignCurrencyTransactionGainLossBeforeTax`	$110.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$18.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Total other expense (income)	`NonoperatingIncomeExpense`	$-406.00K	USD	1 Quarter
Total other expense (income)	`NonoperatingIncomeExpense`	$231.00K	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.02M	USD	1 Quarter
(Loss) income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$334.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$124.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$177.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$157.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.15M	USD	1 Quarter
Foreign currency translation gain (loss), net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-716.00K	USD	1 Quarter
Foreign currency translation gain (loss), net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.14M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-559.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$989.00K	USD	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.09M	shares	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	13.17M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-1.15M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$157.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$833.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$873.00K	USD	1 Quarter
Inventory provisions	`InventoryProvisions`	$161.00K	USD	1 Quarter
Inventory provisions	`InventoryProvisions`	$237.00K	USD	1 Quarter
Loss on disposal of assets	`AssetsDisposedOfByMethodOtherThanSaleInPeriodOfDispositionGainLossOnDisposition1`	$-1.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$201.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$188.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-48.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$2.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$854.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.16M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.36M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.62M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-625.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-109.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.96M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.73M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.78M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-876.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-56.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$202.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.05M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.36M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$718.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$339.00K	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromSaleOfLongtermInvestments`	$16.00M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromSaleOfLongtermInvestments`	$8.00M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireLongtermInvestments`	$9.00M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.66M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.28M	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$780.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$775.00K	USD	1 Quarter
Payment of financing lease principal	`FinanceLeasePrincipalPayments`	$30.00K	USD	1 Quarter
Payment of financing lease principal	`FinanceLeasePrincipalPayments`	$45.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$4.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-825.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-801.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$860.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-368.00K	USD	1 Quarter
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.44M	USD	1 Quarter
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.96M	USD	1 Quarter
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`	$30.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.49M	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`	$30.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.49M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$119.07M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$123.76M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$122.61M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$118.66M	USD	Point-in-time
Net (loss) income	`NetIncomeLoss`	$157.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-1.15M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-716.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.14M	USD	1 Quarter
Restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$99.00K	USD	1 Quarter
Restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$131.00K	USD	1 Quarter
Stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$89.00K	USD	1 Quarter
Stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$70.00K	USD	1 Quarter
Restricted stock issuance	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	$4.00K	USD	1 Quarter
Common ($0.060 and $0.060 per share)	`DividendsCommonStockCash`	$667.00K	USD	1 Quarter
Common ($0.060 and $0.060 per share)	`DividendsCommonStockCash`	$662.00K	USD	1 Quarter
Class B ($0.054 and $0.054 per share)	`DividendsCommonStockCashClassB`	$113.00K	USD	1 Quarter
Class B ($0.054 and $0.054 per share)	`DividendsCommonStockCashClassB`	$113.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$119.07M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$123.76M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$122.61M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$118.66M	USD	Point-in-time

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