10-Q Filing

RICHARDSON ELECTRONICS, LTD. CIK: 355948 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-050388`
Period End Date	20210831
Filing Date	20211007
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	rell-10q_20210828_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 30 Cash Flow Statement 49 Stockholders Equity 21

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$202.00K	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$205.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$43.32M	USD	Point-in-time
Accounts receivable, less allowance of $205 and $202, respectively	`AccountsReceivableNetCurrent`	$29.72M	USD	Point-in-time
Accounts receivable, less allowance of $205 and $202, respectively	`AccountsReceivableNetCurrent`	$25.10M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$63.51M	USD	Point-in-time
Inventories, net	`InventoryNet`	$67.65M	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`	$2.43M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.38M	USD	Point-in-time
Preferred Stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$134.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$136.22M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$17.07M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$17.13M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.27M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.20M	USD	Point-in-time
Lease ROU asset	`OperatingAndFinanceLeaseRightOfUseAsset`	$4.12M	USD	Point-in-time
Lease ROU asset	`OperatingAndFinanceLeaseRightOfUseAsset`	$2.57M	USD	Point-in-time
Non-current deferred income taxes	`DeferredIncomeTaxAssetsNet`	$541.00K	USD	Point-in-time
Non-current deferred income taxes	`DeferredIncomeTaxAssetsNet`	$534.00K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$22.45M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$23.99M	USD	Point-in-time
Total assets	`Assets`	$160.21M	USD	Point-in-time
Total assets	`Assets`	$156.75M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$17.42M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.98M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$14.18M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$14.53M	USD	Point-in-time
Lease liability current	`OperatingAndFinanceLeaseLiabilityCurrent`	$1.07M	USD	Point-in-time
Lease liability current	`OperatingAndFinanceLeaseLiabilityCurrent`	$1.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$32.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.25M	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$274.00K	USD	Point-in-time
Non-current deferred income tax liabilities	`AccruedIncomeTaxesNoncurrent`	$242.00K	USD	Point-in-time
Lease liability non-current	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$2.64M	USD	Point-in-time
Lease liability non-current	`OperatingAndFinanceLeaseLiabilityNoncurrent`	$1.36M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.37M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$1.36M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$2.97M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$4.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.53M	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`	$62.71M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$62.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$53.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$55.15M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.89M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.89M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$121.56M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$118.66M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$119.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$122.68M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$160.21M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$156.75M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$53.70M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$38.81M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$37.41M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$26.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$16.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$12.36M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$13.47M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$12.98M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$2.83M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-617.00K	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$18.00K	USD	1 Quarter
Investment/interest income	`InvestmentIncomeNet`	$17.00K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$27.00K	USD	1 Quarter
Foreign exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$442.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$16.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-18.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-26.00K	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-406.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.02M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.80M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$124.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$167.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.15M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.63M	USD	1 Quarter
Foreign currency translation (loss) gain, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.14M	USD	1 Quarter
Foreign currency translation (loss) gain, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.63M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$989.00K	USD	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.07M	shares	1 Quarter
Common shares - Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	11.47M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$2.63M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-1.15M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$829.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$873.00K	USD	1 Quarter
Inventory provisions	`InventoryProvisions`	$83.00K	USD	1 Quarter
Inventory provisions	`InventoryProvisions`	$237.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$219.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$201.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$2.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$35.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.01M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$854.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$4.96M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.62M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-109.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$62.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$607.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.73M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.78M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$480.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$202.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-266.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.87M	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`	$837.00K	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromSaleOfLongtermInvestments`	$16.00M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireLongtermInvestments`	$9.00M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-837.00K	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.28M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$52.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$786.00K	USD	1 Quarter
Cash dividends paid	`PaymentsOfDividendsCommonStock`	$780.00K	USD	1 Quarter
Payment of financing lease principal	`FinanceLeasePrincipalPayments`	$45.00K	USD	1 Quarter
Payment of financing lease principal	`FinanceLeasePrincipalPayments`	$45.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-825.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-779.00K	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`	$-409.00K	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-6.90M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.96M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.42M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.32M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.49M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.54M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.42M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$33.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.54M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$121.56M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$118.66M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$119.07M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$122.68M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-1.15M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.63M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$2.14M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.00M	USD	1 Quarter
Restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$131.00K	USD	1 Quarter
Restricted stock	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$128.00K	USD	1 Quarter
Stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$70.00K	USD	1 Quarter
Stock options	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$91.00K	USD	1 Quarter
Options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$52.00K	USD	1 Quarter
Common ($0.060 per share)	`DividendsCommonStockCash`	$667.00K	USD	1 Quarter
Common ($0.060 per share)	`DividendsCommonStockCash`	$673.00K	USD	1 Quarter
Class B ($0.054 per share)	`DividendsCommonStockCashClassB`	$113.00K	USD	1 Quarter
Class B ($0.054 per share)	`DividendsCommonStockCashClassB`	$113.00K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$121.56M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$118.66M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$119.07M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$122.68M	USD	Point-in-time

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