2016 Q3 Form 10-Q Financial Statement
#000143774916039537 Filed on October 06, 2016
Income Statement
| Concept | 2016 Q3 | 2015 Q3 |
|---|---|---|
| Revenue | $6.431M | $6.514M |
| YoY Change | -1.28% | -43.77% |
| Cost Of Revenue | $5.190M | $5.252M |
| YoY Change | -1.19% | -40.86% |
| Gross Profit | $1.242M | $1.262M |
| YoY Change | -1.62% | -53.33% |
| Gross Profit Margin | 19.31% | 19.37% |
| Selling, General & Admin | $1.335M | $1.414M |
| YoY Change | -5.59% | -15.17% |
| % of Gross Profit | 107.53% | 112.06% |
| Research & Development | $120.0K | $130.0K |
| YoY Change | -7.69% | 0.0% |
| % of Gross Profit | 9.66% | 10.3% |
| Depreciation & Amortization | $170.0K | $150.0K |
| YoY Change | 13.33% | -21.05% |
| % of Gross Profit | 13.69% | 11.89% |
| Operating Expenses | $1.459M | $2.161M |
| YoY Change | -32.49% | 20.3% |
| Operating Profit | -$217.2K | -$898.8K |
| YoY Change | -75.84% | -199.01% |
| Interest Expense | $60.54K | $78.73K |
| YoY Change | -23.1% | -16.35% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$6.653K | -$173.2K |
| YoY Change | -96.16% | 173.8% |
| Pretax Income | -$223.8K | -$1.072M |
| YoY Change | -79.12% | -226.93% |
| Income Tax | -$74.14K | -$355.6K |
| % Of Pretax Income | ||
| Net Earnings | -$288.3K | -$795.6K |
| YoY Change | -63.77% | -242.53% |
| Net Earnings / Revenue | -4.48% | -12.21% |
| Basic Earnings Per Share | -$0.07 | -$0.20 |
| Diluted Earnings Per Share | -$0.07 | -$0.20 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 4.106M | 4.061M |
| Diluted Shares Outstanding | 4.106M | 4.061M |
Balance Sheet
| Concept | 2016 Q3 | 2015 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $500.0K | $640.0K |
| YoY Change | -21.88% | 166.67% |
| Cash & Equivalents | $501.1K | $643.5K |
| Short-Term Investments | ||
| Other Short-Term Assets | $272.9K | $320.7K |
| YoY Change | -14.92% | -81.35% |
| Inventory | $13.67M | $16.49M |
| Prepaid Expenses | ||
| Receivables | $2.700M | $1.876M |
| Other Receivables | $150.0K | $260.0K |
| Total Short-Term Assets | $19.22M | $21.01M |
| YoY Change | -8.55% | -5.39% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $7.409M | $11.25M |
| YoY Change | -34.14% | -5.38% |
| Goodwill | $375.0K | $375.0K |
| YoY Change | 0.0% | |
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $65.94K | $56.20K |
| YoY Change | 17.33% | |
| Total Long-Term Assets | $9.768M | $11.69M |
| YoY Change | -16.45% | -9.23% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $19.22M | $21.01M |
| Total Long-Term Assets | $9.768M | $11.69M |
| Total Assets | $28.98M | $32.70M |
| YoY Change | -11.38% | -6.8% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.118M | $1.226M |
| YoY Change | -8.77% | 22.58% |
| Accrued Expenses | $944.0K | $1.229M |
| YoY Change | -23.19% | -18.61% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $3.430M | $4.030M |
| YoY Change | -14.89% | -16.74% |
| Long-Term Debt Due | $1.846M | $1.313M |
| YoY Change | 40.61% | 3.36% |
| Total Short-Term Liabilities | $7.714M | $8.040M |
| YoY Change | -4.05% | -9.05% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $1.530M | $4.961M |
| YoY Change | -69.16% | -20.88% |
| Other Long-Term Liabilities | $620.0K | |
| YoY Change | ||
| Total Long-Term Liabilities | $1.530M | $4.961M |
| YoY Change | -69.16% | -20.88% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $7.714M | $8.040M |
| Total Long-Term Liabilities | $1.530M | $4.961M |
| Total Liabilities | $10.66M | $14.02M |
| YoY Change | -24.0% | -13.55% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $15.55M | $15.97M |
| YoY Change | -2.67% | |
| Common Stock | $41.09K | $40.61K |
| YoY Change | 1.18% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $18.33M | $18.68M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $28.98M | $32.70M |
| YoY Change | -11.38% | -6.8% |
Cashflow Statement
| Concept | 2016 Q3 | 2015 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$288.3K | -$795.6K |
| YoY Change | -63.77% | -242.53% |
| Depreciation, Depletion And Amortization | $170.0K | $150.0K |
| YoY Change | 13.33% | -21.05% |
| Cash From Operating Activities | -$830.0K | -$270.0K |
| YoY Change | 207.41% | -37.21% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$50.00K | -$80.00K |
| YoY Change | -37.5% | 100.0% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$10.00K | $0.00 |
| YoY Change | ||
| Cash From Investing Activities | -$60.00K | -$80.00K |
| YoY Change | -25.0% | 100.0% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 1.120M | 390.0K |
| YoY Change | 187.18% | -15.22% |
| NET CHANGE | ||
| Cash From Operating Activities | -830.0K | -270.0K |
| Cash From Investing Activities | -60.00K | -80.00K |
| Cash From Financing Activities | 1.120M | 390.0K |
| Net Change In Cash | 230.0K | 40.00K |
| YoY Change | 475.0% | -500.0% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$830.0K | -$270.0K |
| Capital Expenditures | -$50.00K | -$80.00K |
| Free Cash Flow | -$780.0K | -$190.0K |
| YoY Change | 310.53% | -51.28% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2016Q3 | artw |
Disposal Group Including Discontinued Operation Notes Payable Current
DisposalGroupIncludingDiscontinuedOperationNotesPayableCurrent
|
747980 | |
| CY2015Q4 | artw |
Disposal Group Including Discontinued Operation Notes Payable Current
DisposalGroupIncludingDiscontinuedOperationNotesPayableCurrent
|
842768 | |
| CY2016Q3 | artw |
Engineering Expense
EngineeringExpense
|
123653 | |
| CY2015Q3 | artw |
Engineering Expense
EngineeringExpense
|
127889 | |
| artw |
Engineering Expense
EngineeringExpense
|
314794 | ||
| artw |
Engineering Expense
EngineeringExpense
|
330650 | ||
| artw |
Standard Product Warranty Term
StandardProductWarrantyTerm
|
P1Y | ||
| CY2016Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1118261 | |
| CY2015Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
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495867 | |
| CY2016Q3 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
2700314 | |
| CY2015Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
1882528 | |
| CY2016Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
944025 | |
| CY2015Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1191364 | |
| CY2016Q3 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
2737376 | |
| CY2015Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
2667010 | |
| CY2016Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
31417 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
70846 | ||
| CY2015Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
15339 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
28484 | ||
| CY2016Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
42317 | |
| CY2015Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
18778 | |
| CY2016Q3 | us-gaap |
Assets
Assets
|
28983435 | |
| CY2015Q4 | us-gaap |
Assets
Assets
|
31331608 | |
| CY2016Q3 | us-gaap |
Assets Current
AssetsCurrent
|
19215477 | |
| CY2015Q4 | us-gaap |
Assets Current
AssetsCurrent
|
19962319 | |
| CY2016Q3 | us-gaap |
Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
|
114858 | |
| CY2015Q4 | us-gaap |
Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
|
1245432 | |
| CY2016Q3 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
430451 | |
| CY2015Q4 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
694556 | |
| CY2015Q3 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-113122 | |
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Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-387321 | ||
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Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-191146 | ||
| CY2016Q3 | us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
-68600 | |
| CY2016Q3 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-207203 | |
| CY2016Q3 | us-gaap |
Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
|
64799 | |
| CY2015Q4 | us-gaap |
Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
|
86858 | |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
447231 | |
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
511716 | |
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
501053 | |
| CY2015Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
643540 | |
| us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
53822 | ||
| us-gaap |
Cash Period Increase Decrease
CashPeriodIncreaseDecrease
|
131824 | ||
| us-gaap |
Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
|
-94789 | ||
| us-gaap |
Cash Provided By Used In Financing Activities Discontinued Operations
CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
|
-92046 | ||
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Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
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Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
-10257 | ||
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Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
82632 | ||
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Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
-36142 | ||
| CY2016Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2015Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2016Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
9500000 | |
| CY2015Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
9500000 | |
| CY2016Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
4109052 | |
| CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
4061052 | |
| CY2016Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
4109052 | |
| CY2015Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
4061052 | |
| CY2016Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
41091 | |
| CY2015Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
40611 | |
| CY2016Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
5189532 | |
| CY2015Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
5252241 | |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
13088340 | ||
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
15188639 | ||
| CY2016Q3 | us-gaap |
Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
|
331969 | |
| CY2015Q4 | us-gaap |
Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
|
206672 | |
| CY2016Q3 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
62166 | |
| CY2015Q4 | us-gaap |
Customer Deposits Current
CustomerDepositsCurrent
|
162797 | |
| CY2016Q3 | us-gaap |
Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
|
1158079 | |
| CY2015Q4 | us-gaap |
Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
|
1146242 | |
| CY2016Q3 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
793828 | |
| CY2015Q4 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
846960 | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
516904 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
612903 | ||
| us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt"></td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">10)</div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Recently Issued Accounting Pronouncements</div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Revenue from Contracts with Customers</div></div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers” which supersedes the guidance in “Revenue Recognition (Topic 605)” and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period and is to be applied retrospectively, with early application permitted only as of annual reporting periods beginning after December 15, 2016. We are evaluating the new standard, but do not at this time expect this standard to have a material impact on our consolidated financial statements. </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Going Concern</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern” which is authoritative guidance on management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and provide related footnote disclosures, codified in ASC 205-40, <div style="display: inline; font-style: italic;">Going Concern</div>. The guidance provides a definition of the term substantial doubt, requires an evaluation every reporting period including interim periods, provides principles for considering the mitigating effect of management’s plans, requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, requires an express statement and other disclosures when substantial doubt is not alleviated, and requires an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). ASU No. 2015-15 is effective for annual reporting periods ending after December 15, 2016. The Company will adopt this guidance for the fiscal year ending November 30, 2017, and it will apply to each interim and annual period thereafter. Its adoption is not expected to have a material effect on the Company's consolidated financial statements.</div></div> <div style=" MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Inventory</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In July 2015, the FASB issued ASU 2015-11, “Inventory (Topic 330)”, which requires inventory measured using any method other than last-in, first-out or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than the lower of cost or market. ASU No. 2015-11 is effective for fiscal years beginning after December 15, 2016, including interim periods within those years. The Company will adopt this guidance for the year-ended November 30, 2018 including interim periods within that reporting period. Its adoption is not expected to have a material impact on our consolidated financial statements.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Income Taxes</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In November 2015, the FASB issued ASU 2015-17, “Income Taxes (Topic 740)”, to simplify the presentation of deferred income taxes. Under the new standard, both deferred tax liabilities and assets are required to be classified as noncurrent in a classified balance sheet. ASU No. 2015-17 is effective for fiscal years beginning after December 15, 2017 and interim periods within annual periods beginning after December 15, 2018. The Company will adopt this guidance for the year-ended November 30, 2019, and interim periods within the year-ended November 30, 2020. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; text-decoration: underline;">Leases</div></div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In February 2016, the FASB issued ASU 2016-02, “Leases (topic 842)”, which requires a lessee to recognize a right-of-use asset and a lease liability on its balance sheet for all leases with terms of twelve months or greater. This guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. The Company will adopt this guidance for the year-ended November 30, 2020 including interim periods within that reporting period. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div></div> | ||
| us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.06 | ||
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-264685 | ||
| CY2016Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
448446 | |
| CY2015Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
530667 | |
| CY2016Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | |
| CY2015Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.20 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.06 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.10 | ||
| CY2015Q3 | us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
-33937 | |
| us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
-122636 | ||
| us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
-57344 | ||
| CY2016Q3 | us-gaap |
Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
|
1803235 | |
| CY2015Q4 | us-gaap |
Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
|
1870649 | |
| CY2016Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | |
| CY2015Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.20 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.06 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.10 | ||
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
26473 | ||
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
1130 | ||
| CY2016Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
879160 | |
| CY2015Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
906275 | |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2618488 | ||
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2951293 | ||
| CY2016Q3 | us-gaap |
Goodwill
Goodwill
|
375000 | |
| CY2015Q4 | us-gaap |
Goodwill
Goodwill
|
375000 | |
| us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
|||
| us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
618729 | ||
| CY2016Q3 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
||
| CY2015Q3 | us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
618729 | |
| CY2016Q3 | us-gaap |
Gross Profit
GrossProfit
|
1241685 | |
| CY2015Q3 | us-gaap |
Gross Profit
GrossProfit
|
1262086 | |
| us-gaap |
Gross Profit
GrossProfit
|
4353529 | ||
| us-gaap |
Gross Profit
GrossProfit
|
5416293 | ||
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
807 | ||
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-261968 | ||
| CY2016Q3 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-149676 | |
| CY2015Q3 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-716408 | |
| CY2016Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-223818 | |
| CY2015Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-1071978 | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1043 | ||
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-395139 | ||
| CY2016Q3 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.04 | |
| CY2015Q3 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.18 | |
| us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
0 | ||
| us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.06 | ||
| CY2016Q3 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.04 | |
| CY2015Q3 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.18 | |
| us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0 | ||
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-133802 | ||
| CY2016Q3 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-138603 | |
| CY2015Q3 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-79185 | |
| CY2016Q3 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.03 | |
| CY2015Q3 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.02 | |
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.06 | ||
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.03 | ||
| CY2016Q3 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.03 | |
| CY2015Q3 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.02 | |
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.06 | ||
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.03 | ||
| CY2016Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-74142 | |
| CY2015Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-355570 | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
236 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-133171 | ||
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
4872 | ||
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
263674 | ||
| CY2016Q3 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
153871 | |
| CY2015Q4 | us-gaap |
Income Taxes Receivable
IncomeTaxesReceivable
|
345912 | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
622394 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
296353 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
842313 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1107527 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-247339 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-341324 | ||
| us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
-100631 | ||
| us-gaap |
Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
|
9586 | ||
| us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
64969 | ||
| us-gaap |
Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
|
187136 | ||
| us-gaap |
Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
|
|||
| us-gaap |
Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
|
|||
| us-gaap |
Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
|
-192041 | ||
| us-gaap |
Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
|
164596 | ||
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-1517567 | ||
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1406091 | ||
| us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
233758 | ||
| us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
198189 | ||
| us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-147356 | ||
| us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-39771 | ||
| CY2016Q3 | us-gaap |
Interest Expense
InterestExpense
|
60537 | |
| CY2015Q3 | us-gaap |
Interest Expense
InterestExpense
|
78726 | |
| us-gaap |
Interest Expense
InterestExpense
|
182510 | ||
| us-gaap |
Interest Expense
InterestExpense
|
225776 | ||
| us-gaap |
Interest Paid
InterestPaid
|
202007 | ||
| us-gaap |
Interest Paid
InterestPaid
|
242248 | ||
| CY2016Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
7432855 | |
| CY2015Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
8169267 | |
| CY2016Q3 | us-gaap |
Inventory Gross
InventoryGross
|
16597618 | |
| CY2015Q4 | us-gaap |
Inventory Gross
InventoryGross
|
18115246 | |
| CY2016Q3 | us-gaap |
Inventory Net
InventoryNet
|
13666869 | |
| CY2016Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
28983435 | |
| CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
31331608 | |
| CY2016Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7714482 | |
| CY2015Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7338114 | |
| CY2016Q3 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
245427 | |
| CY2015Q4 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
245733 | |
| CY2016Q3 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
|
618194 | |
| CY2015Q4 | us-gaap |
Inventory Net
InventoryNet
|
15184436 | |
| CY2016Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
8767407 | |
| CY2015Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
9699156 | |
| CY2016Q3 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
2930749 | |
| CY2015Q4 | us-gaap |
Inventory Valuation Reserves
InventoryValuationReserves
|
2930810 | |
| CY2016Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
397356 | |
| CY2015Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
246823 | |
| CY2016Q3 | us-gaap |
Liabilities
Liabilities
|
10656601 | |
| CY2015Q4 | us-gaap |
Liabilities
Liabilities
|
12811742 | |
| CY2015Q4 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
|
715946 | |
| CY2016Q3 | us-gaap |
Lines Of Credit Current
LinesOfCreditCurrent
|
3434114 | |
| CY2015Q4 | us-gaap |
Lines Of Credit Current
LinesOfCreditCurrent
|
3959656 | |
| CY2016Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
4123767 | |
| CY2015Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
5949329 | |
| CY2016Q3 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1845690 | |
| CY2015Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1195839 | |
| CY2016Q3 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1530097 | |
| CY2015Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
3910722 | |
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px; width: 700px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 22pt"></td> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">1)</div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Description of the Company</div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Unless otherwise specified, as used in this Quarterly Report on Form 10-Q, the terms “we,” “us,” “our,” “Art’s-Way,” and the “Company,” refer to Art’s-Way Manufacturing Co., Inc., a Delaware corporation headquartered in Armstrong, Iowa, and its wholly-owned subsidiaries.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We began operations as a farm equipment manufacturer in 1956. Since that time, we have become a major worldwide manufacturer of agricultural equipment. Our principal manufacturing plant is located in Armstrong, Iowa.</div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div> <div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We have organized our business into three operating segments. Management separately evaluates the financial results of each segment because each is a strategic business unit offering different products and requiring different technology and marketing strategies. Our agricultural products segment (“Manufacturing”) manufactures farm equipment under the Art’s-Way Manufacturing label and private labels. Our modular buildings segment (“Scientific”) manufactures modular buildings for various uses, commonly animal containment and research laboratories and our tools segment (“Metals”) manufactures steel cutting tools and inserts. During the third quarter of fiscal 2016, we announced the discontinuation of our pressurized vessels segment (“Vessels”) that manufactured pressurized vessels. For more information on discontinued operations, see Note 3 “Discontinued Operations.” For detailed financial information relating to segment reporting, see Note 13 “Segment Information.”</div></div></div> | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2351105 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
300056 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-2256316 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
392102 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
1040048 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-207718 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
1059116 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-197461 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1364879 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
39486 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
1282247 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
75628 | ||
| CY2016Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-288279 | |
| CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-795593 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-263878 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-395770 | ||
| CY2016Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-6653 | |
| CY2015Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-173170 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-66329 | ||
| CY2016Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
272871 | |
| CY2015Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
54742 | |
| CY2016Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
65944 | |
| CY2015Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
53945 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-305956 | ||
| CY2016Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
53884 | |
| CY2015Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-94444 | |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
116181 | ||
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-80180 | ||
| us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
|||
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
3 | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | ||
| CY2016Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
1458850 | |
| CY2015Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
2160894 | |
| us-gaap |
Operating Expenses
OperatingExpenses
|
4286157 | ||
| us-gaap |
Operating Expenses
OperatingExpenses
|
5505476 | ||
| CY2016Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-217165 | |
| CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-898808 | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
67372 | ||
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-89183 | ||
| CY2016Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
329879 | |
| CY2015Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
484166 | |
| us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
202428 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
114376 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
218367 | ||
| CY2016Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | |
| CY2016Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2016Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2016Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| CY2015Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Reclassification</div></div><div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div><div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Certain amounts in the consolidated financial statements of the Company related to the discontinuation of operations at our Vessels division have been reclassified to conform to classifications used in the current year. The reclassifications had no effect on previously reported results of operations or retained earnings.</div></div></div></div></div></div> | ||
| us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
-525542 | ||
| us-gaap |
Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
|
1462172 | ||
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
1173492 | ||
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
20906 | ||
| CY2016Q3 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
165700 | |
| CY2015Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
176531 | |
| CY2016Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7408921 | |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7824263 | |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
24527 | ||
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
2251 | ||
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
1730774 | ||
| CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
15812245 | |
| CY2016Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
6431217 | |
| us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
867642 | ||
| CY2016Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
15548367 | |
| CY2015Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
6514327 | |
| us-gaap |
Sales Revenue Net
SalesRevenueNet
|
17441869 | ||
| us-gaap |
Sales Revenue Net
SalesRevenueNet
|
20604932 | ||
| CY2016Q3 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
456037 | |
| CY2015Q3 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
508001 | |
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
1352875 | ||
| us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
1604804 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
70846 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
28484 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
48000 | ||
| us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
|||
| CY2016Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
4105704 | |
| CY2015Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
4061052 | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
4093993 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
4057496 | ||
| CY2016Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4105704 | |
| CY2016Q2 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
140674 | |
| CY2015Q2 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
274375 | |
| CY2016Q3 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
165700 | |
| CY2015Q3 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
276866 | |
| CY2015Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
176531 | |
| CY2014Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
230766 | |
| CY2016Q3 | us-gaap |
Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
|
36896 | |
| CY2015Q3 | us-gaap |
Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
|
60346 | |
| us-gaap |
Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
|
186179 | ||
| us-gaap |
Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
|
230482 | ||
| CY2016Q3 | us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
61922 | |
| CY2015Q3 | us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
62837 | |
| us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
175348 | ||
| us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
276582 | ||
| CY2016Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
18326834 | |
| CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
18519866 | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Estimates</div></div><div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"> </div></div><div style=" TEXT-ALIGN: justify; MARGIN: 0pt 0pt 0pt 36pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities and the reported amounts of revenue and expenses during the three and nine-months ended August 31, 2016. Actual results could differ from those estimates.</div></div></div></div></div></div> | ||
| CY2016Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
||
| CY2015Q3 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
||
| us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
|||
| CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4061052 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4093993 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4057496 |
