$CVR
CHICAGO RIVET & MACHINE CO

2024 Q4 Form 10-Q Financial Statement

#000095017024125575 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q4
Revenue $6.970M $6.781M
YoY Change -12.29% -1.11%
Cost Of Revenue $6.275M $7.570M
YoY Change -20.62% 1.42%
Gross Profit $695.0K -$789.2K
YoY Change 1588.79% 29.98%
Gross Profit Margin 9.97% -11.64%
Selling, General & Admin $808.1K $1.347M
YoY Change -36.53% 13.93%
% of Gross Profit 116.28%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $324.5K $354.7K
YoY Change 5.26% 10.92%
% of Gross Profit 46.7%
Operating Expenses $1.519M $1.347M
YoY Change 19.27% 13.93%
Operating Profit -$823.6K -$2.137M
YoY Change -33.15% 19.38%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $28.15K $25.20K
YoY Change 65.76% -55.07%
Pretax Income -$795.4K -$2.111M
YoY Change -34.54% 21.79%
Income Tax $651.2K -$568.4K
% Of Pretax Income
Net Earnings -$1.447M -$1.543M
YoY Change 50.06% 17.54%
Net Earnings / Revenue -20.76% -22.75%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.50 -$1.60
COMMON SHARES
Basic Shares Outstanding 966.1K 966.1K shares 966.1K shares
Diluted Shares Outstanding 966.1K

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.162M $3.158M
YoY Change -15.65% -53.12%
Cash & Equivalents $1.665M $1.387M
Short-Term Investments $496.6K $1.771M
Other Short-Term Assets $797.6K $960.9K
YoY Change 93.18% 127.29%
Inventory $7.405M $7.328M
Prepaid Expenses
Receivables $4.607M $4.394M
Other Receivables $0.00 $0.00
Total Short-Term Assets $15.39M $15.84M
YoY Change -15.38% -27.22%
LONG-TERM ASSETS
Property, Plant & Equipment $11.00M $11.67M
YoY Change -7.52% -1.66%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $324.9K
YoY Change
Total Long-Term Assets $11.00M $11.99M
YoY Change -7.52% 1.08%
TOTAL ASSETS
Total Short-Term Assets $15.39M $15.84M
Total Long-Term Assets $11.00M $11.99M
Total Assets $26.39M $27.83M
YoY Change -12.28% -17.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.260M $789.0K
YoY Change 25.06% 13.16%
Accrued Expenses $301.0K $644.9K
YoY Change 104.08% 96.63%
Deferred Revenue $372.1K $430.2K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.556M $1.864M
YoY Change 14.41% 10.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.556M $1.864M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.717M $1.864M
YoY Change 9.61% -29.38%
SHAREHOLDERS EQUITY
Retained Earnings $26.01M $28.30M
YoY Change -13.13% -15.06%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.922M $3.922M
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $23.67M $25.97M
YoY Change
Total Liabilities & Shareholders Equity $26.39M $27.83M
YoY Change -12.28% -17.23%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q4
OPERATING ACTIVITIES
Net Income -$1.447M -$1.543M
YoY Change 50.06% 17.54%
Depreciation, Depletion And Amortization $324.5K $354.7K
YoY Change 5.26% 10.92%
Cash From Operating Activities -$58.18K $801.4K
YoY Change -84.23% -194.04%
INVESTING ACTIVITIES
Capital Expenditures $310.7K $128.5K
YoY Change 63.88% -53.08%
Acquisitions
YoY Change
Other Investing Activities $245.2K -$1.552M
YoY Change -83.59% -2922.18%
Cash From Investing Activities -$65.52K -$1.681M
YoY Change -105.02% 667.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -96.61K -96.62K
YoY Change 0.0% -54.54%
NET CHANGE
Cash From Operating Activities -58.18K 801.4K
Cash From Investing Activities -65.52K -1.681M
Cash From Financing Activities -96.61K -96.62K
Net Change In Cash -220.3K -975.9K
YoY Change -126.26% -23.97%
FREE CASH FLOW
Cash From Operating Activities -$58.18K $801.4K
Capital Expenditures $310.7K $128.5K
Free Cash Flow -$368.9K $672.9K
YoY Change -33.95% -159.76%

Facts In Submission

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CY2023Q2 us-gaap Dividends
Dividends
212549
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
28667057
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-964042
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.1
CY2023Q3 us-gaap Dividends
Dividends
96613
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
27606402
us-gaap Net Income Loss
NetIncomeLoss
-2002484
us-gaap Net Income Loss
NetIncomeLoss
-2858685
us-gaap Depreciation
Depreciation
969958
us-gaap Depreciation
Depreciation
920430
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
36886
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
31500
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
485739
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-703599
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
330918
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
831171
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-118301
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
77129
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-326034
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-87886
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
97553
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
471337
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
310567
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
107838
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
316609
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
171010
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-180486
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-58047
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
96308
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-93395
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2733046
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
709396
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
949862
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
96350
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
31500
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
3000815
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
2591000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
1726284
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
100000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
661485
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1572638
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
289840
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
521711
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-289840
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-521711
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
278250
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1682119
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1387075
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4045101
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1665325
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2362982
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">2. The Company extends credit on the basis of terms that are customary within our markets to various companies doing business primarily in the automotive industry. The Company has a concentration of credit risk primarily within the automotive industry and in the Midwestern United States. The Company has established an allowance for accounts that may become uncollectible in the future. This estimated allowance is based primarily on management's evaluation of the financial condition of the customer and historical experience. The Company monitors its accounts receivable and charges to expense an amount equal to its estimate of potential credit losses. The Company considers a number of factors in determining its estimates, including the length of time its trade accounts receivable are past due, the Company's previous loss history and the customer's current ability to pay its obligation. The Company also considers current economic conditions, the economic outlook and industry-specific factors in its evaluation. Accounts receivable balances are charged off against the allowance when it is determined that the receivable will not be recovered.</span></p>
CY2024Q1 cvr Estimate Contingent Liability
EstimateContingentLiability
243000
CY2024Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
372132
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6969921
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7946172
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22882579
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24726828
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6969921
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7946172
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
22882579
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
24726828
CY2024Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.819
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.207
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.32
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.21
CY2024Q3 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
961755
CY2024Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
651196
CY2024Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
2956245
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2878869
CY2024Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
2027415
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2374795
CY2024Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2961122
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2614989
CY2024Q3 us-gaap Inventory Gross
InventoryGross
7944782
CY2023Q4 us-gaap Inventory Gross
InventoryGross
7868653
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
540000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
541000
CY2024Q3 us-gaap Inventory Net
InventoryNet
7404782
CY2023Q4 us-gaap Inventory Net
InventoryNet
7327653
CY2024Q3 us-gaap Revenues
Revenues
6969921
CY2024Q3 us-gaap Depreciation
Depreciation
324536
CY2024Q3 cvr Segment Operatingprofit
SegmentOperatingprofit
-15466
CY2024Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
808105
CY2024Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
28146
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-795425
CY2024Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
310732
CY2024Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4606800

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