$CVR
CHICAGO RIVET & MACHINE CO

2024 Q3 Form 10-Q Financial Statement

#000119312524200613 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $6.970M $8.059M
YoY Change -12.29% 0.11%
Cost Of Revenue $6.275M $6.644M
YoY Change -20.62% -20.72%
Gross Profit $695.0K $1.415M
YoY Change 1588.79% -530.18%
Gross Profit Margin 9.97% 17.56%
Selling, General & Admin $808.1K $1.308M
YoY Change -36.53% -3.79%
% of Gross Profit 116.28% 92.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $324.5K $322.0K
YoY Change 5.26% 5.2%
% of Gross Profit 46.7% 22.75%
Operating Expenses $1.519M $1.308M
YoY Change 19.27% -3.79%
Operating Profit -$823.6K $107.6K
YoY Change -33.15% -106.37%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $28.15K $45.96K
YoY Change 65.76% 99.85%
Pretax Income -$795.4K $153.5K
YoY Change -34.54% -109.22%
Income Tax $651.2K $11.37K
% Of Pretax Income 7.41%
Net Earnings -$1.447M $142.1K
YoY Change 50.06% -110.84%
Net Earnings / Revenue -20.76% 1.76%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.50 $0.15
COMMON SHARES
Basic Shares Outstanding 966.1K shares 966.1K shares
Diluted Shares Outstanding 966.1K 966.1K shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.162M $2.627M
YoY Change -15.65% -18.36%
Cash & Equivalents $1.665M $1.886M
Short-Term Investments $496.6K $741.8K
Other Short-Term Assets $797.6K $443.7K
YoY Change 93.18% 5.15%
Inventory $7.405M $6.938M
Prepaid Expenses
Receivables $4.607M $5.393M
Other Receivables $0.00 $0.00
Total Short-Term Assets $15.39M $15.48M
YoY Change -15.38% -22.43%
LONG-TERM ASSETS
Property, Plant & Equipment $11.00M $11.36M
YoY Change -7.52% -5.42%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $490.7K
YoY Change
Total Long-Term Assets $11.00M $11.85M
YoY Change -7.52% -1.34%
TOTAL ASSETS
Total Short-Term Assets $15.39M $15.48M
Total Long-Term Assets $11.00M $11.85M
Total Assets $26.39M $27.33M
YoY Change -12.28% -14.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.260M $902.2K
YoY Change 25.06% -26.91%
Accrued Expenses $301.0K $309.1K
YoY Change 104.08% 266.9%
Deferred Revenue $372.1K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.556M $2.109M
YoY Change 14.41% -13.29%
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 $2.109M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.717M $2.109M
YoY Change 9.61% -36.02%
SHAREHOLDERS EQUITY
Retained Earnings $26.01M $27.55M
YoY Change -13.13% -11.13%
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 $25.22M
YoY Change
Total Liabilities & Shareholders Equity $26.39M $27.33M
YoY Change -12.28% -14.51%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$1.447M $142.1K
YoY Change 50.06% -110.84%
Depreciation, Depletion And Amortization $324.5K $322.0K
YoY Change 5.26% 5.2%
Cash From Operating Activities -$58.18K $363.5K
YoY Change -84.23% -151.01%
INVESTING ACTIVITIES
Capital Expenditures $310.7K $305.6K
YoY Change 63.88% -11.9%
Acquisitions
YoY Change
Other Investing Activities $245.2K $633.2K
YoY Change -83.59% 19.35%
Cash From Investing Activities -$65.52K $327.6K
YoY Change -105.02% 78.35%
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 363.5K
Cash From Investing Activities -65.52K 327.6K
Cash From Financing Activities -96.61K -96.62K
Net Change In Cash -220.3K 594.5K
YoY Change -126.26% -180.17%
FREE CASH FLOW
Cash From Operating Activities -$58.18K $363.5K
Capital Expenditures $310.7K $305.6K
Free Cash Flow -$368.9K $57.97K
YoY Change -33.95% -105.47%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Registrant Name
EntityRegistrantName
CHICAGO RIVET & MACHINE CO
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Security Exchange Name
SecurityExchangeName
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dei Amendment Flag
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false
dei Entity Central Index Key
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dei Document Transition Report
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false
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Entity File Number
EntityFileNumber
000-01227
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
IL
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
36-0904920
dei Entity Address Address Line1
EntityAddressAddressLine1
901 Frontenac Road
dei Entity Address City Or Town
EntityAddressCityOrTown
Naperville
dei Entity Address State Or Province
EntityAddressStateOrProvince
IL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
60563
dei City Area Code
CityAreaCode
630
dei Local Phone Number
LocalPhoneNumber
357-8500
dei Security12b Title
Security12bTitle
Common Stock, par value $1.00 per share
dei Trading Symbol
TradingSymbol
CVR
dei Entity Current Reporting Status
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us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
997000 usd
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
1479275 usd
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
727009 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
268252 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
193226 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
425098 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-193226 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-425098 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
498565 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2520934 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1387075 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4045101 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1885640 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1524167 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font:10pt Arial;margin:0">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.</p>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8059477 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8050931 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15912658 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16780656 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8059477 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8050931 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15912658 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
16780656 usd
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
2584541 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
2878869 usd
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
2437309 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2374795 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2455844 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2614989 usd
CY2024Q2 us-gaap Inventory Gross
InventoryGross
7477694 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
7868653 usd
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
540000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
541000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
6937694 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
7327653 usd

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