$FRD
FRIEDMAN INDUSTRIES INC

2019 Q3 Form 10-Q Financial Statement

#000143774919022952 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q1
Revenue $40.00M $53.43M $43.96M
YoY Change -25.15% 104.9% 108.79%
Cost Of Revenue $40.78M $49.49M $38.78M
YoY Change -17.6% 101.35% 88.99%
Gross Profit -$782.7K $3.945M $5.181M
YoY Change -119.84% 162.9% 867.48%
Gross Profit Margin -1.96% 7.38% 11.78%
Selling, General & Admin $1.254M $1.289M $1.220M
YoY Change -2.76% 39.47% 16.19%
% of Gross Profit 32.69% 23.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $309.6K $360.0K $360.0K
YoY Change -14.0% 0.0% -7.69%
% of Gross Profit 9.13% 6.95%
Operating Expenses $614.0K $1.289M $1.220M
YoY Change -52.38% 39.47% 16.19%
Operating Profit -$2.036M $2.655M $3.961M
YoY Change -176.7% 361.05% -869.87%
Interest Expense $15.75K -$10.00K
YoY Change -200.0%
% of Operating Profit 0.59% -0.25%
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change
Pretax Income -$2.032M $2.646M $3.950M
YoY Change -176.81% 355.94% -890.0%
Income Tax -$488.0K $644.7K $940.0K
% Of Pretax Income 24.37% 23.8%
Net Earnings -$1.544M $2.001M $3.013M
YoY Change -177.17% 406.13% -899.34%
Net Earnings / Revenue -3.86% 3.74% 6.85%
Basic Earnings Per Share -$0.22 $0.29 $0.43
Diluted Earnings Per Share -$0.22 $0.29 $0.43
COMMON SHARES
Basic Shares Outstanding 6.999M 7.009M
Diluted Shares Outstanding 6.999M 7.009M

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.37M $3.670M $4.050M
YoY Change 427.83% 14.69% 177.4%
Cash & Equivalents $19.37M $3.671M $4.053M
Short-Term Investments
Other Short-Term Assets $1.008M $1.065M $543.5K
YoY Change -5.33% 246.65% 378.73%
Inventory $36.09M $54.65M $49.06M
Prepaid Expenses
Receivables $12.89M $17.45M $13.18M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $69.36M $76.83M $74.46M
YoY Change -9.73% 46.52% 63.88%
LONG-TERM ASSETS
Property, Plant & Equipment $12.09M $13.66M $11.91M
YoY Change -11.46% -7.21% -21.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $123.3K $230.0K $220.0K
YoY Change -46.41% -82.31% -87.36%
Total Long-Term Assets $12.57M $13.89M $12.15M
YoY Change -9.49% -17.98% -31.88%
TOTAL ASSETS
Total Short-Term Assets $69.36M $76.83M $74.46M
Total Long-Term Assets $12.57M $13.89M $12.15M
Total Assets $81.93M $90.72M $86.60M
YoY Change -9.69% 30.78% 36.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.817M $12.81M $10.23M
YoY Change -31.17% 66.8% 411.5%
Accrued Expenses $552.4K $830.0K $660.0K
YoY Change -33.44% 76.6% 135.71%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.510M $14.98M $12.36M
YoY Change -36.5% 82.18% 424.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $18.66K $190.0K
YoY Change -90.18% -38.71%
Total Long-Term Liabilities $18.66K $190.0K $0.00
YoY Change -90.18% -38.71% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.510M $14.98M $12.36M
Total Long-Term Liabilities $18.66K $190.0K $0.00
Total Liabilities $11.05M $17.03M $14.12M
YoY Change -35.12% 99.69% 385.76%
SHAREHOLDERS EQUITY
Retained Earnings $38.71M $41.68M $40.48M
YoY Change -7.13% 43.13% 40.65%
Common Stock $37.69M $37.48M $37.53M
YoY Change 0.56% 0.78% 1.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.526M $5.476M $5.526M
YoY Change 0.91% 0.0% 0.91%
Treasury Stock Shares $1.226M $1.176M $1.226M
Shareholders Equity $70.88M $73.69M $72.48M
YoY Change
Total Liabilities & Shareholders Equity $81.93M $90.72M $86.60M
YoY Change -9.69% 30.78% 36.89%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q1
OPERATING ACTIVITIES
Net Income -$1.544M $2.001M $3.013M
YoY Change -177.17% 406.13% -899.34%
Depreciation, Depletion And Amortization $309.6K $360.0K $360.0K
YoY Change -14.0% 0.0% -7.69%
Cash From Operating Activities $8.975M $610.0K $5.840M
YoY Change 1371.3% -200.0% -238.06%
INVESTING ACTIVITIES
Capital Expenditures -$123.8K -$20.00K -$70.00K
YoY Change 519.2% 0.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities -$4.370K $0.00 -$10.00K
YoY Change -100.0% -50.0%
Cash From Investing Activities -$128.2K -$30.00K -$80.00K
YoY Change 327.37% 0.0% -50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -280.0K -210.0K -3.820M
YoY Change 33.32% 200.0% 5357.14%
NET CHANGE
Cash From Operating Activities 8.975M 610.0K 5.840M
Cash From Investing Activities -128.2K -30.00K -80.00K
Cash From Financing Activities -280.0K -210.0K -3.820M
Net Change In Cash 8.567M 370.0K 1.940M
YoY Change 2215.34% -152.11% -143.5%
FREE CASH FLOW
Cash From Operating Activities $8.975M $610.0K $5.840M
Capital Expenditures -$123.8K -$20.00K -$70.00K
Free Cash Flow $9.099M $630.0K $5.910M
YoY Change 1344.25% -206.78% -244.5%

Facts In Submission

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80970900
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
101625347
CY2019Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1253849
CY2018Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1289438
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2462237
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2782178
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
70878716
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
72481577
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1225716
CY2018Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1225716
CY2019Q3 us-gaap Treasury Stock Value
TreasuryStockValue
5525964
CY2018Q1 us-gaap Treasury Stock Value
TreasuryStockValue
5525964
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6999444
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7009444
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6999444
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7009444
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6999444
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7009444
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6999444
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7009444

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