$FRD
FRIEDMAN INDUSTRIES INC

2021 Q1 Form 10-Q Financial Statement

#000143774921003646 Filed on February 22, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020 Q1
Revenue $49.21M $28.50M $32.98M
YoY Change 49.22% 1.25% -21.85%
Cost Of Revenue $31.47M $24.01M $31.11M
YoY Change 1.16% -14.56% -24.78%
Gross Profit $17.74M $4.496M $1.869M
YoY Change 849.39% 8393.47% 122.59%
Gross Profit Margin 36.05% 15.77% 5.67%
Selling, General & Admin $3.316M $1.725M $1.462M
YoY Change 126.85% 43.71% 54.5%
% of Gross Profit 18.69% 38.37% 78.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $282.7K $199.3K $601.0K
YoY Change -52.97% -35.63% 124.5%
% of Gross Profit 1.59% 4.43% 32.16%
Operating Expenses $3.316M $736.0K $1.462M
YoY Change 126.85% 25.38% 54.5%
Operating Profit $14.43M $2.765M $406.8K
YoY Change 3446.1% -340.41% -481.26%
Interest Expense -$522.7K $6.000K $1.850K
YoY Change -28352.43% 143.61% -99.49%
% of Operating Profit -3.62% 0.22% 0.45%
Other Income/Expense, Net -$500.0K $4.000K $0.00
YoY Change -100.0%
Pretax Income $13.90M $2.769M -$3.930M
YoY Change -453.77% -341.72% 168.23%
Income Tax $3.499M $639.2K -$911.0K
% Of Pretax Income 25.17% 23.08%
Net Earnings $10.40M $2.130M -$3.019M
YoY Change -444.62% -341.74% 158.98%
Net Earnings / Revenue 21.14% 7.47% -9.15%
Basic Earnings Per Share $1.49 $0.30 -$0.43
Diluted Earnings Per Share $1.49 $0.30 -$0.43
COMMON SHARES
Basic Shares Outstanding 6.906M 7.040M
Diluted Shares Outstanding 7.040M

Balance Sheet

Concept 2021 Q1 2020 Q4 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.191M $16.49M $17.06M
YoY Change -51.98% -26.18% 46.2%
Cash & Equivalents $8.191M $16.49M $17.06M
Short-Term Investments
Other Short-Term Assets $12.33M $5.488M $780.2K
YoY Change 1480.04% 249.86% 43.53%
Inventory $36.02M $30.13M $35.67M
Prepaid Expenses
Receivables $20.38M $12.13M $11.71M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $77.53M $64.24M $65.21M
YoY Change 18.9% -7.29% -12.42%
LONG-TERM ASSETS
Property, Plant & Equipment $15.46M $14.97M $11.50M
YoY Change 34.44% 1.62% -3.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.008M $144.8K $131.8K
YoY Change 1423.34% 13.45% -44.1%
Total Long-Term Assets $17.47M $15.13M $12.13M
YoY Change 44.03% 1.29% -0.11%
TOTAL ASSETS
Total Short-Term Assets $77.53M $64.24M $65.21M
Total Long-Term Assets $17.47M $15.13M $12.13M
Total Assets $95.01M $79.37M $77.34M
YoY Change 22.84% -5.77% -10.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.18M $6.100M $8.897M
YoY Change 70.62% -49.77% -23.15%
Accrued Expenses $2.698M $801.0K $507.5K
YoY Change 431.74% 64.99% 46.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.621M $1.440M $100.7K
YoY Change 1509.35% 1336.86%
Total Short-Term Liabilities $29.07M $8.532M $9.645M
YoY Change 201.41% -33.71% -21.99%
LONG-TERM LIABILITIES
Long-Term Debt $437.5K $643.7K $368.3K
YoY Change 18.81% 63.53%
Other Long-Term Liabilities $316.0K $291.4K $372.4K
YoY Change -15.14% -27.93%
Total Long-Term Liabilities $316.0K $291.4K $372.4K
YoY Change -15.14% -27.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.07M $8.532M $9.645M
Total Long-Term Liabilities $316.0K $291.4K $372.4K
Total Liabilities $29.67M $10.02M $10.48M
YoY Change 183.13% -29.9% -25.79%
SHAREHOLDERS EQUITY
Retained Earnings $45.39M $35.13M $34.53M
YoY Change 31.46% -6.8% -14.7%
Common Stock $38.34M $38.19M $37.86M
YoY Change 1.26% 1.08% 0.89%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.203M $6.619M $5.526M
YoY Change 30.35% 19.79% 0.0%
Treasury Stock Shares $1.435M $1.356M $1.226M
Shareholders Equity $65.34M $69.35M $66.87M
YoY Change
Total Liabilities & Shareholders Equity $95.01M $79.37M $77.34M
YoY Change 22.84% -5.77% -10.69%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020 Q1
OPERATING ACTIVITIES
Net Income $10.40M $2.130M -$3.019M
YoY Change -444.62% -341.74% 158.98%
Depreciation, Depletion And Amortization $282.7K $199.3K $601.0K
YoY Change -52.97% -35.63% 124.5%
Cash From Operating Activities $3.589M $1.121M -$3.395M
YoY Change -205.72% -79.83% -135.1%
INVESTING ACTIVITIES
Capital Expenditures -$381.4K -$1.295M -$1.712M
YoY Change -77.71% -46.67% 967.62%
Acquisitions
YoY Change
Other Investing Activities $32.35K -$4.320K -$4.190K
YoY Change -872.08% -1.14% -560.44%
Cash From Investing Activities -$349.1K -$1.299M -$1.716M
YoY Change -79.65% -46.59% 976.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -748.8K -899.9K -164.9K
YoY Change 354.2% 446.25% -60.8%
NET CHANGE
Cash From Operating Activities 3.589M 1.121M -3.395M
Cash From Investing Activities -349.1K -1.299M -1.716M
Cash From Financing Activities -748.8K -899.9K -164.9K
Net Change In Cash 2.491M -1.077M -5.276M
YoY Change -147.23% -136.38% -158.02%
FREE CASH FLOW
Cash From Operating Activities $3.589M $1.121M -$3.395M
Capital Expenditures -$381.4K -$1.295M -$1.712M
Free Cash Flow $3.971M $2.416M -$1.684M
YoY Change -335.86% -69.75% -117.12%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020Q4 us-gaap Land
Land
1179831
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000039092
CY2021Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
6905849
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--03-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Period End Date
DocumentPeriodEndDate
2020-12-31
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Registrant Name
EntityRegistrantName
FRIEDMAN INDUSTRIES INC
dei Entity Shell Company
EntityShellCompany
false
dei Entity Small Business
EntitySmallBusiness
true
dei Security12b Title
Security12bTitle
Common Stock, $1 Par Value
dei Trading Symbol
TradingSymbol
frd
CY2020Q4 frd Allowance For Doubtful Accounts Receivable And Cash Discounts Current
AllowanceForDoubtfulAccountsReceivableAndCashDiscountsCurrent
82417
CY2020Q1 frd Allowance For Doubtful Accounts Receivable And Cash Discounts Current
AllowanceForDoubtfulAccountsReceivableAndCashDiscountsCurrent
82417
CY2020Q4 frd Cash Value Of Officers Life Insurance And Other Assets Noncurrent
CashValueOfOfficersLifeInsuranceAndOtherAssetsNoncurrent
164016
CY2020Q1 frd Cash Value Of Officers Life Insurance And Other Assets Noncurrent
CashValueOfOfficersLifeInsuranceAndOtherAssetsNoncurrent
183350
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-628459
CY2020Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-117945
CY2020Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
11705344
CY2020Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
88541
CY2020Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
29898231
frd Increase Decrease In Deferred Compensation Cash Based Arrangementsliability
IncreaseDecreaseInDeferredCompensationCashBasedArrangementsliability
149750
frd Increase Decrease In Deferred Compensation Cash Based Arrangementsliability
IncreaseDecreaseInDeferredCompensationCashBasedArrangementsliability
149750
frd Life Insurance Transfer Of Ownership
LifeInsuranceTransferOfOwnership
121000
CY2020Q4 frd Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
412844
CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
31825401
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
2657923
CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
CY2020Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
29852154
CY2020Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
29565416
CY2020Q4 us-gaap Assets
Assets
79369221
CY2020Q1 us-gaap Assets
Assets
77344088
CY2020Q4 us-gaap Assets Current
AssetsCurrent
64237668
CY2020Q1 us-gaap Assets Current
AssetsCurrent
65211517
CY2020Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
9180304
CY2020Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
9008869
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16485797
CY2020Q4 frd Operating And Finance Lease Rightofuse Asset
OperatingAndFinanceLeaseRightofuseAsset
507594
frd Operating Lease Monthly Payments
OperatingLeaseMonthlyPayments
4878
CY2020Q2 frd Proceeds From Paycheck Protection Program Under Cares Act
ProceedsFromPaycheckProtectionProgramUnderCARESAct
1690385
CY2020Q2 frd Stock Repurchase Program Percentage Of Total Outstanding Shares Of Common Stock
StockRepurchaseProgramPercentageOfTotalOutstandingSharesOfCommonStock
0.15
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
6081444
CY2020Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
8944614
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
12133375
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17057751
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17057751
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
11667161
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17701097
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22333323
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
643346
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10666162
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q1 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
50250
CY2020Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
CY2020Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
448665
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-335388
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
8334785
CY2020Q1 us-gaap Common Stock Value
CommonStockValue
8295160
CY2020Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
4787668
CY2020Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.02
CY2019Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.02
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.06
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.08
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
10000000
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8334785
CY2020Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8295160
CY2019Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-881003
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3678801
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2230368
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
6478594
CY2020Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
3797364
CY2020Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
24006200
CY2019Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
28097884
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
71044629
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
108380110
CY2020Q4 us-gaap Costs And Expenses
CostsAndExpenses
25737491
CY2019Q4 us-gaap Costs And Expenses
CostsAndExpenses
29300740
us-gaap Costs And Expenses
CostsAndExpenses
75581770
us-gaap Costs And Expenses
CostsAndExpenses
112045203
CY2020Q4 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
757097
CY2019Q4 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
244940
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
634056
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
-49584
CY2020Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
200000
us-gaap Depreciation
Depreciation
730254
us-gaap Depreciation
Depreciation
923966
CY2020 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
3533120
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.32
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.32
CY2019Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-509490
CY2020Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
732295
CY2020Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
361146
CY2019Q4 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
0
CY2020Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
139485
CY2020Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
139989
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.226
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.233
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
581796
CY2020Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
409778
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1981
CY2019Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2463
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6306
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2463
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
393613
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
102196
CY2020Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
100728
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
408330
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
27222
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
54444
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
108888
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
108888
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
108888
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
14717
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
75364
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
24760
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
25243
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8644
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2768897
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
75364
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8644
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.019
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y255D
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1145553
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1319546
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2908411
CY2020Q4 us-gaap Inventory Net
InventoryNet
30130320
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2834970
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
567114
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
428031
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3337785
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
88541
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-159694
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
172018
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-42617
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-448665
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
40639
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-5263830
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-12562592
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
298668
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-678043
CY2020Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
639152
CY2019Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-264550
us-gaap Income Taxes Paid
IncomeTaxesPaid
10000
us-gaap Income Taxes Paid
IncomeTaxesPaid
259000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
793679
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1025125
CY2020Q4 us-gaap Interest And Other Income
InterestAndOtherIncome
4339
CY2019Q4 us-gaap Interest And Other Income
InterestAndOtherIncome
4370
us-gaap Interest And Other Income
InterestAndOtherIncome
12987
us-gaap Interest And Other Income
InterestAndOtherIncome
15075
CY2020Q4 us-gaap Interest Expense
InterestExpense
6148
CY2019Q4 us-gaap Interest Expense
InterestExpense
2463
us-gaap Interest Expense
InterestExpense
18356
us-gaap Interest Expense
InterestExpense
2463
us-gaap Interest Paid Net
InterestPaidNet
6000
us-gaap Interest Paid Net
InterestPaidNet
2500
CY2020Q1 us-gaap Inventory Net
InventoryNet
35668243
us-gaap Inventory Write Down
InventoryWriteDown
274093
us-gaap Inventory Write Down
InventoryWriteDown
955605
CY2020Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
29339893
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
46885
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-724705
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4241163
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3236966
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4837624
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14627833
us-gaap Net Income Loss
NetIncomeLoss
1020878
us-gaap Net Income Loss
NetIncomeLoss
-2230368
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
2129745
CY2020Q1 us-gaap Land
Land
1179831
CY2020Q4 us-gaap Lease Cost
LeaseCost
41858
CY2019Q4 us-gaap Lease Cost
LeaseCost
19291
us-gaap Lease Cost
LeaseCost
123322
us-gaap Lease Cost
LeaseCost
35659
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19512
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
14634
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4878
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
281
CY2020Q4 us-gaap Liabilities
Liabilities
10016323
CY2020Q1 us-gaap Liabilities
Liabilities
10478721
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
79369221
CY2020Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
77344088
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
8531576
CY2020Q1 us-gaap Liabilities Current
LiabilitiesCurrent
9645359
CY2020Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
28027039
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-881003
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q4 us-gaap Operating Expenses
OperatingExpenses
736000
CY2019Q4 us-gaap Operating Expenses
OperatingExpenses
587000
us-gaap Operating Expenses
OperatingExpenses
2188000
us-gaap Operating Expenses
OperatingExpenses
1826000
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
2764558
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-1149923
us-gaap Operating Income Loss
OperatingIncomeLoss
1306559
us-gaap Operating Income Loss
OperatingIncomeLoss
-2923486
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
14634
CY2019Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
8184
us-gaap Operating Lease Cost
OperatingLeaseCost
41652
us-gaap Operating Lease Cost
OperatingLeaseCost
24552
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
63000
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
63000
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P109D
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
5488176
CY2020Q1 us-gaap Other Assets Current
OtherAssetsCurrent
780179
CY2020Q4 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
3364460
us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
3364460
CY2020Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
2657923
CY2019Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
2657923
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
CY2020Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
3364460
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTaxParent
3364460
CY2020Q4 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent
706537
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTaxParent
706537
CY2020Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2657923
CY2019Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2657923
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
CY2020Q4 us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
706537
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
OtherComprehensiveIncomeLossTaxPortionAttributableToParent1
706537
CY2020Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
291417
CY2020Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
372352
CY2020Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
108764
CY2020Q1 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
99864
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1143356
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
424780
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
699945
us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
12970
us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
13110
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4228193
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3223856
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
8900
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
8215
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
1690385
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14967537
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11500556
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
0
us-gaap Restricted Stock Expense
RestrictedStockExpense
376363
us-gaap Restricted Stock Expense
RestrictedStockExpense
249708
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
35127356
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
34530755
CY2020Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
28502049
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
28150817
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
76888329
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
109121717
CY2020Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1725143
CY2019Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1200393
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4518785
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3662630
CY2020Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
1062067
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
69352898
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
66865367
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
1355916
CY2020Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1225716
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
180200
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
6619320
CY2020Q1 us-gaap Treasury Stock Value
TreasuryStockValue
5525964
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1143356
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-696400
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
CY2020Q4 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
1338114
CY2020Q1 us-gaap Unsecured Debt Current
UnsecuredDebtCurrent
CY2020Q4 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
352271
CY2020Q1 us-gaap Unsecured Long Term Debt
UnsecuredLongTermDebt
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7039736
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6999444
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7062628
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6999444
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7039736
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6999444
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7062628
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6999444

Files In Submission

Name View Source Status
0001437749-21-003646-index-headers.html Edgar Link pending
0001437749-21-003646-index.html Edgar Link pending
0001437749-21-003646.txt Edgar Link pending
0001437749-21-003646-xbrl.zip Edgar Link pending
ex_223838.htm Edgar Link pending
ex_223839.htm Edgar Link pending
ex_223840.htm Edgar Link pending
ex_223841.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
frd-20201231.xml Edgar Link completed
frd-20201231.xsd Edgar Link pending
frd-20201231_cal.xml Edgar Link unprocessable
frd-20201231_def.xml Edgar Link unprocessable
frd-20201231_lab.xml Edgar Link unprocessable
frd-20201231_pre.xml Edgar Link unprocessable
frd20210131_10q.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending