$SIF
SIFCO INDUSTRIES INC

2017 Q2 Form 10-Q Financial Statement

#000009016817000024 Filed on August 09, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $30.17M $31.00M
YoY Change -2.7% 7.96%
Cost Of Revenue $26.60M $28.01M
YoY Change -5.03% 17.93%
Gross Profit $3.568M $2.995M
YoY Change 19.13% -39.7%
Gross Profit Margin 11.83% 9.66%
Selling, General & Admin $3.918M $4.157M
YoY Change -5.75% -29.1%
% of Gross Profit 109.81% 138.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.590M $2.650M
YoY Change -2.26% 41.71%
% of Gross Profit 72.59% 88.48%
Operating Expenses $3.918M $4.157M
YoY Change -5.75% -29.1%
Operating Profit -$5.298M -$1.795M
YoY Change 195.15% 21.53%
Interest Expense $464.0K $428.0K
YoY Change 8.41% 415.66%
% of Operating Profit
Other Income/Expense, Net $110.0K $107.0K
YoY Change 2.8% -40.56%
Pretax Income -$5.634M -$2.099M
YoY Change 168.41% 41.25%
Income Tax $568.0K -$1.049M
% Of Pretax Income
Net Earnings -$6.202M -$1.050M
YoY Change 490.67% 4.27%
Net Earnings / Revenue -20.56% -3.39%
Basic Earnings Per Share -$1.13 -$0.19
Diluted Earnings Per Share -$1.13 -$0.19
COMMON SHARES
Basic Shares Outstanding 5.499M shares 5.466M shares
Diluted Shares Outstanding 5.499M shares 5.466M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.100M $800.0K
YoY Change 37.5% -96.49%
Cash & Equivalents $1.099M $819.0K
Short-Term Investments
Other Short-Term Assets $3.300M $4.700M
YoY Change -29.79% 46.87%
Inventory $23.80M $29.33M
Prepaid Expenses
Receivables $26.40M $29.30M
Other Receivables $300.0K $2.600M
Total Short-Term Assets $54.93M $66.71M
YoY Change -17.65% -16.91%
LONG-TERM ASSETS
Property, Plant & Equipment $42.22M $50.32M
YoY Change -16.1% 32.03%
Goodwill $11.87M $15.79M
YoY Change -24.81% 106.22%
Intangibles $7.131M $11.72M
YoY Change -39.13% 17.99%
Long-Term Investments
YoY Change
Other Assets $284.0K $451.0K
YoY Change -37.03% -51.71%
Total Long-Term Assets $61.51M $78.28M
YoY Change -21.42% 38.22%
TOTAL ASSETS
Total Short-Term Assets $54.93M $66.71M
Total Long-Term Assets $61.51M $78.28M
Total Assets $116.4M $145.0M
YoY Change -19.69% 5.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.05M $16.35M
YoY Change -14.07% 55.1%
Accrued Expenses $5.325M $7.832M
YoY Change -32.01% 9.05%
Deferred Revenue
YoY Change
Short-Term Debt $20.39M $0.00
YoY Change
Long-Term Debt Due $7.545M $9.507M
YoY Change -20.64% 232.76%
Total Short-Term Liabilities $47.31M $33.69M
YoY Change 40.43% 63.62%
LONG-TERM LIABILITIES
Long-Term Debt $6.241M $29.91M
YoY Change -79.13% -16.95%
Other Long-Term Liabilities $458.0K $481.0K
YoY Change -4.78% 43.58%
Total Long-Term Liabilities $6.699M $30.39M
YoY Change -77.95% -16.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.31M $33.69M
Total Long-Term Liabilities $6.699M $30.39M
Total Liabilities $54.00M $64.07M
YoY Change -15.71% 12.54%
SHAREHOLDERS EQUITY
Retained Earnings $48.01M $65.87M
YoY Change -27.11% -6.18%
Common Stock $5.596M $5.525M
YoY Change 1.29% 1.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $51.38M $68.93M
YoY Change
Total Liabilities & Shareholders Equity $116.4M $145.0M
YoY Change -19.69% 5.89%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income -$6.202M -$1.050M
YoY Change 490.67% 4.27%
Depreciation, Depletion And Amortization $2.590M $2.650M
YoY Change -2.26% 41.71%
Cash From Operating Activities $2.410M -$380.0K
YoY Change -734.21% 65.22%
INVESTING ACTIVITIES
Capital Expenditures -$640.0K -$850.0K
YoY Change -24.71% -66.93%
Acquisitions
YoY Change
Other Investing Activities $20.00K $270.0K
YoY Change -92.59%
Cash From Investing Activities -$610.0K -$580.0K
YoY Change 5.17% -77.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.050M 850.0K
YoY Change -341.18% -95.93%
NET CHANGE
Cash From Operating Activities 2.410M -380.0K
Cash From Investing Activities -610.0K -580.0K
Cash From Financing Activities -2.050M 850.0K
Net Change In Cash -250.0K -110.0K
YoY Change 127.27% -100.61%
FREE CASH FLOW
Cash From Operating Activities $2.410M -$380.0K
Capital Expenditures -$640.0K -$850.0K
Free Cash Flow $3.050M $470.0K
YoY Change 548.94% -79.91%

Facts In Submission

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CY2017Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
8392000 USD
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
-144000 USD
us-gaap Inventory Lifo Reserve Period Charge
InventoryLIFOReservePeriodCharge
204000 USD
CY2016Q3 us-gaap Inventory Net
InventoryNet
28496000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
42000 USD
CY2017Q2 us-gaap Inventory Net
InventoryNet
23798000 USD
CY2016Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
7724000 USD
CY2017Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
6580000 USD
CY2016Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
10459000 USD
CY2017Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
8826000 USD
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
9000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
41000 USD
CY2017Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
12000 USD
CY2016Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
130457000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
116442000 USD
CY2016Q3 us-gaap Liabilities Current
LiabilitiesCurrent
50763000 USD
CY2017Q2 us-gaap Liabilities Current
LiabilitiesCurrent
47305000 USD
CY2017Q2 us-gaap Long Term Debt
LongTermDebt
8466000 USD
CY2016Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
7623000 USD
CY2017Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
6241000 USD
CY2016Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
18258000 USD
CY2017Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
7545000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
256000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3117000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2153000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2269000 USD
CY2017Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
671000 USD
CY2016Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7623000 USD
CY2017Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
6241000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-9477000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-5522000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1764000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1528000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
11375000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
7677000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-1050000 USD
us-gaap Net Income Loss
NetIncomeLoss
-3947000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-6202000 USD
us-gaap Net Income Loss
NetIncomeLoss
-10467000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-1795000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-6234000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-5298000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-8328000 USD
CY2016Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
538000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
284000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-50000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-50000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
-1000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
30000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-443000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-128000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1132000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
329000 USD
us-gaap Other Noncash Income
OtherNoncashIncome
0 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-134000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-390000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-217000 USD
us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-665000 USD
CY2016Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
431000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
458000 USD
us-gaap Other Noncash Income
OtherNoncashIncome
101000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
107000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
322000 USD
CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
110000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
324000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
498000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
-270000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2034000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
1598000 USD
CY2016Q3 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.44
CY2017Q2 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.36
CY2016Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2017Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2016Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000 shares
CY2016Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2177000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1863000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
2885000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
1425000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
35533000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
63628000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
70000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
1904000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
2649000 USD
CY2016Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
48958000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42219000 USD
CY2016Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
25158000 USD
CY2017Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
26408000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
40320000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
55992000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3866000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
13659000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
2728000 USD
us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
1650000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
4430000 USD
us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
64000 USD
CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
58476000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
48009000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
31004000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
87240000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
30167000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
92942000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4157000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
12907000 USD
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3918000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
13617000 USD
CY2016Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
12751000 USD
CY2017Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
20387000 USD
CY2016Q3 us-gaap Stockholders Equity
StockholdersEquity
60370000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
51377000 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
2077000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5466000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5460000 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5499000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5480000 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5466000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5460000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5499000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5480000 shares

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exhibit1016sifco-secondame.htm Edgar Link pending
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