$SVT
SERVOTRONICS INC /DE/

2022 Q4 Form 10-Q Financial Statement

#000141057822003410 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $10.43M $10.99M
YoY Change -1.17% 0.7%
Cost Of Revenue $9.817M $9.468M
YoY Change 6.66% 3.55%
Gross Profit $615.0K $1.523M
YoY Change -54.48% -14.05%
Gross Profit Margin 5.9% 13.86%
Selling, General & Admin $2.231M $1.943M
YoY Change -11.47% -28.59%
% of Gross Profit 362.76% 127.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $301.0K $294.0K
YoY Change -7.38% -10.64%
% of Gross Profit 48.94% 19.3%
Operating Expenses $2.231M $1.943M
YoY Change -11.47% -57.86%
Operating Profit -$1.616M -$420.0K
YoY Change 38.24% -85.21%
Interest Expense -$46.00K $50.00K
YoY Change -16.36% 900.0%
% of Operating Profit
Other Income/Expense, Net -$50.00K
YoY Change -100.84%
Pretax Income -$1.652M -$470.0K
YoY Change 24.96% -115.0%
Income Tax -$336.0K -$154.0K
% Of Pretax Income
Net Earnings -$1.316M -$316.0K
YoY Change 44.62% -109.76%
Net Earnings / Revenue -12.62% -2.88%
Basic Earnings Per Share -$0.13
Diluted Earnings Per Share -$0.55 -$0.13
COMMON SHARES
Basic Shares Outstanding 2.510M 2.499M
Diluted Shares Outstanding 2.427M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.004M $4.261M
YoY Change -58.06% -63.97%
Cash & Equivalents $4.004M $4.261M
Short-Term Investments
Other Short-Term Assets $597.0K $904.0K
YoY Change -7.73% 44.41%
Inventory $19.04M $18.85M
Prepaid Expenses
Receivables $9.469M $11.41M
Other Receivables $0.00 $0.00
Total Short-Term Assets $33.25M $35.69M
YoY Change -13.21% -16.44%
LONG-TERM ASSETS
Property, Plant & Equipment $10.66M $10.56M
YoY Change 0.94% -4.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $314.0K $316.0K
YoY Change -2.18% -2.47%
Total Long-Term Assets $12.04M $11.75M
YoY Change 2.24% 2.2%
TOTAL ASSETS
Total Short-Term Assets $33.25M $35.69M
Total Long-Term Assets $12.04M $11.75M
Total Assets $45.29M $47.44M
YoY Change -9.58% -12.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.113M $3.274M
YoY Change 369.53% 108.8%
Accrued Expenses $2.506M $2.962M
YoY Change -21.02% -48.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $501.0K $240.0K
YoY Change 81.52% -43.26%
Total Short-Term Liabilities $6.207M $6.612M
YoY Change 46.12% -18.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $326.0K
YoY Change -100.0% -93.25%
Other Long-Term Liabilities $3.975M $5.749M
YoY Change -30.62% 124.92%
Total Long-Term Liabilities $3.975M $326.0K
YoY Change -16.32% -93.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.207M $6.612M
Total Long-Term Liabilities $3.975M $326.0K
Total Liabilities $10.18M $6.938M
YoY Change 13.16% -46.25%
SHAREHOLDERS EQUITY
Retained Earnings $23.74M $25.06M
YoY Change -8.19% -6.39%
Common Stock $15.08M $15.06M
YoY Change 0.37% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.214M $1.258M
YoY Change -10.01% -8.31%
Treasury Stock Shares $104.5K $104.5K
Shareholders Equity $35.11M $34.76M
YoY Change
Total Liabilities & Shareholders Equity $45.29M $47.44M
YoY Change -9.58% -12.49%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.316M -$316.0K
YoY Change 44.62% -109.76%
Depreciation, Depletion And Amortization $301.0K $294.0K
YoY Change -7.38% -10.64%
Cash From Operating Activities $202.0K -$280.0K
YoY Change -111.56% -111.33%
INVESTING ACTIVITIES
Capital Expenditures $394.0K -$497.0K
YoY Change -297.99% 803.64%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$394.0K -$497.0K
YoY Change -654.93% 803.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -65.00K -70.00K
YoY Change -89.24% -69.7%
NET CHANGE
Cash From Operating Activities 202.0K -280.0K
Cash From Investing Activities -394.0K -497.0K
Cash From Financing Activities -65.00K -70.00K
Net Change In Cash -257.0K -847.0K
YoY Change -88.73% -138.75%
FREE CASH FLOW
Cash From Operating Activities $202.0K -$280.0K
Capital Expenditures $394.0K -$497.0K
Free Cash Flow -$192.0K $217.0K
YoY Change -87.6% -91.41%

Facts In Submission

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dei Entity Registrant Name
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SERVOTRONICS, INC.
dei Entity Incorporation State Country Code
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IncreaseDecreaseInOtherAccruedLiabilities
2665000
svt Increase Decrease In Post Retirements Obligations
IncreaseDecreaseInPostRetirementsObligations
86000
svt Increase Decrease In Post Retirements Obligations
IncreaseDecreaseInPostRetirementsObligations
73000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
62000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6338000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
925000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
68000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
38000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-887000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-68000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4250000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
911000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
210000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
271000
svt Proceed Form Debt And Capital Lease Obligations
ProceedFormDebtAndCapitalLeaseObligations
384000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
500000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
81000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4460000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-5285000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
5891000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9546000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5935000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-379000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1742000
CY2022Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
8000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4261000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11826000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4750000
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1.           Basis of Presentation</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">The accompanying unaudited condensed consolidated financial statements (“consolidated financial statements”) have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">The accompanying condensed consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. All such adjustments are of a normal recurring nature. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">The accompanying condensed consolidated financial statements should be read in conjunction with the Consolidated Financial Statements and related Notes to such statements included in the Annual Report on Form 10-K for the year ended December 31, 2021 that was previously filed by the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 18pt;"><i style="font-style:italic;">Risks and Uncertainties</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 0pt 36pt;">Global economic challenges, including the COVID-19 pandemic, severe and sustained inflation, rising interest rates, and supply chain disruptions could cause economic uncertainty and volatility. The impact of these issues on the Company’s operations will vary by market and product line, specific impacts to our business could potentially include delayed or reduced customer orders and sales, restrictions on travel, and delays in shipments to and from certain countries. The Company monitors economic conditions closely. In response to fluctuations in revenue and product demand, the Company can take actions to align its cost structure with changes in demand and manage its working capital. Failure to achieve expected opeating results could have a material adverse effect on our liquidity, our ability to obtain financing, and our operations in the future. However, there can be no assurance as to the effectiveness of these efforts to mitigate any impact of the current and future adverse economic conditions and other developments.</p>
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
140000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
131000
svt Weighted Average Warranty Period
WeightedAverageWarrantyPeriod
P27M
CY2022Q3 svt Warranty Reserve
WarrantyReserve
543000
CY2021Q4 svt Warranty Reserve
WarrantyReserve
511000
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1631000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
811000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
345000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
50000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
720000
us-gaap Interest Paid
InterestPaid
76000
us-gaap Interest Paid
InterestPaid
110000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 36pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 36pt;">Reclassifications</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">Certain balances, as previously reported, were reclassified to conform to classifications adopted in the current period.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 36pt;">Concentration of Credit Risks</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">Financial instruments that potentially subject the Company to concentration of credit risks principally consist of cash accounts in financial institutions. Although the accounts exceed the federally insured deposit amount, management assesses the risk of nonperformance by the financial institutions to be low.</p>
CY2022Q3 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
15007000
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
15952000
CY2022Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
3078000
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
3432000
CY2022Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2398000
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2490000
CY2022Q3 us-gaap Inventory Gross
InventoryGross
20483000
CY2021Q4 us-gaap Inventory Gross
InventoryGross
21874000
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1631000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1742000
CY2022Q3 us-gaap Inventory Net
InventoryNet
18852000
CY2021Q4 us-gaap Inventory Net
InventoryNet
20132000
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33323000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
32473000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22765000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21916000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10558000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10557000
CY2022Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
294000
CY2021Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
329000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
66000
CY2021Q3 us-gaap Adjustment For Amortization
AdjustmentForAmortization
8000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
916000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1043000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
23000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
42000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
566000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
5026000
CY2022Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
240000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
276000
CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
326000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
231000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
182000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
77000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
10000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
83000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
296000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
246000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
246000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
192000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
192000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
83000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
83000
CY2022Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
11000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
11000
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
615000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
828000
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
49000
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
52000
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
566000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
776000
CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
240000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
276000
CY2022Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
326000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
500000
CY2022Q3 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
5885000
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
5865000
CY2022Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
70000
CY2021Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
48000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
208000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
143000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
35366000
CY2022Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
22000
CY2022Q1 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
25000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
325000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
35738000
CY2022Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
22000
CY2022Q2 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
42000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-810000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
34992000
CY2022Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
22000
CY2022Q3 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
59000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-316000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
34757000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
33737000
CY2021Q1 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
15000
CY2021Q1 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
31000
CY2021Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
81000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
541000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
34243000
CY2021Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
16000
CY2021Q2 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
25000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
1186000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
35470000
CY2021Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
15000
CY2021Q3 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
25000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
3238000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
38748000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
126000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
75000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
6576
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
7.60
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
18375
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
9652
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
8.69
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
15299
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
11.03
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15299
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15299
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9868
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9868
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-316000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
3238000
us-gaap Net Income Loss
NetIncomeLoss
-801000
us-gaap Net Income Loss
NetIncomeLoss
4965000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2427000
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2410000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2424000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2404000
CY2022Q3 svt Incremental Common Shares Attributable To Unvested Restricted Stock
IncrementalCommonSharesAttributableToUnvestedRestrictedStock
0
CY2021Q3 svt Incremental Common Shares Attributable To Unvested Restricted Stock
IncrementalCommonSharesAttributableToUnvestedRestrictedStock
10000
svt Incremental Common Shares Attributable To Unvested Restricted Stock
IncrementalCommonSharesAttributableToUnvestedRestrictedStock
0
svt Incremental Common Shares Attributable To Unvested Restricted Stock
IncrementalCommonSharesAttributableToUnvestedRestrictedStock
10000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2427000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2420000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2424000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2414000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.07
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.06
us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
5000000
us-gaap Insured Event Gain Loss
InsuredEventGainLoss
3000000
CY2022Q3 svt Retention Amount Payable
RetentionAmountPayable
1000000
svt Additional Insurance Coverage Policy Amount
AdditionalInsuranceCoveragePolicyAmount
3000000
CY2022Q3 svt Retention Payable At Additional Insurance Coverage
RetentionPayableAtAdditionalInsuranceCoverage
3000000
CY2022Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
-3155
CY2021Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
13000
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
51000
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
59000
CY2022Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
5000
CY2021Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
13000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2

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R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
svt-20220930.xsd Edgar Link pending
svt-20220930x10q.htm Edgar Link pending
svt-20220930xex31d1.htm Edgar Link pending
svt-20220930xex31d2.htm Edgar Link pending
svt-20220930xex32d1.htm Edgar Link pending
svt-20220930xex32d2.htm Edgar Link pending
svt-20220930_def.xml Edgar Link unprocessable
svt-20220930_lab.xml Edgar Link unprocessable
svt-20220930_pre.xml Edgar Link unprocessable
svt-20220930x10q_htm.xml Edgar Link completed
svt-20220930_cal.xml Edgar Link unprocessable