$SVT
SERVOTRONICS INC /DE/

2024 Q1 Form 10-K Financial Statement

#000141057824000274 Filed on March 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $10.45M $12.34M $12.13M
YoY Change -3.3% 18.27% -72.32%
Cost Of Revenue $8.711M $9.572M $35.82M
YoY Change -11.89% -2.5% -5.42%
Gross Profit $1.735M $2.766M $7.805M
YoY Change 89.62% 349.76% 31.31%
Gross Profit Margin 16.61% 22.42% 64.35%
Selling, General & Admin $2.018M $2.255M $9.918M
YoY Change -28.59% 1.08% 17.69%
% of Gross Profit 116.31% 81.53% 127.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $271.0K $293.0K $1.083M
YoY Change -11.44% -2.66% -11.01%
% of Gross Profit 15.62% 10.59% 13.88%
Operating Expenses $2.018M $2.255M $9.918M
YoY Change -28.59% 1.08% 17.69%
Operating Profit -$283.0K $511.0K -$2.113M
YoY Change -85.19% -131.62% -14.9%
Interest Expense -$83.00K -$97.00K $336.0K
YoY Change -256.6% 110.87% 40.0%
% of Operating Profit -18.98%
Other Income/Expense, Net -$83.00K -$336.0K
YoY Change 56.6% 64.71%
Pretax Income -$366.0K $414.0K -$2.449M
YoY Change -81.36% -125.06% -8.86%
Income Tax $0.00 $35.00K $1.098M
% Of Pretax Income 8.45%
Net Earnings -$383.0K $465.0K -$10.79M
YoY Change -75.24% -135.33% 409.54%
Net Earnings / Revenue -3.67% 3.77% -88.94%
Basic Earnings Per Share -$0.16 -$4.37
Diluted Earnings Per Share -$0.16 $0.18 -$4.37
COMMON SHARES
Basic Shares Outstanding 2.543M 2.496M 2.470M
Diluted Shares Outstanding 2.519M 2.494M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $136.0K $95.00K $95.00K
YoY Change -79.73% -97.63% -97.63%
Cash & Equivalents $136.0K $95.00K $95.00K
Short-Term Investments
Other Short-Term Assets $3.550M $3.209M $3.209M
YoY Change 119.27% 437.52% 336.6%
Inventory $14.93M $14.20M $14.20M
Prepaid Expenses
Receivables $10.47M $12.07M $12.07M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $29.09M $29.57M $29.57M
YoY Change -13.64% -11.08% -11.08%
LONG-TERM ASSETS
Property, Plant & Equipment $6.859M $6.978M $6.978M
YoY Change -36.43% -34.52% -34.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.00K $42.00K $42.00K
YoY Change -86.5% -86.62% -96.97%
Total Long-Term Assets $6.901M $7.020M $7.020M
YoY Change -43.29% -41.7% -41.7%
TOTAL ASSETS
Total Short-Term Assets $29.09M $29.57M $29.57M
Total Long-Term Assets $6.901M $7.020M $7.020M
Total Assets $35.99M $36.59M $36.59M
YoY Change -21.51% -19.22% -19.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.138M $2.061M $2.061M
YoY Change -47.66% -33.79% -33.79%
Accrued Expenses $3.331M $3.454M $3.454M
YoY Change 6.73% 37.83% 37.83%
Deferred Revenue
YoY Change
Short-Term Debt $2.009M $2.103M $2.103M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.607M $7.928M $7.928M
YoY Change -7.59% 27.73% 27.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.189M $4.165M $4.165M
YoY Change 4.78% 4.78% 4.78%
Total Long-Term Liabilities $4.189M $4.165M $4.165M
YoY Change 4.78% 4.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.607M $7.928M $7.928M
Total Long-Term Liabilities $4.189M $4.165M $4.165M
Total Liabilities $11.80M $12.09M $12.09M
YoY Change 43.29% 18.77% 18.77%
SHAREHOLDERS EQUITY
Retained Earnings $12.57M $12.95M
YoY Change -43.36% -45.44%
Common Stock $15.19M $15.14M
YoY Change 0.6% 0.42%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.138M $1.157M
YoY Change -4.37% -4.7%
Treasury Stock Shares
Shareholders Equity $24.19M $24.49M $24.49M
YoY Change
Total Liabilities & Shareholders Equity $35.99M $36.59M $36.59M
YoY Change -21.51% -19.22% -19.22%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$383.0K $465.0K -$10.79M
YoY Change -75.24% -135.33% 409.54%
Depreciation, Depletion And Amortization $271.0K $293.0K $1.083M
YoY Change -11.44% -2.66% -11.01%
Cash From Operating Activities $287.0K $23.00K -$6.638M
YoY Change -110.13% -88.61% -2614.39%
INVESTING ACTIVITIES
Capital Expenditures $152.0K $83.00K $689.0K
YoY Change -65.22% -78.93% -47.76%
Acquisitions
YoY Change
Other Investing Activities $58.00K $2.158M
YoY Change 5578.95%
Cash From Investing Activities -$152.0K -$25.00K $1.469M
YoY Change -65.22% -93.65% -214.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -94.00K -61.00K 1.602M
YoY Change -121.46% -6.15% -135.4%
NET CHANGE
Cash From Operating Activities 287.0K 23.00K -6.638M
Cash From Investing Activities -152.0K -25.00K 1.469M
Cash From Financing Activities -94.00K -61.00K 1.602M
Net Change In Cash -246.0K -63.00K 1.602M
YoY Change -91.32% -75.49% -128.91%
FREE CASH FLOW
Cash From Operating Activities $287.0K $23.00K -$6.638M
Capital Expenditures $152.0K $83.00K $689.0K
Free Cash Flow $135.0K -$60.00K -$7.327M
YoY Change -104.13% -68.75% 594.5%

Facts In Submission

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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
909000
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-741000
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
221000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1410000
CY2023 svt Increase Decrease Accrued Employee Compensation And Benefit Costs
IncreaseDecreaseAccruedEmployeeCompensationAndBenefitCosts
-54000
CY2022 svt Increase Decrease Accrued Employee Compensation And Benefit Costs
IncreaseDecreaseAccruedEmployeeCompensationAndBenefitCosts
-473000
CY2023 us-gaap Increase Decrease In Postretirement Obligations
IncreaseDecreaseInPostretirementObligations
148000
CY2022 us-gaap Increase Decrease In Postretirement Obligations
IncreaseDecreaseInPostretirementObligations
186000
CY2023 us-gaap Increase Decrease In Other Employee Related Liabilities
IncreaseDecreaseInOtherEmployeeRelatedLiabilities
101000
CY2022 us-gaap Increase Decrease In Other Employee Related Liabilities
IncreaseDecreaseInOtherEmployeeRelatedLiabilities
101000
CY2023 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1513000
CY2022 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
61000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-3815000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-351000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
689000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1234000
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
38000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-689000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1196000
CY2023 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
2103000
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4250000
CY2023 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
501000
CY2022 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
275000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1602000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4525000
CY2023 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-2823000
CY2022 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
536000
CY2023 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
2158000
CY2022 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-85000
CY2023 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
-665000
CY2022 us-gaap Net Cash Provided By Used In Discontinued Operations
NetCashProvidedByUsedInDiscontinuedOperations
451000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3567000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-5621000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3812000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9433000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
245000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3812000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
95000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3812000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
150000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
245000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3812000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
150000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
121000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
116000
CY2023 svt Weighted Average Warranty Period
WeightedAverageWarrantyPeriod
P27M
CY2023Q4 svt Warranty Reserve
WarrantyReserve
542000
CY2022Q4 svt Warranty Reserve
WarrantyReserve
581000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
587000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
602000
CY2023 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
146000
CY2022 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
811000
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
175000
CY2023 us-gaap Interest Paid
InterestPaid
366000
CY2022 us-gaap Interest Paid
InterestPaid
240000
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 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 0pt;">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 0pt;">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>
CY2023 us-gaap Reclassifications
Reclassifications
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Reclassifications</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Certain balances, as previously reported, were reclassified to classifications adopted in the current period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Effective January 1, 2023, research and development costs, certain insurance expenses and other costs of approximately $1,892,000 were reclassed primarily from cost of goods sold to selling, general and administrative expenses. Accordingly, approximately $1,475,000 for the year ended December 31, 2022 was reclassified from cost of goods sold to selling, general and administrative expenses. There was no impact to the Consolidated Statement of Operations due to the reclassification.</p>
CY2023 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 0pt;">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 0pt;">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>
CY2023Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
7828000
CY2022Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
7199000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
6466000
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
6490000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
491000
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1199000
CY2023Q4 us-gaap Inventory Gross
InventoryGross
14785000
CY2022Q4 us-gaap Inventory Gross
InventoryGross
14888000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
587000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
602000
CY2023Q4 us-gaap Inventory Net
InventoryNet
14198000
CY2022Q4 us-gaap Inventory Net
InventoryNet
14286000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
24056000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23366000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17078000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16011000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6978000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7355000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1083000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
951000
CY2023 us-gaap Depreciation
Depreciation
1042000
CY2022 us-gaap Depreciation
Depreciation
927000
CY2023 us-gaap Adjustment For Amortization
AdjustmentForAmortization
41000
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
24000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
2103000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
501000
CY2023Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
2103000
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
501000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
0
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
2103000
CY1985Q4 us-gaap Employee Stock Ownership Plan Esop Debt Structure Direct Loan Amount
EmployeeStockOwnershipPlanESOPDebtStructureDirectLoanAmount
2000000
CY2023 svt Employee Stock Ownership Plan Debt Structure Interest Rate Description
EmployeeStockOwnershipPlanDebtStructureInterestRateDescription
prime rate
CY2023 svt Employee Stock Ownership Plan Debt Structure Direct Loan Term
EmployeeStockOwnershipPlanDebtStructureDirectLoanTerm
P40Y
CY1987Q4 svt Employee Stock Ownership Plan Debt Structure Additional Direct Loan Amount
EmployeeStockOwnershipPlanDebtStructureAdditionalDirectLoanAmount
1942000
CY1988Q4 svt Employee Stock Ownership Plan Debt Structure Additional Direct Loan Amount
EmployeeStockOwnershipPlanDebtStructureAdditionalDirectLoanAmount
1942000
CY2023 svt Employee Stock Ownership Plan Esop Shares Subject To Repurchase Obligation
EmployeeStockOwnershipPlanEsopSharesSubjectToRepurchaseObligation
0
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
321141
CY2023Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
26752
CY2022Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
41270
CY2022 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
101000
CY2023 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
101000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
35366000
CY2022 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
1672000
CY2022 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
191000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-2117000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
35112000
CY2023 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
49000
CY2023 us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
120000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-10787000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
24494000
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24110
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27010
CY2023 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3547000
CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-2100000
CY2023 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-7240000
CY2022 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-17000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-10787000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-2117000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2470000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2422000
CY2023 svt Incremental Common Shares Attributable To Unvested Restricted Stock
IncrementalCommonSharesAttributableToUnvestedRestrictedStock
24000
CY2022 svt Incremental Common Shares Attributable To Unvested Restricted Stock
IncrementalCommonSharesAttributableToUnvestedRestrictedStock
27000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2494000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2449000
CY2023 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-1.44
CY2022 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.87
CY2023 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-2.93
CY2022 us-gaap Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
-0.01
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.37
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.88
CY2023 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
22000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
191000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
17381
CY2023 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
11.50
CY2023 svt Maximum Potential Stock Based Compensation Expense
MaximumPotentialStockBasedCompensationExpense
400000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
24000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
61000
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
26000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
61000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1072000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-626000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0
CY2023 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
1072000
CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-626000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1098000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-565000
CY2022 svt Current Federal Tax Expense Benefit Discontinued Operations
CurrentFederalTaxExpenseBenefitDiscontinuedOperations
-42000
CY2022 svt Current Federal State And Local Tax Expense Benefit Discontinued Operations
CurrentFederalStateAndLocalTaxExpenseBenefitDiscontinuedOperations
-42000
CY2022 svt Deferred Federal Income Tax Expense Benefit Discontinued Operations
DeferredFederalIncomeTaxExpenseBenefitDiscontinuedOperations
37000
CY2022 svt Deferred Federal State And Local Tax Expense Benefit Discontinued Operations
DeferredFederalStateAndLocalTaxExpenseBenefitDiscontinuedOperations
37000
CY2022 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-5000
CY2023 us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
1098000
CY2022 us-gaap Income Tax Expense Benefit Continuing Operations Discontinued Operations Extraordinary Items
IncomeTaxExpenseBenefitContinuingOperationsDiscontinuedOperationsExtraordinaryItems
-570000
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.002
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.001
CY2023 svt Effective Income Tax Rate Reconciliation Business Credits
EffectiveIncomeTaxRateReconciliationBusinessCredits
0.028
CY2022 svt Effective Income Tax Rate Reconciliation Business Credits
EffectiveIncomeTaxRateReconciliationBusinessCredits
0.001
CY2023 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
EffectiveIncomeTaxRateReconciliationFdiiPercent
0.000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Percent
EffectiveIncomeTaxRateReconciliationFdiiPercent
0.000
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.001
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.001
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.686
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.003
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.448
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.212
CY2023Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
254000
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
110000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
362000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
399000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
635000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Postretirement Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsPostretirementBenefits
621000
CY2023Q4 svt Deferred Tax Assets Operating Loss And Credit Carryforwards State
DeferredTaxAssetsOperatingLossAndCreditCarryforwardsState
177000
CY2022Q4 svt Deferred Tax Assets Operating Loss And Credit Carryforwards State
DeferredTaxAssetsOperatingLossAndCreditCarryforwardsState
173000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
1493000
CY2023Q4 svt Deferred Tax Assets Bad Debt Reserve
DeferredTaxAssetsBadDebtReserve
26000
CY2022Q4 svt Deferred Tax Assets Bad Debt Reserve
DeferredTaxAssetsBadDebtReserve
25000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
114000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Warranty Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsWarrantyReserves
122000
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
751000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
615000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
344000
CY2023Q4 svt Deferred Tax Asset Disallowed Interest
DeferredTaxAssetDisallowedInterest
83000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
40000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4279000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2065000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3145000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
173000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1134000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1892000
CY2023Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
71000
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
70000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
853000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
774000
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
210000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1134000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
844000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1048000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3145000
CY2023Q4 svt State And Local Deferred Tax Assets Valuation Allowance
StateAndLocalDeferredTaxAssetsValuationAllowance
2972000
CY2022Q4 svt State And Local Deferred Tax Assets Valuation Allowance
StateAndLocalDeferredTaxAssetsValuationAllowance
173000
CY2023Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
7100000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2023Q4 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
1000000
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
1000000
CY2023 us-gaap Proceeds From Insurance Premiums Collected
ProceedsFromInsurancePremiumsCollected
1000000
CY2021Q2 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
5000000
CY2022Q1 us-gaap Insured Event Gain Loss
InsuredEventGainLoss
3000000
CY2022Q1 svt Retention Amount Payable
RetentionAmountPayable
250000
CY2023 svt Additional Insurance Coverage Policy Amount
AdditionalInsuranceCoveragePolicyAmount
3000000
CY2023Q4 svt Retention Payable At Additional Insurance Coverage
RetentionPayableAtAdditionalInsuranceCoverage
3000000
CY2023 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0
CY2023 us-gaap Legal Fees
LegalFees
8000
CY2022 us-gaap Legal Fees
LegalFees
51000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
0
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
13000
CY2023 us-gaap Revenues
Revenues
12129000
CY2022 us-gaap Revenues
Revenues
10541000

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