$VIDE
VIDEO DISPLAY CORP

2017 Q3 Form 10-Q Financial Statement

#000119312517310548 Filed on October 16, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $3.161M $3.632M
YoY Change -12.97% -32.44%
Cost Of Revenue $2.683M $3.042M
YoY Change -11.8% 13.8%
Gross Profit $478.0K $590.0K
YoY Change -18.98% -39.98%
Gross Profit Margin 15.12% 16.24%
Selling, General & Admin $1.023M $1.095M
YoY Change -6.58% 0.55%
% of Gross Profit 214.02% 185.59%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $60.00K
YoY Change 0.0% -25.0%
% of Gross Profit 12.55% 10.17%
Operating Expenses $1.023M $1.095M
YoY Change -6.58% 0.55%
Operating Profit -$545.0K -$505.0K
YoY Change 7.92% -39.81%
Interest Expense -$10.00K $140.0K
YoY Change -107.14% -113.33%
% of Operating Profit
Other Income/Expense, Net $322.0K $131.0K
YoY Change 145.8% 191.11%
Pretax Income -$223.0K -$374.0K
YoY Change -40.37% -79.71%
Income Tax -$2.000K $4.000K
% Of Pretax Income
Net Earnings -$221.0K -$378.0K
YoY Change -41.53% -72.33%
Net Earnings / Revenue -6.99% -10.41%
Basic Earnings Per Share -$0.04 -$0.06
Diluted Earnings Per Share -$0.04 -$0.06
COMMON SHARES
Basic Shares Outstanding 5.891M shares 5.891M shares
Diluted Shares Outstanding 5.891M shares 5.891M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $570.0K $780.0K
YoY Change -26.92% -42.65%
Cash & Equivalents $205.0K $499.0K
Short-Term Investments $360.0K $330.0K
Other Short-Term Assets $170.0K $4.710M
YoY Change -96.39% 22.02%
Inventory $4.659M $4.212M
Prepaid Expenses
Receivables $1.625M $2.095M
Other Receivables $180.0K $160.0K
Total Short-Term Assets $7.208M $11.96M
YoY Change -39.73% 0.45%
LONG-TERM ASSETS
Property, Plant & Equipment $1.506M $1.339M
YoY Change 12.47% 3.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $500.0K
YoY Change
Other Assets $26.00K $24.00K
YoY Change 8.33% -17.24%
Total Long-Term Assets $2.528M $2.074M
YoY Change 21.89% -28.61%
TOTAL ASSETS
Total Short-Term Assets $7.208M $11.96M
Total Long-Term Assets $2.528M $2.074M
Total Assets $9.736M $14.03M
YoY Change -30.63% -5.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $584.0K $1.649M
YoY Change -64.58% 460.88%
Accrued Expenses $807.0K $499.0K
YoY Change 61.72% -12.61%
Deferred Revenue
YoY Change
Short-Term Debt $300.0K $0.00
YoY Change
Long-Term Debt Due $55.00K $53.00K
YoY Change 3.77% 3.92%
Total Short-Term Liabilities $2.051M $5.318M
YoY Change -61.43% 102.59%
LONG-TERM LIABILITIES
Long-Term Debt $50.00K $104.0K
YoY Change -51.92% -33.76%
Other Long-Term Liabilities $120.0K $240.0K
YoY Change -50.0% -33.33%
Total Long-Term Liabilities $50.00K $104.0K
YoY Change -51.92% -33.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.051M $5.318M
Total Long-Term Liabilities $50.00K $104.0K
Total Liabilities $2.717M $6.341M
YoY Change -57.15% 101.81%
SHAREHOLDERS EQUITY
Retained Earnings $15.76M $16.48M
YoY Change -4.39% -19.45%
Common Stock $7.527M $7.478M
YoY Change 0.66% 0.12%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.27M $16.27M
YoY Change 0.0% 0.02%
Treasury Stock Shares 3.841M shares 3.841M shares
Shareholders Equity $7.019M $7.693M
YoY Change
Total Liabilities & Shareholders Equity $9.736M $14.03M
YoY Change -30.63% -5.25%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$221.0K -$378.0K
YoY Change -41.53% -72.33%
Depreciation, Depletion And Amortization $60.00K $60.00K
YoY Change 0.0% -25.0%
Cash From Operating Activities $980.0K -$430.0K
YoY Change -327.91% 59.26%
INVESTING ACTIVITIES
Capital Expenditures -$320.0K $10.00K
YoY Change -3300.0% -133.33%
Acquisitions
YoY Change
Other Investing Activities -$690.0K $160.0K
YoY Change -531.25% -93.5%
Cash From Investing Activities -$1.020M $170.0K
YoY Change -700.0% -93.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.00K -240.0K
YoY Change -104.17% -89.66%
NET CHANGE
Cash From Operating Activities 980.0K -430.0K
Cash From Investing Activities -1.020M 170.0K
Cash From Financing Activities 10.00K -240.0K
Net Change In Cash -30.00K -500.0K
YoY Change -94.0% 212.5%
FREE CASH FLOW
Cash From Operating Activities $980.0K -$430.0K
Capital Expenditures -$320.0K $10.00K
Free Cash Flow $1.300M -$440.0K
YoY Change -395.45% 83.33%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q1 vide Stock Repurchase Program Additional Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased
1500000 shares
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
499000
CY2016Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2000
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
3841000 shares
CY2017Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2017Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5891000 shares
CY2017Q3 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2017Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9732000 shares
CY2017Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
5890748 shares
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2632500 shares
CY2017Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
502644 shares
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
15760000
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
496000
CY2017Q3 us-gaap Liabilities
Liabilities
2717000
CY2017Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
9736000
CY2017Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1985000
CY2017Q3 us-gaap Customer Deposits Current
CustomerDepositsCurrent
121000
CY2017Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
584000
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
7019000
CY2017Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
50000
CY2017Q3 us-gaap Common Stock Value
CommonStockValue
7293000
CY2017Q3 us-gaap Short Term Investments
ShortTermInvestments
363000
CY2017Q3 us-gaap Assets
Assets
9736000
CY2017Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
570000
CY2017Q3 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
496000
CY2017Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
26000
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
173000
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
16268000
CY2017Q3 vide Shortterm Investments Gross
ShorttermInvestmentsGross
500000
CY2017Q3 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
234000
CY2017Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7246000
CY2017Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
301000
CY2017Q3 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
120000
CY2017Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
22000
CY2017Q3 us-gaap Notes Payable Current
NotesPayableCurrent
183000
CY2017Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
55000
CY2017Q3 us-gaap Long Term Debt
LongTermDebt
105000
CY2017Q3 us-gaap Liabilities Current
LiabilitiesCurrent
2051000
CY2017Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
807000
CY2017Q3 us-gaap Assets Current
AssetsCurrent
7208000
CY2017Q3 us-gaap Inventory Gross
InventoryGross
6644000
CY2017Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
4829000
CY2017Q3 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
183000
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1506000
CY2017Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2717000
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
205000
CY2017Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
45000
CY2017Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1245000
CY2017Q3 us-gaap Inventory Net
InventoryNet
4659000
CY2017Q3 us-gaap Land
Land
154000
CY2017Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1625000
CY2017Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
568000
CY2017Q3 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
5881000
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8752000
CY2017Q3 vide Investment In Minority Interest
InvestmentInMinorityInterest
500000
CY2017Q3 vide Working Capital Net
WorkingCapitalNet
5157000
CY2017Q3 vide Margin Account Borrowing Outstanding
MarginAccountBorrowingOutstanding
100000
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
595000
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
3841000 shares
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000 shares
CY2017Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5891000 shares
CY2017Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9732000 shares
CY2017Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1281000
CY2017Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2712000
CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
135000
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
10000
CY2017Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
16247000
CY2017Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q1 us-gaap Long Term Notes Payable
LongTermNotesPayable
590000
CY2017Q1 us-gaap Liabilities
Liabilities
3972000
CY2017Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
11430000
CY2017Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1899000
CY2017Q1 us-gaap Customer Deposits Current
CustomerDepositsCurrent
418000
CY2017Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1397000
CY2017Q1 us-gaap Stockholders Equity
StockholdersEquity
7458000
CY2017Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
77000
CY2017Q1 us-gaap Common Stock Value
CommonStockValue
7293000
CY2017Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
186000
CY2017Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7124000
CY2017Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
237000
CY2017Q1 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
180000
CY2017Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
20000
CY2017Q1 us-gaap Notes Payable Current
NotesPayableCurrent
175000
CY2017Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
54000
CY2017Q1 us-gaap Long Term Debt
LongTermDebt
131000
CY2017Q1 us-gaap Liabilities Current
LiabilitiesCurrent
3125000
CY2017Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
834000
CY2017Q1 us-gaap Assets Current
AssetsCurrent
9533000
CY2017Q1 us-gaap Inventory Gross
InventoryGross
7737000
CY2017Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
5217000
CY2017Q1 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
175000
CY2017Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1519000
CY2017Q1 us-gaap Inventory Net
InventoryNet
5838000
CY2017Q1 us-gaap Land
Land
154000
CY2017Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2771000
CY2017Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
503000
CY2017Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
5539000
CY2017Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8405000
CY2017Q1 us-gaap Short Term Investments
ShortTermInvestments
368000
CY2017Q1 us-gaap Assets
Assets
11430000
CY2017Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1001000
CY2017Q1 us-gaap Notes And Loans Receivable Net Noncurrent
NotesAndLoansReceivableNetNoncurrent
590000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
6000
us-gaap Gross Profit
GrossProfit
1006000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
85000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
596000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
206000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
394000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-770000
CY2017Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
26000
CY2017Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
246000
CY2017Q1 us-gaap Treasury Stock Value
TreasuryStockValue
16268000
CY2017Q1 vide Shortterm Investments Gross
ShorttermInvestmentsGross
500000
CY2017Q1 vide Working Capital Net
WorkingCapitalNet
6408000
CY2017Q1 vide Margin Account Borrowing Outstanding
MarginAccountBorrowingOutstanding
100000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-675000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5891000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5891000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.014 pure
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
152000
us-gaap Investment Income Net
InvestmentIncomeNet
188000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
7342000
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
60000
us-gaap Operating Income Loss
OperatingIncomeLoss
-1150000
us-gaap Notes Assumed1
NotesAssumed1
65000
us-gaap Net Income Loss
NetIncomeLoss
-770000
us-gaap Interest Paid
InterestPaid
9000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-297000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1055000
us-gaap Gain Loss On Investments
GainLossOnInvestments
178000
us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
-81000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1516000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-756000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
119000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
45000
us-gaap Notes Reduction
NotesReduction
65000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
846000
us-gaap Share Based Compensation
ShareBasedCompensation
3000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
448000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1708000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
534000
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-25000
us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
793000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-96000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
6336000
us-gaap Increase Decrease In Billing In Excess Of Cost Of Earnings
IncreaseDecreaseInBillingInExcessOfCostOfEarnings
-160000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
766000
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
1569000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
8000
us-gaap Operating Expenses
OperatingExpenses
2156000
vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
vide Noncash Investing And Financing Activities Imputed Interest Expense
NoncashInvestingAndFinancingActivitiesImputedInterestExpense
42000
vide Noncash Investing And Financing Activities Imputed Interest Income
NoncashInvestingAndFinancingActivitiesImputedInterestIncome
42000
vide Proceeds From Payments For Marginal Float
ProceedsFromPaymentsForMarginalFloat
-202000
vide Provision For Inventory Reserves
ProvisionForInventoryReserves
213000
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.02 pure
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> Note 4. &#x2013; Recent Accounting Pronouncements</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> In May, 2014, the FASB issued Accounting Standards Update No. (ASU) 2014-09 <i>&#x201C;Revenue with Contracts from Customers&#x201D;.</i> ASU 2014-09 clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP and International Financial Reporting Standards (&#x201C;IFRS&#x201D;). The new guidance (i)&#xA0;removes inconsistencies, and weaknesses in revenue requirements, (ii)&#xA0;provides a more robust framework for addressing revenue issues, (iii)&#xA0;improves comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets, (iv)&#xA0;provides more useful information to users of financial statements through improved disclosure requirements, and (v)&#xA0;simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. The guidance is effective for annual reporting periods beginning after December&#xA0;15, 2016 including interim periods within that reporting period; however, a one year delay has been approved with the issuance of ASU 2015-14 <i>&#x201C;Revenue with Contracts from Customers&#x201D;</i>. The Company is still evaluating the effects that the adoption of this update will have on the Company&#x2019;s consolidated financial position or results of operations.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In July 2015, the FASB issued ASU 2015-11, &#x201C;<i>Simplifying the Measurement of Inventory&#x201D;</i>. ASU 2015-11 requires an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. The guidance is effective for annual reporting periods beginning after December&#xA0;15, 2016 and related interim periods. Early adoption is permitted. The adoption of this standard did not have a material effect on its consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In November 2015, the FASB issued ASU 2015-17, &#x201C;<i>Balance Sheet Classification of Deferred Taxes&#x201D;.</i> ASU 2015-17 requires deferred tax assets and liabilities, along with related valuation allowances, to be classified as noncurrent on the balance sheet. Each tax jurisdiction will now only have one net noncurrent deferred tax asset or liability. The new guidance does not change the existing requirement that prohibits offsetting deferred tax liabilities from one jurisdiction against deferred tax assets of another jurisdiction. The guidance is effective for annual reporting periods beginning after December&#xA0;15, 2016, including interim periods within that reporting period. Early adoption is permitted. The adoption of this standard did not have a material effect on its consolidated financial statements.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> In February 2016, the FASB issued ASU 2016-02, <i>&#x201C;Leases&#x201D;</i>. ASU 2016-02 increases transparency and comparability among organizations by requiring entities to recognize lease assets and lease liabilities on the balance sheet and disclose key information about the lease arrangements. The guidance is effective for annual reporting periods beginning after December&#xA0;15, 2018, including interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the impact of this guidance on the Company&#x2019;s consolidated financial statements.</p> </div>
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Type
DocumentType
10-Q
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
dei Entity Central Index Key
EntityCentralIndexKey
0000758743
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
961000
dei Trading Symbol
TradingSymbol
VIDE
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5891000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5891000 shares
dei Amendment Flag
AmendmentFlag
false
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
dei Document Period End Date
DocumentPeriodEndDate
2017-08-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.011 pure
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
dei Entity Registrant Name
EntityRegistrantName
VIDEO DISPLAY CORP
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
140000 shares
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
343000
us-gaap Investment Income Net
InvestmentIncomeNet
-6000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
7058000
us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
60000
us-gaap Operating Income Loss
OperatingIncomeLoss
-1071000
us-gaap Notes Assumed1
NotesAssumed1
85000
us-gaap Net Income Loss
NetIncomeLoss
-487000
us-gaap Interest Paid
InterestPaid
8000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1066000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1144000
us-gaap Gain Loss On Investments
GainLossOnInvestments
-5000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-8000
us-gaap Increase Decrease In Notes Receivables
IncreaseDecreaseInNotesReceivables
-85000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
23000
us-gaap Gross Profit
GrossProfit
1075000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
85000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1153000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
603000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
589000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-487000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-73000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-482000
us-gaap Contribution Of Property
ContributionOfProperty
113000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
119000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-875000
us-gaap Notes Reduction
NotesReduction
85000
us-gaap Share Based Compensation
ShareBasedCompensation
48000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
469000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1677000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-16000
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
37000
us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
1121000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
3000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
70000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
5983000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-851000
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-297000
us-gaap Operating Expenses
OperatingExpenses
2146000
vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
vide Noncash Investing And Financing Activities Imputed Interest Expense
NoncashInvestingAndFinancingActivitiesImputedInterestExpense
33000
vide Noncash Investing And Financing Activities Imputed Interest Income
NoncashInvestingAndFinancingActivitiesImputedInterestIncome
33000
vide Proceeds From Payments For Marginal Float
ProceedsFromPaymentsForMarginalFloat
32000
vide Provision For Inventory Reserves
ProvisionForInventoryReserves
113000
vide Payments To Acquire Minority Interest
PaymentsToAcquireMinorityInterest
500000
vide Number Of Business Merged Under Restructuring Plan
NumberOfBusinessMergedUnderRestructuringPlan
2 Business
vide Estimated Cost Savings From Restructuring Plan
EstimatedCostSavingsFromRestructuringPlan
500000
CY2017 vide Operating Cost Increase Decrease Percentage
OperatingCostIncreaseDecreasePercentage
-0.066 pure
CY2017 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.02 pure
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5891000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5891000 shares
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2016Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2016Q3 us-gaap Investment Income Net
InvestmentIncomeNet
139000
CY2016Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
3632000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-505000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-378000
CY2016Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-3000
CY2016Q3 us-gaap Gross Profit
GrossProfit
590000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
131000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-378000
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-374000
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000
CY2016Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
216000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
879000
CY2016Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
3042000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
1095000
CY2016Q3 vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
CY2016Q3 vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5891000 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5891000 shares
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2017Q3 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
797000
CY2017Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
2683000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
1023000
CY2017Q3 vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
CY2017Q3 vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
CY2017Q3 vide Operating Cost Increase Decrease Percentage
OperatingCostIncreaseDecreasePercentage
-0.089 pure
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-545000
CY2017Q3 us-gaap Investment Income Net
InvestmentIncomeNet
-7000
CY2017Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
3161000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-221000
CY2017Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4000
CY2017Q3 us-gaap Gross Profit
GrossProfit
478000
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
333000
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
322000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-221000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-223000
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2000
CY2017Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
226000

Files In Submission

Name View Source Status
0001193125-17-310548-index-headers.html Edgar Link pending
0001193125-17-310548-index.html Edgar Link pending
0001193125-17-310548.txt Edgar Link pending
0001193125-17-310548-xbrl.zip Edgar Link pending
d445307d10q.htm Edgar Link pending
d445307dex311.htm Edgar Link pending
d445307dex312.htm Edgar Link pending
d445307dex32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx 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
R4.htm Edgar Link pending
R5.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
vide-20170831.xml Edgar Link completed
vide-20170831.xsd Edgar Link pending
vide-20170831_cal.xml Edgar Link unprocessable
vide-20170831_def.xml Edgar Link unprocessable
vide-20170831_lab.xml Edgar Link unprocessable
vide-20170831_pre.xml Edgar Link unprocessable