$VIDE
VIDEO DISPLAY CORP

2020 Q1 Form 10-K Financial Statement

#000119312520155251 Filed on May 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1 2019
Revenue $3.194M $3.511M $15.02M
YoY Change -9.03% 9.04% 25.78%
Cost Of Revenue $2.005M $2.442M $10.98M
YoY Change -17.9% -31.4% -3.27%
Gross Profit $1.189M $1.069M $4.040M
YoY Change 11.23% -413.49% 584.75%
Gross Profit Margin 37.23% 30.45% 26.89%
Selling, General & Admin $1.178M $1.285M $4.489M
YoY Change -8.33% 29.8% 5.43%
% of Gross Profit 99.07% 120.21% 111.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $58.00K $57.00K $256.0K
YoY Change 1.75% -28.75% -1.92%
% of Gross Profit 4.88% 5.33% 6.34%
Operating Expenses $1.178M $1.285M $4.489M
YoY Change -8.33% 29.8% 5.43%
Operating Profit $11.00K -$216.0K -$449.0K
YoY Change -105.09% -83.77% -87.76%
Interest Expense -$7.000K -$11.00K $23.00K
YoY Change -36.36% -210.0% -866.67%
% of Operating Profit -63.64%
Other Income/Expense, Net $179.0K $174.0K $516.0K
YoY Change 2.87% 117.5% -29.32%
Pretax Income $183.0K -$53.00K $67.00K
YoY Change -445.28% -95.76% -102.28%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings $183.0K -$52.00K $67.00K
YoY Change -451.92% -95.83% -102.28%
Net Earnings / Revenue 5.73% -1.48% 0.45%
Basic Earnings Per Share $0.03 -$0.01 $0.01
Diluted Earnings Per Share $0.03 -$0.01 $0.01
COMMON SHARES
Basic Shares Outstanding 5.878M
Diluted Shares Outstanding 6.078M

Balance Sheet

Concept 2020 Q1 2019 Q1 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $844.0K $410.0K $410.0K
YoY Change 105.85% 57.69% 57.09%
Cash & Equivalents $844.0K $410.0K $410.0K
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $411.0K $476.0K $476.0K
YoY Change -13.66% 580.0% 632.31%
Inventory $4.480M $3.451M $3.451M
Prepaid Expenses
Receivables $1.305M $1.746M $1.746M
Other Receivables $189.0K $209.0K $209.0K
Total Short-Term Assets $7.229M $6.292M $6.292M
YoY Change 14.89% 9.14% 9.14%
LONG-TERM ASSETS
Property, Plant & Equipment $1.270M $1.321M $1.321M
YoY Change -3.86% -9.71% -9.71%
Goodwill
YoY Change
Intangibles $387.0K
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $2.000K $5.000K $5.000K
YoY Change -60.0% -80.77% -80.77%
Total Long-Term Assets $3.290M $1.515M $1.515M
YoY Change 117.16% -33.02% -33.02%
TOTAL ASSETS
Total Short-Term Assets $7.229M $6.292M $6.292M
Total Long-Term Assets $3.290M $1.515M $1.515M
Total Assets $10.52M $7.807M $7.807M
YoY Change 34.74% -2.74% -2.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.256M $1.008M $1.008M
YoY Change 24.6% -4.36% -4.36%
Accrued Expenses $499.0K $382.0K $382.0K
YoY Change 30.63% -56.44% -56.44%
Deferred Revenue $2.338M $1.100M
YoY Change 112.55% 150.57%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $0.00 $23.00K $448.0K
YoY Change -100.0% -58.18% 29.48%
Total Short-Term Liabilities $5.966M $2.938M $2.938M
YoY Change 103.06% -2.16% -2.16%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $189.0K
YoY Change -55.11%
Other Long-Term Liabilities $1.091M $19.00K $19.00K
YoY Change 5642.11% 11.76% 11.76%
Total Long-Term Liabilities $0.00 $19.00K $208.0K
YoY Change -100.0% -52.5% -52.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.966M $2.938M $2.938M
Total Long-Term Liabilities $0.00 $19.00K $208.0K
Total Liabilities $7.057M $3.146M $3.146M
YoY Change 124.32% -8.57% -8.57%
SHAREHOLDERS EQUITY
Retained Earnings $12.17M $13.38M
YoY Change -9.02% 0.5%
Common Stock $7.574M $7.567M
YoY Change 0.09% 0.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.28M $16.28M
YoY Change 0.0% 0.06%
Treasury Stock Shares $3.854M $3.854M
Shareholders Equity $3.462M $4.661M $4.661M
YoY Change
Total Liabilities & Shareholders Equity $10.52M $7.807M $7.807M
YoY Change 34.74% -2.74% -2.74%

Cashflow Statement

Concept 2020 Q1 2019 Q1 2019
OPERATING ACTIVITIES
Net Income $183.0K -$52.00K $67.00K
YoY Change -451.92% -95.83% -102.28%
Depreciation, Depletion And Amortization $58.00K $57.00K $256.0K
YoY Change 1.75% -28.75% -1.92%
Cash From Operating Activities $753.0K $934.0K $198.0K
YoY Change -19.38% 211.33% -73.67%
INVESTING ACTIVITIES
Capital Expenditures -$1.000K -$122.0K $152.0K
YoY Change -99.18% 103.33% -67.17%
Acquisitions
YoY Change
Other Investing Activities $0.00 $63.00K $565.0K
YoY Change -100.0% -86.3% -311.61%
Cash From Investing Activities -$1.000K -$59.00K $413.0K
YoY Change -98.31% -115.13% -156.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.00K
YoY Change 150.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 19.00K -499.0K -282.0K
YoY Change -103.81% -31.64% 271.05%
NET CHANGE
Cash From Operating Activities 753.0K 934.0K 198.0K
Cash From Investing Activities -1.000K -59.00K 413.0K
Cash From Financing Activities 19.00K -499.0K -282.0K
Net Change In Cash 771.0K 376.0K 329.0K
YoY Change 105.05% -1040.0% -709.26%
FREE CASH FLOW
Cash From Operating Activities $753.0K $934.0K $198.0K
Capital Expenditures -$1.000K -$122.0K $152.0K
Free Cash Flow $754.0K $1.056M $46.00K
YoY Change -28.6% 193.33% -84.08%

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<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Fiscal Year </div></div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">All references herein to &#8220;2020&#8221; and &#8220;2019&#8221; mean the fiscal years ended February&#160;29, 2020 and February&#160;28, 2019, respectively. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2020 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates </div></div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenues and expenses during the reporting period. Examples include provisions for returns, warranty reserves, bad debts, inventory reserves, valuations on deferred income tax assets, other intangible assets, accounting for percentage of completion contracts and the length of product life cycles and fixed asset lives. Actual results could vary from these estimates. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
67000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6078000
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2019Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
49000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000
CY2020 us-gaap Depreciation
Depreciation
226000
CY2019 us-gaap Depreciation
Depreciation
256000
CY2020 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
200000
CY2020 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
7000
CY2018Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
19000
CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-1206000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5878000
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1206000
CY2020Q1 vide Deferred Tax Assets Amortizable Intangibles
DeferredTaxAssetsAmortizableIntangibles
1000
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
200000
CY2020Q1 vide Accrued Customer Deposit And Accrued Liabilities Current
AccruedCustomerDepositAndAccruedLiabilitiesCurrent
499000
CY2020 us-gaap Inventory Write Down
InventoryWriteDown
100000
CY2019 us-gaap Inventory Write Down
InventoryWriteDown
900000
CY2019Q1 vide Deferred Tax Assets Amortizable Intangibles
DeferredTaxAssetsAmortizableIntangibles
2000
CY2019Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
37000
CY2018Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
127000
CY2020 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
63000
CY2019 us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
-77000
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
49000
CY2019 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
13000
CY2020Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
51000
CY2020Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
238000
CY2019Q1 vide Accrued Customer Deposit And Accrued Liabilities Current
AccruedCustomerDepositAndAccruedLiabilitiesCurrent
382000
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.82
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
200000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.82
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
200000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0.82
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
107000
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.82
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
153000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0.82
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
247000
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
17000
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
19000
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
22000
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-336000
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-57000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
70000
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
18000
CY2020Q1 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
191000
CY2019Q1 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
211000
CY2020Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
44000
CY2019Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
44000
CY2020Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
2000
CY2019Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
4000
CY2020Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
6064000
CY2019Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5756000
CY2020 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0
CY2019 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
0
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3321000
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4021000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
2000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
20000
CY2019 vide Noncash Investing And Financing Activities Imputed Interest Expense
NoncashInvestingAndFinancingActivitiesImputedInterestExpense
45000
CY2020 vide Noncash Investing And Financing Activities Imputed Interest Income
NoncashInvestingAndFinancingActivitiesImputedInterestIncome
-27000
CY2019 vide Noncash Investing And Financing Activities Imputed Interest Income
NoncashInvestingAndFinancingActivitiesImputedInterestIncome
-45000
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2709000
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3228000
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1466000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3194000
CY2019Q2 us-gaap Gross Profit
GrossProfit
425000
CY2019Q3 us-gaap Gross Profit
GrossProfit
499000
CY2019Q4 us-gaap Gross Profit
GrossProfit
264000
CY2020Q1 us-gaap Gross Profit
GrossProfit
1189000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-326000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-435000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-628000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
183000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2018Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4170000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3511000
CY2018Q2 us-gaap Gross Profit
GrossProfit
996000
CY2018Q3 us-gaap Gross Profit
GrossProfit
879000
CY2018Q4 us-gaap Gross Profit
GrossProfit
1096000
CY2019Q1 us-gaap Gross Profit
GrossProfit
1069000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
54000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-6000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
71000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-52000
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2018Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
CY2020Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
106000
CY2019Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
73000
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1631000
CY2019 vide Deferred Rental Income
DeferredRentalIncome
60000
CY2020 vide Stock Repurchase Program
StockRepurchaseProgram
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Share Repurchase Program </div></div></div><div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;">The Company has a share repurchase program, pursuant to which it had been authorized to repurchase up to 2,632,500 shares of the Company&#8217;s common stock in the open market. On January&#160;20, 2014 the Board of Directors of the Company approved a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">one-time</div> continuation of the stock repurchase program, and authorized the Company to repurchase up to 1,500,000 additional shares of the Company&#8217;s common stock in the open market. There is no minimum number of shares required to be repurchased under the program. During the fiscal year ended February&#160;29, 2020, the Company did not repurchase any of its shares. The Company repurchased 8,858 shares at an average price of $1.12 per share which were added to treasury shares on the consolidated balance sheet during the fiscal year ended February&#160;28, 2019. Under this program, an additional 490,186 shares remain authorized to be repurchased by the Company at February&#160;29, 2020.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020 us-gaap Revenues
Revenues
10597000
CY2020 us-gaap Revenue Performance Obligation Description Of Timing
RevenuePerformanceObligationDescriptionOfTiming
We expect to recognize revenue these remaining performance obligations over the next 24 months. We have elected not to provide disclosures regarding remaining performance obligations for contracts with a term of 1 year or less.
CY2020Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2632500
CY2014Q1 vide Stock Repurchase Program Additional Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased
1500000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
40000000
CY2020 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
8858
CY2020 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
1.12
CY2020Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
490186
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
404000
CY2020 dei Document Type
DocumentType
10-K
CY2020 dei Amendment Flag
AmendmentFlag
false
CY2020 dei Document Period End Date
DocumentPeriodEndDate
2020-02-29
CY2020 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2020 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2020 dei Trading Symbol
TradingSymbol
VIDE
CY2020 dei Entity Registrant Name
EntityRegistrantName
VIDEO DISPLAY CORP
CY2020 dei Entity Central Index Key
EntityCentralIndexKey
0000758743
CY2020 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-29
CY2020 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2020 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2020 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2020 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2019Q3 dei Entity Public Float
EntityPublicFloat
530132
CY2020Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
5878290
CY2020 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020 dei Entity Shell Company
EntityShellCompany
false
CY2020 dei Entity Small Business
EntitySmallBusiness
true
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1091000
CY2020Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
387000
CY2020Q1 us-gaap Notes Payable
NotesPayable
100000
CY2019Q1 us-gaap Notes Payable
NotesPayable
100000
CY2020 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
CY2019 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
2006-08-25
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.24
CY2020Q1 vide Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1.00
CY2020 vide Operating Loss Carry Forward Expiration Year
OperatingLossCarryForwardExpirationYear
2040
CY2020 us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
72000
CY2019 us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
1309000
CY2019 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
33000
CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
71000
CY2020Q1 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
56000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
233587000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
100000000
CY2020Q1 vide Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles Customer Relationships
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangiblesCustomerRelationships
333000000
CY2020Q1 vide Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles Trade Name
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangiblesTradeName
54200000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
760787000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
120852000
CY2020Q1 vide Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Customer Deposits
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesCustomerDeposits
56000000
CY2020Q1 vide Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Notes Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesNotesPayable
583935000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
760787000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
0
CY2019 vide Proceeds From Sale Of Investment In Llc
ProceedsFromSaleOfInvestmentInLlc
166000
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
14000
CY2019 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2000
CY2020 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
33000
CY2019 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
290000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
200000
CY2020 dei Security12b Title
Security12bTitle
Common Stock
CY2020 dei Entity Address Country
EntityAddressCountry
GE
CY2020 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2020 dei Security Exchange Name
SecurityExchangeName
NONE
CY2019Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
23000
CY2019Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
3854000
CY2020Q1 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
1365000
CY2019Q1 us-gaap Deferred Tax Assets Unrealized Losses On Trading Securities
DeferredTaxAssetsUnrealizedLossesOnTradingSecurities
1360000
CY2020Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
808000
CY2019Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
717000
CY2020Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
319000
CY2019Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
318000
CY2020Q1 vide Deferred Tax Assets Uniform Capitalization
DeferredTaxAssetsUniformCapitalization
101000
CY2019Q1 vide Deferred Tax Assets Uniform Capitalization
DeferredTaxAssetsUniformCapitalization
85000
CY2020Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
73000
CY2019Q1 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
99000
CY2020Q1 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
39000
CY2019Q1 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
43000
CY2020Q1 vide Deferred Tax Assets Liabilities Other Current
DeferredTaxAssetsLiabilitiesOtherCurrent
-9000
CY2019Q1 vide Deferred Tax Assets Liabilities Other Current
DeferredTaxAssetsLiabilitiesOtherCurrent
-10000
CY2020 us-gaap Notes Assumed1
NotesAssumed1
209000
CY2019 us-gaap Notes Assumed1
NotesAssumed1
191000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1648000
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
590000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
572000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
271000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
190000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
190000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1813000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
165000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1648000
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
359000
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
359000
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
227000
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
113000
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
1058000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
600000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
600000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
600000
CY2020 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
400000
CY2020 vide Reduction In Related Party Rent Owed To Officer In Lieu Of Notes Payable
ReductionInRelatedPartyRentOwedToOfficerInLieuOfNotesPayable
439000
CY2019 vide Reduction In Related Party Rent Owed To Officer In Lieu Of Notes Payable
ReductionInRelatedPartyRentOwedToOfficerInLieuOfNotesPayable
0
CY2019Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5878000
CY2020Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
3130000
CY2019Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
2883000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020 vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
CY2020 vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
CY2020Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2019Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0

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