ARTS WAY MANUFACTURING CO INC (ARTW) Financial Statements (2024 and earlier)

Company Profile

Business Address P O BOX 288
ARMSTRONG, IA 50514
State of Incorp. DE
Fiscal Year End November 30
Industry (SIC) 3523 - Farm Machinery and Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

2/29/2024
MRQ
11/30/2023
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments453334
Cash and cash equivalents453334
Net investment in lease, before allowance for credit loss    28 
Receivables3,4322,7222,6632,3911,6801,537
Inventory, net of allowances, customer advances and progress billings11,03110,6129,2107,7628,77910,257
Inventory11,03110,6129,2107,7628,77910,257
Contract with customer, asset, after allowance for credit loss28945117756727 
Disposal group, including discontinued operation32     
Other current assets2973441216171125
Other undisclosed current assets     148222
Total current assets:15,08514,13312,17410,30111,40712,145
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization     
Operating lease, right-of-use asset   28 
Property, plant and equipment 5,0616,1795,2375,2195,3635,647
Long-term investments and receivables      154
Capital leases, lessor balance sheet, net investment in direct financing and sales type leases154
Disposal group, including discontinued operation, noncurrent assets1,024     
Deferred income tax assets2,5032,6052,6222,668 
Other noncurrent assets584630299947176
Other undisclosed noncurrent assets1454005224942,5063,303
Total noncurrent assets:9,3179,8158,6808,5027,9409,180
TOTAL ASSETS:24,40223,94820,85418,80319,34721,325
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,6563,9142,9543,2362,3451,702
Taxes payable6166
Accounts payable2,2572,6311,7371,9551,205802
Accrued liabilities1,3991,2831,2111,2791,133893
Deferred revenue416829279198105
Debt367269999585227
Disposal group, including discontinued operation187     
Other undisclosed current liabilities4,7704,2564,3552,6362,6673,836
Total current liabilities:9,3959,2677,6876,1655,2035,765
Noncurrent Liabilities
Long-term debt and lease obligation3,3523,5062,8132,7312,3512,523
Long-term debt, excluding current maturities2,6302,9042,6352,7132,3512,523
Finance lease, liability722602142  
Liabilities, other than long-term debt1424    
Operating lease, liability14243518 
Other undisclosed noncurrent liabilities   (35)(18)  
Total noncurrent liabilities:3,3663,5302,8132,7312,3512,523
Total liabilities:12,76112,79810,5008,8967,5538,288
Equity
Equity, attributable to parent11,64111,15110,3549,90711,79413,037
Common stock515046454342
Treasury stock, value(269)(201)(109)(78)(47)(28)
Additional paid in capital4,8384,5473,7613,4963,2503,056
Retained earnings7,0216,7546,6566,4448,5479,967
Total equity:11,64111,15110,3549,90711,79413,037
TOTAL LIABILITIES AND EQUITY:24,40223,94820,85418,80319,34721,325

Income Statement (P&L) ($ in thousands)

2/29/2024
TTM
11/30/2023
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
Revenues30,28128,40024,96522,40922,88919,727
Cost of revenue
(Cost of Goods and Services Sold)
(21,697)(21,093)(18,369)(20,010)(18,961)(16,215)
Other undisclosed gross profit      
Gross profit:8,5847,3076,5962,4003,9283,512
Operating expenses(7,053)(6,974)(6,073)(6,309)(5,425)(6,607)
Operating income (loss):1,531333523(3,910)(1,497)(3,095)
Nonoperating income (expense)(442)(216)(257)950(272)(751)
Other nonoperating income (expense)148238571,25486(447)
Interest and debt expense(590)(454)(313)(305)(358)(305)
Income (loss) from continuing operations before equity method investments, income taxes:499(337)(47)(3,265)(2,127)(4,151)
Other undisclosed income from continuing operations before income taxes590454313305358305
Income (loss) from continuing operations before income taxes:1,089117267(2,960)(1,769)(3,846)
Income tax expense (benefit)(326)(19)(54)856349510
Income (loss) from continuing operations:76398213(2,103)(1,420)(3,336)
Income (loss) before gain (loss) on sale of properties:213(2,103)(1,420)(3,387)
Loss from discontinued operations(496)    (51)
Net income (loss):26798213(2,103)(1,420)(3,387)
Other undisclosed net loss attributable to parent      
Net income (loss) available to common stockholders, diluted:26798213(2,103)(1,420)(3,387)

Comprehensive Income ($ in thousands)

2/29/2024
TTM
11/30/2023
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
Net income (loss):26798213(2,103)(1,420)(3,387)
Comprehensive income (loss):26798213(2,103)(1,420)(3,387)
Other undisclosed comprehensive income, net of tax, attributable to parent      257
Comprehensive income (loss), net of tax, attributable to parent:26798213(2,103)(1,420)(3,130)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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