Forward Industries, Inc. (FORD) financial statements (2021 and earlier)

Company profile

Business Address 700 VETERANS MEMORIAL HWY, SUITE 100
HAUPPAUGE, NY 11788
State of Incorp. NY
Fiscal Year End September 30
SIC 3089 - Plastics Products, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2020
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,3322,9253,0934,3704,6234,7614,042
Cash and cash equivalents2,3322,9253,0934,3704,6234,7614,042
Receivables7,7297,6026,6959,0256,2194,8645,454
Inventory, net of allowances, customer advances and progress billings1,2571,2761,6091,5692,1212,5732,866
Inventory1,2571,2761,6091,5692,1212,5732,866
Deferred rent asset 1319    
Other undisclosed current assets339406422248158141296
Total current assets:11,65812,22211,83815,21213,12012,33912,659
Noncurrent Assets
Operating lease, right-of-use asset3,4363,512 
Property, plant and equipment205215243359214379
Intangible assets, net (including goodwill)3,2373,2903,4313,594   
Goodwill1,7591,7592,1822,182   
Intangible assets, net (excluding goodwill)1,4781,5311,2491,411   
Other noncurrent assets7211725564131341
Other undisclosed noncurrent assets  327    
Total noncurrent assets:6,9507,1344,2564,0163456120
TOTAL ASSETS:18,60919,35616,09419,22813,15412,39512,778
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:595615695595383588158
Accounts payable213197315 6762123
Accrued liabilities 1846189532235
Employee-related liabilities 178170168130256 
Other undisclosed accounts payable and accrued liabilities382222164237133247 
Deferred revenue170485220
Debt1,1151,9832,9552,177   
Deferred compensation liability 45834200   
Due to related parties3,4523,6223,2374,1973,7363,5204,168
Other undisclosed current liabilities2,0962,07535545567621,004
Total current liabilities:7,4278,8268,2967,6244,1874,1705,330
Noncurrent Liabilities
Long-term debt and lease obligation3,2893,889 118   
Long-term debt, excluding current maturities 530 54   
Capital lease obligations64   
Operating lease, liability3,2893,359 
Liabilities, other than long-term debt604561386  91
Deferred compensation liability, classified6045 338   
Deferred rent credit  6148
Due to related parties      91
Other undisclosed noncurrent liabilities81326 375125
Total noncurrent liabilities:3,3563,947875043751115
Total liabilities:10,78312,7738,3838,1284,2244,2215,445
Stockholders' equity
Stockholders' equity attributable to parent, including:7,8256,5837,71111,1008,9308,1747,333
Additional paid in capital19,62319,58018,93618,72017,93717,78317,550
Accumulated other comprehensive loss     (22)(22)
Accumulated deficit(11,896)(13,095)(11,320)(7,716)(9,095)(9,675)(10,281)
Other undisclosed stockholders' equity attributable to parent99999595898886
Total stockholders' equity:7,8256,5837,71111,1008,9308,1747,333
TOTAL LIABILITIES AND EQUITY:18,60919,35616,09419,22813,15412,39512,778

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

12/31/2020
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
Revenues35,80334,47837,40934,50024,76527,48030,214
Revenue, net24,76527,48030,014
Cost of revenue(28,622)(27,840)(30,828)(27,931)(20,573)(22,400)(24,221)
Cost of goods and services sold    (20,573)(22,400)(24,221)
Other undisclosed gross profit      (200)
Gross profit:7,1816,6396,5816,5684,1925,0805,793
Operating expenses(8,287)(7,606)(9,678)(6,307)(3,593)(4,463)(7,306)
Other undisclosed operating loss(1,015)(1,015)     
Operating income (loss):(2,121)(1,982)(3,097)261598617(1,513)
Nonoperating income (expense)255(3)(511)372(19)(10)120
Foreign currency transaction gain (loss), before tax (3)(14)(10)  20
Other nonoperating income (expense)4   (19)(10)13
Interest and debt expense1,186(175)(201)(115)   
Income (loss) from continuing operations before equity method investments, income taxes:(679)(2,160)(3,809)517579607(1,392)
Other undisclosed income (loss) from continuing operations before income taxes491394201115  (241)
Income (loss) from continuing operations before income taxes:(188)(1,766)(3,608)632579607(1,633)
Income tax expense (benefit) (9)4747  339
Other undisclosed loss from continuing operations(9)      
Income (loss) from continuing operations:(197)(1,775)(3,604)1,379579607(1,294)
Income from discontinued operations      199
Income (loss) before gain (loss) on sale of properties:(197)(1,775)(3,604)1,379579607(1,095)
Other undisclosed net income37      
Net income (loss):(160)(1,775)(3,604)1,379579607(1,095)
Other undisclosed net loss attributable to parent(335)     (339)
Net income (loss) attributable to parent:(495)(1,775)(3,604)1,379579607(1,434)
Preferred stock dividends and other adjustments      (476)
Net income (loss) available to common stockholders, diluted:(495)(1,775)(3,604)1,379579607(1,910)

Comprehensive Income ($ in thousands)

12/31/2020
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
Net income (loss):(160)(1,775)(3,604)1,379579607(1,095)
Comprehensive income (loss):(160)(1,775)(3,604)1,379579607(1,095)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    22 (340)
Comprehensive income (loss), net of tax, attributable to parent:(160)(1,775)(3,604)1,379601607(1,435)

Statements sources

The financial statements are based on the company's filings with the 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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