Forward Industries, Inc. (FORD) financial statements (2020 and earlier)

Company profile

Business Address 477 ROSEMARY AVE.
WEST PALM BEACH, FL 33401
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)

12/31/2019
TTM
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,0693,0934,3704,6234,7614,0427,528
Cash and cash equivalents2,0693,0934,3704,6234,7614,0426,477
Short-term investments      1,051
Receivables7,3216,6959,0256,2194,8645,4546,125
Inventory, net of allowances, customer advances and progress billings1,1001,6091,5692,1212,5732,8662,375
Inventory1,1001,6091,5692,1212,5732,8662,375
Deferred rent asset 19     
Disposal group, including discontinued operation      0
Other undisclosed current assets490422248158141296402
Total current assets:10,97911,83815,21213,12012,33912,65916,430
Noncurrent Assets
Operating lease, right-of-use asset3,570 
Property, plant and equipment22124335921437999
Intangible assets, net (including goodwill)3,3903,4313,594    
Goodwill2,1822,1822,182    
Intangible assets, net (excluding goodwill)1,2081,2491,411    
Other noncurrent assets2172556413134141
Other undisclosed noncurrent assets327327     
Total noncurrent assets:7,7264,2564,0163456120140
TOTAL ASSETS:18,70516,09419,22813,15412,39512,77816,570
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:696695595383588158938
Accounts payable279315 6762123667
Accrued liabilities 46189532235121
Employee-related liabilities 170168130256  
Settlement liabilities      150
Other undisclosed accounts payable and accrued liabilities416164237133247  
Deferred revenue59220
Debt3,2022,9552,177    
Deferred compensation liability634834200    
Due to related parties2,7273,2374,1973,7363,5204,1685,216
Disposal group, including discontinued operation      3
Other undisclosed current liabilities31935545567621,004277
Total current liabilities:7,6368,2967,6244,1874,1705,3306,434
Noncurrent Liabilities
Long-term debt and lease obligation3,389 118    
Long-term debt, excluding current maturities  54    
Capital lease obligations64    
Operating lease, liability3,389 
Liabilities, other than long-term debt 61386  91 
Deferred compensation liability, classified  338    
Deferred rent credit 6148
Due to related parties     91 
Other undisclosed noncurrent liabilities1826 375125115
Total noncurrent liabilities:3,407875043751115115
Total liabilities:11,0428,3838,1284,2244,2215,4456,550
Stockholders' equity
Stockholders' equity attributable to parent, including:7,6637,71111,1008,9308,1747,3339,187
Treasury stock, value      (1,260)
Additional paid in capital18,96918,93618,72017,93717,78317,55018,747
Accumulated other comprehensive loss    (22)(22)(20)
Accumulated deficit(11,402)(11,320)(7,716)(9,095)(9,675)(10,281)(8,372)
Other undisclosed stockholders' equity attributable to parent95959589888692
Total stockholders' equity:7,6637,71111,1008,9308,1747,3339,187
Other undisclosed liabilities and equity      833
TOTAL LIABILITIES AND EQUITY:18,70516,09419,22813,15412,39512,77816,570

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

12/31/2019
TTM
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Revenues35,61937,40934,50024,76527,48030,21433,360
Revenue, net24,76527,48030,01433,360
Cost of revenue(28,621)(30,828)(27,931)(20,573)(22,400)(24,221)(26,805)
Cost of goods and services sold   (20,573)(22,400)(24,221)(26,805)
Other undisclosed gross profit     (200) 
Gross profit:6,9986,5816,5684,1925,0805,7936,555
Operating expenses(9,644)(9,678)(6,307)(3,593)(4,463)(7,306)(6,653)
Operating income (loss):(2,646)(3,097)261598617(1,513)(99)
Nonoperating income (expense)(513)(511)372(19)(10)120375
Investment income, nonoperating      (270)
Foreign currency transaction gain (loss), before tax (14)(10)  20(28)
Other nonoperating income (expense)(5)  (19)(10)1326
Interest and debt expense(207)(201)(115)    
Income (loss) from continuing operations before equity method investments, income taxes:(3,366)(3,809)517579607(1,392)277
Other undisclosed income (loss) from continuing operations before income taxes207201115  (241)(750)
Income (loss) from continuing operations before income taxes:(3,159)(3,608)632579607(1,633)(474)
Income tax benefit 4747  339374
Other undisclosed income from continuing operations4      
Income (loss) from continuing operations:(3,155)(3,604)1,379579607(1,294)(100)
Income (loss) from discontinued operations     199(326)
Net income (loss):(3,155)(3,604)1,379579607(1,095)(426)
Other undisclosed net loss attributable to parent     (339)(374)
Net income (loss) attributable to parent:(3,155)(3,604)1,379579607(1,434)(800)
Preferred stock dividends and other adjustments     (476)(193)
Net income (loss) available to common stockholders, diluted:(3,155)(3,604)1,379579607(1,910)(993)

Comprehensive Income ($ in thousands)

12/31/2019
TTM
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Net income (loss):(3,155)(3,604)1,379579607(1,095)(426)
Comprehensive income (loss):(3,155)(3,604)1,379579607(1,095)(426)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   22 (340)(374)
Comprehensive income (loss), net of tax, attributable to parent:(3,155)(3,604)1,379601607(1,435)(800)

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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