Riordan Manufacturing, Inc.
Income Statement
For the 12 months ending September 30th
2011
2010
Sales
$66,608,660
$56,534,254
Direct Cost of Goods Sold
51,592,470
43,970,250
Gross Margin
$15,016,190
$12,564,004
Operating Expenses
Sales, Marketing & Other
$1,328,615
$1,265,348
Depreciation
1,378,616
1,152,125
Quality Assurance
1,151,176
1,112,247
Research & Development
1,039,637
962,627
General & Administrative
4,954,751
4,674,293
Machining & Systems
143,808
125,050
Total Operating Expenses
$9,996,603
$9,291,690
Profit Before Interest & Taxes
$5,019,587
$3,272,314
Non-Operating Expenses
Interest Expense
$604,616
$121,533
Taxes
1,104,309
719,909
Total Non-Operating Expenses
$1,708,925
$841,442
Net Profit After Taxes
$3,310,662
$2,430,872
| Riordan Manufacturing, Inc. Consolidated Balance Sheet |
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| Fiscal Year Ending September 30th |
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| 2011 | 2010 | |
| Assets | ||
| Current Assets | ||
| Cash | $3,725,406 | $2,807,029 |
| Accounts Receivable | 3,192,094 | 2,695,342 |
| Current Portion of Notes Receivable | 84,255 | 102,976 |
| Inventories | 9,709,611 | 8,517,203 |
| Prepaid Expenses and Other Items | 666,591 | 402,240 |
| Total Current Assets | $17,377,957 | $14,524,790 |
| Notes Receivable, less current portion | $842,551 | $936,168 |
| Investment in Joint Venture | 1,734,004 | 1,609,004 |
| Property, Plant and Equipment – net | 26,366,949 | 16,658,218 |
| Intangible Assets – net | 904,473 | 904,473 |
| Other Assets | 183,203 | 192,845 |
| Total Assets | $47,409,137 | $34,825,498 |
| Liabilities and Stockholders’ Equity | ||
| Current Liabilities | ||
| Current Portion of Long-Term Debt | $1,560,959 | $474,032 |
| Accounts Payable | 1,141,561 | 1,391,385 |
| Accrued Liabilities | 430,477 | 524,685 |
| Income Taxes Payable | 552,155 | 359,955 |
| Total Current Liabilities | $3,685,152 | $2,750,057 |
| Bank Line of Credit | $114,759 | $295,865 |
| Long-Term Debt – less current portion | 9,500,741 | 1,006,955 |
| Deferred Income Taxes – net | 660,503 | 825,629 |
| Total Liabilities | $13,961,155 | $4,878,506 |
| Common Stock Stated par value is $.01. 20,000,000 shares authorized. Issued and Outstanding 15,801,332 net of treasury shares. |
$29,055,488 | $29,055,488 |
| Retained Earnings / (Accumulated Deficit) | 4,392,494 | 891,504 |
| Total Stockholders’ Equity | $33,447,982 | $29,946,992 |
| Total Liabilities and Stockholders’ Equity | $47,409,137 | $34,825,498 |