10-Q Filing

M-TRON INDUSTRIES, INC. CIK: 1902314 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-037653`
Period End Date	20220930
Filing Date	20221114
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	mpti-10q_20220930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 48 Cash Flow Statement 41 Stockholders Equity 12

Balance Sheet 85 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$118.00K	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$119.00K	USD	Point-in-time
Accounts receivable, allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$128.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$806.00K	USD	Point-in-time
Accounts receivable, net of allowances of $128, $119 and $118, respectively	`AccountsReceivableNetCurrent`	$4.46M	USD	Point-in-time
Accounts receivable, net of allowances of $128, $119 and $118, respectively	`AccountsReceivableNetCurrent`	$5.34M	USD	Point-in-time
Accounts receivable, net of allowances of $128, $119 and $118, respectively	`AccountsReceivableNetCurrent`	$4.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.22M	USD	Point-in-time
Inventories, net	`InventoryNet`	$5.01M	USD	Point-in-time
Inventories, net	`InventoryNet`	$7.30M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$142.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$242.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$255.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$11.56M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$13.58M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$12.09M	USD	Point-in-time
Land	`Land`	$536.00K	USD	Point-in-time
Land	`Land`	$536.00K	USD	Point-in-time
Land	`Land`	$536.00K	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$4.87M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$4.87M	USD	Point-in-time
Buildings and improvements	`BuildingsAndImprovementsGross`	$4.88M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$18.83M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$18.18M	USD	Point-in-time
Machinery and equipment	`MachineryAndEquipmentGross`	$17.84M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$23.24M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$23.58M	USD	Point-in-time
Gross property, plant and equipment	`PropertyPlantAndEquipmentGross`	$24.24M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$20.68M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$20.06M	USD	Point-in-time
Less: accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$20.20M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$3.18M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$3.38M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$3.56M	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$160.00K	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$148.00K	USD	Point-in-time
Right-of-use lease asset	`OperatingLeaseRightOfUseAsset`	$218.00K	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesNoncurrent`	$1.97M	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesNoncurrent`	$1.48M	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesNoncurrent`	$4.46M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$152.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$165.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$112.00K	USD	Point-in-time
Deferred income tax asset	`DeferredIncomeTaxAssetsNet`	$2.19M	USD	Point-in-time
Deferred income tax asset	`DeferredIncomeTaxAssetsNet`	$2.31M	USD	Point-in-time
Deferred income tax asset	`DeferredIncomeTaxAssetsNet`	$1.89M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.00K	USD	Point-in-time
Total Assets	`Assets`	$23.78M	USD	Point-in-time
Total Assets	`Assets`	$20.01M	USD	Point-in-time
Total Assets	`Assets`	$18.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$824.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.98M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$1.27M	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$875.00K	USD	Point-in-time
Accrued compensation and commissions expense	`EmployeeRelatedLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$443.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$403.00K	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$405.00K	USD	Point-in-time
Income Tax Payable	`AccruedIncomeTaxesCurrent`	$79.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.01M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.14M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.73M	USD	Point-in-time
Long-term lease liability	`LongTermDebtAndCapitalLeaseObligations`	$145.00K	USD	Point-in-time
Long-term lease liability	`LongTermDebtAndCapitalLeaseObligations`	$99.00K	USD	Point-in-time
Long-term lease liability	`LongTermDebtAndCapitalLeaseObligations`	$91.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.24M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.82M	USD	Point-in-time
Contingencies (Note G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies (Note G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Contingencies (Note G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Net investment by LGL Group, Inc.	`NetInvestmentByRelatedParty`	$16.85M	USD	Point-in-time
Net investment by LGL Group, Inc.	`NetInvestmentByRelatedParty`	$18.96M	USD	Point-in-time
Net investment by LGL Group, Inc.	`NetInvestmentByRelatedParty`	$16.61M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$16.85M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$18.96M	USD	Point-in-time
Total Equity	`StockholdersEquity`	$16.61M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$18.86M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$20.01M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$23.78M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$23.17M	USD	3 Qtrs
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$8.42M	USD	1 Quarter
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$7.17M	USD	1 Quarter
REVENUES	`RevenueFromContractWithCustomerExcludingAssessedTax`	$19.83M	USD	3 Qtrs
Manufacturing cost of sales	`ManufacturingCosts`	$4.64M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$5.69M	USD	1 Quarter
Manufacturing cost of sales	`ManufacturingCosts`	$12.84M	USD	3 Qtrs
Manufacturing cost of sales	`ManufacturingCosts`	$14.92M	USD	3 Qtrs
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$1.72M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$6.21M	USD	3 Qtrs
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$2.10M	USD	1 Quarter
Engineering, selling and administrative	`EngineeringSellingAndAdministrative`	$5.08M	USD	3 Qtrs
OPERATING INCOME	`OperatingIncomeLoss`	$821.00K	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$2.05M	USD	3 Qtrs
OPERATING INCOME	`OperatingIncomeLoss`	$1.92M	USD	3 Qtrs
OPERATING INCOME	`OperatingIncomeLoss`	$630.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-9.00K	USD	3 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-3.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-6.00K	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$21.00K	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-15.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-41.00K	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-18.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-21.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-47.00K	USD	3 Qtrs
Total other (expense) income, net	`NonoperatingIncomeExpense`	$-16.00K	USD	1 Quarter
Total other (expense) income, net	`NonoperatingIncomeExpense`	$12.00K	USD	3 Qtrs
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$800.00K	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.00M	USD	3 Qtrs
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$614.00K	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.93M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$372.00K	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$162.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$392.00K	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$111.00K	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$1.56M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$1.61M	USD	3 Qtrs
NET INCOME	`NetIncomeLoss`	$503.00K	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$638.00K	USD	1 Quarter
Net Income per Basic Share	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Net Income per Basic Share	`EarningsPerShareBasic`	$0.60	USD	3 Qtrs
Net Income per Basic Share	`EarningsPerShareBasic`	$0.58	USD	3 Qtrs
Net Income per Basic Share	`EarningsPerShareBasic`	$0.24	USD	1 Quarter
Net income per Dilutive Share	`EarningsPerShareDiluted`	$0.58	USD	3 Qtrs
Net income per Dilutive Share	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Net income per Dilutive Share	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Net income per Dilutive Share	`EarningsPerShareDiluted`	$0.60	USD	3 Qtrs

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.56M	USD	3 Qtrs
Net income	`ProfitLoss`	$1.61M	USD	3 Qtrs
Depreciation	`Depreciation`	$486.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$349.00K	USD	3 Qtrs
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$41.00K	USD	3 Qtrs
Amortization of finite-lived intangible assets	`AmortizationOfIntangibleAssets`	$40.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$106.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$362.00K	USD	3 Qtrs
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$386.00K	USD	3 Qtrs
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$302.00K	USD	3 Qtrs
Increase in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$508.00K	USD	3 Qtrs
Increase in accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.34M	USD	3 Qtrs
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$2.08M	USD	3 Qtrs
(Increase) decrease in inventories, net	`IncreaseDecreaseInInventories`	$-98.00K	USD	3 Qtrs
Decrease (increase) in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$14.00K	USD	3 Qtrs
Decrease (increase) in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-107.00K	USD	3 Qtrs
Increase (decrease) in accounts payable, accrued compensation and commissions expense and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.72M	USD	3 Qtrs
Increase (decrease) in accounts payable, accrued compensation and commissions expense and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-648.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.21M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.37M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$663.00K	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$759.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-663.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-759.00K	USD	3 Qtrs
Net transfers to LGL Group, Inc.	`NetTransfersFromToFormerParent`	$-22.00K	USD	3 Qtrs
Net transfers to LGL Group, Inc.	`NetTransfersFromToFormerParent`	$145.00K	USD	3 Qtrs
Prepaid financing costs	`PaymentsOfFinancingCosts`	$20.00K	USD	3 Qtrs
Payments to related party	`RepaymentsOfRelatedPartyDebt`	$1.20M	USD	3 Qtrs
Payments to related party	`RepaymentsOfRelatedPartyDebt`	$2.50M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.37M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.22M	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.83M	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-613.00K	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.84M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.46M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.63M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$806.00K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.84M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.46M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.63M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$806.00K	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$18.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$16.85M	USD	Point-in-time
Balance	`StockholdersEquity`	$16.61M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.56M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$1.61M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$503.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$638.00K	USD	1 Quarter
Net transfers to LGL Group, Inc.	`NetTransfersFromToFormerParent`	$-22.00K	USD	3 Qtrs
Net transfers to LGL Group, Inc.	`NetTransfersFromToFormerParent`	$145.00K	USD	3 Qtrs
Balance	`StockholdersEquity`	$18.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$16.85M	USD	Point-in-time
Balance	`StockholdersEquity`	$16.61M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.