Company profile

Ticker
PFIN
Exchange
CEO
Richard A. Horowitz
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
221657413

PFIN stock data

(
)

Calendar

9 Aug 19
14 Oct 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 14.8M 14.32M 15.4M 17.66M
Net income 5.69M -26K -55K 541K
Diluted EPS 1.71 -0.01 -0.01 0.14
Net profit margin 38.44% -0.18% -0.36% 3.06%
Operating income 55K 12K -49K 861K
Net change in cash 774K -101K -730K 241K
Cash on hand 1.67M 898K 999K 1.73M
Cost of revenue 9.29M 9.04M 10.11M 11.06M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 65M 58.97M 57.28M 81.7M
Net income 856K -884K 6.9M 3.54M
Diluted EPS 0.23 -0.25 1.92 0.94
Net profit margin 1.32% -1.50% 12.05% 4.34%
Operating income 1.48M 50K -10.26M 2.53M
Net change in cash -242K -2.46M 2.77M -84K
Cash on hand 999K 1.24M 3.7M 927K
Cost of revenue 41.81M 37.89M 38.35M 38.63M

Financial data from company earnings reports

Financial report summary

?
Management Discussion
  • We determined that, based on a number of factors including Sears’ continuing financial difficulties, the sale of the Craftsman brand by Sears to Stanley Black & Decker, and our level of working capital exposure in relation to our return on that investment pertaining to Sears, it was in our best interest not to renew a supply agreement between us and Sears, effective September 30, 2017. As a result, the comparative results discussed below reflect sales attributable to shipments to Sears during 2017, whereas there were no shipments to Sears in 2018.
  • During the third quarter of 2018, Florida Pneumatic commenced the shipment to The Home Depot (“THD”) of an improved line of pneumatic tools, which replaced much of THD’s previous product offering. Gross margin for the new product line is projected to be approximately 2% less than recent historic levels. Further, in an effort to assist THD in promoting the roll out of the new products, Florida Pneumatic agreed to contribute approximately $1,088,000 to THD. This contribution is being ratably amortized over a four-year period commencing August 2018, and will be tested for impairment during said period.
  • We adopted ASC 606 effective January 1, 2018. The most significant impact of this adoption to our results of operations was that beginning January 1, 2018 we now classify certain expenses as deductions against gross revenue, that prior to the adoption, were accounted for as a selling expense. The adoption of ASC 606 reduced our 2018 revenue, gross profit and selling expenses approximately $1,007,000.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: approving, Boeing, broker, contributor, largest, lien, literature, marketplace, owed, owing, pursue, relocation, shut, slowdown, Tranche
Removed: borrowed, combination, costly, efficiently, enacted, enter, equal, extended, facilitate, federal, fixed, increasing, manner, maximum, mentioned, modified, payable, potential, prime, repaid, Representative, requirement, tariff, Trade, transition