XML 35 R2.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jul. 31, 2011
Oct. 31, 2010
CURRENT ASSETS    
Cash and cash equivalents ($170,274 for settlement of VIE obligations) $ 1,169,352 $ 4,728,884
Certificates of deposit 4,574,936 4,577,570
Trade accounts receivable, net of allowance for doubtful accounts of $139,845 and $75,734 ($998,441 for settlement of VIE obligations) 2,868,390 2,557,822
Inventories ($568,905 for settlement of VIE obligations) 6,295,128 4,607,843
Other current assets ($16,295 for settlement of VIE obligations) 865,645 448,187
Deferred tax assets 613,100 613,100
TOTAL CURRENT ASSETS 16,454,669 17,533,406
Property and Equipment:    
Land and building ($1,538,100 of collateral for VIE obligations) 1,538,100  
Equipment and tooling ($295,000 for settlement of VIE obligations) 2,968,134 2,434,176
Furniture and office equipment ($18,000 for settlement of VIE obligations) 556,664 508,221
Property, Plant and Equipment, Gross, Total 5,062,898 2,942,397
Less accumulated depreciation 2,633,860 2,412,070
TOTALS 2,429,038 530,327
Long-term investments in certificates of deposit 1,695,871 946,491
Goodwill 2,642,000  
Amortizable intangible assets, net 2,449,832  
Non-amortizable intangible assets 430,000  
Note receivable from stockholder 66,980 66,980
Other assets ($71,427 for settlement of VIE obligations) 103,586 32,159
TOTAL ASSETS 26,271,976 19,109,363
CURRENT LIABILITIES    
Accounts payable 384,518 537,850
Accrued expenses 1,597,722 1,217,454
Current portion of long-term liabilities ($38,090 recourse limited to VIE creditors) 38,090  
Dividends payable 2,141,067  
Income taxes payable   123,909
TOTAL CURRENT LIABILITIES 4,161,397 1,879,213
Deferred tax liabilities 1,199,662 18,800
Other long-term liabilities ($1,365,466 recourse limited to VIE creditors) 1,506,326 297,390
TOTAL LIABILITIES 6,867,385 2,195,403
COMMITMENTS AND CONTINGENCIES    
RF Industries, Ltd. and Subsidiary:    
Common stock - authorized 200,000,000 shares of $0.01 par value; 7,049,110 and 5,861,764 shares issued and outstanding 70,491 58,618
Additional paid-in capital 10,981,759 6,996,656
Retained earnings 8,134,752 9,858,686
Total RF Industries, Ltd. and Subsidiary 19,187,002 16,913,960
Noncontrolling interest 217,589  
TOTAL EQUITY 19,404,591 19,109,363
TOTAL LIABILITIES AND EQUITY 26,271,976 19,109,363
Variable Interest Entity, Primary Beneficiary
   
CURRENT ASSETS    
Cash and cash equivalents ($170,274 for settlement of VIE obligations) 170,274 170,274
Trade accounts receivable, net of allowance for doubtful accounts of $139,845 and $75,734 ($998,441 for settlement of VIE obligations) 998,441 998,441
Inventories ($568,905 for settlement of VIE obligations) 568,905 568,905
Other current assets ($16,295 for settlement of VIE obligations) 16,295 16,295
Restricted cash (all related to VIE) 68,118  
Property and Equipment:    
Land and building ($1,538,100 of collateral for VIE obligations) 1,538,100  
Equipment and tooling ($295,000 for settlement of VIE obligations) 295,000 295,000
Furniture and office equipment ($18,000 for settlement of VIE obligations) 18,000 18,000
Other assets ($71,427 for settlement of VIE obligations) 71,427  
CURRENT LIABILITIES    
Current portion of long-term liabilities ($38,090 recourse limited to VIE creditors) 38,090  
Other long-term liabilities ($1,365,466 recourse limited to VIE creditors) $ 1,365,466