v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jan. 31, 2018
Oct. 31, 2017
CURRENT ASSETS:    
Cash $ 3,321,793 $ 2,325,650
Accounts receivable, net of allowances of $144,000 for 2018 and 2017 14,638,583 13,441,802
Inventories 15,077,317 16,310,572
Prepaid green coffee 105,685 171,350
Prepaid expenses and other current assets 502,541 593,825
Prepaid and refundable income taxes 342,304 472,814
TOTAL CURRENT ASSETS 33,988,223 33,316,013
Machinery and equipment, at cost, net of accumulated depreciation of $5,724,548 and $5,557,899 for 2018 and 2017, respectively 2,418,141 2,439,338
Customer list and relationships, net of accumulated amortization of $79,875 and $72,250 for 2018 and 2017, respectively 360,125 367,750
Trademarks 820,000 820,000
Other intangible assets 331,124 331,124
Goodwill 1,548,969 1,794,265
Equity method investments 89,828 94,643
Deferred income tax asset 179,958 339,748
Deposits and other assets 537,261 497,529
TOTAL ASSETS 40,273,629 40,000,410
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 3,794,828 4,430,626
Line of credit 9,407,627 8,407,527
Due to broker 94,994 210,862
Income taxes payable 2,636 1,346
TOTAL CURRENT LIABILITIES 13,300,085 13,050,361
Deferred income tax liabilities 297,344 629,680
Deferred rent payable 240,820 240,379
Deferred compensation payable 528,261 488,529
TOTAL LIABILITIES 14,366,510 14,408,949
Coffee Holding Co., Inc. stockholders' equity:    
Preferred stock, par value $.001 per share; 10,000,000 shares authorized; no shares issued and outstanding
Common stock, par value $.001 per share; 30,000,000 shares authorized, 6,494,680 shares issued; 5,742,894 and 5,805,935 shares outstanding as of January 31 2018 and October 31, 2017 5,743 6,494
Additional paid-in capital 16,104,075 16,104,075
Retained earnings 12,776,877 12,345,490
Less: Treasury stock, 751,786 and 688,745 common shares, at cost as of January 31, 2018 and October 31, 2017 (3,768,687) (3,504,510)
Total Coffee Holding Co., Inc. Stockholders' Equity 25,118,008 24,951,549
Noncontrolling interest 789,111 639,912
TOTAL EQUITY 25,907,119 25,591,461
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 40,273,629 $ 40,000,410
v3.8.0.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Jan. 31, 2018
Jan. 31, 2017
Income Statement [Abstract]    
NET SALES $ 22,083,219 $ 19,632,367
COST OF SALES (which include purchases of approximately $1.4 million and $.8 million for the three months ended January 31, 2018 and 2017, respectively, from a related party) 18,287,657 16,500,776
GROSS PROFIT 3,795,562 3,131,591
OPERATING EXPENSES:    
Selling and administrative 2,736,686 2,350,591
Officers’ salaries 170,250 168,590
TOTAL 2,906,936 2,519,181
INCOME FROM OPERATIONS 888,626 612,410
OTHER INCOME (EXPENSE):    
Interest income 3,047 12,431
(Loss) gain from equity method investments (4,815) 1,319
Interest expense (92,508) (57,742)
TOTAL (94,276) (43,992)
INCOME BEFORE PROVISION FOR INCOME TAXES AND NON-CONTROLLING INTEREST IN SUBSIDIARY 794,350 568,418
Provision for income taxes 213,764 171,113
NET INCOME BEFORE NON-CONTROLLING INTEREST IN SUBSIDIARY 580,586 397,305
Less: net income attributable to the non-controlling interest in subsidiary (149,199) (21,523)
NET INCOME ATTRIBUTABLE TO COFFEE HOLDING CO., INC. $ 431,387 $ 375,782
Basic and diluted earnings per share $ 0.07 $ 0.06
Weighted average common shares outstanding: Basic and diluted 5,765,335 5,862,302
v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jan. 31, 2018
Jan. 31, 2017
OPERATING ACTIVITIES:    
Net income $ 580,586 $ 397,305
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 174,274 180,090
Unrealized gain on commodities (115,868) (38,949)
Loss (gain) on equity method investments 4,815 (1,319)
Deferred rent 441 2,292
Deferred income taxes 72,750 (35,925)
Changes in operating assets and liabilities:    
Accounts receivable (1,196,781) 2,315,292
Inventories 1,233,255 (207,234)
Prepaid expenses and other current assets 91,284 79,340
Prepaid green coffee 65,665 (71,406)
Prepaid and refundable income taxes 130,510 197,378
Accounts payable and accrued expenses (635,798) (760,039)
Deposits and other assets 5,099
Income taxes payable 1,290 1,222
Net cash provided by operating activities 406,423 2,063,146
INVESTING ACTIVITIES:    
Purchases of machinery and equipment (145,452) (255,126)
Net cash used in investing activities (145,452) (255,126)
FINANCING ACTIVITIES:    
Advances under bank line of credit 1,000,100 1,000,100
Purchase of treasury stock (264,928)
Principal payments under bank line of credit (3,200,000)
Net cash provided by (used in) financing activities 735,172 (2,199,900)
NET INCREASE (DECREASE) IN CASH 996,143 (391,880)
CASH, BEGINNING OF PERIOD 2,325,650 3,227,981
CASH, END OF PERIOD 3,321,793 2,836,101
SUPPLEMENTAL DISCLOSURE OF CASH FLOW DATA:    
Interest paid 85,039 61,823
Income taxes paid $ 9,214 $ 3,846