v3.4.0.3
CONSOLIDATED BALANCE SHEETS - USD ($)
Apr. 30, 2016
Oct. 31, 2015
CURRENT ASSETS:    
Cash $ 3,198,097 $ 3,853,816
Accounts receivable, net of allowances of $144,000 for 2016 and 2015 11,318,009 10,968,237
Inventories 12,333,449 13,862,818
Prepaid green coffee 344,439 620,452
Prepaid expenses and other current assets 273,395 256,202
Prepaid income taxes 931,727 1,434,577
Due from broker 205,253 0
Deferred income tax asset 53,595 997,720
TOTAL CURRENT ASSETS 28,657,964 31,993,822
Machinery and equipment, at cost, net of accumulated depreciation of $4,516,493 and $4,241,256 for 2016 and 2015, respectively 1,839,981 1,845,000
Customer list and relationships, net of accumulated amortization of $45,000 and $41,250 for 2016 and 2015, respectively 105,000 108,750
Trademarks 180,000 180,000
Goodwill 440,000 440,000
Equity method investments 96,327 96,571
Deposits and other assets 601,993 610,499
TOTAL ASSETS 31,921,265 35,274,642
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 3,271,416 4,021,389
Line of credit 2,654,121 5,554,121
Due to broker 0 483,835
Income taxes payable 500 0
TOTAL CURRENT LIABILITIES 5,926,037 10,059,345
Deferred income tax liabilities 20,995 92,370
Deferred rent payable 226,636 222,055
Deferred compensation payable 489,826 482,499
TOTAL LIABILITIES 6,663,494 10,856,269
STOCKHOLDERS EQUITY:    
Preferred stock, par value $.001 per share; 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, par value $.001 per share; 30,000,000 shares authorized, 6,456,316 shares issued; 6,068,119 and 6,162,207 shares outstanding at April 30, 2016 and October 31, 2015, respectively 6,456 6,456
Additional paid-in capital 15,904,109 15,904,109
Retained earnings 10,936,310 9,665,940
Less: Treasury stock, 388,197 and 294,109 common shares, at cost for six months ended April 30, 2016 and 2015, respectively (1,881,031) (1,494,712)
Total Coffee Holding Co., Inc. Stockholders Equity 24,965,844 24,081,793
Noncontrolling interest 291,927 336,580
TOTAL EQUITY 25,257,771 24,418,373
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY $ 31,921,265 $ 35,274,642
v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Apr. 30, 2016
Apr. 30, 2015
OPERATING ACTIVITIES:    
Net income (loss) $ 1,325,717 $ (1,960,357)
Adjustments to reconcile net income to net cash provided (used in) by operating activities:    
Depreciation and amortization 278,987 274,022
Unrealized gain on commodities (689,088) (489,696)
Loss (Gain) on equity method investments 244 (448)
Deferred rent 4,581 6,206
Deferred income taxes 872,750 (1,143,650)
Changes in operating assets and liabilities:    
Accounts receivable (349,772) 2,263,522
Inventories 1,529,369 2,536,227
Prepaid expenses and other current assets (17,193) 82,747
Prepaid green coffee 276,013 346,043
Prepaid and refundable income taxes 502,850 (1,387,393)
Deposits and other assets 15,833 0
Accounts payable and accrued expenses (749,970) (3,215,641)
Income taxes payable 500 (331,051)
Net cash provided by (used in) operating activities 3,000,821 (3,019,469)
INVESTING ACTIVITIES:    
Purchases of machinery and equipment (270,221) (341,337)
Net cash used in investing activities (270,221) (341,337)
FINANCING ACTIVITIES:    
Advances under bank line of credit 600,000 9,272,578
Principal payments under bank line of credit (3,500,000) (6,000,000)
Purchase of treasury stock (386,319) 0
Payment of dividend (100,000) (80,000)
Net cash (used in) provided by financing activities (3,386,319) 3,192,578
NET DECREASE IN CASH (655,719) (168,228)
CASH, BEGINNING OF PERIOD 3,853,816 3,782,639
CASH, END OF PERIOD 3,198,097 3,614,411
SUPPLEMENTAL DISCLOSURE OF CASH FLOW DATA:    
Interest paid 81,276 112,585
Income taxes paid $ 25,008 $ 1,641,197
v3.4.0.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Apr. 30, 2016
Apr. 30, 2015
Apr. 30, 2016
Apr. 30, 2015
Consolidated Statements Of Income        
NET SALES $ 21,406,939 $ 30,263,054 $ 44,212,334 $ 68,669,033
COST OF SALES (including $5.6 and $14.9 million of related party costs for the six months ended April 30, 2016 and 2015, respectively. Including $2.0 and $5.1 million for the three months ended April 30, 2016 and 2015, respectively.) 18,097,486 31,340,321 38,251,840 67,824,859
GROSS PROFIT 3,309,453 (1,077,267) 5,960,494 844,174
OPERATING EXPENSES:        
Selling and administrative 1,789,489 1,897,480 3,466,440 3,563,835
Officers' salaries 163,850 172,850 327,700 325,585
TOTAL 1,953,339 2,070,330 3,794,140 3,889,420
INCOME (LOSS) FROM OPERATIONS 1,356,114 (3,147,597) 2,166,354 (3,045,246)
OTHER INCOME (EXPENSE):        
Interest income 10,988 4,930 21,000 13,228
(Loss) gain from equity method investments 212 (267) (244) 448
Interest expense (33,670) (64,633) (73,473) (118,612)
TOTAL (22,470) (59,970) (52,717) (104,936)
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES AND NON-CONTROLLING INTEREST IN SUBSIDIARY 1,333,644 (3,207,567) 2,113,637 (3,150,182)
Provision (Benefit) for income taxes 485,356 (1,158,721) 787,920 (1,189,825)
NET INCOME (LOSS) BEFORE NON-CONTROLLING INTEREST IN SUBSIDIARY 848,288 (2,048,846) 1,325,717 (1,960,357)
Less: Net (income) attributable to the non-controlling interest in subsidiary (17,487) (3,714) (55,347) (20,402)
NET INCOME (LOSS) ATTRIBUTABLE TO COFFEE HOLDING CO., INC. $ 830,801 $ (2,052,560) $ 1,270,370 $ (1,980,759)
Basic and diluted earnings (loss) per share $ 0.14 $ (.33) $ 0.21 $ (.32)
Weighted average common shares outstanding:        
Basic and diluted 6,133,557 6,215,894 6,148,039 6,215,894