v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
Jan. 31, 2019
Oct. 31, 2018
CURRENT ASSETS:    
Cash $ 4,797,806 $ 4,611,384
Accounts receivable, net of allowances of $144,000 for 2019 and 2018 9,207,731 9,914,297
Inventories 15,398,745 15,271,106
Prepaid expenses and other current assets 550,083 578,861
Prepaid and refundable income taxes 172,715 383,206
TOTAL CURRENT ASSETS 30,127,080 30,758,854
Machinery and equipment, at cost, net of accumulated depreciation of $6,410,550 and $6,251,828 for 2019 and 2018, respectively 2,321,597 2,350,208
Customer list and relationships, net of accumulated amortization of $121,546 and $108,875 for 2019 and 2018, respectively 566,854 576,125
Trademarks and tradenames 1,488,000 1,488,000
Other intangible assets 331,124 331,124
Non-compete, net of accumulated amortization of $14,850 and $9,900 for 2019 and 2018, respectively 84,150 89,100
Goodwill 2,157,661 2,157,661
Equity method investments 89,881 89,776
Deferred income tax asset 521,173 440,325
Deposits and other assets 636,297 552,904
TOTAL ASSETS 38,323,817 38,834,077
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 3,805,443 4,833,548
Line of credit 5,767,440 6,260,014
Due to broker 565,195 22,046
Note payable 70,255 70,255
Income taxes payable 19,914 1,505
TOTAL CURRENT LIABILITIES 10,228,247 11,187,368
Deferred income tax liabilities 847,932 882,022
Deferred rent payable 230,092 242,143
Deferred compensation payable 527,959 532,726
TOTAL LIABILITIES 11,834,230 12,844,259
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; 5,569,349 shares outstanding as of January 31 2019 and October 31, 2018 6,494 6,494
Additional paid-in capital 16,104,075 16,104,075
Retained earnings 13,719,482 13,404,767
Less: Treasury stock, 925,331 common shares, at cost as of January 31, 2019 and October 31, 2018 (4,633,560) (4,633,560)
Total Coffee Holding Co., Inc. Stockholders' Equity 25,196,491 24,881,776
Noncontrolling interest 1,293,096 1,108,042
TOTAL EQUITY 26,489,587 25,989,818
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 38,323,817 $ 38,834,077
v3.19.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Jan. 31, 2019
Jan. 31, 2018
Income Statement [Abstract]    
NET SALES $ 23,633,811 $ 22,083,219
COST OF SALES (which include purchases of approximately $1.8 million and $1.4 million for the three months ended January 31, 2019 and 2018, respectively, from a related party) 19,064,767 18,287,657
GROSS PROFIT 4,569,044 3,795,562
OPERATING EXPENSES:    
Selling and administrative 3,675,661 2,736,686
Officers' salaries 203,346 170,250
TOTAL 3,879,007 2,906,936
INCOME FROM OPERATIONS 690,037 888,626
OTHER INCOME (EXPENSE):    
Interest income 1,787 3,047
Gain (loss) from equity method investments 105 (4,815)
Interest expense (66,240) (92,508)
TOTAL (64,348) (94,276)
INCOME BEFORE PROVISION FOR INCOME TAXES AND NON-CONTROLLING INTEREST IN SUBSIDIARY 625,689 794,350
Provision for income taxes 125,920 213,764
NET INCOME BEFORE NON-CONTROLLING INTEREST IN SUBSIDIARY 499,769 580,586
Less: net income attributable to the non-controlling interest in subsidiary (185,054) (149,199)
NET INCOME ATTRIBUTABLE TO COFFEE HOLDING CO., INC. $ 314,715 $ 431,387
Basic and diluted earnings per share $ 0.06 $ 0.07
Weighted average common shares outstanding:    
Basic and diluted 5,569,349 5,765,335
v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jan. 31, 2019
Jan. 31, 2018
OPERATING ACTIVITIES:    
Net income $ 499,769 $ 580,586
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 176,343 174,274
Unrealized loss (gain) on commodities 543,149 (115,868)
Loss (gain) on equity method investments (105) 4,815
Deferred rent (12,051) 441
Deferred income taxes (114,938) 72,750
Changes in operating assets and liabilities:    
Accounts receivable 706,566 (1,196,781)
Inventories (127,639) 1,233,255
Prepaid expenses and other current assets 28,778 91,284
Prepaid green coffee 65,665
Prepaid and refundable income taxes 210,491 130,510
Accounts payable and accrued expenses (1,028,105) (635,798)
Deposits and other assets (88,160)
Income taxes payable 18,409 1,290
Net cash provided by operating activities 812,507 406,423
INVESTING ACTIVITIES:    
Purchases of machinery and equipment (133,511) (145,452)
Net cash used in investing activities (133,511) (145,452)
FINANCING ACTIVITIES:    
Advances under bank line of credit 7,426 1,000,100
Purchase of treasury stock (264,928)
Principal payments under bank line of credit (500,000)
Net cash (used in) provided by financing activities (492,574) 735,172
NET INCREASE IN CASH 186,422 996,143
CASH, BEGINNING OF PERIOD 4,611,384 2,325,650
CASH, END OF PERIOD 4,797,806 3,321,793
SUPPLEMENTAL DISCLOSURE OF CASH FLOW DATA:    
Interest paid 66,943 85,039
Income taxes paid $ 11,958 $ 9,214