OVERHILL FARMS INC

CIK:0001101020|SEC Filings

Statements of Comprehensive Income (USD $)	3 Months Ended		6 Months Ended
Statements of Comprehensive Income (USD $)	Mar. 31, 2013	Apr. 01, 2012	Mar. 31, 2013	Apr. 01, 2012
Statements of Comprehensive Income [Abstract]
Net revenues	$ 47,590,295	$ 50,201,781	$ 97,470,289	$ 97,711,491
Cost of sales	42,749,502	45,498,635	89,081,775	88,323,265
Gross profit	4,840,793	4,703,146	8,388,514	9,388,226
Selling, general and administrative expenses	3,977,367	3,081,145	6,949,098	5,895,896
Operating income	863,426	1,622,001	1,439,416	3,492,330
Interest Expense [Abstract]
Interest expense	(47,980)	(64,230)	(96,087)	(133,442)
Amortization of deferred financing costs	(13,933)	(13,554)	(27,867)	(40,712)
Total interest expense	(61,913)	(77,784)	(123,954)	(174,154)
Income before income taxes	801,513	1,544,217	1,315,462	3,318,176
Income taxes	285,740	569,816	468,962	1,223,783
Net income and comprehensive income	$ 515,773	$ 974,401	$ 846,500	$ 2,094,393
Net Income Per Share [Abstract]
Basic	$ 0.03	$ 0.06	$ 0.05	$ 0.13
Diluted	$ 0.03	$ 0.06	$ 0.05	$ 0.13
Weighted-average shares used in computing net income per share: [Abstract]
Basic Shares	16,046,544	15,823,271	16,046,544	15,823,271
Diluted Shares	16,123,164	16,023,073	16,123,957	16,016,226

Statements of Cash Flows (USD $)	6 Months Ended
Statements of Cash Flows (USD $)	Mar. 31, 2013	Apr. 01, 2012
Operating Activities:[Abstract]
Net income and comprehensive income	$ 846,500	$ 2,094,393
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,678,989	1,719,275
Amortization of deferred financing costs	27,867	43,296
Gain on sale of property and equipment	0	0
Provision for (recovery of) doubtful accounts	262	(42,465)
Changes in:[Abstract]
Accounts receivable	(800,614)	(3,943,248)
Inventories	2,036,418	(1,237,343)
Prepaid expenses and other assets	(13,212)	226,448
Accounts payable	(1,749,966)	(399,964)
Accrued liabilities	(68,450)	447,438
Net cash provided by (used in) operating activities	1,957,794	(1,092,170)
Investing Activities:[Abstract]
Additions to property and equipment	(895,690)	(246,902)
Proceeds from sale of property and equipment	0	0
Net cash used in investing activities	(895,690)	(246,902)
Financing Activities:[Abstract]
Principal payments on long-term debt	0	(2,530,000)
Net cash used in financing activities	0	(2,530,000)
Net increase (decrease) in cash	1,062,104	(3,869,072)
Cash at beginning of period	1,983,715	5,470,362
Cash at end of period	3,045,819	1,601,290
Cash paid during the period for:[Abstract]
Interest	48,621	133,254
Income taxes	$ 0	$ 625,000

Balance Sheets (USD $)	Mar. 31, 2013	Sep. 30, 2012
Assets Current [Abstract]
Cash	$ 3,045,819	$ 1,983,715
Accounts receivable, net of allowance for doubtful accounts of $3,000 and $2,000 at March 31, 2013 and September 30, 2012, respectively	16,592,908	15,792,557
Inventories	19,282,990	21,319,408
Prepaid expenses and other	1,989,237	1,976,025
Deferred tax assets	867,384	867,384
Total current assets	41,778,338	41,939,089
Property Plant And Equipment, at Cost [Abstract]
Fixtures and equipment	27,831,715	26,436,536
Leasehold improvements	12,673,109	13,210,424
Automotive equipment	90,461	90,461
Property and equipment	40,595,285	39,737,421
Less accumulated depreciation and amortization	(30,339,278)	(28,822,369)
Total property and equipment, net	10,256,007	10,915,052
Other non-current assets [Abstract]
Goodwill	12,188,435	12,188,435
Deferred financing costs, net of accumulated amortization of $588,000 and $560,000 at March 31, 2013 and September 30, 2012, respectively	27,867	55,734
Other	1,143,758	1,216,912
Total other non-current assets	13,360,060	13,461,081
Total assets	65,394,405	66,315,222
Liabilities Current [Abstract]
Accounts payable	8,454,541	10,204,507
Accrued liabilities	3,978,265	4,046,715
Current maturities of long-term debt	6,742,647	6,742,647
Total current liabilities	19,175,453	20,993,869
Long-term accrued liabilities	760,117	709,018
Deferred tax liabilities	560,576	560,576
Long-term debt	0	0
Total liabilities	20,496,146	22,263,463
Commitments and contingencies	0	0
Stockholders Equity [Abstract]
Preferred stock, $0.01 par value, authorized 50,000,000 shares, 4.43 designated as Series A Convertible Preferred Stock, 0 shares issued and outstanding	0	0
Common stock, $0.01 par value, authorized 100,000,000 shares, 16,046,544 shares issued and outstanding at March 31, 2013 and September 30, 2012	160,465	160,465
Additional paid-in capital	11,980,293	11,980,293
Retained earnings	32,757,501	31,911,001
Total stockholders equity	44,898,259	44,051,759
Total liabilities and stockholders equity	$ 65,394,405	$ 66,315,222