10-Q Filing

SWISHER HYGIENE INC. CIK: 1504747 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-077644`
Period End Date	20110630
Filing Date	20110815
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	swsh-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 64 Cash Flow Statement 47 Stockholders Equity 16

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$112.43M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$622.91K	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$544.50K	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$334.16K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$5.19M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $544,505 at June 30, 2011 and $334,156 at December 31, 2010)	`AccountsReceivableNetCurrent`	$7.07M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $544,505 at June 30, 2011 and $334,156 at December 31, 2010)	`AccountsReceivableNetCurrent`	$23.99M	USD	Point-in-time
Inventory	`InventoryNet`	$2.97M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$10.85M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$894.72K	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$2.33M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$55.06M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	172.56M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$149.60M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	114.02M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$11.32M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	114.02M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.52M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	172.56M	shares	Point-in-time
Goodwill	`Goodwill`	$139.64M	USD	Point-in-time
Goodwill	`Goodwill`	$29.66M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$7.67M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$74.38M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$4.71M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.52M	USD	Point-in-time
Total assets	`Assets`	$426.84M	USD	Point-in-time
Total assets	`Assets`	$106.23M	USD	Point-in-time
Accounts payable, accrued expenses, and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$9.34M	USD	Point-in-time
Accounts payable, accrued expenses, and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$26.80M	USD	Point-in-time
Short term obligations	`ShortTermBorrowings`	$9.35M	USD	Point-in-time
Short term obligations	`ShortTermBorrowings`	$13.38M	USD	Point-in-time
Advances from shareholder	`DueToRelatedPartiesCurrent`	$2.00M	USD	Point-in-time
Advances from shareholder	`DueToRelatedPartiesCurrent`	$2.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$38.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.71M	USD	Point-in-time
Long term obligations	`LongTermDebtNoncurrent`	$31.17M	USD	Point-in-time
Long term obligations	`LongTermDebtNoncurrent`	$31.03M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$1.70M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$6.27M	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$2.76M	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$4.02M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$41.47M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$35.49M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.001, authorized 400,000,000 shares; 172,559,865 and 114,015,063 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively	`CommonStockValue`	$172.56K	USD	Point-in-time
Common stock, par value $0.001, authorized 400,000,000 shares; 172,559,865 and 114,015,063 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively	`CommonStockValue`	$114.02K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$366.36M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$54.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-19.34M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$73.98K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$28.60K	USD	Point-in-time
Total Swisher Hygiene Inc. stockholders' equity	`StockholdersEquity`	$347.22M	USD	Point-in-time
Total Swisher Hygiene Inc. stockholders' equity	`StockholdersEquity`	$45.92M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	-	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$110.44K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$347.22M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.03M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$106.23M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$426.84M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$27.98M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$8.55M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$43.40M	USD	2 Qtrs
Product	`SalesRevenueGoodsNet`	$16.71M	USD	2 Qtrs
Service	`SalesRevenueServicesNet`	$4.48M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$8.86M	USD	2 Qtrs
Service	`SalesRevenueServicesNet`	$22.66M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$33.12M	USD	2 Qtrs
Franchise	`RevenueFromFranchisedOutlets`	$2.14M	USD	1 Quarter
Franchise	`RevenueFromFranchisedOutlets`	$1.04M	USD	1 Quarter
Franchise	`RevenueFromFranchisedOutlets`	$2.55M	USD	2 Qtrs
Franchise	`RevenueFromFranchisedOutlets`	$4.32M	USD	2 Qtrs
Total revenue	`Revenues`	$79.07M	USD	2 Qtrs
Total revenue	`Revenues`	$51.68M	USD	1 Quarter
Total revenue	`Revenues`	$15.16M	USD	1 Quarter
Total revenue	`Revenues`	$29.89M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$10.76M	USD	2 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$17.71M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$5.45M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$27.30M	USD	2 Qtrs
Route expenses	`RouteExpenses`	$3.17M	USD	1 Quarter
Route expenses	`RouteExpenses`	$13.16M	USD	1 Quarter
Route expenses	`RouteExpenses`	$6.35M	USD	2 Qtrs
Route expenses	`RouteExpenses`	$20.27M	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$31.22M	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$13.37M	USD	2 Qtrs
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$6.87M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$18.89M	USD	1 Quarter
Acquisition and merger expenses	`AcquisitionAndMergerExpenses`	$2.78M	USD	1 Quarter
Acquisition and merger expenses	`AcquisitionAndMergerExpenses`	$4.09M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.13M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.08M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.79M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$6.08M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$91.67M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$32.61M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$58.62M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$16.58M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.42M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-12.60M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.72M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.95M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-3.69M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-645.74K	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-5.97M	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-354.47K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.77M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.37M	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-18.56M	USD	2 Qtrs
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.64M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.51M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-8.22M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-10.34M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.37M	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted	`BasicAndDilutedWeightedAverageCommonShares`	$144.10M	USD	2 Qtrs
Basic and diluted	`BasicAndDilutedWeightedAverageCommonShares`	$57.86M	USD	2 Qtrs
Basic and diluted	`BasicAndDilutedWeightedAverageCommonShares`	$164.97M	USD	1 Quarter
Basic and diluted	`BasicAndDilutedWeightedAverageCommonShares`	$57.89M	USD	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.34M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.37M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.13M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.79M	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$1.76M	USD	2 Qtrs
Unrealized loss, net	`UnrealizedLossNet`	$5.59M	USD	2 Qtrs
Deferred income tax liabilities	`DeferredIncomeTaxExpenseBenefit`	$-7.43M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.99M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$46.52K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$337.25K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$3.00M	USD	2 Qtrs
Other assets and noncurrent assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.06M	USD	2 Qtrs
Other assets and noncurrent assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$330.10K	USD	2 Qtrs
Accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$468.68K	USD	2 Qtrs
Accounts payable, accrued expenses, and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.69M	USD	2 Qtrs
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-260.30K	USD	2 Qtrs
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.20M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.77M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.45M	USD	2 Qtrs
Acquisitions, net of cash acquired and share issuance costs	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$50.00K	USD	2 Qtrs
Acquisitions, net of cash acquired and share issuance costs	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$67.72M	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-5.19M	USD	2 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-69.98M	USD	2 Qtrs
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.82M	USD	2 Qtrs
Proceeds from private placements, net of issuance costs	`ProceedsFromIssuanceOfPrivatePlacement`	$191.24M	USD	2 Qtrs
Principal payments on acquired Choice debt	`RepaymentsOfOtherDebt`	$39.22M	USD	2 Qtrs
Proceeds from line of credit, net of issuance costs	`ProceedsFromLinesOfCredit`	$27.50M	USD	2 Qtrs
Payoff of lines of credit	`RepaymentsOfLinesOfCredit`	$27.78M	USD	2 Qtrs
Principal payments on debt	`RepaymentsOfShortTermDebt`	$1.42M	USD	2 Qtrs
Principal payments on debt	`RepaymentsOfShortTermDebt`	$1.37M	USD	2 Qtrs
Proceeds from exercise of stock options and warrants	`ProceedsFromStockOptionsExercised`	$3.37M	USD	2 Qtrs
Payment of shareholder advance	`RepaymentOfDueToRelatedPartyNotePayable`	$800.00K	USD	2 Qtrs
Proceeds from advances from shareholders	`ProceedsFromRelatedPartyNotePayable`	$4.60M	USD	2 Qtrs
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.43M	USD	2 Qtrs
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$153.68M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-647.42K	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$73.50M	USD	2 Qtrs
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$38.93M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$112.43M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$622.91K	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$38.93M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$112.43M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$1.27M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$622.91K	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$347.22M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.03M	USD	Point-in-time
Shares issued in connection with private placements	`StockIssuedDuringPeriodValueOther`	$191.24M	USD	2 Qtrs
Shares issued in connection with the acquisition of Choice	`StockIssuedDuringPeriodValueAcquisitions`	$48.78M	USD	2 Qtrs
Shares issued in connection with acquisitions	`StockIssuedInConnectionWithValueAcquisitions`	$44.07M	USD	2 Qtrs
Shares issued in connection with and purchases of property and equipment and to settle liabilities	`StockIssuedDuringPeriodValuePurchaseOfAssets`	$1.18M	USD	2 Qtrs
Conversion of promissory note payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$21.19M	USD	2 Qtrs
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.76M	USD	2 Qtrs
Exercise of stock options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.37M	USD	2 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-45.38K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-10.34M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.37M	USD	2 Qtrs
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$347.22M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$46.03M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.