10-Q/A Filing

POWER SOLUTIONS INTERNATIONAL, INC. CIK: 1137091 Q2 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001193125-11-246755`
Period End Date	20110630
Filing Date	20110913
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	cik0001137091-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 58 Cash Flow Statement 66

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Series A convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	114,000.00	shares	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	114,000.00	shares	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Cash	`Cash`	-	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	95,961.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.28M	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	113,961.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$20.96M	USD	Point-in-time
Inventories	`InventoryNet`	$32.17M	USD	Point-in-time
Inventories	`InventoryNet`	$30.39M	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	113,961.00	shares	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	95,961.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.03M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.49M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$835.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$687.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$50.16M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.77M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$53.67M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	10.00M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.88M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.69M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.00M	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.39M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.31M	USD	Point-in-time
Total assets	`Assets`	$57.76M	USD	Point-in-time
Total assets	`Assets`	$55.35M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$619.00K	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$22.00K	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.23M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$16.22M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$21.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentBankOverdraft`	$18.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentBankOverdraft`	$17.21M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.47M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.81M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$189.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$189.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$233.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$257.00K	USD	Point-in-time
Private placement warrants	`DerivativeWarrantLiabilitiesNoncurrent`	$2.78M	USD	Point-in-time
Long-term debt and capital lease obligations, net of current maturities	`LongTermDebtAndCapitalLeaseObligations`	$5.68M	USD	Point-in-time
Long-term debt and capital lease obligations, net of current maturities	`LongTermDebtAndCapitalLeaseObligations`	$54.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$50.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$40.10M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A convertible preferred stock - $0.001 par value: Authorized 114,000 shares. Issued and outstanding: 113,961 and 95,961 shares at June 30, 2011 and December 31, 2010, respectively.	`PreferredStockValue`	$10.32M	USD	Point-in-time
Common stock - $0.001 par value. Authorized 50,000,000 shares. Issued and outstanding: 10,770,083 and 10,000,000 shares at June 30, 2011 and December 31, 2010, respectively.	`CommonStockValue`	$10.00K	USD	Point-in-time
Common stock - $0.001 par value. Authorized 50,000,000 shares. Issued and outstanding: 10,770,083 and 10,000,000 shares at June 30, 2011 and December 31, 2010, respectively.	`CommonStockValue`	$11.00K	USD	Point-in-time
Common stock warrant	`CommonStockWarrant`	$399.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$5.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$-3.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$6.92M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$17.66M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$5.36M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$55.35M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$57.76M	USD	Point-in-time

Income Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$35.33M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$23.77M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$43.40M	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$66.68M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$28.84M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$54.22M	USD	2 Qtrs
Cost of sales	`CostOfGoodsSold`	$19.68M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$36.26M	USD	2 Qtrs
Gross profit	`GrossProfit`	$4.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$7.14M	USD	2 Qtrs
Gross profit	`GrossProfit`	$12.46M	USD	2 Qtrs
Gross profit	`GrossProfit`	$6.49M	USD	1 Quarter
Engineering	`Engineering`	$1.02M	USD	1 Quarter
Engineering	`Engineering`	$2.01M	USD	2 Qtrs
Engineering	`Engineering`	$1.74M	USD	2 Qtrs
Engineering	`Engineering`	$1.03M	USD	1 Quarter
Selling and service	`SellingAndMarketingExpense`	$2.46M	USD	2 Qtrs
Selling and service	`SellingAndMarketingExpense`	$1.29M	USD	1 Quarter
Selling and service	`SellingAndMarketingExpense`	$1.77M	USD	1 Quarter
Selling and service	`SellingAndMarketingExpense`	$3.17M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$715.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.12M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.43M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.44M	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$3.03M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$3.92M	USD	1 Quarter
Operating expenses	`OperatingExpenses`	$7.60M	USD	2 Qtrs
Operating expenses	`OperatingExpenses`	$5.64M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$2.57M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.86M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.50M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.06M	USD	1 Quarter
Interest expense	`InterestExpense`	$998.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$301.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$930.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$486.00K	USD	1 Quarter
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-485.00K	USD	2 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-485.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-658.00K	USD	2 Qtrs
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-658.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$572.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.79M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$504.00K	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.13M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$612.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.22M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$108.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$95.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$1.57M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$464.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$409.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$514.00K	USD	1 Quarter
Undistributed earnings	`UndistributedEarnings`	$514.00K	USD	1 Quarter
Undistributed earnings	`UndistributedEarnings`	$464.00K	USD	1 Quarter
Undistributed earnings	`UndistributedEarnings`	$1.57M	USD	2 Qtrs
Undistributed earnings	`UndistributedEarnings`	$409.00K	USD	2 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.57M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$464.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$409.00K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$514.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$401.00K	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$389.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-7.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-124.00K	USD	2 Qtrs
Increase (decrease) in accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$-2.00K	USD	2 Qtrs
Increase (decrease) in accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$55.00K	USD	2 Qtrs
Decrease in valuation of private placement warrants	`ChangeInValuationOfPrivatePlacementWarrants`	$105.00K	USD	2 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-485.00K	USD	2 Qtrs
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-485.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.74M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-14.29M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.81M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.78M	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$608.00K	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$492.00K	USD	2 Qtrs
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-290.00K	USD	2 Qtrs
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-246.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$74.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-12.25M	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$23.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$263.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-619.00K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.12M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$90.00K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.44M	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.32M	USD	2 Qtrs
Purchase of property, plant, equipment and other assets	`PaymentsToAcquireProductiveAssets`	$281.00K	USD	2 Qtrs
Purchase of property, plant, equipment and other assets	`PaymentsToAcquireProductiveAssets`	$372.00K	USD	2 Qtrs
Increase in cash surrender value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$12.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-281.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-384.00K	USD	2 Qtrs
(Decrease) increase in cash overdraft	`IncreaseDecreaseInBookOverdrafts`	$-307.00K	USD	2 Qtrs
(Decrease) increase in cash overdraft	`IncreaseDecreaseInBookOverdrafts`	$781.00K	USD	2 Qtrs
Initial proceeds from borrowings under current line of credit	`ProceedsFromLinesOfCredit`	$18.34M	USD	2 Qtrs
Net decrease in current line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-2.12M	USD	2 Qtrs
Repayment of prior line of credit	`RepaymentsOfLinesOfCredit`	$1.97M	USD	2 Qtrs
Repayment of prior line of credit	`RepaymentsOfLinesOfCredit`	$21.63M	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$43.00K	USD	2 Qtrs
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$52.00K	USD	2 Qtrs
Proceeds from issuance of preferred stock with warrants	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$18.00M	USD	2 Qtrs
Payments on long-term debt and capital lease obligations	`RepaymentsOfLongTermDebt`	$933.00K	USD	2 Qtrs
Payments on long-term debt and capital lease obligations	`RepaymentsOfLongTermDebt`	$7.87M	USD	2 Qtrs
Cash paid for transaction and financing fees	`PaymentOfFinancingAndStockIssuanceCosts`	$3.84M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.71M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.16M	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	2 Qtrs
Cash at beginning of period	`Cash`	-	USD	Point-in-time
Cash at beginning of period	`Cash`	-	USD	Point-in-time
Cash at beginning of period	`Cash`	-	USD	Point-in-time
Cash at beginning of period	`Cash`	-	USD	Point-in-time
Cash at end of period	`Cash`	-	USD	Point-in-time
Cash at end of period	`Cash`	-	USD	Point-in-time
Cash at end of period	`Cash`	-	USD	Point-in-time
Cash at end of period	`Cash`	-	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$718.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$934.00K	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$2.32M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.19M	USD	2 Qtrs
Transaction fees	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$588.00K	USD	2 Qtrs
Dividends	`DividendsNonCash`	$224.00K	USD	2 Qtrs
Common stock warrant issued	`CommonStockWarrantIssued`	$399.00K	USD	2 Qtrs

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