10-K Filing

POWER SOLUTIONS INTERNATIONAL, INC. CIK: 1137091 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001193125-12-142607`
Period End Date	20111231
Filing Date	20120330
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	cik0001137091-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 44 Cash Flow Statement 87 Stockholders Equity 14

Balance Sheet 76 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
Cash	`Cash`	-	USD	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
Series A convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	114,000.00	shares	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$16.28M	USD	Point-in-time
Series A convertible preferred stock, shares issued	`PreferredStockSharesIssued`	95,961.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$29.52M	USD	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	95,961.00	shares	Point-in-time
Series A convertible preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$33.39M	USD	Point-in-time
Inventories, net	`InventoryNet`	$32.17M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.03M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$687.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.81M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$50.16M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$66.02M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	312,500.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.06M	shares	Point-in-time
Property, plant & equipment, net	`PropertyPlantAndEquipmentNet`	$2.88M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	312,500.00	shares	Point-in-time
Property, plant & equipment, net	`PropertyPlantAndEquipmentNet`	$3.61M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.31M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockShares`	0.00	shares	Point-in-time
Treasury stock, at cost	`TreasuryStockShares`	830,925.00	shares	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.45M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$55.35M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$71.08M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$619.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$564.00K	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.23M	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$23.00K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$19.67M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$21.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentBankOverdraft`	$17.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentBankOverdraft`	$27.57M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.21M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$51.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.90M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$189.00K	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$116.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$490.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$233.00K	USD	Point-in-time
Private placement warrants	`DerivativeWarrantLiabilitiesNoncurrent`	-	USD	Point-in-time
Private placement warrants	`DerivativeWarrantLiabilitiesNoncurrent`	$3.27M	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`	$41.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$55.76M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$50.00M	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: -0- and 95,961 shares at December 31, 2011 and 2010, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Series A convertible preferred stock - $0.001 par value. Authorized 114,000 shares. Issued and outstanding: -0- and 95,961 shares at December 31, 2011 and 2010, respectively.	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $0.001 par value. Authorized 50,000,000 shares. Issued and outstanding 9,064,537 and 312,500 shares at December 31, 2011 and 2010, respectively.	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$7.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$10.15M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.35M	USD	Point-in-time
Treasury stock, at cost, 830,925 shares and -0- at December 31, 2011 and 2010, respectively.	`TreasuryStockValue`	$4.25M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$5.36M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$15.32M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$3.79M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$1.40M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$55.35M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$71.08M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$154.97M	USD	Annual
Net sales	`SalesRevenueGoodsNet`	$82.90M	USD	Annual
Net sales	`SalesRevenueGoodsNet`	$100.52M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$83.89M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$128.54M	USD	Annual
Cost of sales	`CostOfGoodsSold`	$66.52M	USD	Annual
Gross profit	`GrossProfit`	$26.43M	USD	Annual
Gross profit	`GrossProfit`	$16.38M	USD	Annual
Gross profit	`GrossProfit`	$16.63M	USD	Annual
Research & development and engineering	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$2.72M	USD	Annual
Research & development and engineering	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$4.71M	USD	Annual
Research & development and engineering	`ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost`	$3.85M	USD	Annual
Selling and service	`SellingAndMarketingExpense`	$4.52M	USD	Annual
Selling and service	`SellingAndMarketingExpense`	$5.46M	USD	Annual
Selling and service	`SellingAndMarketingExpense`	$6.67M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.25M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.24M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.06M	USD	Annual
Operating expenses	`OperatingExpenses`	$16.62M	USD	Annual
Operating expenses	`OperatingExpenses`	$12.56M	USD	Annual
Operating expenses	`OperatingExpenses`	$10.30M	USD	Annual
Operating income	`OperatingIncomeLoss`	$6.08M	USD	Annual
Operating income	`OperatingIncomeLoss`	$9.80M	USD	Annual
Operating income	`OperatingIncomeLoss`	$4.07M	USD	Annual
Interest expense	`InterestExpense`	$2.30M	USD	Annual
Interest expense	`InterestExpense`	$2.13M	USD	Annual
Interest expense	`InterestExpense`	$1.34M	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-485.00K	USD	Annual
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-1.15M	USD	Annual
Other (income) expense	`NonoperatingIncomeExpense`	$-2.97M	USD	Annual
Other (income) expense	`NonoperatingIncomeExpense`	$-2.13M	USD	Annual
Other (income) expense	`NonoperatingIncomeExpense`	$-2.30M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$6.83M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.77M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.94M	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	$2.77M	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	$1.39M	USD	Annual
Income tax provision	`IncomeTaxExpenseBenefit`	$366.00K	USD	Annual
Net income	`NetIncomeLoss`	$2.39M	USD	Annual
Net income	`NetIncomeLoss`	$4.06M	USD	Annual
Net income	`NetIncomeLoss`	$1.57M	USD	Annual
Undistributed earnings	`UndistributedEarnings`	$2.39M	USD	Annual
Undistributed earnings	`UndistributedEarnings`	$4.06M	USD	Annual
Undistributed earnings	`UndistributedEarnings`	$1.57M	USD	Annual

Cash Flow Statement 87 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.39M	USD	Annual
Net income	`NetIncomeLoss`	$4.06M	USD	Annual
Net income	`NetIncomeLoss`	$1.57M	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$988.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$984.00K	USD	Annual
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$820.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-870.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$38.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-159.00K	USD	Annual
Increase (decrease) in accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$-249.00K	USD	Annual
Increase (decrease) in accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$246.00K	USD	Annual
Increase (decrease) in accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$-120.00K	USD	Annual
Change in valuation of private placement warrants	`ChangeInValuationOfPrivatePlacementWarrants`	$-382.00K	USD	Annual
Loss on debt extinguishment	`GainsLossesOnExtinguishmentOfDebt`	$-485.00K	USD	Annual
Loss on disposal of assets	`GainsLossesOnSalesOfOtherAssets`	$-6.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.01M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.99M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.57M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.23M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$4.86M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.00M	USD	Annual
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$410.00K	USD	Annual
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$533.00K	USD	Annual
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$72.00K	USD	Annual
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-76.00K	USD	Annual
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-173.00K	USD	Annual
Other noncurrent assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-360.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-9.26M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$7.37M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$13.22M	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-208.00K	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$1.61M	USD	Annual
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$463.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$189.00K	USD	Annual
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-73.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.23M	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-671.00K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-55.00K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.39M	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-973.00K	USD	Annual
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.92M	USD	Annual
Purchases of property, plant, equipment and other assets	`PaymentsToAcquireProductiveAssets`	$1.56M	USD	Annual
Purchases of property, plant, equipment and other assets	`PaymentsToAcquireProductiveAssets`	$541.00K	USD	Annual
Purchases of property, plant, equipment and other assets	`PaymentsToAcquireProductiveAssets`	$363.00K	USD	Annual
Increase in cash surrender value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$13.00K	USD	Annual
Increase in cash surrender value of life insurance	`PaymentsForProceedsFromLifeInsurancePolicies`	$42.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-363.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-583.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.57M	USD	Annual
Increase (decrease) in cash overdraft	`IncreaseDecreaseInBookOverdrafts`	$-120.00K	USD	Annual
Increase (decrease) in cash overdraft	`IncreaseDecreaseInBookOverdrafts`	$3.25M	USD	Annual
Increase (decrease) in cash overdraft	`IncreaseDecreaseInBookOverdrafts`	$-718.00K	USD	Annual
Net change in current line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-592.00K	USD	Annual
Net change in current line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-776.00K	USD	Annual
Net change in current line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$1.33M	USD	Annual
Initial proceeds from borrowings under current line of credit	`ProceedsFromLinesOfCredit`	$18.34M	USD	Annual
Repayment of prior line of credit	`RepaymentsOfLinesOfCredit`	$21.63M	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$95.00K	USD	Annual
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$43.00K	USD	Annual
Proceeds from issuance of preferred stock with warrants	`ProceedsFromIssuanceOfConvertiblePreferredStock`	$18.00M	USD	Annual
Payments on long-term debt and capital lease obligations	`RepaymentsOfLongTermDebt`	$1.65M	USD	Annual
Payments on long-term debt and capital lease obligations	`RepaymentsOfLongTermDebt`	$2.23M	USD	Annual
Payments on long-term debt and capital lease obligations	`RepaymentsOfLongTermDebt`	$7.88M	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$4.25M	USD	Annual
Cash paid for transaction and financing fees	`PaymentOfFinancingAndStockIssuanceCosts`	$70.00K	USD	Annual
Cash paid for transaction and financing fees	`PaymentOfFinancingAndStockIssuanceCosts`	$4.65M	USD	Annual
Cash paid for transaction and financing fees	`PaymentOfFinancingAndStockIssuanceCosts`	$314.00K	USD	Annual
Net cash provided by (used in) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.34M	USD	Annual
Net cash provided by (used in) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.54M	USD	Annual
Net cash provided by (used in) in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.02M	USD	Annual
Change in cash	`CashPeriodIncreaseDecrease`	-	USD	Annual
Change in cash	`CashPeriodIncreaseDecrease`	-	USD	Annual
Change in cash	`CashPeriodIncreaseDecrease`	-	USD	Annual
Cash at beginning of the year	`Cash`	-	USD	Point-in-time
Cash at beginning of the year	`Cash`	-	USD	Point-in-time
Cash at beginning of the year	`Cash`	-	USD	Point-in-time
Cash at beginning of the year	`Cash`	-	USD	Point-in-time
Cash at end of the year	`Cash`	-	USD	Point-in-time
Cash at end of the year	`Cash`	-	USD	Point-in-time
Cash at end of the year	`Cash`	-	USD	Point-in-time
Cash at end of the year	`Cash`	-	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.77M	USD	Annual
Cash paid for interest	`InterestPaid`	$1.90M	USD	Annual
Cash paid for interest	`InterestPaid`	$1.16M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.20M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$3.69M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$234.00K	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$5.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$15.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.79M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.40M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.39M	USD	Annual
Net income	`NetIncomeLoss`	$4.06M	USD	Annual
Net income	`NetIncomeLoss`	$1.57M	USD	Annual
Reverse Recapitalization	`ReverseRecapitalization`	$380.00K	USD	Annual
Net proceeds from private placement	`NetProceedsFromPrivatePlacement`	$10.54M	USD	Annual
Repurchase of common stock	`RepurchaseOfCommonStock`	$4.25M	USD	Annual
Balance	`StockholdersEquity`	$5.36M	USD	Point-in-time
Balance	`StockholdersEquity`	$15.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$3.79M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.40M	USD	Point-in-time

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