10-Q Filing

SILVAN INDUSTRIES, INC. CIK: 1373683 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001204459-11-002361`
Period End Date	20110630
Filing Date	20110822
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	pnxe-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 84 Cash Flow Statement 60

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$27.25K	USD	Point-in-time
Preferred Stock, Par Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Par Value Per Share	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.07M	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.33M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.18M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.47M	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance of $- and $27,252, respectively	`AccountsReceivableNetCurrent`	$9.41M	USD	Point-in-time
Accounts receivable, net of allowance of $- and $27,252, respectively	`AccountsReceivableNetCurrent`	$5.42M	USD	Point-in-time
Common Stock, Par Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$6.95M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventory	`InventoryNet`	$11.60M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	30.00M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	30.00M	shares	Point-in-time
Deposits and prepaid expenses	`DepositsAssetsCurrent`	$10.56M	USD	Point-in-time
Deposits and prepaid expenses	`DepositsAssetsCurrent`	$9.34M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$1.31M	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$777.24K	USD	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	30.00M	shares	Point-in-time
Common Stock, Shares, Outstanding	`CommonStockSharesOutstanding`	30.00M	shares	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	$1.45M	USD	Point-in-time
Due from related party	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Taxes recoverable	`ValueAddedTaxReceivable`	$2.45M	USD	Point-in-time
Taxes recoverable	`ValueAddedTaxReceivable`	$622.51K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.92M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.35M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.46M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$9.19M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$6.67M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$5.30M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$5.41M	USD	Point-in-time
Prepayment for property, plant and equipment	`DepositsAssetsNoncurrent`	$1.83M	USD	Point-in-time
Prepayment for property, plant and equipment	`DepositsAssetsNoncurrent`	$7.21M	USD	Point-in-time
Total assets	`Assets`	$48.65M	USD	Point-in-time
Total assets	`Assets`	$64.19M	USD	Point-in-time
Short term loans	`ShortTermBankLoansAndNotesPayable`	$4.54M	USD	Point-in-time
Short term loans	`ShortTermBankLoansAndNotesPayable`	$8.35M	USD	Point-in-time
Accounts payable and bills payable	`AccountsPayableCurrent`	$4.49M	USD	Point-in-time
Accounts payable and bills payable	`AccountsPayableCurrent`	$3.39M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.94M	USD	Point-in-time
Customer deposits	`CustomerDepositsCurrent`	$1.58M	USD	Point-in-time
Other payables and accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$1.83M	USD	Point-in-time
Other payables and accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$1.31M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	$1.53M	USD	Point-in-time
Due to related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$3.55M	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$2.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.28M	USD	Point-in-time
Long term loans	`LongTermLoansFromBank`	-	USD	Point-in-time
Long term loans	`LongTermLoansFromBank`	$7.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.72M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock: 5,000,000 shares authorized of $0.001 par value none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock: 5,000,000 shares authorized of $0.001 par value none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock: 100,000,000 shares authorized of $0.001 par value 30,000,000 and 30,000,000 shares issued and outstanding as of June 30, 2011 and December 31, 2010, respectively	`CommonStockValue`	$30.00K	USD	Point-in-time
Common stock: 100,000,000 shares authorized of $0.001 par value 30,000,000 and 30,000,000 shares issued and outstanding as of June 30, 2011 and December 31, 2010, respectively	`CommonStockValue`	$30.00K	USD	Point-in-time
Additional paid in capital - Stock and stock equivalents	`AdditionalPaidInCapital`	$17.99M	USD	Point-in-time
Additional paid in capital - Stock and stock equivalents	`AdditionalPaidInCapital`	$17.99M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.94M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.07M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.62M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$37.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.93M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$64.19M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$48.65M	USD	Point-in-time

Income Statement 84 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$18.90M	USD	2 Qtrs
Revenue	`Revenues`	$12.59M	USD	1 Quarter
Revenue	`Revenues`	$8.46M	USD	1 Quarter
Revenue	`Revenues`	$16.88M	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	$8.93M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$11.71M	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	$12.05M	USD	2 Qtrs
Cost of revenue	`CostOfRevenue`	$5.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.27M	USD	1 Quarter
Gross profit	`GrossProfit`	$3.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$6.85M	USD	2 Qtrs
Gross profit	`GrossProfit`	$5.17M	USD	2 Qtrs
Selling expenses	`SellingExpense`	$118.32K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$726.23K	USD	2 Qtrs
Selling expenses	`SellingExpense`	$376.64K	USD	1 Quarter
Selling expenses	`SellingExpense`	$42.88K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$702.08K	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$483.12K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$531.15K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$904.77K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$907.78K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$820.39K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$526.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.63M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$2.37M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.35M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$5.22M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$3.13M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$14.58K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$23.57K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	2 Qtrs
Interest expenses	`InterestExpense`	$635.01K	USD	2 Qtrs
Interest expenses	`InterestExpense`	$414.99K	USD	1 Quarter
Interest expenses	`InterestExpense`	$49.06K	USD	2 Qtrs
Interest expenses	`InterestExpense`	$27.71K	USD	1 Quarter
Other (expenses) income	`OtherNonoperatingIncomeExpense`	$-8.51K	USD	1 Quarter
Other (expenses) income	`OtherNonoperatingIncomeExpense`	$43.86K	USD	2 Qtrs
Other (expenses) income	`OtherNonoperatingIncomeExpense`	$-30.36K	USD	2 Qtrs
Other (expenses) income	`OtherNonoperatingIncomeExpense`	$293.00	USD	1 Quarter
Government grant	`RevenueFromGrants`	$1.13M	USD	1 Quarter
Government grant	`RevenueFromGrants`	$45.41K	USD	2 Qtrs
Government grant	`RevenueFromGrants`	$1.42M	USD	2 Qtrs
Government grant	`RevenueFromGrants`	$342.00	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-596.39K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-408.58K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$1.41M	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$1.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.23M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.62M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$5.77M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.96M	USD	1 Quarter
Less: Provision for income taxes	`IncomeTaxExpenseBenefit`	$605.75K	USD	1 Quarter
Less: Provision for income taxes	`IncomeTaxExpenseBenefit`	$906.51K	USD	1 Quarter
Less: Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.22M	USD	2 Qtrs
Less: Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.18M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.55M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.35M	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$183.49K	USD	2 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$647.71K	USD	2 Qtrs
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$91.45K	USD	1 Quarter
Foreign currency translation gain	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$543.69K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.73M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.09M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.90M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.42M	USD	1 Quarter
- EPS Basic	`EarningsPerShareBasic`	$0.11	USD	2 Qtrs
- EPS Basic	`EarningsPerShareBasic`	$0.22	USD	2 Qtrs
- EPS Basic	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
- EPS Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
- EPS Diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
- EPS Diluted	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
- EPS Diluted	`EarningsPerShareDiluted`	$0.11	USD	2 Qtrs
- EPS Diluted	`EarningsPerShareDiluted`	$0.22	USD	2 Qtrs
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.50M	shares	1 Quarter
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.00M	shares	2 Qtrs
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.00M	shares	1 Quarter
- Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.50M	shares	2 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.00M	shares	1 Quarter
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	30.00M	shares	2 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.50M	shares	2 Qtrs
- Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	20.50M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$4.55M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$3.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.35M	USD	1 Quarter
Depreciation	`Depreciation`	$136.78K	USD	2 Qtrs
Depreciation	`Depreciation`	$164.53K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$118.79K	USD	2 Qtrs
Amortization	`AdjustmentForAmortization`	$108.48K	USD	2 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$-27.47K	USD	2 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	-	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.56M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.81M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-4.88M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$4.46M	USD	2 Qtrs
Deposits and prepaid expenses	`IncreaseDecreaseInDeposits`	$1.39M	USD	2 Qtrs
Deposits and prepaid expenses	`IncreaseDecreaseInDeposits`	$2.87M	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$509.38K	USD	2 Qtrs
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-60.94K	USD	2 Qtrs
Taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$352.77K	USD	2 Qtrs
Taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.86M	USD	2 Qtrs
Accounts payable and bills payable	`IncreaseDecreaseInAccountsPayable`	$1.02M	USD	2 Qtrs
Accounts payable and bills payable	`IncreaseDecreaseInAccountsPayable`	$-7.99M	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$-393.30K	USD	2 Qtrs
Customer deposits	`IncreaseDecreaseInCustomerDeposits`	$344.01K	USD	2 Qtrs
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$121.58K	USD	2 Qtrs
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$6.14M	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedTaxesPayable`	$188.13K	USD	2 Qtrs
Income tax payable	`IncreaseDecreaseInAccruedTaxesPayable`	$960.53K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-892.32K	USD	2 Qtrs
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.16M	USD	2 Qtrs
Acquisition of property, plant and equipment and construction in progress	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.42M	USD	2 Qtrs
Acquisition of property, plant and equipment and construction in progress	`PaymentsToAcquirePropertyPlantAndEquipment`	$799.82K	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$2.49M	USD	2 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$5.89M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.69M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.90M	USD	2 Qtrs
Repayment of short term and long term debts	`RepaymentsOfBankDebt`	$715.83K	USD	2 Qtrs
Repayment of short term and long term debts	`RepaymentsOfBankDebt`	$3.06M	USD	2 Qtrs
Proceeds from short term and long term debts	`ProceedsFromBankDebt`	$14.54M	USD	2 Qtrs
Proceeds from short term and long term debts	`ProceedsFromBankDebt`	$3.67M	USD	2 Qtrs
Repayment of due to related party	`RepaymentsOfRelatedPartyDebt`	-	USD	2 Qtrs
Repayment of due to related party	`RepaymentsOfRelatedPartyDebt`	$2.88M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.61M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.95M	USD	2 Qtrs
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$183.55K	USD	2 Qtrs
Effect of exchange rate changes in cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$39.09K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-151.49K	USD	2 Qtrs
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.60M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.07M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.33M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.47M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.07M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.33M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.47M	USD	Point-in-time
Interest	`InterestPaid`	$49.06K	USD	2 Qtrs
Interest	`InterestPaid`	$635.01K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$197.96K	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.22M	USD	2 Qtrs

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