10-Q Filing

SWISHER HYGIENE INC. CIK: 1504747 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001354488-13-001092`
Period End Date	20120331
Filing Date	20130311
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	swsh-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 43 Cash Flow Statement 63 Stockholders Equity 13

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.22M	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$38.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$104.99M	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$70.51M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $2,392 at March 31, 2012 and $2,185 at December 31, 2011)	`AccountsReceivableNetCurrent`	$27.75M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $2,392 at March 31, 2012 and $2,185 at December 31, 2011)	`AccountsReceivableNetCurrent`	$27.62M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$15.68M	USD	Point-in-time
Inventory	`InventoryNet`	$15.69M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$140.93M	USD	Point-in-time
Assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$141.73M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$2.62M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	174.84M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	174.81M	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$2.79M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	174.81M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$258.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$236.24M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	174.84M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$43.60M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$38.95M	USD	Point-in-time
Goodwill	`Goodwill`	$107.59M	USD	Point-in-time
Goodwill	`Goodwill`	$106.04M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$56.26M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$56.96M	USD	Point-in-time
Deferred income tax assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$14.73M	USD	Point-in-time
Deferred income tax assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$14.58M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$3.59M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$3.90M	USD	Point-in-time
Total assets	`Assets`	$478.40M	USD	Point-in-time
Total assets	`Assets`	$462.32M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$34.45M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$32.71M	USD	Point-in-time
Long-term debt and obligations due within one year	`ShortTermBorrowings`	$13.57M	USD	Point-in-time
Long-term debt and obligations due within one year	`ShortTermBorrowings`	$13.73M	USD	Point-in-time
Advances from shareholder	`DueToRelatedPartiesCurrent`	$2.00M	USD	Point-in-time
Advances from shareholder	`DueToRelatedPartiesCurrent`	$2.00M	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$33.59M	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$33.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$81.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$83.60M	USD	Point-in-time
Long-term debt and obligations	`LongTermDebtNoncurrent`	$44.66M	USD	Point-in-time
Long-term debt and obligations	`LongTermDebtNoncurrent`	$47.27M	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$3.68M	USD	Point-in-time
Other long term liabilities	`OtherLiabilitiesNoncurrent`	$3.59M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$48.24M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$50.94M	USD	Point-in-time
Preferred stock, par value $0.001, authorized 10,000,000 shares; no shares issued and outstanding at March 31, 2012 and December 31, 2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001, authorized 10,000,000 shares; no shares issued and outstanding at March 31, 2012 and December 31, 2011	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001, authorized 600,000,000 shares; 174,840,387 and 174,810,082 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$175.00K	USD	Point-in-time
Common stock, par value $0.001, authorized 600,000,000 shares; 174,840,387 and 174,810,082 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$175.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$380.48M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$378.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.33M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-835.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-839.00K	USD	Point-in-time
Total Swisher Hygiene Inc. stockholders' equity	`StockholdersEquity`	$343.83M	USD	Point-in-time
Total Swisher Hygiene Inc. stockholders' equity	`StockholdersEquity`	$332.23M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$22.00K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$22.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$332.25M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$343.86M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$343.86M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$478.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$462.32M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$14.71M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$50.85M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$7.01M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$5.37M	USD	1 Quarter
Franchise and other	`RevenueFromFranchisedOutlets`	$1.39M	USD	1 Quarter
Franchise and other	`RevenueFromFranchisedOutlets`	$294.00K	USD	1 Quarter
Total revenue	`Revenues`	$21.48M	USD	1 Quarter
Total revenue	`Revenues`	$58.15M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$8.24M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$25.25M	USD	1 Quarter
Route expenses	`RouteExpenses`	$5.16M	USD	1 Quarter
Route expenses	`RouteExpenses`	$10.59M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$13.54M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$29.97M	USD	1 Quarter
Acquisition and merger expenses	`AcquisitionAndMergerExpenses`	$1.26M	USD	1 Quarter
Acquisition and merger expenses	`AcquisitionAndMergerExpenses`	$120.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.98M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.12M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$30.32M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$70.91M	USD	1 Quarter
Loss from continuing operations	`OperatingIncomeLoss`	$-12.75M	USD	1 Quarter
Loss from continuing operations	`OperatingIncomeLoss`	$-8.84M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-2.26M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-426.00K	USD	1 Quarter
Net loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-11.10M	USD	1 Quarter
Net loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.18M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$5.73M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-80.00K	USD	1 Quarter
Net loss from continuing operations	`NetIncomeLoss`	$-5.37M	USD	1 Quarter
Net loss from continuing operations	`NetIncomeLoss`	$-13.26M	USD	1 Quarter
Net loss from continuing operations	`NetIncomeLoss`	$-13.26M	USD	5 Qtrs
Loss from discontinued operations, net of tax	`DiscontinuedOperationAmountOfAdjustmentToPriorPeriodGainLossOnDisposalNetOfTax`	$-625.00K	USD	1 Quarter
Loss from discontinued operations, net of tax	`DiscontinuedOperationAmountOfAdjustmentToPriorPeriodGainLossOnDisposalNetOfTax`	$-1.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-13.26M	USD	1 Quarter
Net loss	`ProfitLoss`	$-6.00M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$242.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-4.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.27M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-5.76M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
Basic and diluted	`BasicAndDiluted`	122.78M	shares	1 Quarter
Basic and diluted	`BasicAndDiluted`	174.83M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss from continuing operations	`NetIncomeLoss`	$-5.37M	USD	1 Quarter
Net loss from continuing operations	`NetIncomeLoss`	$-13.26M	USD	1 Quarter
Net loss from continuing operations	`NetIncomeLoss`	$-13.26M	USD	5 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.98M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.11M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$13.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.58M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$802.00K	USD	1 Quarter
Unrealized (gain) loss on fair value of convertible promissory notes	`UnrealizedGainLossOnFairValueOfConvertiblePromissoryNotes`	$1.96M	USD	1 Quarter
Unrealized (gain) loss on fair value of convertible promissory notes	`UnrealizedGainLossOnFairValueOfConvertiblePromissoryNotes`	$-29.00K	USD	1 Quarter
Deferred income tax assets and liabilities	`DeferredIncomeTaxExpenseBenefit`	$-146.00K	USD	1 Quarter
Deferred income tax assets and liabilities	`DeferredIncomeTaxExpenseBenefit`	$-5.90M	USD	1 Quarter
Other	`OtherOperatingIncome`	-	USD	1 Quarter
Other	`OtherOperatingIncome`	$9.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.81M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-741.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-547.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$94.00K	USD	1 Quarter
Other assets and noncurrent assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-484.00K	USD	1 Quarter
Other assets and noncurrent assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.38M	USD	1 Quarter
Accounts payable, accrued expenses, and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.88M	USD	1 Quarter
Accounts payable, accrued expenses, and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.39M	USD	1 Quarter
Cash used in operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivities`	$-8.78M	USD	1 Quarter
Cash used in operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivities`	$-6.71M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.85M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.31M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$4.31M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$49.78M	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-5.19M	USD	1 Quarter
Cash used in investing activities of continuing operations	`NetCashProvidedByUsedInInvestingActivities`	$-46.44M	USD	1 Quarter
Cash used in investing activities of continuing operations	`NetCashProvidedByUsedInInvestingActivities`	$-9.62M	USD	1 Quarter
Proceeds from private placements, net of issuance costs	`ProceedsFromIssuanceOfPrivatePlacement`	$116.07M	USD	1 Quarter
Proceeds from private placements, net of issuance costs	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	1 Quarter
Proceeds from line of credit, net of issuance costs	`ProceedsFromLinesOfCredit`	$27.29M	USD	1 Quarter
Proceeds from line of credit, net of issuance costs	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Payoff of lines of credit	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Payoff of lines of credit	`RepaymentsOfLinesOfCredit`	$24.95M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfShortTermDebt`	$3.48M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfShortTermDebt`	$790.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$217.00K	USD	1 Quarter
Cash (used in) provided by financing activities of continuing operations	`NetCashProvidedByUsedInFinancingActivities`	$-3.48M	USD	1 Quarter
Cash (used in) provided by financing activities of continuing operations	`NetCashProvidedByUsedInFinancingActivities`	$117.84M	USD	1 Quarter
Net cash provided by operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$2.00M	USD	1 Quarter
Net cash provided by operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$2.21M	USD	1 Quarter
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-1.52M	USD	1 Quarter
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-600.00K	USD	1 Quarter
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-93.00K	USD	1 Quarter
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-30.00K	USD	1 Quarter
Cash provided by discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$596.00K	USD	1 Quarter
Cash provided by discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$1.37M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.29M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$66.06M	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$49.22M	USD	Point-in-time
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`	$104.99M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$70.51M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$49.22M	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`	$104.99M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$70.51M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$332.25M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$343.86M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$343.86M	USD	Point-in-time
Shares issued for non-controlling interest	`SharesIssuedForNonControllingInterestValue`	$37.00K	USD	5 Qtrs
Conversion of convertible promissory notes payable	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$37.00K	USD	5 Qtrs
Stock based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.58M	USD	5 Qtrs
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-4.00K	USD	5 Qtrs
Net loss	`NetIncomeLoss`	$-5.37M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.26M	USD	5 Qtrs
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$332.25M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$343.86M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$343.86M	USD	Point-in-time

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