10-Q Filing

SWISHER HYGIENE INC. CIK: 1504747 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001354488-13-003171`
Period End Date	20130331
Filing Date	20130524
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	swsh-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 48 Cash Flow Statement 52

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.22M	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$70.51M	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.33M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$5.49M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$5.39M	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $2,218 at March 31, 2013 and $2,335 at December 31, 2012)	`AccountsReceivableNetCurrent`	$19.82M	USD	Point-in-time
Accounts receivable, (net of allowance for doubtful accounts of $2,218 at March 31, 2013 and $2,335 at December 31, 2012)	`AccountsReceivableNetCurrent`	$21.23M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$15.33M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Inventory	`InventoryNet`	$15.85M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivable from sale of discontinued operations	`EscrowDeposit`	$12.50M	USD	Point-in-time
Receivable from sale of discontinued operations	`EscrowDeposit`	$12.50M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred income tax asset	`DeferredTaxAssetsNetCurrent`	$794.00K	USD	Point-in-time
Deferred income tax asset	`DeferredTaxAssetsNetCurrent`	$2.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other assets	`OtherAssetsCurrent`	$4.36M	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
Other assets	`OtherAssetsCurrent`	$4.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$109.39M	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
Total current assets	`AssetsCurrent`	$122.66M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	175.16M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	175.16M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.71M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.35M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	175.16M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	175.16M	shares	Point-in-time
Goodwill	`Goodwill`	$106.36M	USD	Point-in-time
Goodwill	`Goodwill`	$106.36M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$45.71M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$47.82M	USD	Point-in-time
Deferred income tax assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	-	USD	Point-in-time
Deferred income tax assets	`DeferredIncomeTaxesAndOtherAssetsCurrent`	$160.00K	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.31M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.50M	USD	Point-in-time
Total assets	`Assets`	$327.69M	USD	Point-in-time
Total assets	`Assets`	$312.65M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$32.61M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableCurrent`	$27.99M	USD	Point-in-time
Long-term debt and obligations due within one year	`ShortTermBorrowings`	$8.04M	USD	Point-in-time
Long-term debt and obligations due within one year	`ShortTermBorrowings`	$9.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$40.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$37.14M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtNoncurrent`	$5.28M	USD	Point-in-time
Long-term debt obligations	`LongTermDebtNoncurrent`	$3.84M	USD	Point-in-time
Deferred income tax liabilities	`DeferredIncomeTaxLiabilities`	$4.67M	USD	Point-in-time
Deferred income tax liabilities	`DeferredIncomeTaxLiabilities`	$4.06M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.45M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.44M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$13.40M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$11.34M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001, authorized 10,000,000 shares; no shares issued and outstanding at March 31, 2013 and December 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001, authorized 10,000,000 shares; no shares issued and outstanding at March 31, 2013 and December 31, 2012	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001, authorized 600,000,000 shares; 175,157,404 shares issued and outstanding at March 31, 2013 and December 31, 2012	`CommonStockValue`	$175.00K	USD	Point-in-time
Common stock, par value $0.001, authorized 600,000,000 shares; 175,157,404 shares issued and outstanding at March 31, 2013 and December 31, 2012	`CommonStockValue`	$175.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$385.45M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$386.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-124.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-107.51M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-998.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-999.00K	USD	Point-in-time
Total Swisher Hygiene Inc. stockholders' equity	`StockholdersEquity`	$260.64M	USD	Point-in-time
Total Swisher Hygiene Inc. stockholders' equity	`StockholdersEquity`	$277.12M	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 equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$277.14M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$260.66M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$312.65M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$327.69M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$46.04M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$50.85M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$5.74M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$7.01M	USD	1 Quarter
Franchise and other	`RevenueFromFranchisedOutlets`	$294.00K	USD	1 Quarter
Franchise and other	`RevenueFromFranchisedOutlets`	$241.00K	USD	1 Quarter
Total revenue	`Revenues`	$52.02M	USD	1 Quarter
Total revenue	`Revenues`	$58.15M	USD	1 Quarter
Cost of sales (exclusive of route expenses and related depreciation and amortization)	`CostOfGoodsAndServicesSold`	$25.25M	USD	1 Quarter
Cost of sales (exclusive of route expenses and related depreciation and amortization)	`CostOfGoodsAndServicesSold`	$22.57M	USD	1 Quarter
Route expenses	`RouteExpenses`	$10.57M	USD	1 Quarter
Route expenses	`RouteExpenses`	$10.59M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$29.97M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$29.98M	USD	1 Quarter
Acquisition and merger expenses	`AcquisitionAndMergerExpenses`	$120.00K	USD	1 Quarter
Acquisition and merger expenses	`AcquisitionAndMergerExpenses`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.65M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.98M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$70.91M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$68.76M	USD	1 Quarter
Loss from continuing operations	`OperatingIncomeLoss`	$-16.74M	USD	1 Quarter
Loss from continuing operations	`OperatingIncomeLoss`	$-12.75M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-426.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-71.00K	USD	1 Quarter
Net loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-16.81M	USD	1 Quarter
Net loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.18M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-80.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-427.00K	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-17.24M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-13.26M	USD	1 Quarter
Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	-	USD	1 Quarter
Loss from discontinued operations, net of tax	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-1.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.26M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.24M	USD	1 Quarter
Net loss attributable to Swisher Hygiene Inc.	`ProfitLoss`	$-17.24M	USD	1 Quarter
Net loss attributable to Swisher Hygiene Inc.	`ProfitLoss`	$-13.26M	USD	1 Quarter
Employee benefit plan adjustment, net of tax	`OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax`	-	USD	1 Quarter
Employee benefit plan adjustment, net of tax	`OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationBeforeTax`	-	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$1.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-4.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.27M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-17.24M	USD	1 Quarter
Basic and diluted (Continuing operations)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.10	USD	1 Quarter
Basic and diluted (Continuing operations)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.08	USD	1 Quarter
Basic and diluted (Discontinued operations)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted (Discontinued operations)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	-	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesIssuedBasic`	174.83M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesIssuedBasic`	175.16M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-17.24M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-13.26M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.65M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.98M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$117.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.11M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$1.58M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$754.00K	USD	1 Quarter
Realized and unrealized net gain on fair value of convertible promissory notes and earn-outs	`RealizedAndUnrealizedGainLossOnFairValueOfConvertibleNotes`	$-29.00K	USD	1 Quarter
Realized and unrealized net gain on fair value of convertible promissory notes and earn-outs	`RealizedAndUnrealizedGainLossOnFairValueOfConvertibleNotes`	-	USD	1 Quarter
Deferred income tax assets and liabilities	`DeferredIncomeTaxExpenseBenefit`	$-146.00K	USD	1 Quarter
Deferred income tax assets and liabilities	`DeferredIncomeTaxExpenseBenefit`	$427.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.29M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-741.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-518.00K	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`	$633.00K	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`	$4.59M	USD	1 Quarter
Cash used in operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivities`	$-4.30M	USD	1 Quarter
Cash used in operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivities`	$-8.78M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.91M	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`	-	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$100.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Cash used in investing activities of continuing operations	`NetCashProvidedByUsedInInvestingActivities`	$-4.01M	USD	1 Quarter
Cash used in investing activities of continuing operations	`NetCashProvidedByUsedInInvestingActivities`	$-9.62M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfShortTermDebt`	$2.53M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfShortTermDebt`	$3.48M	USD	1 Quarter
Cash used in financing activities of continuing operations	`NetCashProvidedByUsedInFinancingActivities`	$-2.53M	USD	1 Quarter
Cash used in financing activities of continuing operations	`NetCashProvidedByUsedInFinancingActivities`	$-3.48M	USD	1 Quarter
Net cash provided by operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash provided by operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$2.21M	USD	1 Quarter
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-1.52M	USD	1 Quarter
Net cash used in provided by financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-93.00K	USD	1 Quarter
Net cash used in provided by financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Cash used in discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	-	USD	1 Quarter
Cash used in discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$596.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.29M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.83M	USD	1 Quarter
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$61.42M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$50.59M	USD	Point-in-time
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`	$70.51M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$61.42M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$50.59M	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`	$70.51M	USD	Point-in-time

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