10-Q Filing

SWISHER HYGIENE INC. CIK: 1504747 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001354488-14-002465`
Period End Date	20140331
Filing Date	20140512
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	swsh-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 38 Cash Flow Statement 52

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.59M	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.46M	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.42M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$3.63M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$3.56M	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
Accounts receivable (net of allowance for doubtful accounts of approximately $1.6 million at March 31, 2014 and $2.0 million at December 31, 2013)	`AccountsReceivableNetCurrent`	$19.52M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of approximately $1.6 million at March 31, 2014 and $2.0 million at December 31, 2013)	`AccountsReceivableNetCurrent`	$21.01M	USD	Point-in-time
Inventory	`InventoryNet`	$14.15M	USD	Point-in-time
Inventory	`InventoryNet`	$14.03M	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$935.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$101.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$4.52M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$1.64M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$5.78M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$4.95M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$61.53M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$71.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	175.77M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	175.79M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$2.04M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$2.12M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$42.30M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	175.77M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	175.79M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$43.84M	USD	Point-in-time
Goodwill	`Goodwill`	$5.82M	USD	Point-in-time
Goodwill	`Goodwill`	$5.82M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$8.44M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$8.02M	USD	Point-in-time
Customer relationships and contracts, net	`CustomerRelationshipsAndContractsNet`	$27.09M	USD	Point-in-time
Customer relationships and contracts, net	`CustomerRelationshipsAndContractsNet`	$28.57M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.62M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.48M	USD	Point-in-time
Total assets	`Assets`	$161.72M	USD	Point-in-time
Total assets	`Assets`	$148.29M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.64M	USD	Point-in-time
Accrued expense	`AccruedLiabilitiesCurrentAndNoncurrent`	$11.95M	USD	Point-in-time
Accrued expense	`AccruedLiabilitiesCurrentAndNoncurrent`	$12.00M	USD	Point-in-time
Long-term debt and obligations due within one year	`ShortTermBorrowings`	$5.25M	USD	Point-in-time
Long-term debt and obligations due within one year	`ShortTermBorrowings`	$4.31M	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$2.13M	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$144.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$29.10M	USD	Point-in-time
Long-term debt and obligations	`LongTermDebtNoncurrent`	$1.76M	USD	Point-in-time
Long-term debt and obligations	`LongTermDebtNoncurrent`	$2.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$224.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$1.05M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.35M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$3.33M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$6.40M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$5.32M	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, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001, authorized 10,000,000 shares; no shares issued and outstanding at March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001, authorized 600,000,000 shares; 175,789,166 and 175,773,229 shares issued and outstanding at March 31, 2014 and December 31, 2013	`CommonStockValue`	$176.00K	USD	Point-in-time
Common stock, par value $0.001, authorized 600,000,000 shares; 175,789,166 and 175,773,229 shares issued and outstanding at March 31, 2014 and December 31, 2013	`CommonStockValue`	$176.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$388.59M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$388.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-260.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-274.35M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-529.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-544.00K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$127.19M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$113.87M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$148.29M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$161.72M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$46.04M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$43.24M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$4.69M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$5.74M	USD	1 Quarter
Franchise and other	`FranchiseRevenue`	$360.00K	USD	1 Quarter
Franchise and other	`FranchiseRevenue`	$241.00K	USD	1 Quarter
Total revenue	`Revenues`	$48.30M	USD	1 Quarter
Total revenue	`Revenues`	$52.02M	USD	1 Quarter
Cost of sales (exclusive of route expenses and related depreciation and amortization)	`CostOfGoodsAndServicesSold`	$21.81M	USD	1 Quarter
Cost of sales (exclusive of route expenses and related depreciation and amortization)	`CostOfGoodsAndServicesSold`	$22.57M	USD	1 Quarter
Route expenses	`RouteExpenses`	$12.61M	USD	1 Quarter
Route expenses	`RouteExpenses`	$11.76M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$20.37M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$27.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.65M	USD	1 Quarter
Impairment loss on assets held for sale	`ImpairmentRelatedToAssetsHeldForSale`	-	USD	1 Quarter
Impairment loss on assets held for sale	`ImpairmentRelatedToAssetsHeldForSale`	$2.03M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$61.33M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$68.76M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-16.74M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-13.04M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-71.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-717.00K	USD	1 Quarter
Net loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.76M	USD	1 Quarter
Net loss from operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-16.81M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-427.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-37.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.24M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.79M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$1.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-15.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-17.24M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.81M	USD	1 Quarter
Basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.10	USD	1 Quarter
Basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.08	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesIssuedBasic`	175.16M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesIssuedBasic`	176.88M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`IncomeLossFromContinuingOperations`	$-17.24M	USD	1 Quarter
Net loss	`IncomeLossFromContinuingOperations`	$-13.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.36M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.65M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$241.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$117.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$754.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$496.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$427.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.00K	USD	1 Quarter
Impairment loss on assets held for sale	`ImpairmentRelatedToAssetsHeldForSale`	-	USD	1 Quarter
Impairment loss on assets held for sale	`ImpairmentRelatedToAssetsHeldForSale`	$2.03M	USD	1 Quarter
Loss on the sale of assets held for sale	`GainOnSaleOfAssets`	$-605.00K	USD	1 Quarter
Loss on the sale of assets held for sale	`GainOnSaleOfAssets`	-	USD	1 Quarter
Other	`Other`	$-24.00K	USD	1 Quarter
Other	`Other`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.25M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.29M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-123.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-518.00K	USD	1 Quarter
Accounts payable, accrued expenses, and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.39M	USD	1 Quarter
Accounts payable, accrued expenses, and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.59M	USD	1 Quarter
Other assets and noncurrent assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$633.00K	USD	1 Quarter
Other assets and noncurrent assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.04M	USD	1 Quarter
Net cash provided by (used in) operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivities`	$724.00K	USD	1 Quarter
Net cash provided by (used in) operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivities`	$-3.50M	USD	1 Quarter
Net cash used in operating activities of discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-1.99M	USD	1 Quarter
Net cash used in operating activities of discontinued operations	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-796.00K	USD	1 Quarter
Cash used in operating activities	`CashUsedInOperatingActivities`	$-1.26M	USD	1 Quarter
Cash used in operating activities	`CashUsedInOperatingActivities`	$-4.30M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.95M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.91M	USD	1 Quarter
Cash received from the sale of assets held for sale	`CashReceivedForSaleOfAssetsHeldForSale`	$462.00K	USD	1 Quarter
Cash received from the sale of assets held for sale	`CashReceivedForSaleOfAssetsHeldForSale`	-	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$100.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Cash used in investing activities	`CashUsedInInvestingActivities`	$-4.01M	USD	1 Quarter
Cash used in investing activities	`CashUsedInInvestingActivities`	$-1.49M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfShortTermDebt`	$1.18M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfShortTermDebt`	$2.53M	USD	1 Quarter
Cash used in financing activities	`CashUsedInFinancingActivities`	$-1.18M	USD	1 Quarter
Cash used in financing activities	`CashUsedInFinancingActivities`	$-2.53M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.83M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.93M	USD	1 Quarter
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`	$17.53M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$21.46M	USD	Point-in-time
Cash and cash equivalents at the beginning 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`	$17.53M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$21.46M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$61.42M	USD	Point-in-time

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