10-Q Filing

SWISHER HYGIENE INC. CIK: 1504747 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001354488-15-002270`
Period End Date	20150331
Filing Date	20150511
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	swsh-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 38 Cash Flow Statement 58

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
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`	$1.00B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time
Net of allowance for doubtful accounts, accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$900.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$231.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$231.00K	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 $0.9 million at March 31, 2015 and $1.0 million at December 31, 2014)	`AccountsReceivableNetCurrent`	$17.40M	USD	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of approximately $0.9 million at March 31, 2015 and $1.0 million at December 31, 2014)	`AccountsReceivableNetCurrent`	$18.75M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	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, net	`InventoryNet`	$13.12M	USD	Point-in-time
Inventory, net	`InventoryNet`	$15.43M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$534.00K	USD	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`	$520.00K	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	-	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$3.08M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	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`	$2.52M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$3.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$41.86M	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`	$44.70M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$37.04M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.62M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.61M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$33.89M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.61M	shares	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$6.65M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$5.98M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.62M	shares	Point-in-time
Customer relationships and contracts, net	`CustomerRelationshipsAndContractsNet`	$22.79M	USD	Point-in-time
Customer relationships and contracts, net	`CustomerRelationshipsAndContractsNet`	$20.95M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$1.91M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$2.02M	USD	Point-in-time
Total assets	`Assets`	$104.58M	USD	Point-in-time
Total assets	`Assets`	$113.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.79M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$4.18M	USD	Point-in-time
Accrued payroll and benefits	`EmployeeRelatedLiabilitiesCurrent`	$3.47M	USD	Point-in-time
Accrued expense	`AccruedLiabilitiesCurrentAndNoncurrent`	$7.12M	USD	Point-in-time
Accrued expense	`AccruedLiabilitiesCurrentAndNoncurrent`	$7.50M	USD	Point-in-time
Long-term debt and obligations due within one year	`ShortTermBorrowings`	$1.88M	USD	Point-in-time
Long-term debt and obligations due within one year	`ShortTermBorrowings`	$2.62M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$3.25M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$26.34M	USD	Point-in-time
Long-term debt and obligations	`LongTermDebtNoncurrent`	$1.07M	USD	Point-in-time
Long-term debt and obligations	`LongTermDebtNoncurrent`	$1.19M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$563.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilities`	$558.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.07M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$4.07M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$5.81M	USD	Point-in-time
Total noncurrent liabilities	`LiabilitiesNoncurrent`	$5.70M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.001, authorized 600,000,000 shares; 17,617,379 shares and 17,612,278 shares issued and outstanding at March 31, 2015 and December 31, 2014 (1)	`CommonStockValue`	$18.00K	USD	Point-in-time
Common stock, par value $0.001, authorized 600,000,000 shares; 17,617,379 shares and 17,612,278 shares issued and outstanding at March 31, 2015 and December 31, 2014 (1)	`CommonStockValue`	$18.00K	USD	Point-in-time
Additional paid-in capital (1)	`AdditionalPaidInCapitalCommonStock`	$390.05M	USD	Point-in-time
Additional paid-in capital (1)	`AdditionalPaidInCapitalCommonStock`	$389.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-316.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-307.36M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.31M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.33M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$72.54M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$81.29M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$113.20M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$104.58M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$39.26M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$43.24M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$4.69M	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$4.33M	USD	1 Quarter
Franchise and other	`FranchiseRevenue`	$250.00K	USD	1 Quarter
Franchise and other	`FranchiseRevenue`	$360.00K	USD	1 Quarter
Total revenue	`Revenues`	$43.84M	USD	1 Quarter
Total revenue	`Revenues`	$48.30M	USD	1 Quarter
Cost of sales (exclusive of route expenses and related depreciation and amortization)	`CostOfGoodsAndServicesSold`	$19.96M	USD	1 Quarter
Cost of sales (exclusive of route expenses and related depreciation and amortization)	`CostOfGoodsAndServicesSold`	$21.81M	USD	1 Quarter
Route expenses	`RouteExpenses`	$12.36M	USD	1 Quarter
Route expenses	`RouteExpenses`	$11.69M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$19.77M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$16.51M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.36M	USD	1 Quarter
Impairment loss on assets held for sale	`ImpairmentRelatedToAssetsHeldForSale`	$2.03M	USD	1 Quarter
Impairment loss on assets held for sale	`ImpairmentRelatedToAssetsHeldForSale`	-	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$52.76M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$61.33M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-13.04M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.92M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-717.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$114.00K	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-13.76M	USD	1 Quarter
Net loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.80M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-28.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-37.00K	USD	1 Quarter
Net loss from operations	`NetIncomeLoss`	$-8.83M	USD	1 Quarter
Net loss from operations	`NetIncomeLoss`	$-13.79M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-15.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-26.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.81M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-8.86M	USD	1 Quarter
Basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.78	USD	1 Quarter
Basic and diluted	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.50	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesIssuedBasic`	17.75M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesIssuedBasic`	17.69M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.83M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.79M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.36M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$241.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$247.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$109.00K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$496.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$19.00K	USD	1 Quarter
Impairment loss on assets held for sale	`ImpairmentRelatedToAssetsHeldForSale`	$2.03M	USD	1 Quarter
Impairment loss on assets held for sale	`ImpairmentRelatedToAssetsHeldForSale`	-	USD	1 Quarter
Loss on sale of assets held for sale	`GainOnSaleOfAssets`	-	USD	1 Quarter
Loss on sale of assets held for sale	`GainOnSaleOfAssets`	$-605.00K	USD	1 Quarter
(Gain) loss on sale of assets	`GainsLossesOnSalesOfAssets`	$-24.00K	USD	1 Quarter
(Gain) loss on sale of assets	`GainsLossesOnSalesOfAssets`	$287.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-751.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.25M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-2.31M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$123.00K	USD	1 Quarter
Accounts payable, accrued expense and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-3.77M	USD	1 Quarter
Accounts payable, accrued expense and other current liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.59M	USD	1 Quarter
Other assets and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.04M	USD	1 Quarter
Other assets and non-current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.08M	USD	1 Quarter
Net cash (used in) provided by operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-5.94M	USD	1 Quarter
Net cash (used in) provided by operating activities of continuing operations	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$724.00K	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`	-	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.94M	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.26M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.72M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.95M	USD	1 Quarter
Cash received on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$347.00K	USD	1 Quarter
Cash received on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Cash received on sale of assets held for sale	`CashReceivedForSaleOfAssetsHeldForSale`	-	USD	1 Quarter
Cash received on sale of assets held for sale	`CashReceivedForSaleOfAssetsHeldForSale`	$462.00K	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.49M	USD	1 Quarter
Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.37M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfShortTermDebt`	$1.01M	USD	1 Quarter
Principal payments on debt	`RepaymentsOfShortTermDebt`	$1.18M	USD	1 Quarter
Proceeds from debt issuances	`ProceedsFromIssuanceOfDebt`	-	USD	1 Quarter
Proceeds from debt issuances	`ProceedsFromIssuanceOfDebt`	$1.62M	USD	1 Quarter
Proceeds from line of credit, net of issuance costs	`ProceedsFromStockOptionsExercised`	-	USD	1 Quarter
Proceeds from line of credit, net of issuance costs	`ProceedsFromStockOptionsExercised`	$3.25M	USD	1 Quarter
Proceeds from capital lease	`ProceedsFromLongTermCapitalLeaseObligations`	-	USD	1 Quarter
Proceeds from capital lease	`ProceedsFromLongTermCapitalLeaseObligations`	$10.00K	USD	1 Quarter
Cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.18M	USD	1 Quarter
Cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.87M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.93M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.44M	USD	1 Quarter
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`	$7.23M	USD	Point-in-time
Cash and cash equivalents at the beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	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`	$7.23M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$3.80M	USD	Point-in-time

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