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10-Q Filing

PIONEER POWER SOLUTIONS, INC. CIK: 1449792 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001387131-18-002159
Period End Date 20180331
Filing Date 20180515
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance ppsi-20180331.xml
Filing Contents
Balance Sheet 81 line items
Line Item Tag Value Unit Period
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred stock, authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock, authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $268.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $246.00K USD Point-in-time
Preferred stock, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $218.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $235.00K USD Point-in-time
Preferred stock, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $13.43M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $13.54M USD Point-in-time
Common stock, authorized CommonStockSharesAuthorized 30.00M shares Point-in-time
Inventories, net InventoryNet $23.19M USD Point-in-time
Inventories, net InventoryNet $24.57M USD Point-in-time
Common stock, authorized CommonStockSharesAuthorized 30.00M shares Point-in-time
Common stock, issued CommonStockSharesIssued 8.73M shares Point-in-time
Income taxes receivable IncomeTaxesReceivable $876.00K USD Point-in-time
Common stock, issued CommonStockSharesIssued 8.73M shares Point-in-time
Income taxes receivable IncomeTaxesReceivable $743.00K USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 8.73M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $2.80M USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 8.73M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $3.12M USD Point-in-time
Current assets of discontinued operations AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $7.07M USD Point-in-time
Current assets of discontinued operations AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent $6.29M USD Point-in-time
Total current assets AssetsCurrent $47.46M USD Point-in-time
Total current assets AssetsCurrent $48.66M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $6.33M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $6.17M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $2.90M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $2.73M USD Point-in-time
Other assets OtherAssets $4.63M USD Point-in-time
Other assets OtherAssets $4.28M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $4.57M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $4.92M USD Point-in-time
Goodwill Goodwill $8.53M USD Point-in-time
Goodwill Goodwill $8.53M USD Point-in-time
Total assets Assets $74.25M USD Point-in-time
Total assets Assets $75.46M USD Point-in-time
Bank overdrafts BankOverdrafts $833.00K USD Point-in-time
Bank overdrafts BankOverdrafts $936.00K USD Point-in-time
Revolving credit facilities LineOfCredit $19.32M USD Point-in-time
Revolving credit facilities LineOfCredit $17.81M USD Point-in-time
Short term borrowings ShortTermBorrowings $3.38M USD Point-in-time
Short term borrowings ShortTermBorrowings $5.43M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $16.87M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $20.79M USD Point-in-time
Current maturities of long-term debt and capital lease obligations LongTermDebtAndCapitalLeaseObligationsCurrent $1.04M USD Point-in-time
Current maturities of long-term debt and capital lease obligations LongTermDebtAndCapitalLeaseObligationsCurrent $782.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.29M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $1.16M USD Point-in-time
Current liabilities of discontinued operations LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $2.38M USD Point-in-time
Current liabilities of discontinued operations LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent $3.86M USD Point-in-time
Total current liabilities LiabilitiesCurrent $46.75M USD Point-in-time
Total current liabilities LiabilitiesCurrent $49.14M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $4.15M USD Point-in-time
Long-term debt, net of current maturities LongTermDebtNoncurrent $3.82M USD Point-in-time
Pension deficit DefinedBenefitPensionPlanLiabilitiesNoncurrent $298.00K USD Point-in-time
Pension deficit DefinedBenefitPensionPlanLiabilitiesNoncurrent $283.00K USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $3.62M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $3.85M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $1.64M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $1.67M USD Point-in-time
Total liabilities Liabilities $58.52M USD Point-in-time
Total liabilities Liabilities $56.71M USD Point-in-time
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued PreferredStockValue - USD Point-in-time
Common stock, $0.001 par value, 30,000,000 shares authorized; 8,726,045 shares issued and outstanding on March 31, 2018 and December 31, 2017 CommonStockValue $9.00K USD Point-in-time
Common stock, $0.001 par value, 30,000,000 shares authorized; 8,726,045 shares issued and outstanding on March 31, 2018 and December 31, 2017 CommonStockValue $9.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $23.80M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $23.95M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.98M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-5.80M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.04M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-463.00K USD Point-in-time
Total stockholders' equity StockholdersEquity $17.55M USD Point-in-time
Total stockholders' equity StockholdersEquity $16.94M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $75.46M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $74.25M USD Point-in-time
Income Statement 47 line items
Line Item Tag Value Unit Period
Revenues Revenues $23.48M USD 1 Quarter
Revenues Revenues $25.06M USD 1 Quarter
Cost of goods sold CostOfGoodsSold $19.49M USD 1 Quarter
Cost of goods sold CostOfGoodsSold $19.05M USD 1 Quarter
Total cost of goods sold CostOfGoodsAndServicesSold $19.05M USD 1 Quarter
Total cost of goods sold CostOfGoodsAndServicesSold $19.49M USD 1 Quarter
Gross profit GrossProfit $4.43M USD 1 Quarter
Gross profit GrossProfit $5.57M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $4.34M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $4.20M USD 1 Quarter
Restructuring and integration RestructuringSettlementAndImpairmentProvisions $155.00K USD 1 Quarter
Foreign exchange loss (gain) ForeignCurrencyTransactionGainLossRealized $61.00K USD 1 Quarter
Foreign exchange loss (gain) ForeignCurrencyTransactionGainLossRealized $-74.00K USD 1 Quarter
Total operating expenses OperatingExpenses $4.27M USD 1 Quarter
Total operating expenses OperatingExpenses $4.43M USD 1 Quarter
Income from continuing operations OperatingIncomeLoss $1.13M USD 1 Quarter
Income from continuing operations OperatingIncomeLoss $156.00K USD 1 Quarter
Interest expense InterestAndDebtExpense $549.00K USD 1 Quarter
Interest expense InterestAndDebtExpense $649.00K USD 1 Quarter
Other expense OtherNonoperatingIncomeExpense $-98.00K USD 1 Quarter
Other expense OtherNonoperatingIncomeExpense $-116.00K USD 1 Quarter
(Loss) income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $486.00K USD 1 Quarter
(Loss) income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $-609.00K USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $280.00K USD 1 Quarter
Income tax (benefit) expense IncomeTaxExpenseBenefit $-28.00K USD 1 Quarter
Net (loss) income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $-581.00K USD 1 Quarter
Net (loss) income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $206.00K USD 1 Quarter
Income (loss) from discontinued operations, net of income taxes IncomeLossFromDiscontinuedOperationsNetOfTax $-97.00K USD 1 Quarter
Income (loss) from discontinued operations, net of income taxes IncomeLossFromDiscontinuedOperationsNetOfTax $7.00K USD 1 Quarter
Net (loss) income NetIncomeLoss $-574.00K USD 1 Quarter
Net (loss) income NetIncomeLoss $109.00K USD 1 Quarter
(Loss) income from continuing operations IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $0.02 USD 1 Quarter
(Loss) income from continuing operations IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $-0.07 USD 1 Quarter
Loss from discontinued operations DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare $-0.01 USD 1 Quarter
Loss from discontinued operations DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicAndDilutedShare - USD 1 Quarter
Net (loss) income EarningsPerShareBasicAndDiluted $0.01 USD 1 Quarter
Net (loss) income EarningsPerShareBasicAndDiluted $-0.07 USD 1 Quarter
(Loss) income from continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.02 USD 1 Quarter
(Loss) income from continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $-0.07 USD 1 Quarter
Loss from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $-0.01 USD 1 Quarter
Loss from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare - USD 1 Quarter
Net (loss) income EarningsPerShareDiluted $0.01 USD 1 Quarter
Net (loss) income EarningsPerShareDiluted $-0.07 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 8.70M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 8.73M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 8.74M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 8.73M shares 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net (loss) income NetIncomeLoss $-574.00K USD 1 Quarter
Net (loss) income NetIncomeLoss $109.00K USD 1 Quarter
Depreciation Depreciation $310.00K USD 1 Quarter
Depreciation Depreciation $307.00K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $414.00K USD 1 Quarter
Amortization of intangible assets AmortizationOfIntangibleAssets $383.00K USD 1 Quarter
Amortization of right-of-use assets OtherAmortizationOfDeferredCharges $117.00K USD 1 Quarter
Amortization of right-of-use assets OtherAmortizationOfDeferredCharges $136.00K USD 1 Quarter
Amortization of debt issuance cost DeferredIncomeTaxExpenseBenefit $74.00K USD 1 Quarter
Amortization of debt issuance cost DeferredIncomeTaxExpenseBenefit $21.00K USD 1 Quarter
Deferred income tax (benefit) expense InventoryWriteDown $-193.00K USD 1 Quarter
Deferred income tax (benefit) expense InventoryWriteDown $180.00K USD 1 Quarter
Change in receivable reserves ProvisionForDoubtfulAccounts $-156.00K USD 1 Quarter
Change in receivable reserves ProvisionForDoubtfulAccounts $44.00K USD 1 Quarter
Change in inventory reserves InventoryLIFOReservePeriodCharge $13.00K USD 1 Quarter
Change in inventory reserves InventoryLIFOReservePeriodCharge $17.00K USD 1 Quarter
Accrued pension PensionAndOtherPostretirementBenefitExpense $8.00K USD 1 Quarter
Accrued pension PensionAndOtherPostretirementBenefitExpense $-16.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $30.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $148.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $4.00K USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $12.00K USD 1 Quarter
Foreign currency remeasurement gain ForeignCurrencyTransactionGainLossBeforeTax $-1.00K USD 1 Quarter
Foreign currency remeasurement gain ForeignCurrencyTransactionGainLossBeforeTax $-36.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-210.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-1.12M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.30M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $3.62M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-308.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $906.00K USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $1.00K USD 1 Quarter
Income taxes IncreaseDecreaseInAccruedIncomeTaxesPayable $-561.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $2.53M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $2.90M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.06M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.06M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $496.00K USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $152.00K USD 1 Quarter
Proceeds from sale of fixed assets ProceedsFromSaleOfPropertyPlantAndEquipment $5.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-152.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-491.00K USD 1 Quarter
Bank overdrafts ProceedsFromRepaymentsOfBankOverdrafts $-241.00K USD 1 Quarter
Bank overdrafts ProceedsFromRepaymentsOfBankOverdrafts $-160.00K USD 1 Quarter
Short term borrowings ProceedsFromShortTermDebt $-2.04M USD 1 Quarter
Short term borrowings ProceedsFromShortTermDebt $-164.00K USD 1 Quarter
Borrowing under debt agreement ProceedsFromIssuanceOfLongTermDebt $11.39M USD 1 Quarter
Borrowing under debt agreement ProceedsFromIssuanceOfLongTermDebt $11.35M USD 1 Quarter
Repayment of debt RepaymentsOfDebt $9.88M USD 1 Quarter
Repayment of debt RepaymentsOfDebt $11.44M USD 1 Quarter
Payment of debt issuance cost PaymentsOfDebtIssuanceCosts $52.00K USD 1 Quarter
Payment of debt issuance cost PaymentsOfDebtIssuanceCosts $-6.00K USD 1 Quarter
Net proceeds from the exercise of options for common stock ProceedsFromIssuanceOfCommonStock $59.00K USD 1 Quarter
Principal repayments of financing leases SaleLeasebackTransactionTransactionCostsFinancingActivities $82.00K USD 1 Quarter
Principal repayments of financing leases SaleLeasebackTransactionTransactionCostsFinancingActivities $124.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-526.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-857.00K USD 1 Quarter
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $43.00K USD 1 Quarter
Increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $47.00K USD 1 Quarter
Effect of foreign exchange on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-54.00K USD 1 Quarter
Effect of foreign exchange on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $3.00K USD 1 Quarter
Beginning of period CashAndCashEquivalentsAtCarryingValue $268.00K USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $246.00K USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $218.00K USD Point-in-time
Beginning of period CashAndCashEquivalentsAtCarryingValue $235.00K USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $268.00K USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $246.00K USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $218.00K USD Point-in-time
End of period CashAndCashEquivalentsAtCarryingValue $235.00K USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net (loss) income NetIncomeLoss $-574.00K USD 1 Quarter
Net (loss) income NetIncomeLoss $109.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $63.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-166.00K USD 1 Quarter
Amortization of net prior service costs and net actuarial (losses)/gains, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $15.00K USD 1 Quarter
Amortization of net prior service costs and net actuarial (losses)/gains, net of tax OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-26.00K USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $89.00K USD 1 Quarter
Other comprehensive (loss) income OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-181.00K USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $-755.00K USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $198.00K USD 1 Quarter

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

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