10-Q Filing

PIONEER POWER SOLUTIONS, INC. CIK: 1449792 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001449792-14-000011`
Period End Date	20140331
Filing Date	20140515
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ppsi-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 32 Cash Flow Statement 49 Comprehensive Income 10

Balance Sheet 74 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`	$425.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$467.00K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$196.00K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$12.37M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.74M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$13.39M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$12.64M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	7.17M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	7.17M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$65.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$62.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$1.98M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	7.17M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	7.17M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.19M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.37M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.29M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.14M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$29.39M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentNet`	$11.80M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentNet`	$12.21M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.09M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.07M	USD	Point-in-time
Other assets	`OtherAssets`	$1.18M	USD	Point-in-time
Other assets	`OtherAssets`	$1.13M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.16M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.29M	USD	Point-in-time
Goodwill	`Goodwill`	$7.95M	USD	Point-in-time
Goodwill	`Goodwill`	$8.00M	USD	Point-in-time
Total assets	`Assets`	$56.54M	USD	Point-in-time
Total assets	`Assets`	$53.86M	USD	Point-in-time
Bank overdrafts	`BankOverdrafts`	$1.62M	USD	Point-in-time
Revolving credit facilities	`LineOfCreditFacilityAmountOutstanding`	$795.00K	USD	Point-in-time
Revolving credit facilities	`LineOfCreditFacilityAmountOutstanding`	$1.61M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.37M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$10.02M	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.11M	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$2.11M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$1.07M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$490.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.35M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$6.52M	USD	Point-in-time
Long-term debt, net of current maturities	`LongTermDebtNoncurrent`	$7.21M	USD	Point-in-time
Pension deficit	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$107.00K	USD	Point-in-time
Pension deficit	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$213.00K	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.25M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$23.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.74M	USD	Point-in-time
Preferred stock, par value $0.001; 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 5,000,000 shares authorized; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001; 30,000,000 shares authorized; 7,172,255 shares issued and outstanding	`CommonStockValue`	$7.00K	USD	Point-in-time
Common stock, par value $0.001; 30,000,000 shares authorized; 7,172,255 shares issued and outstanding	`CommonStockValue`	$7.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.43M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.64M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.05M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$30.81M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$30.79M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$53.86M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$56.54M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$20.89M	USD	1 Quarter
Revenues	`Revenues`	$22.55M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$15.97M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$17.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.08M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.92M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.52M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.97M	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossRealized`	$-61.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossRealized`	$44.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.92M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.50M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$995.00K	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$136.00K	USD	1 Quarter
Interest expense	`InterestAndDebtExpense`	$185.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-2.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-93.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$857.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.22M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$308.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$267.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$590.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$913.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.15	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.15	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5.91M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	7.17M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.92M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.25M	shares	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$590.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$913.00K	USD	1 Quarter
Depreciation	`Depreciation`	$288.00K	USD	1 Quarter
Depreciation	`Depreciation`	$325.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$79.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$71.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-195.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-237.00K	USD	1 Quarter
Accrued pension	`PensionAndOtherPostretirementBenefitExpense`	$-72.00K	USD	1 Quarter
Accrued pension	`PensionAndOtherPostretirementBenefitExpense`	$-98.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$36.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$78.00K	USD	1 Quarter
Foreign currency remeasurement gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$117.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.88M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.43M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$110.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.02M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$521.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$64.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-540.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-545.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-79.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.78M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.60M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.15M	USD	1 Quarter
Additions to property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-240.00K	USD	1 Quarter
Additions to property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-1.16M	USD	1 Quarter
Business acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$655.00K	USD	1 Quarter
Note receivable	`IncreaseDecreaseInNotesReceivables`	$83.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-323.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.82M	USD	1 Quarter
Increase in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$1.62M	USD	1 Quarter
Increase in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$1.16M	USD	1 Quarter
Increase in revolving credit facilities	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$734.00K	USD	1 Quarter
Increase in revolving credit facilities	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$2.56M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfDebt`	$413.00K	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfDebt`	$541.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.17M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.94M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-533.00K	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-244.00K	USD	1 Quarter
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$108.00K	USD	1 Quarter
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-27.00K	USD	1 Quarter
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$425.00K	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$467.00K	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$196.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$425.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$467.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$196.00K	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$590.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$913.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-676.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-134.00K	USD	1 Quarter
Amortization of net prior service costs and net actuarial losses	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-53.00K	USD	1 Quarter
Amortization of net prior service costs and net actuarial losses	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-63.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-613.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-81.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-23.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$832.00K	USD	1 Quarter

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