10-Q/A Filing

PIONEER POWER SOLUTIONS, INC. CIK: 1449792 Q2 2011

Filing Information

Form Type	10-Q/A
Accession Number	`0001521536-11-000243`
Period End Date	20110630
Filing Date	20110914
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	ppsi-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 12 Cash Flow Statement 59

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`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`	$134.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$5.60M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$5.36M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$7.81M	USD	Point-in-time
Inventories	`InventoryNet`	$9.15M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.13M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.19M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$245.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$245.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$575.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.03M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	5.91M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	5.91M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$31.25M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.70M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentNet`	$5.28M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentNet`	$5.12M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.52M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$1.31M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$4.44M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$4.33M	USD	Point-in-time
Goodwill	`Goodwill`	$5.53M	USD	Point-in-time
Goodwill	`Goodwill`	$5.53M	USD	Point-in-time
Total assets	`Assets`	$32.10M	USD	Point-in-time
Total assets	`Assets`	$47.92M	USD	Point-in-time
Bank overdrafts	`BankOverdrafts`	$1.46M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$8.34M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.44M	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$6.06M	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$8.15M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$166.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$161.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.67M	USD	Point-in-time
Long-term debt and capital lease obligations, net of current maturities	`LongTermDebtAndCapitalLeaseObligations`	$9.91M	USD	Point-in-time
Long-term debt and capital lease obligations, net of current maturities	`LongTermDebtAndCapitalLeaseObligations`	$17.00K	USD	Point-in-time
Pension deficit	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$308.00K	USD	Point-in-time
Pension deficit	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$308.00K	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.25M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.32M	USD	Point-in-time
Deferred credit	`DeferredCreditsAndOtherLiabilitiesNoncurrent`	$700.00K	USD	Point-in-time
Deferred credit	`DeferredCreditsAndOtherLiabilitiesNoncurrent`	$700.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$31.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.01M	USD	Point-in-time
Common stock, par value $0.001; 30,000,000 shares authorized; 5,907,255 shares issued and outstanding	`CommonStockValue`	$6.00K	USD	Point-in-time
Common stock, par value $0.001; 30,000,000 shares authorized; 5,907,255 shares issued and outstanding	`CommonStockValue`	$6.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.67M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-78.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-305.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.85M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$16.63M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$15.09M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$47.92M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$32.10M	USD	Point-in-time

Income Statement 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, Value	`StockholdersEquity`	$16.63M	USD	Point-in-time
Beginning balance, Value	`StockholdersEquity`	$15.09M	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.19M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.76M	USD	2 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$126.00K	USD	2 Qtrs
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$253.00K	USD	2 Qtrs
Pension adjustment, net of taxes	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax`	$-26.00K	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.42M	USD	2 Qtrs
Ending balance, Value	`StockholdersEquity`	$16.63M	USD	Point-in-time
Ending balance, Value	`StockholdersEquity`	$15.09M	USD	Point-in-time

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$1.37M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.19M	USD	2 Qtrs
Net earnings	`NetIncomeLoss`	$226.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.76M	USD	2 Qtrs
Depreciation	`Depreciation`	$232.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$338.00K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$108.00K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$34.00K	USD	2 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-124.00K	USD	2 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-281.00K	USD	2 Qtrs
Accrued pension	`PensionAndOtherPostretirementBenefitExpense`	$-36.00K	USD	2 Qtrs
Accrued pension	`PensionAndOtherPostretirementBenefitExpense`	$-68.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$47.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$126.00K	USD	2 Qtrs
Warrant issuance expense	`StockOptionPlanExpense`	$92.00K	USD	2 Qtrs
Common stock issuance expense	`PaymentsOfStockIssuanceCosts`	$140.00K	USD	2 Qtrs
Gain on bargain purchase	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$-1.05M	USD	1 Quarter
Gain on bargain purchase	`BusinessCombinationBargainPurchaseGainRecognizedAmount`	$-1.05M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$461.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-152.00K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-1.18M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$494.00K	USD	2 Qtrs
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-207.00K	USD	2 Qtrs
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-452.00K	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$97.00K	USD	2 Qtrs
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-1.48M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.28M	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$801.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.62M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$558.00K	USD	2 Qtrs
Additions to property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-673.00K	USD	2 Qtrs
Additions to property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-422.00K	USD	2 Qtrs
Acquisition of subsidiaries, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$399.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.07M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-422.00K	USD	2 Qtrs
Increase (decrease) in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$673.00K	USD	2 Qtrs
Increase (decrease) in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$1.44M	USD	2 Qtrs
Increase (decrease) in long-term debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$10.27M	USD	2 Qtrs
Increase (decrease) in revolving credit facilities	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-2.01M	USD	2 Qtrs
Increase (decrease) in revolving credit facilities	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$2.09M	USD	2 Qtrs
Repayment of long-term debt and capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$304.00K	USD	2 Qtrs
Repayment of long-term debt and capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$340.00K	USD	2 Qtrs
Repayment of advances from limited partners of a shareholder	`RepaymentsOfRelatedPartyDebt`	$150.00K	USD	2 Qtrs
Issuance of warrants	`ProceedsFromIssuanceOfWarrants`	$12.00K	USD	2 Qtrs
Transaction costs	`BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed`	$-108.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$13.38M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.97M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.42M	USD	2 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.52M	USD	2 Qtrs
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-6.00K	USD	2 Qtrs
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$66.00K	USD	2 Qtrs
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$134.00K	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.10M	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$134.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$14.10M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time

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