10-K Filing

PIONEER POWER SOLUTIONS, INC. CIK: 1449792 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001521536-12-000233`
Period End Date	20111231
Filing Date	20120330
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	ppsi-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 20 Cash Flow Statement 68

Balance Sheet 76 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$5.26M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$8.17M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$7.19M	USD	Point-in-time
Inventories	`InventoryNet`	$13.71M	USD	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
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.19M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$517.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$245.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$753.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	5.91M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$421.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	5.91M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$333.00K	USD	Point-in-time
Current assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$457.00K	USD	Point-in-time
Current assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$2.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.93M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentNet`	$4.59M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentNet`	$9.98M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$611.00K	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$679.00K	USD	Point-in-time
Note receivable	`NotesReceivableNet`	$300.00K	USD	Point-in-time
Note receivable	`NotesReceivableNet`	-	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$5.58M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$4.44M	USD	Point-in-time
Goodwill	`Goodwill`	$6.86M	USD	Point-in-time
Goodwill	`Goodwill`	$5.53M	USD	Point-in-time
Total assets	`Assets`	$48.84M	USD	Point-in-time
Total assets	`Assets`	$32.10M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$11.32M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$7.33M	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$8.87M	USD	Point-in-time
Current maturities of long-term debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$6.06M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$161.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$445.00K	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$824.00K	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$554.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.18M	USD	Point-in-time
Long-term debt and capital lease obligations, net of current maturities	`LongTermDebtAndCapitalLeaseObligations`	$17.00K	USD	Point-in-time
Long-term debt and capital lease obligations, net of current maturities	`LongTermDebtAndCapitalLeaseObligations`	$9.02M	USD	Point-in-time
Pension deficit	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$569.00K	USD	Point-in-time
Pension deficit	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$308.00K	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.30M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$2.31M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$34.07M	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; 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`	$7.79M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$7.54M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-305.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-823.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.79M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$14.77M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$9.61M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$15.09M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$48.84M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$32.10M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, Value	`StockholdersEquity`	$14.77M	USD	Point-in-time
Beginning balance, Value	`StockholdersEquity`	$9.61M	USD	Point-in-time
Beginning balance, Value	`StockholdersEquity`	$15.09M	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$2.95M	USD	Annual
Net earnings	`NetIncomeLoss`	$-60.00K	USD	Annual
Transaction costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$-108.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$254.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$161.00K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$-241.00K	USD	Annual
Foreign currency translation adjustment	`ForeignCurrencyTransactionGainLossUnrealized`	$436.00K	USD	Annual
Issuance of common stock and warrants, value	`StockIssuedDuringPeriodValueNewIssues`	$1.26M	USD	Annual
Warrants issued for consulting services to be rendered in the future	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedForServices`	$50.00K	USD	Annual
Warrants issued for acquisition	`AdjustmentsToAdditionalPaidInCapitalWarrantIssuedForAcquisition`	$790.00K	USD	Annual
Pension adjustment, net of taxes	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax`	$-277.00K	USD	Annual
Pension adjustment, net of taxes	`OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax`	$-50.00K	USD	Annual
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$-578.00K	USD	Annual
Total Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$3.33M	USD	Annual
Ending balance, Value	`StockholdersEquity`	$14.77M	USD	Point-in-time
Ending balance, Value	`StockholdersEquity`	$9.61M	USD	Point-in-time
Ending balance, Value	`StockholdersEquity`	$15.09M	USD	Point-in-time

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net earnings (loss)	`NetIncomeLoss`	$2.95M	USD	Annual
Net earnings (loss)	`NetIncomeLoss`	$-60.00K	USD	Annual
Depreciation	`Depreciation`	$620.00K	USD	Annual
Depreciation	`Depreciation`	$834.00K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$252.00K	USD	Annual
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$144.00K	USD	Annual
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-524.00K	USD	Annual
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-231.00K	USD	Annual
Accrued pension	`PensionAndOtherPostretirementBenefitExpense`	$-145.00K	USD	Annual
Accrued pension	`PensionAndOtherPostretirementBenefitExpense`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$254.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$161.00K	USD	Annual
Warrant issuance expense	`StockOptionPlanExpense`	-	USD	Annual
Warrant issuance expense	`StockOptionPlanExpense`	$92.00K	USD	Annual
Common stock issuance expense	`PaymentsOfStockIssuanceCosts`	$140.00K	USD	Annual
Common stock issuance expense	`PaymentsOfStockIssuanceCosts`	-	USD	Annual
Non-cash expense (income) from discontinued operations	`OtherNoncashIncomeExpense`	$1.81M	USD	Annual
Non-cash expense (income) from discontinued operations	`OtherNoncashIncomeExpense`	$-650.00K	USD	Annual
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-381.00K	USD	Annual
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$1.74M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$1.50M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-3.77M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$88.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-127.00K	USD	Annual
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.12M	USD	Annual
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-2.78M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.32M	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-39.00K	USD	Annual
Discontinued operations assets and liabilities, net	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-341.00K	USD	Annual
Discontinued operations assets and liabilities, net	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-62.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.60M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.31M	USD	Annual
Additions to property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-1.68M	USD	Annual
Additions to property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-1.36M	USD	Annual
Acquisition of subsidiaries and related assets, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$832.00K	USD	Annual
Acquisition of subsidiaries and related assets, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.83M	USD	Annual
Note receivable	`IncreaseDecreaseInNotesReceivables`	$300.00K	USD	Annual
Note receivable	`IncreaseDecreaseInNotesReceivables`	-	USD	Annual
Proceeds from sale of assets of discontinued operations	`ProceedsFromSaleOfOtherAssets`	-	USD	Annual
Proceeds from sale of assets of discontinued operations	`ProceedsFromSaleOfOtherAssets`	$202.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-9.49M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.31M	USD	Annual
Increase (decrease) in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$-531.00K	USD	Annual
Increase (decrease) in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	Annual
Increase (decrease) in revolving credit facilities	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$3.03M	USD	Annual
Increase (decrease) in revolving credit facilities	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-1.02M	USD	Annual
Increase in long-term debt	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-10.04M	USD	Annual
Increase in long-term debt	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	-	USD	Annual
Repayment of long-term debt and capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$768.00K	USD	Annual
Repayment of long-term debt and capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$3.79M	USD	Annual
Repayment of advances from limited partners of a shareholder	`RepaymentsOfRelatedPartyDebt`	-	USD	Annual
Repayment of advances from limited partners of a shareholder	`RepaymentsOfRelatedPartyDebt`	$150.00K	USD	Annual
Issuance of warrants	`ProceedsFromIssuanceOfWarrants`	$12.00K	USD	Annual
Issuance of warrants	`ProceedsFromIssuanceOfWarrants`	-	USD	Annual
Transaction costs	`BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed`	$-108.00K	USD	Annual
Transaction costs	`BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensed`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.76M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.04M	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$862.00K	USD	Annual
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.04M	USD	Annual
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$20.00K	USD	Annual
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.00K	USD	Annual
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
End of year	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	USD	Point-in-time
End of year	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time
End of year	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time

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