10-Q Filing

PIONEER POWER SOLUTIONS, INC. CIK: 1449792 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001521536-12-000394`
Period End Date	20120331
Filing Date	20120515
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	ppsi-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 40 Cash Flow Statement 54 Comprehensive Income 10

Balance Sheet 78 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`	$140.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$8.17M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$9.12M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	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
Inventories	`InventoryNet`	$14.94M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$175.00K	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$517.00K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	30.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$601.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	5.91M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$753.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$645.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	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
Current assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$457.00K	USD	Point-in-time
Current assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$268.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.43M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentNet`	$9.98M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentNet`	$9.90M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$679.00K	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$957.00K	USD	Point-in-time
Notes receivable	`NotesReceivableNet`	$300.00K	USD	Point-in-time
Notes receivable	`NotesReceivableNet`	$600.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$5.58M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$5.54M	USD	Point-in-time
Goodwill	`Goodwill`	$6.89M	USD	Point-in-time
Goodwill	`Goodwill`	$6.86M	USD	Point-in-time
Total assets	`Assets`	$49.64M	USD	Point-in-time
Total assets	`Assets`	$48.84M	USD	Point-in-time
Bank overdrafts	`BankOverdrafts`	$1.07M	USD	Point-in-time
Bank overdrafts	`BankOverdrafts`	-	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$10.21M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$11.32M	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`	$9.15M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$445.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$357.00K	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$430.00K	USD	Point-in-time
Current liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$554.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.23M	USD	Point-in-time
Long-term debt and capital lease obligations, net of current maturities	`LongTermDebtAndCapitalLeaseObligations`	$9.02M	USD	Point-in-time
Long-term debt and capital lease obligations, net of current maturities	`LongTermDebtAndCapitalLeaseObligations`	$8.85M	USD	Point-in-time
Pension deficit	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$510.00K	USD	Point-in-time
Pension deficit	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$569.00K	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.28M	USD	Point-in-time
Noncurrent deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$3.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.87M	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`	$7.86M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-823.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-640.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.79M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$15.77M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$14.77M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$48.84M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$49.64M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$15.73M	USD	1 Quarter
Revenues	`Revenues`	$20.32M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$11.40M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$15.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.59M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.32M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.24M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.59M	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$72.00K	USD	1 Quarter
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$17.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.17M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.57M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.75M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$1.42M	USD	1 Quarter
Interest and bank charges	`InterestAndDebtExpense`	$213.00K	USD	1 Quarter
Interest and bank charges	`InterestAndDebtExpense`	$122.00K	USD	1 Quarter
Other expense (income)	`OtherNonoperatingIncomeExpense`	$29.00K	USD	1 Quarter
Other expense (income)	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Earnings from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.18M	USD	1 Quarter
Earnings from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.63M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$339.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$463.00K	USD	1 Quarter
Earnings from continuing operations	`IncomeLossFromContinuingOperations`	$839.00K	USD	1 Quarter
Earnings from continuing operations	`IncomeLossFromContinuingOperations`	$1.17M	USD	1 Quarter
Earnings (loss) from discontinued operations, net of income taxes	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$-202.00K	USD	1 Quarter
Earnings (loss) from discontinued operations, net of income taxes	`DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax`	$-83.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$963.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$756.00K	USD	1 Quarter
Basic	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.20	USD	1 Quarter
Basic	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.14	USD	1 Quarter
Diluted	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.20	USD	1 Quarter
Diluted	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.14	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.13	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.13	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5,907.00	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	5,907.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5,950.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	5,907.00	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$963.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$756.00K	USD	1 Quarter
Depreciation	`Depreciation`	$297.00K	USD	1 Quarter
Depreciation	`Depreciation`	$166.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$53.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$71.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-114.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$-159.00K	USD	1 Quarter
Accrued pension	`PensionAndOtherPostretirementBenefitExpense`	$-14.00K	USD	1 Quarter
Accrued pension	`PensionAndOtherPostretirementBenefitExpense`	$-5.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$65.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$61.00K	USD	1 Quarter
Restructuring and asset impairment charges, discontinued operations	`OtherNoncashIncomeExpense`	$49.00K	USD	1 Quarter
Restructuring and asset impairment charges, discontinued operations	`OtherNoncashIncomeExpense`	-	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-2.03M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-848.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.51M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.05M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-220.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-35.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$257.00K	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-118.00K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.22M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.53M	USD	1 Quarter
Discontinued operations assets and liabilities, net	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$14.00K	USD	1 Quarter
Discontinued operations assets and liabilities, net	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$18.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.02M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.00M	USD	1 Quarter
Additions to property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-117.00K	USD	1 Quarter
Additions to property, plant and equipment	`PropertyPlantAndEquipmentAdditions`	$-104.00K	USD	1 Quarter
Note receivable	`IncreaseDecreaseInNotesReceivables`	-	USD	1 Quarter
Note receivable	`IncreaseDecreaseInNotesReceivables`	$300.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-117.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-404.00K	USD	1 Quarter
Increase (decrease) in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$1.07M	USD	1 Quarter
Increase (decrease) in bank overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	1 Quarter
Increase (decrease) in revolving credit facilities	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$795.00K	USD	1 Quarter
Increase (decrease) in revolving credit facilities	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$934.00K	USD	1 Quarter
Repayment of long-term debt and capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$870.00K	USD	1 Quarter
Repayment of long-term debt and capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$169.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$765.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$994.00K	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-373.00K	USD	1 Quarter
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.42M	USD	1 Quarter
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.00K	USD	1 Quarter
Effect of foreign exchange on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$17.00K	USD	1 Quarter
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$140.00K	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	USD	Point-in-time
Beginning of year	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$140.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$516.00K	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$1.40M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$963.00K	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$756.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$127.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$210.00K	USD	1 Quarter
Pension adjustment, net of taxes	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease`	$56.00K	USD	1 Quarter
Pension adjustment, net of taxes	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease`	$18.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$183.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$228.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$939.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.19M	USD	1 Quarter

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