$POWL
POWELL INDUSTRIES INC

2016 Q1 Form 10-Q Financial Statement

#000156459016017619 Filed on May 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q3 2015 Q1
Revenue $152.3M $162.3M $170.2M
YoY Change -10.52% -0.31% 4.87%
Cost Of Revenue $122.2M $132.4M $145.9M
YoY Change -16.26% -3.43% 14.52%
Gross Profit $30.09M $29.95M $24.30M
YoY Change 23.84% 16.32% -30.43%
Gross Profit Margin 19.76% 18.45% 14.28%
Selling, General & Admin $19.02M $18.50M $19.50M
YoY Change -2.44% -11.9% -11.72%
% of Gross Profit 63.22% 61.78% 80.24%
Research & Development $1.959M $1.900M $1.600M
YoY Change 22.44% 5.56% -25.82%
% of Gross Profit 6.51% 6.34% 6.58%
Depreciation & Amortization $3.400M $3.300M $3.400M
YoY Change 0.0% -10.81% 30.77%
% of Gross Profit 11.3% 11.02% 13.99%
Operating Expenses $20.98M $20.40M $21.20M
YoY Change -1.02% -10.92% -12.56%
Operating Profit $5.766M $9.547M $3.101M
YoY Change 85.94% 235.45% -70.64%
Interest Expense $50.00K $0.00 $100.0K
YoY Change -50.0% 143.9%
% of Operating Profit 0.87% 0.0% 3.22%
Other Income/Expense, Net $507.0K $500.0K $900.0K
YoY Change -43.67% 0.0% 77.51%
Pretax Income $6.294M $9.300M $2.700M
YoY Change 133.11% 181.82% -75.52%
Income Tax $727.0K $3.000M $6.400M
% Of Pretax Income 11.55% 32.26% 237.04%
Net Earnings $5.567M $6.312M -$3.683M
YoY Change -251.15% 159.86% -123.62%
Net Earnings / Revenue 3.66% 3.89% -2.16%
Basic Earnings Per Share $0.49 $0.54 -$0.31
Diluted Earnings Per Share $0.49 $0.54 -$0.31
COMMON SHARES
Basic Shares Outstanding 11.37M shares 12.02M
Diluted Shares Outstanding 11.42M shares 12.02M

Balance Sheet

Concept 2016 Q1 2015 Q3 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.40M $43.60M $55.70M
YoY Change 3.05% -57.71% -45.07%
Cash & Equivalents $57.36M $43.57M $55.67M
Short-Term Investments
Other Short-Term Assets $9.700M $3.916M $12.90M
YoY Change -24.81% -8.74% -7.86%
Inventory $30.23M $32.89M $132.4M
Prepaid Expenses $5.004M
Receivables $103.4M $101.8M $121.4M
Other Receivables $2.600M $1.200M $3.500M
Total Short-Term Assets $293.2M $297.1M $325.9M
YoY Change -10.03% -16.86% -4.69%
LONG-TERM ASSETS
Property, Plant & Equipment $150.7M $154.6M $161.8M
YoY Change -6.86% -1.47% 11.54%
Goodwill $1.003M $1.003M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.63M $12.40M $13.80M
YoY Change -22.99% 50.78% 43.68%
Total Long-Term Assets $167.6M $171.7M $180.5M
YoY Change -7.17% -6.73% 4.24%
TOTAL ASSETS
Total Short-Term Assets $293.2M $297.1M $325.9M
Total Long-Term Assets $167.6M $171.7M $180.5M
Total Assets $460.8M $468.8M $506.4M
YoY Change -9.01% -13.41% -1.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.84M $48.01M $53.30M
YoY Change -19.63% -31.62% 6.91%
Accrued Expenses $25.70M $24.20M $23.80M
YoY Change 7.98% -18.79% -4.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K $400.0K $400.0K
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $117.7M $125.0M $149.3M
YoY Change -21.17% -20.94% 14.63%
LONG-TERM LIABILITIES
Long-Term Debt $2.000M $2.400M $2.400M
YoY Change -16.67% -14.29% -14.29%
Other Long-Term Liabilities $780.0K $723.0K $9.700M
YoY Change -91.96% 10.38%
Total Long-Term Liabilities $2.780M $3.123M $12.10M
YoY Change -77.02% 376.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $117.7M $125.0M $149.3M
Total Long-Term Liabilities $2.780M $3.123M $12.10M
Total Liabilities $127.7M $135.6M $161.3M
YoY Change -20.83% -20.4% 23.85%
SHAREHOLDERS EQUITY
Retained Earnings $327.5M
YoY Change
Common Stock $50.82M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $25.00M $21.26M
YoY Change
Treasury Stock Shares $806.0K $670.2K
Shareholders Equity $333.0M $333.3M $345.0M
YoY Change
Total Liabilities & Shareholders Equity $460.8M $468.8M $506.4M
YoY Change -9.0% -13.42% -1.69%

Cashflow Statement

Concept 2016 Q1 2015 Q3 2015 Q1
OPERATING ACTIVITIES
Net Income $5.567M $6.312M -$3.683M
YoY Change -251.15% 159.86% -123.62%
Depreciation, Depletion And Amortization $3.400M $3.300M $3.400M
YoY Change 0.0% -10.81% 30.77%
Cash From Operating Activities $1.100M -$5.700M $18.60M
YoY Change -94.09% -124.05% -253.72%
INVESTING ACTIVITIES
Capital Expenditures -$500.0K -$500.0K -$9.700M
YoY Change -94.85% -90.38% 259.26%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$500.0K -$400.0K -$9.700M
YoY Change -94.85% -92.31% -179.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.000M -12.10M -9.000M
YoY Change -66.67% 365.38% 200.0%
NET CHANGE
Cash From Operating Activities 1.100M -5.700M 18.60M
Cash From Investing Activities -500.0K -400.0K -9.700M
Cash From Financing Activities -3.000M -12.10M -9.000M
Net Change In Cash -2.400M -18.20M -100.0K
YoY Change 2300.0% -214.47% -96.55%
FREE CASH FLOW
Cash From Operating Activities $1.100M -$5.700M $18.60M
Capital Expenditures -$500.0K -$500.0K -$9.700M
Free Cash Flow $1.600M -$5.200M $28.30M
YoY Change -94.35% -117.99% -401.06%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
400000
CY2016Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2000000
CY2016Q1 us-gaap Contract Revenue Cost
ContractRevenueCost
122172000
CY2016Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
2234000
CY2015Q3 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
2393000
CY2016Q1 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
1637000
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
10627000
CY2016Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
48008000
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
327481000
CY2015Q3 us-gaap Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
42057000
CY2015Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4930000
CY2015Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7521000
CY2015Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
784000
CY2016Q1 us-gaap Deferred Revenue And Credits Noncurrent
DeferredRevenueAndCreditsNoncurrent
1522000
CY2016Q1 us-gaap Nontrade Receivables Noncurrent
NontradeReceivablesNoncurrent
2333000
CY2016Q1 us-gaap Assets
Assets
460759000
CY2015Q3 us-gaap Assets
Assets
468824000
CY2016Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
42838000
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
24999000
CY2016Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
20883000
CY2015Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
19223000
CY2016Q1 us-gaap Billings In Excess Of Cost Current
BillingsInExcessOfCostCurrent
39556000
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
21259000
CY2016Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4787000
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
6143000
CY2016Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
1113000
CY2016Q1 us-gaap Deferred Revenue And Credits Current
DeferredRevenueAndCreditsCurrent
2029000
CY2016Q1 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
122000
CY2016Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
50817000
CY2016Q1 us-gaap Gross Profit
GrossProfit
30094000
CY2016Q1 us-gaap Inventory Net
InventoryNet
30227000
CY2016Q1 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
89970000
CY2015Q3 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
104793000
CY2015Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
400000
CY2015Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2400000
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
780000
CY2016Q1 us-gaap Restructuring Charges
RestructuringCharges
3259000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1386000
us-gaap Interest Expense
InterestExpense
69000
us-gaap Investment Income Interest
InvestmentIncomeInterest
88000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1466000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5388000
us-gaap Net Income Loss
NetIncomeLoss
5108000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
806018
CY2016Q1 us-gaap Contracts Revenue
ContractsRevenue
152266000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4788000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
5567000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-3683000
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11422000
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11369000
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12018000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2653000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2133000
powl Increase Decrease In Accounts Payable And Income Taxes Payable
IncreaseDecreaseInAccountsPayableAndIncomeTaxesPayable
-4756000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
106000
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-11810000
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
4552000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1574000
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6897000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-257000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
25208000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
39000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1126000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1087000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
400000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
808000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5921000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-10869000
us-gaap Cash And Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
13252000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
537000
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
103118000
CY2014Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1844000
powl Increase Decrease Due To Foreign Currency Translation
IncreaseDecreaseDueToForeignCurrencyTranslation
-43000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1067000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1028000
CY2015Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.26
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.52
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.52
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2014000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-11135000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
7122000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15057000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3118000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
808000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3740000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
5921000
us-gaap Depreciation
Depreciation
6518000
us-gaap Depreciation
Depreciation
6562000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
174000
us-gaap Adjustment For Amortization
AdjustmentForAmortization
232000
us-gaap Share Based Compensation
ShareBasedCompensation
3118000
us-gaap Share Based Compensation
ShareBasedCompensation
1567000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
339000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
469000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
337000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
7549000
us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
1015000
us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
1015000
powl Cash Received From Amended Supply Agreement
CashReceivedFromAmendedSupplyAgreement
2333000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
18321000
us-gaap Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
-13050000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3360000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1613000
powl Increase Decrease In Accounts Payable And Income Taxes Payable
IncreaseDecreaseInAccountsPayableAndIncomeTaxesPayable
-3564000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-6845000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
450000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-4102000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
43000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28692000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-28649000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
400000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
557000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3740000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5759000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6264000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-12980000
us-gaap Cash And Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-45731000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1715000
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
55672000
us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Overview</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Powell Industries, Inc. (we, us, our, Powell or the Company) was incorporated in the state of Delaware in 2004 as a successor to a Nevada company incorporated in 1968. The Nevada corporation was the successor to a company founded by William E. Powell in 1947, which merged into the Company in 1977. Our major subsidiaries, all of which are wholly owned, include: Powell Electrical Systems, Inc.; Powell (UK) Limited; Powell Canada Inc. and Powell Industries International, B.V.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We develop, design, manufacture and service custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy. Headquartered in Houston, Texas, we serve the oil and gas refining, offshore oil and gas production, petrochemical, pipeline, terminal, mining and metals, light rail traction power, electric utility, pulp and paper and other industrial markets.<font style="margin-left:36pt;"></font></p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S.&#160;GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying footnotes. The most significant estimates used in our financial statements affect revenue and cost recognition for construction contracts, the allowance for doubtful accounts, provision for excess and obsolete inventory, goodwill and intangible assets, self-insurance, warranty accruals, liquidated damages and income taxes. The amounts recorded for insurance claims, warranties, legal, liquidated damages, income taxes and other contingent liabilities require judgments regarding the amount of expenses that will ultimately be incurred. We base our estimates on historical experience and on various other assumptions, as well as the specific circumstances surrounding these contingent liabilities, in evaluating the amount of liability that should be recorded. Additionally, the recognition of deferred tax assets requires estimates related to future income and other assumptions regarding timing and future profitability.&nbsp;&nbsp;Estimates may change as new events occur, additional information becomes available or operating environments change. Actual results may differ from our estimates. </p></div>
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
53000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
33000
CY2015Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1010000
CY2014Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1577000
CY2016Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
92000
CY2015Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
186000
CY2016Q1 powl Allowance For Doubtful Accounts Receivable Write Offs And Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndNetOfRecoveries
141000
CY2015Q1 powl Allowance For Doubtful Accounts Receivable Write Offs And Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndNetOfRecoveries
120000
powl Allowance For Doubtful Accounts Receivable Write Offs And Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndNetOfRecoveries
114000
powl Allowance For Doubtful Accounts Receivable Write Offs And Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableWriteOffsAndNetOfRecoveries
122000
CY2016Q1 powl Increase Decrease Due To Foreign Currency Translation
IncreaseDecreaseDueToForeignCurrencyTranslation
15000
CY2015Q1 powl Increase Decrease Due To Foreign Currency Translation
IncreaseDecreaseDueToForeignCurrencyTranslation
-29000
powl Increase Decrease Due To Foreign Currency Translation
IncreaseDecreaseDueToForeignCurrencyTranslation
5000
CY2016Q1 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
29414000
CY2015Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
31807000
CY2016Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
813000
CY2015Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
1084000
CY2016Q1 powl Costs Incurred On Uncompleted Contracts
CostsIncurredOnUncompletedContracts
1000967000
CY2015Q3 powl Costs Incurred On Uncompleted Contracts
CostsIncurredOnUncompletedContracts
912237000
CY2016Q1 powl Estimated Earnings
EstimatedEarnings
308608000
CY2015Q3 powl Estimated Earnings
EstimatedEarnings
271640000
CY2016Q1 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
1309575000
CY2015Q3 us-gaap Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
1183877000
CY2016Q1 us-gaap Billed Contract Receivables
BilledContractReceivables
1259161000
CY2015Q3 us-gaap Billed Contract Receivables
BilledContractReceivables
1121141000
CY2016Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
50414000
CY2015Q3 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
62736000
CY2015Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5105000
CY2014Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4480000
CY2014Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4557000
CY2016Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
832000
CY2015Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
530000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2158000
CY2016Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1175000
CY2015Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
504000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2275000
CY2016Q1 us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
25000
CY2015Q1 us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-131000
us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-26000
us-gaap Product Warranty Accrual Currency Translation Increase Decrease
ProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-221000
CY2016Q1 us-gaap Goodwill Gross
GoodwillGross
1003000
CY2016Q1 us-gaap Goodwill
Goodwill
1003000
CY2015Q3 us-gaap Goodwill Gross
GoodwillGross
1003000
CY2015Q3 us-gaap Goodwill
Goodwill
1003000
CY2016Q1 powl Intangible Assets Net Including Goodwill Gross
IntangibleAssetsNetIncludingGoodwillGross
12752000
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10518000
CY2015Q3 powl Intangible Assets Net Including Goodwill Gross
IntangibleAssetsNetIncludingGoodwillGross
12752000
CY2015Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10359000
us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P4Y
CY2016Q1 us-gaap Long Term Debt
LongTermDebt
2400000
CY2015Q3 us-gaap Long Term Debt
LongTermDebt
2800000
CY2016Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
400000
CY2015Q3 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
400000
CY2016Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2000000
CY2015Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2400000
CY2016Q1 powl Commitments And Contingencies Additional Bonding Capacity
CommitmentsAndContingenciesAdditionalBondingCapacity
451100000
us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
8900000
powl Loss Contingency Probable Loss In Period
LossContingencyProbableLossInPeriod
2000000
CY2016Q1 us-gaap Loss Contingency Estimate Of Possible Loss
LossContingencyEstimateOfPossibleLoss
1600000
CY2016Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
234000
CY2016Q1 powl Deferred Compensation Plan Assets Fair Value Disclosure
DeferredCompensationPlanAssetsFairValueDisclosure
5503000
CY2016Q1 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
5248000
CY2015Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
434000
CY2015Q3 powl Deferred Compensation Plan Assets Fair Value Disclosure
DeferredCompensationPlanAssetsFairValueDisclosure
4783000
CY2015Q3 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
4487000
CY2016Q1 powl Amount Of Transfers Between Fair Value Measurement Levels
AmountOfTransfersBetweenFairValueMeasurementLevels
0
CY2016Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
5567000
CY2015Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3683000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
5108000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-3922000
CY2016Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.12
CY2015Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
2.37
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.07
CY2015Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
4375000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
3.68
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
powl Effective Income Tax Rate Reconciliation Change In Foreign Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInForeignValuationAllowance
-0.11
powl Effective Income Tax Rate Reconciliation Change In Foreign Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInForeignValuationAllowance
6.61
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.24
us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
3.27
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.02
us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.02
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.09
us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.03
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
800000
CY2015Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
9000000
CY2015Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4100000
us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
600000
CY2015Q4 us-gaap Restructuring Charges
RestructuringCharges
3800000
us-gaap Payments For Restructuring
PaymentsForRestructuring
3500000
CY2016Q1 powl Restructuring And Related Cost Expected Cost Payable In Reminder Of Fiscal Year
RestructuringAndRelatedCostExpectedCostPayableInReminderOfFiscalYear
3600000

Files In Submission

Name View Source Status
0001564590-16-017619-index-headers.html Edgar Link pending
0001564590-16-017619-index.html Edgar Link pending
0001564590-16-017619.txt Edgar Link pending
0001564590-16-017619-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
powl-10q_20160331.htm Edgar Link pending
powl-20160331.xml Edgar Link completed
powl-20160331.xsd Edgar Link pending
powl-20160331_cal.xml Edgar Link unprocessable
powl-20160331_def.xml Edgar Link unprocessable
powl-20160331_lab.xml Edgar Link unprocessable
powl-20160331_pre.xml Edgar Link unprocessable
powl-ex311_52.htm Edgar Link pending
powl-ex312_53.htm Edgar Link pending
powl-ex321_51.htm Edgar Link pending
powl-ex322_50.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending