2013 Q2 Form 10-Q Financial Statement
#000119312513213715 Filed on May 10, 2013
Income Statement
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
Revenue | $59.14M | $52.58M | $48.07M |
YoY Change | 18.0% | 9.37% | 53.1% |
Cost Of Revenue | $47.95M | $43.41M | $39.84M |
YoY Change | 16.16% | 8.95% | 56.86% |
Gross Profit | $11.18M | $9.169M | $8.229M |
YoY Change | 26.63% | 11.42% | 37.15% |
Gross Profit Margin | 18.91% | 17.44% | 17.12% |
Selling, General & Admin | $5.055M | $4.318M | $3.466M |
YoY Change | 39.22% | 24.58% | -6.32% |
% of Gross Profit | 45.2% | 47.09% | 42.12% |
Research & Development | $2.289M | $1.771M | $1.727M |
YoY Change | 26.6% | 2.55% | |
% of Gross Profit | 20.47% | 19.32% | 20.99% |
Depreciation & Amortization | $390.0K | $364.0K | $232.0K |
YoY Change | 62.5% | 56.9% | 28.89% |
% of Gross Profit | 3.49% | 3.97% | 2.82% |
Operating Expenses | $7.344M | $6.089M | $5.193M |
YoY Change | 35.02% | 17.25% | 40.35% |
Operating Profit | $3.840M | $3.080M | $3.036M |
YoY Change | 13.17% | 1.45% | 32.0% |
Interest Expense | $241.0K | $194.0K | $227.0K |
YoY Change | -16.9% | -14.54% | -137.83% |
% of Operating Profit | 6.28% | 6.3% | 7.48% |
Other Income/Expense, Net | -$4.701M | -$5.040M | -$855.0K |
YoY Change | -770.61% | 489.47% | |
Pretax Income | -$861.0K | -$1.960M | $2.181M |
YoY Change | -121.03% | -189.87% | 28.29% |
Income Tax | $1.239M | $967.0K | $1.031M |
% Of Pretax Income | 47.27% | ||
Net Earnings | -$2.100M | -$2.927M | $1.150M |
YoY Change | -170.92% | -354.52% | 4.55% |
Net Earnings / Revenue | -3.55% | -5.57% | 2.39% |
Basic Earnings Per Share | -$0.23 | -$0.32 | |
Diluted Earnings Per Share | -$0.23 | -$0.32 | $131.9K |
COMMON SHARES | |||
Basic Shares Outstanding | 9.217M shares | 9.121M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.400M | $300.0K | $200.0K |
YoY Change | 133.33% | 50.0% | 100.0% |
Cash & Equivalents | $1.400M | $300.0K | $200.0K |
Short-Term Investments | |||
Other Short-Term Assets | $4.700M | $3.800M | $3.500M |
YoY Change | 27.03% | 8.57% | |
Inventory | $47.93M | $41.55M | $42.20M |
Prepaid Expenses | |||
Receivables | $35.06M | $36.69M | $27.60M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $89.14M | $82.27M | $73.50M |
YoY Change | 11.85% | 11.93% | 73400.0% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $9.937M | $7.828M | $3.700M |
YoY Change | 91.1% | 111.57% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $1.281M | $1.373M | $2.000M |
YoY Change | -32.58% | -31.35% | |
Total Long-Term Assets | $11.22M | $9.201M | $5.700M |
YoY Change | 60.26% | 61.42% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $89.14M | $82.27M | $73.50M |
Total Long-Term Assets | $11.22M | $9.201M | $5.700M |
Total Assets | $100.4M | $91.47M | $79.20M |
YoY Change | 15.75% | 15.5% | 79100.0% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $23.50M | $22.10M | $32.00M |
YoY Change | -31.69% | -30.94% | 31900.0% |
Accrued Expenses | $4.919M | $4.346M | $3.800M |
YoY Change | 22.98% | 14.37% | 3700.0% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | ||
YoY Change | |||
Total Short-Term Liabilities | $28.61M | $28.44M | $37.50M |
YoY Change | -27.03% | -24.16% | 12400.0% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $37.20M | $31.90M | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $599.0K | $628.0K | $24.70M |
YoY Change | -97.82% | -97.46% | |
Total Long-Term Liabilities | $599.0K | $628.0K | $24.70M |
YoY Change | -97.82% | -97.46% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $28.61M | $28.44M | $37.50M |
Total Long-Term Liabilities | $599.0K | $628.0K | $24.70M |
Total Liabilities | $76.46M | $68.21M | $62.70M |
YoY Change | 13.78% | 8.78% | 20800.0% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $11.09M | $13.19M | |
YoY Change | |||
Common Stock | $17.07M | $14.33M | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $4.250M | $4.250M | |
YoY Change | |||
Treasury Stock Shares | 830.9K shares | 830.9K shares | |
Shareholders Equity | $23.90M | $23.27M | $16.50M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $100.4M | $91.47M | $79.20M |
YoY Change | 15.75% | 15.5% | 79100.0% |
Cashflow Statement
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.100M | -$2.927M | $1.150M |
YoY Change | -170.92% | -354.52% | 4.55% |
Depreciation, Depletion And Amortization | $390.0K | $364.0K | $232.0K |
YoY Change | 62.5% | 56.9% | 28.89% |
Cash From Operating Activities | -$2.830M | -$2.381M | $3.300M |
YoY Change | 13.65% | -172.15% | 50.0% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$1.950M | -$670.0K | -$350.0K |
YoY Change | 109.68% | 91.43% | 12.9% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$1.950M | -$667.0K | -$345.0K |
YoY Change | 109.68% | 93.33% | 11.29% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | $6.000K | ||
YoY Change | |||
Cash From Financing Activities | 5.920M | 2.800M | -2.799M |
YoY Change | 53.77% | -200.04% | 48.1% |
NET CHANGE | |||
Cash From Operating Activities | -2.830M | -2.381M | 3.300M |
Cash From Investing Activities | -1.950M | -667.0K | -345.0K |
Cash From Financing Activities | 5.920M | 2.800M | -2.799M |
Net Change In Cash | 1.140M | -248.0K | 156.0K |
YoY Change | 165.12% | -258.97% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$2.830M | -$2.381M | $3.300M |
Capital Expenditures | -$1.950M | -$670.0K | -$350.0K |
Free Cash Flow | -$880.0K | -$1.711M | $3.650M |
YoY Change | -43.59% | -146.88% | 45.42% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2011Q3 | psix |
Reverse Stock Split Ratio
ReverseStockSplitRatio
|
32 | pure |
CY2011Q3 | psix |
Conversion Of Preferred Stock Into Common Stock Value
ConversionOfPreferredStockIntoCommonStockValue
|
1000 | |
CY2011Q3 | psix |
Reset Price
ResetPrice
|
12.00 | |
CY2013Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
9216621 | shares |
CY2011Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
10000000 | shares |
CY2011Q2 | psix |
Assets Prior To Reverse Acquisition Transaction
AssetsPriorToReverseAcquisitionTransaction
|
5000 | |
CY2011Q2 | psix |
Shares Issuable Upon Exercise Prior To And Adjusted After Reverse Split
SharesIssuableUponExercisePriorToAndAdjustedAfterReverseSplit
|
3360000 | shares |
CY2012Q1 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
35000000 | |
CY2012Q1 | psix |
Liquidity Threshold
LiquidityThreshold
|
7500000 | |
CY2012Q1 | psix |
Percent Of Total Credit Facility
PercentOfTotalCreditFacility
|
0.125 | pure |
CY2012Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
543872 | shares |
CY2012Q2 | psix |
Discount On Valuation Of Trading Activity
DiscountOnValuationOfTradingActivity
|
0.15 | pure |
CY2012Q1 | us-gaap |
Cash
Cash
|
156000 | |
CY2012Q1 | psix |
Estimated Fair Value Of Common Stock
EstimatedFairValueOfCommonStock
|
12.06 | |
CY2013Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
830925 | shares |
CY2013Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2013Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
114000 | shares |
CY2013Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
28441000 | |
CY2013Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1568000 | |
CY2013Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
13185000 | |
CY2013Q1 | us-gaap |
Assets
Assets
|
91473000 | |
CY2013Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
38672000 | |
CY2013Q1 | us-gaap |
Buildings And Improvements Gross
BuildingsAndImprovementsGross
|
3873000 | |
CY2013Q1 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.0195 | pure |
CY2013Q1 | us-gaap |
Long Term Line Of Credit
LongTermLineOfCredit
|
31945000 | |
CY2013Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
36687000 | |
CY2013Q1 | us-gaap |
Inventory Net
InventoryNet
|
41546000 | |
CY2013Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
13537000 | |
CY2013Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1373000 | |
CY2013Q1 | us-gaap |
Line Of Credit Facility Interest Rate At Period End
LineOfCreditFacilityInterestRateAtPeriodEnd
|
0.0325 | pure |
CY2013Q1 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
1988000 | |
CY2013Q1 | us-gaap |
Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
|
6900000 | |
CY2013Q1 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
136000 | |
CY2013Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
91473000 | |
CY2013Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
10047546 | shares |
CY2013Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
10000 | |
CY2013Q1 | us-gaap |
Land
Land
|
260000 | |
CY2013Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2013Q1 | us-gaap |
Liabilities
Liabilities
|
68205000 | |
CY2013Q1 | us-gaap |
Cash
Cash
|
295000 | |
CY2013Q1 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
2176000 | |
CY2013Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
1117000 | |
CY2013Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2013Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
4250000 | |
CY2013Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
4346000 | |
CY2013Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2013Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2013Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7828000 | |
CY2013Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2013Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
9216621 | shares |
CY2013Q1 | us-gaap |
Assets Current
AssetsCurrent
|
82272000 | |
CY2013Q1 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
1271000 | |
CY2013Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2013Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
5709000 | |
CY2013Q1 | us-gaap |
Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
|
18100000 | |
CY2013Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
14323000 | |
CY2013Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23268000 | |
CY2013Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
628000 | |
CY2013Q1 | psix |
Accounts Payable Current Bank Overdraft
AccountsPayableCurrentBankOverdraft
|
22107000 | |
CY2013Q1 | psix |
Common Stock Market Price Per Share
CommonStockMarketPricePerShare
|
22.07 | |
CY2013Q1 | psix |
Derivative Warrant Liabilities Noncurrent
DerivativeWarrantLiabilitiesNoncurrent
|
7055000 | |
CY2013Q1 | psix |
Discounted Valuation Of Warrants
DiscountedValuationOfWarrants
|
0.15 | pure |
CY2013Q1 | psix |
Line Of Credit Facility Outstanding With Libor
LineOfCreditFacilityOutstandingWithLibor
|
25000000 | |
CY2013Q1 | psix |
Office Furniture And Equipment
OfficeFurnitureAndEquipment
|
2349000 | |
CY2013Q1 | psix |
Tooling And Equipment
ToolingAndEquipment
|
5582000 | |
CY2013Q1 | psix |
Transportation Equipment
TransportationEquipment
|
202000 | |
CY2013Q1 | psix |
Acquisition Of Basket For Covenant Requirement
AcquisitionOfBasketForCovenantRequirement
|
2000000 | |
CY2013Q1 | psix |
Amount Of Merchandise Or Goods Held By Parent Company Available For Sale
AmountOfMerchandiseOrGoodsHeldByParentCompanyAvailableForSale
|
2874000 | |
CY2012Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
830925 | shares |
CY2012Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2012Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
114000 | shares |
CY2012Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
32664000 | |
CY2012Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1910000 | |
CY2012Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
16112000 | |
CY2012Q4 | us-gaap |
Assets
Assets
|
90765000 | |
CY2012Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
36006000 | |
CY2012Q4 | us-gaap |
Buildings And Improvements Gross
BuildingsAndImprovementsGross
|
3882000 | |
CY2012Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
90765000 | |
CY2012Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
9909212 | shares |
CY2012Q4 | psix |
Discounted Valuation Of Warrants
DiscountedValuationOfWarrants
|
0.15 | pure |
CY2012Q4 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.0196 | pure |
CY2012Q4 | us-gaap |
Long Term Line Of Credit
LongTermLineOfCredit
|
30942000 | |
CY2012Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
37480000 | |
CY2012Q4 | us-gaap |
Inventory Net
InventoryNet
|
39968000 | |
CY2012Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
12636000 | |
CY2012Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1543000 | |
CY2012Q4 | us-gaap |
Line Of Credit Facility Interest Rate At Period End
LineOfCreditFacilityInterestRateAtPeriodEnd
|
0.0325 | pure |
CY2012Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
1074000 | |
CY2012Q4 | us-gaap |
Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
|
5900000 | |
CY2012Q4 | us-gaap |
Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
|
136000 | |
CY2012Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
10000 | |
CY2012Q4 | us-gaap |
Land
Land
|
260000 | |
CY2012Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2012Q4 | us-gaap |
Liabilities
Liabilities
|
68031000 | |
CY2012Q4 | us-gaap |
Cash
Cash
|
543000 | |
CY2012Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
2176000 | |
CY2012Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2012Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
4250000 | |
CY2012Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
5011000 | |
CY2012Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2012Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2012Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7145000 | |
CY2012Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2012Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
9078287 | shares |
CY2012Q4 | us-gaap |
Assets Current
AssetsCurrent
|
82077000 | |
CY2012Q4 | us-gaap |
Construction In Progress Gross
ConstructionInProgressGross
|
594000 | |
CY2012Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2012Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
5491000 | |
CY2012Q4 | us-gaap |
Debt Instrument Unused Borrowing Capacity Amount
DebtInstrumentUnusedBorrowingCapacityAmount
|
19100000 | |
CY2012Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
10862000 | |
CY2012Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
22734000 | |
CY2012Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
623000 | |
CY2012Q4 | psix |
Accounts Payable Current Bank Overdraft
AccountsPayableCurrentBankOverdraft
|
26579000 | |
CY2012Q4 | psix |
Derivative Warrant Liabilities Noncurrent
DerivativeWarrantLiabilitiesNoncurrent
|
3666000 | |
CY2012Q4 | psix |
Line Of Credit Facility Outstanding With Libor
LineOfCreditFacilityOutstandingWithLibor
|
25000000 | |
CY2012Q4 | psix |
Office Furniture And Equipment
OfficeFurnitureAndEquipment
|
2172000 | |
CY2012Q4 | psix |
Tooling And Equipment
ToolingAndEquipment
|
5505000 | |
CY2012Q4 | psix |
Transportation Equipment
TransportationEquipment
|
223000 | |
CY2012Q4 | psix |
Amount Of Merchandise Or Goods Held By Parent Company Available For Sale
AmountOfMerchandiseOrGoodsHeldByParentCompanyAvailableForSale
|
3962000 | |
CY2012Q2 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0092 | pure |
CY2011Q2 | psix |
Non Recurring Fees Incurred In Connection With Reverse Recapitalization And Private Placement
NonRecurringFeesIncurredInConnectionWithReverseRecapitalizationAndPrivatePlacement
|
5100000 | |
CY2013Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2013 | |
CY2011Q3 | psix |
Commitment Public Underwritten Offering Of Equity Securities Closing Days
CommitmentPublicUnderwrittenOfferingOfEquitySecuritiesClosingDays
|
P180D | |
CY2011Q3 | psix |
Proceeds From Firm Commitment Public Under Written Offering Of Equity Securities Of Not Less Than This Amount
ProceedsFromFirmCommitmentPublicUnderWrittenOfferingOfEquitySecuritiesOfNotLessThanThisAmount
|
15000000 | |
CY2012 | psix |
Common Stock Shares Issuable Private Placement Warrants
CommonStockSharesIssuablePrivatePlacementWarrants
|
736252 | shares |
CY2013Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2011Q2 | psix |
Sale Of Preferred Stock Together With Warrant
SaleOfPreferredStockTogetherWithWarrant
|
18000 | shares |
CY2011Q2 | psix |
Preferred Convertible Stock
PreferredConvertibleStock
|
48000007 | shares |
CY2011Q2 | psix |
Proceeds Received In Consideration Of Sale Of Shares
ProceedsReceivedInConsiderationOfSaleOfShares
|
18000000 | |
CY2011Q3 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
5000000 | |
CY2013Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2013Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2013-03-31 | |
CY2013Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001137091 | |
CY2013Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2013Q1 | dei |
Trading Symbol
TradingSymbol
|
PSIX | |
CY2013Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
POWER SOLUTIONS INTERNATIONAL, INC. | |
CY2013Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2013Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Smaller Reporting Company | |
CY2013Q1 | invest |
Investment Warrants Exercise Price
InvestmentWarrantsExercisePrice
|
13.00 | |
CY2013Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-4846000 | |
CY2013Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
364000 | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-667000 | |
CY2013Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y | |
CY2013Q1 | us-gaap |
Debt Instrument Maturity Date
DebtInstrumentMaturityDate
|
2014-04-29 | |
CY2013Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y | |
CY2013Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-809000 | |
CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-1960000 | |
CY2013Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Settlements Domestic
EffectiveIncomeTaxRateReconciliationTaxSettlementsDomestic
|
0.37 | pure |
CY2013Q1 | us-gaap |
Interest Paid
InterestPaid
|
201000 | |
CY2013Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-248000 | |
CY2013Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
1880000 | |
CY2013Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3080000 | |
CY2013Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>2. Basis of presentation</b></font></p> <!-- xbrl,body --> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Unaudited condensed consolidated financial statements</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The unaudited condensed consolidated financial statements of Power Solutions International, Inc. present information in accordance with generally accepted accounting principles in the U.S. (“GAAP”), have been prepared pursuant to the rules and regulations of the SEC and, in the opinion of management, reflect all normal and recurring adjustments necessary to present fairly the interim periods of the unaudited condensed consolidated financial position, results of operations and cash flows of the Company and its wholly-owned subsidiaries for the periods presented.</font></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px">  </p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">These unaudited condensed consolidated financial statements should be read in conjunction with, and have been prepared in conformity with the accounting principles reflected in, the consolidated financial statements and related notes included in PSI’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012. As these financial statements have been prepared pursuant to the rules and regulations of the SEC, certain information and disclosures normally included in the financial statements and related notes prepared in accordance with GAAP have been condensed or omitted.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Principles of consolidation</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The unaudited condensed consolidated financial statements include the accounts of Power Solutions International, Inc., and its direct and indirect wholly-owned subsidiaries, The W Group, Inc., Power Production, Inc., Power Great Lakes, Inc., Power Solutions, Inc., Power Global Solutions, Inc., Auto Manufacturing, Inc., Torque Power Source Parts, Inc., XISync, LLC, PSI International, LLC, and Power Properties, L.L.C. Collectively, these entities produce and distribute off-highway industrial engines and provide aftermarket support for the industrial engine market. All significant intercompany balances and transactions have been eliminated in the consolidation.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Significant accounting policies</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company’s significant accounting policies as of December 31, 2012 are described in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 12, 2013. There have been no material changes with respect to the Company’s significant accounting policies subsequent to December 31, 2012.</font></p> </div> | |
CY2013Q1 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.550 | pure |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2800000 | |
CY2013Q1 | us-gaap |
Gross Profit
GrossProfit
|
9169000 | |
CY2013Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>1. Description of the Company and business operations</b></font></p> <!-- xbrl,body --> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Description of the company</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Power Solutions International, Inc., a Delaware corporation, is the successor in a migratory merger to Power Solutions International, Inc., a Nevada corporation (“Power Solutions International” and “PSI” refer to Power Solutions International, Inc., a Nevada corporation, prior to the consummation of the migratory merger, and Power Solutions International, Inc., a Delaware corporation, following the consummation of the migratory merger).</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Power Solutions International, Inc., a Nevada corporation, was formerly known as Format, Inc. (“Format”), and prior to the consummation of a reverse recapitalization, was engaged, to a limited extent, in EDGARizing corporate documents for filing with the Securities and Exchange Commission (“SEC”) and in providing limited commercial printing services. On April 29, 2011, Format consummated a reverse acquisition transaction with The W Group, Inc. and its subsidiaries (“The W Group”), and in connection with this transaction, Format changed its corporate name to Power Solutions International, Inc. The W Group remained as the surviving corporation of the reverse acquisition, becoming a wholly-owned subsidiary of Power Solutions International.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The W Group was the accounting acquirior in the reverse recapitalization with Format, Inc. Accordingly, with respect to the period prior to the reverse recapitalization, it is The W Group’s historical financial position and results of operations that are presented in the unaudited condensed consolidated financial statements, with The W Group’s historical equity restated to reflect the originally issued and outstanding equity of Format, plus the equity issued by Power Solutions International, pursuant to the reverse recapitalization.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Unless the context otherwise requires, the “Company” refers to The W Group prior to the closing of the reverse recapitalization on April 29, 2011, and Power Solutions International, Inc. as successor to the business of The W Group, following the completion of the reverse recapitalization.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Refer to Note 4, “Reverse recapitalization of The W Group, private placement, reverse split and migratory merger,” for further description of these transactions.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Nature of business operations</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company is a global producer and distributor of a broad range of high performance, certified low emission, power systems for original equipment manufacturers of off-highway industrial equipment (“industrial OEMs”). The Company’s customers include companies that are large, industry-leading and/or multinational organizations, and the Company is a sole source provider of alternative fuel power systems for most of its customers. The Company’s products and services are sold predominantly to customers throughout North America, as well as, to customers located throughout Asia and Europe. The Company operates as one business and geographic segment.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company’s power systems are highly engineered, comprehensive systems which, through its technologically sophisticated development and manufacturing processes, including its in-house design, prototyping, testing and engineering capabilities and its analysis and determination of the specific components to be integrated into a given power system (driven in large part by emission standards and cost restrictions required, or desired, to be met), allow the Company to provide to its customers power systems customized to meet specific industrial OEM application requirements, other technical specifications of customers, and requirements imposed by environmental regulatory bodies. The Company’s power system configurations range from a basic engine integrated with appropriate fuel system components to completely packaged power systems that include any combination of cooling systems, electronic systems, air intake systems, fuel systems, housings, power takeoff systems, exhaust systems, hydraulic systems, enclosures, brackets, hoses, tubes and other assembled componentry. The Company purchases engines from third party suppliers and has recently begun producing an internally-designed engine, all of which engines are then integrated into the Company’s power systems. Additionally, the Company has begun designing and developing other engines in-house. Of the other components that the Company integrates into its power systems, a substantial portion consist of internally designed components and components for which the Company coordinates significant design efforts with third party suppliers, with the remainder consisting largely of parts that are sourced off-the-shelf from third party suppliers. Some of the key components (including all of the engines) embody proprietary intellectual property of the Company’s suppliers. As a result of its design and manufacturing capabilities, the Company is able to provide to its customers a comprehensive power system which can be incorporated, using a single part number, directly into a customer’s specified application. Capitalizing on its expertise in developing and manufacturing emission-certified power systems and its access to the latest power system technologies, the Company believes that it is able to provide complete “green” power systems to industrial OEMs at a low cost and with fast design turnaround. In addition to the certified products described above, the Company sells diesel and non-certified power systems and aftermarket components.</font></p> </div> | |
CY2013Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1578000 | |
CY2013Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
43407000 | |
CY2013Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2927000 | |
CY2013Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-5040000 | |
CY2013Q1 | us-gaap |
Dividend Income Operating
DividendIncomeOperating
|
0 | |
CY2013Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2438000 | |
CY2013Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-503000 | |
CY2013Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
6089000 | |
CY2013Q1 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-4852000 | |
CY2013Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
967000 | |
CY2013Q1 | us-gaap |
Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
|
0.0025 | pure |
CY2013Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
667000 | |
CY2013Q1 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
52576000 | |
CY2013Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
|
-16000 | |
CY2013Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
|
4846000 | |
CY2013Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
55000 | |
CY2013Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
597918 | shares |
CY2013Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-665000 | |
CY2013Q1 | us-gaap |
Interest Expense
InterestExpense
|
194000 | |
CY2013Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
914000 | |
CY2013Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
14000 | |
CY2013Q1 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
1771000 | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2381000 | |
CY2013Q1 | us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>3. Recently issued accounting pronouncements</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company evaluates the pronouncements of authoritative accounting organizations, including the Financial Accounting Standards Board (FASB), to determine the impact of new pronouncements on GAAP and the Company. There were no new accounting pronouncements that have been issued or adopted during the three months ended March 31, 2013, that are expected to have a significant effect on the Company’s unaudited condensed consolidated financial statements.</font></p> </div> | |
CY2013Q1 | psix |
Stock Option Granted Number Of Years Of Expiry From Grant Date
StockOptionGrantedNumberOfYearsOfExpiryFromGrantDate
|
10 | Y |
CY2013Q1 | psix |
Liquidated Damages
LiquidatedDamages
|
300000 | |
CY2013Q1 | psix |
Aggregate Number Of Days In Which Conditions Regarding Suspension Persist
AggregateNumberOfDaysInWhichConditionsRegardingSuspensionPersist
|
P45D | |
CY2013Q1 | psix |
Common Stock Shares Issuable Private Placement Warrants
CommonStockSharesIssuablePrivatePlacementWarrants
|
597918 | shares |
CY2013Q1 | psix |
Consecutive Days Of Liquidity Threshold
ConsecutiveDaysOfLiquidityThreshold
|
P60D | |
CY2013Q1 | psix |
Conversion Price For Preferred Stock
ConversionPriceForPreferredStock
|
12.00 | |
CY2013Q1 | psix |
Debt Instrument Extend Maturity Date
DebtInstrumentExtendMaturityDate
|
2017-03-20 | |
CY2013Q1 | psix |
Expenses On Stock Appreciation Rights
ExpensesOnStockAppreciationRights
|
207000 | |
CY2013Q1 | psix |
Filing Registration Condition For Suspension Description
FilingRegistrationConditionForSuspensionDescription
|
(which period may not be for more than 20 consecutive days or for a total of more than 45 days in any 12-month period) | |
CY2013Q1 | psix |
Gross Proceed From Issuance Of Common Stock And Additional Warrants
GrossProceedFromIssuanceOfCommonStockAndAdditionalWarrants
|
5000000 | |
CY2013Q1 | psix |
Noncash Or Part Noncash Unpaid Property Plant Equipment And Other Assets
NoncashOrPartNoncashUnpaidPropertyPlantEquipmentAndOtherAssets
|
371000 | |
CY2013Q1 | psix |
Number Of Consecutive Days For Suspension Of Registration Statement
NumberOfConsecutiveDaysForSuspensionOfRegistrationStatement
|
P20D | |
CY2013Q1 | psix |
Number Of Months As Base Period For Aggregate And Consecutive Period
NumberOfMonthsAsBasePeriodForAggregateAndConsecutivePeriod
|
P12M | |
CY2013Q1 | psix |
Percentage Of Amount Invested By Investors
PercentageOfAmountInvestedByInvestors
|
0.015 | pure |
CY2013Q1 | psix |
Percentage Of Common Stock
PercentageOfCommonStock
|
0.50 | pure |
CY2013Q1 | psix |
Period For Filing Registration Statement To Register Registrable Securities For Resale
PeriodForFilingRegistrationStatementToRegisterRegistrableSecuritiesForResale
|
P30D | |
CY2013Q1 | psix |
Increase Decrease Equity Based Compensation
IncreaseDecreaseEquityBasedCompensation
|
207000 | |
CY2012Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
1150000 | |
CY2012Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-855000 | |
CY2013Q1 | psix |
Registration Rights Agreement Filing Description
RegistrationRightsAgreementFilingDescription
|
The Registration Rights Agreement provides that if after such registration statement has been declared effective by the SEC, sales cannot be made pursuant to such registration statement for any reason, but excluding any period for which the use of any prospectus included in a registration statement has been suspended if and so long as certain conditions exist (which period may not be for more than 20 consecutive days or for a total of more than 45 days in any 12-month period), then the Company is required to pay amounts representing liquidated damages to each of the investors, on the same basis as the liquidated damages the Company could have been required to pay in connection with the initial registration statement. A registration statement covering the remaining Registrable Securities was declared effective on September 13, 2011 by the SEC, which resolved the contingency regarding the registration statement being declared effective. | |
CY2013Q1 | psix |
Service Period Associated With Stock Appreciation Rights Market Condition
ServicePeriodAssociatedWithStockAppreciationRightsMarketCondition
|
P1Y9M11D | |
CY2013Q1 | psix |
Valuation Of Company Common Stock Under Sar Plan Description
ValuationOfCompanyCommonStockUnderSarPlanDescription
|
Commence after May 30, 2012 and prior to May 30, 2022 | |
CY2013Q1 | psix |
Proceeds From Exercise Of Private Placement Warrants
ProceedsFromExerciseOfPrivatePlacementWarrants
|
1797000 | |
CY2013Q1 | psix |
Non Cash In Flow Associated With Change In Fair Value Associated With Exercised Warrants
NonCashInFlowAssociatedWithChangeInFairValueAssociatedWithExercisedWarrants
|
1457000 | |
CY2013Q1 | psix |
Commitment Towards Investments In Joint Venture
CommitmentTowardsInvestmentsInJointVenture
|
1200000 | |
CY2012Q1 | invest |
Investment Warrants Exercise Price
InvestmentWarrantsExercisePrice
|
13.00 | |
CY2012Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-628000 | |
CY2012Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
232000 | |
CY2012Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
6000 | |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-345000 | |
CY2012Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1896000 | |
CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
2181000 | |
CY2012Q1 | us-gaap |
Interest Paid
InterestPaid
|
189000 | |
CY2012Q1 | us-gaap |
Increase Decrease In Book Overdrafts
IncreaseDecreaseInBookOverdrafts
|
-3780000 | |
CY2012Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
156000 | |
CY2012Q1 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
1702000 | |
CY2012Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
3036000 | |
CY2012Q1 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
98000 | |
CY2012Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
8820000 | |
CY2012Q1 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
39843000 | |
CY2012Q1 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-308000 | |
CY2012Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1764000 | |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2799000 | |
CY2012Q1 | us-gaap |
Gross Profit
GrossProfit
|
8229000 | |
CY2012Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
522000 | |
CY2012Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
5193000 | |
CY2012Q1 | us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
8089000 | |
CY2012Q1 | us-gaap |
Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
|
105000 | |
CY2012Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1031000 | |
CY2012Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
345000 | |
CY2012Q1 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
48072000 | |
CY2012Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
|
42000 | |
CY2012Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
|
593000 | |
CY2012Q1 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
155000 | |
CY2012Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-246000 | |
CY2012Q1 | us-gaap |
Interest Expense
InterestExpense
|
227000 | |
CY2012Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
1184000 | |
CY2012Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
-26000 | |
CY2012Q1 | us-gaap |
Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
|
1727000 | |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
3300000 | |
CY2012Q1 | us-gaap |
Gains Losses On Sales Of Other Assets
GainsLossesOnSalesOfOtherAssets
|
-36000 | |
CY2012Q1 | psix |
Effective Income Tax Rate Reconciliation Tax Settlements Domestic Quarterly
EffectiveIncomeTaxRateReconciliationTaxSettlementsDomesticQuarterly
|
0.473 | pure |
CY2012Q1 | psix |
Noncash Or Part Noncash Unpaid Property Plant Equipment And Other Assets
NoncashOrPartNoncashUnpaidPropertyPlantEquipmentAndOtherAssets
|
75000 | |
CY2012Q1 | psix |
Effective Income Tax Rate Excluding Private Placement Expense
EffectiveIncomeTaxRateExcludingPrivatePlacementExpense
|
0.362 | pure |