$PSIX
POWER SOLUTIONS INTERNATIONAL, INC.

2014 Q3 Form 10-Q Financial Statement

#000119312514303302 Filed on August 08, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $93.97M $83.38M $59.14M
YoY Change 45.4% 40.99% 18.0%
Cost Of Revenue $75.34M $67.98M $47.95M
YoY Change 44.18% 41.77% 16.16%
Gross Profit $18.63M $15.40M $11.18M
YoY Change 50.57% 37.66% 26.63%
Gross Profit Margin 19.82% 18.47% 18.91%
Selling, General & Admin $6.116M $5.758M $5.055M
YoY Change 22.32% 13.91% 39.22%
% of Gross Profit 32.83% 37.4% 45.2%
Research & Development $4.501M $3.745M $2.289M
YoY Change 38.49% 63.61% 26.6%
% of Gross Profit 24.16% 24.32% 20.47%
Depreciation & Amortization $1.440M $1.200M $390.0K
YoY Change 269.23% 207.69% 62.5%
% of Gross Profit 7.73% 7.79% 3.49%
Operating Expenses $11.11M $9.503M $7.344M
YoY Change 34.65% 29.4% 35.02%
Operating Profit $7.519M $5.893M $3.840M
YoY Change 82.41% 53.46% 13.17%
Interest Expense $407.0K $381.0K $241.0K
YoY Change 201.48% 58.09% -16.9%
% of Operating Profit 5.41% 6.47% 6.28%
Other Income/Expense, Net $3.625M $240.0K -$4.701M
YoY Change -128.5% -105.11% -770.61%
Pretax Income $11.14M $6.133M -$861.0K
YoY Change -229.6% -812.31% -121.03%
Income Tax $3.996M $2.250M $1.239M
% Of Pretax Income 35.86% 36.69%
Net Earnings $7.148M $3.883M -$2.100M
YoY Change -171.62% -284.9% -170.92%
Net Earnings / Revenue 7.61% 4.66% -3.55%
Basic Earnings Per Share $0.66 $0.37 -$0.23
Diluted Earnings Per Share $0.56 $0.34 -$0.23
COMMON SHARES
Basic Shares Outstanding 10.73M shares 10.56M shares 9.217M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.600M $5.700M $1.400M
YoY Change -8.43% 307.14% 133.33%
Cash & Equivalents $7.600M $5.700M $1.400M
Short-Term Investments
Other Short-Term Assets $6.900M $8.500M $4.700M
YoY Change 27.78% 80.85% 27.03%
Inventory $83.24M $78.60M $47.93M
Prepaid Expenses
Receivables $68.89M $56.30M $35.06M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $166.6M $149.1M $89.14M
YoY Change 62.56% 67.26% 11.85%
LONG-TERM ASSETS
Property, Plant & Equipment $19.51M $18.54M $9.937M
YoY Change 72.06% 86.57% 91.1%
Goodwill $23.34M $23.55M
YoY Change
Intangibles $21.78M $22.27M
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.879M $4.921M $1.281M
YoY Change 186.49% 284.15% -32.58%
Total Long-Term Assets $69.50M $68.10M $11.22M
YoY Change 432.96% 507.09% 60.26%
TOTAL ASSETS
Total Short-Term Assets $166.6M $149.1M $89.14M
Total Long-Term Assets $69.50M $68.10M $11.22M
Total Assets $236.1M $217.2M $100.4M
YoY Change 104.38% 116.42% 15.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $46.40M $38.60M $23.50M
YoY Change 93.33% 64.26% -31.69%
Accrued Expenses $11.80M $8.800M $4.919M
YoY Change 66.57% 78.9% 22.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.667M $1.667M
YoY Change
Total Short-Term Liabilities $59.86M $57.12M $28.61M
YoY Change 92.73% 99.67% -27.03%
LONG-TERM LIABILITIES
Long-Term Debt $2.778M $3.194M $37.20M
YoY Change -77.41% -91.41%
Other Long-Term Liabilities $855.0K $868.0K $599.0K
YoY Change 46.66% 44.91% -97.82%
Total Long-Term Liabilities $3.633M $4.062M $599.0K
YoY Change 523.16% 578.13% -97.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.86M $57.12M $28.61M
Total Long-Term Liabilities $3.633M $4.062M $599.0K
Total Liabilities $153.9M $148.4M $76.46M
YoY Change 139.67% 94.14% 13.78%
SHAREHOLDERS EQUITY
Retained Earnings $12.27M $4.164M $11.09M
YoY Change 1011.32% -62.44%
Common Stock $74.21M $68.85M $17.07M
YoY Change 36.25% 303.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.250M $4.250M $4.250M
YoY Change 0.0% 0.0%
Treasury Stock Shares 830.9K shares 830.9K shares 830.9K shares
Shareholders Equity $82.23M $68.76M $23.90M
YoY Change
Total Liabilities & Shareholders Equity $236.1M $217.2M $100.4M
YoY Change 104.38% 116.42% 15.75%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $7.148M $3.883M -$2.100M
YoY Change -171.62% -284.9% -170.92%
Depreciation, Depletion And Amortization $1.440M $1.200M $390.0K
YoY Change 269.23% 207.69% 62.5%
Cash From Operating Activities $690.0K -$3.520M -$2.830M
YoY Change -185.19% 24.38% 13.65%
INVESTING ACTIVITIES
Capital Expenditures -$2.330M -$1.640M -$1.950M
YoY Change 37.06% -15.9% 109.68%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$44.47M
YoY Change -100.0%
Cash From Investing Activities -$2.330M -$46.11M -$1.950M
YoY Change 5.91% 2264.62% 109.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.540M 51.68M 5.920M
YoY Change -64.28% 772.97% 53.77%
NET CHANGE
Cash From Operating Activities 690.0K -3.520M -2.830M
Cash From Investing Activities -2.330M -46.11M -1.950M
Cash From Financing Activities 3.540M 51.68M 5.920M
Net Change In Cash 1.900M 2.050M 1.140M
YoY Change -72.46% 79.82% 165.12%
FREE CASH FLOW
Cash From Operating Activities $690.0K -$3.520M -$2.830M
Capital Expenditures -$2.330M -$1.640M -$1.950M
Free Cash Flow $3.020M -$1.880M -$880.0K
YoY Change 239.33% 113.64% -43.59%

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dei Trading Symbol
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dei Entity Registrant Name
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Power Solutions International, Inc.
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BusinessAcquisitionDateOfAcquisitionAgreement1
2014-04-01
us-gaap Basic Earnings Per Share Adjustment Pro Forma
BasicEarningsPerShareAdjustmentProForma
us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>1. Description of the company and business operations</b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Description of the company</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Power Solutions International, Inc., a Delaware corporation, (&#x201C;Company&#x201D;), is the successor in a migratory merger (&#x201C;Migratory Merger&#x201D;) effective August&#xA0;26, 2011, to Power Solutions International, Inc., a Nevada corporation. &#x201C;Power Solutions International&#x201D; and &#x201C;PSI&#x201D; 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.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Power Solutions International, Inc., a Nevada corporation, was formerly known as Format, Inc. (&#x201C;Format&#x201D;), 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 (&#x201C;SEC&#x201D;) and in providing limited commercial printing services. On April&#xA0;29, 2011, Format consummated a reverse acquisition transaction with The W Group, Inc. and its subsidiaries (&#x201C;The W Group&#x201D;) (&#x201C;Reverse Recapitalization&#x201D;), and in connection with this transaction, Format changed its corporate name to Power Solutions International, Inc. The W Group was considered the accounting acquirer and remained as the surviving corporation of the reverse acquisition, becoming a wholly-owned subsidiary of Power Solutions International, Inc.</p> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Nature of business operations</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The Company is a global producer and distributor of a broad range of high performance, certified low emission, power systems, including alternative fuel power systems, for original equipment manufacturers of off-highway industrial equipment (&#x201C;industrial OEMs&#x201D;) and large custom-engineered integrated electrical power generation systems. The Company&#x2019;s customers include large, industry-leading and/or multinational organizations. The Company&#x2019;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.</p> <p style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> The Company&#x2019;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&#x2019;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 produces an internally-designed engine, all of which engines are then integrated into the Company&#x2019;s power systems. Additionally, the Company is 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 purchased engines) embody proprietary intellectual property of the Company&#x2019;s suppliers. As a result of its design and manufacturing capabilities, the Company is able to provide its customers with a comprehensive power system which can be incorporated, using a single part number, directly into a customer&#x2019;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 &#x201C;green&#x201D; 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.</p> </div>
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.59
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.325 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Effective Income Tax Rate Reconciliation Tax Settlements Domestic
EffectiveIncomeTaxRateReconciliationTaxSettlementsDomestic
0.370 pure
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-14144000
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.56
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>4. Recently issued accounting pronouncements</b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> 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. In May of 2014, the FASB and International Accounting Standards Board jointly issued a final standard on revenue recognition which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. This standard will supersede most current revenue recognition guidance. Under the new standard, entities are required to identify the contract with a customer; identify the separate performance obligations in the contract; determine the transaction price; allocate the transaction price to the separate performance obligations in the contract; and recognize the appropriate amount of revenue when (or as) the entity satisfies each performance obligation. The standard is effective for fiscal years, and the interim periods within those years, beginning on or after January&#xA0;1, 2017. Entities have the option of using either retrospective transition or a modified approach in applying the new standard. The Company is currently evaluating the approach it will use to apply the new standard and the impact that the adoption of the new standard will have on the Company&#x2019;s unaudited condensed consolidated financial statements. Other than the final standard on revenue recognition, there were no new accounting pronouncements that have been issued or adopted during the three months ended June&#xA0;30, 2014, that are expected to have a significant effect on the Company&#x2019;s unaudited condensed consolidated financial statements.</p> </div>
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P12M
us-gaap Business Combination Contingent Consideration Arrangements Description
BusinessCombinationContingentConsiderationArrangementsDescription
A five percentage point decrease in the volatility factor would result in an increase in the fair value of the contingent consideration by approximately $50,000.
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
-270000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
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-332000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3686000
us-gaap Gross Profit
GrossProfit
27326000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2525000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
150113000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
44122000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-75000
us-gaap Repayments Of Debt
RepaymentsOfDebt
139000
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
350000
us-gaap Operating Income Loss
OperatingIncomeLoss
9414000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
6199000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
155293000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
11104000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3279000
psix Inventory Step Up
InventoryStepUp
482000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-60000
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
6480000
us-gaap Interest Paid
InterestPaid
290000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
340000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10091000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9310000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
677000
us-gaap Net Income Loss
NetIncomeLoss
6812000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
18455000
us-gaap Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
126000
us-gaap Dividend Income Operating
DividendIncomeOperating
0
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-100000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2415000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-332000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6404000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
60431000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
50000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
122787000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-600000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
4165000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-2191000
us-gaap Interest Expense
InterestExpense
480000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-27000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-351000
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
7343000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46887000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1685000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
5000000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
2462000
us-gaap Operating Expenses
OperatingExpenses
17912000
psix Contributions To Joint Venture
ContributionsToJointVenture
850000
psix Increase Decrease In Share Based Compensation
IncreaseDecreaseInShareBasedCompensation
663000
psix Expenses On Stock Appreciation Rights
ExpensesOnStockAppreciationRights
228000
psix Effective Income Tax Rate Excluding Private Placement Expense
EffectiveIncomeTaxRateExcludingPrivatePlacementExpense
0.370 pure
psix Service Period Associated With Stock Appreciation Rights Market Condition
ServicePeriodAssociatedWithStockAppreciationRightsMarketCondition
P1Y9M11D
psix Commitment Towards Investments In Joint Venture
CommitmentTowardsInvestmentsInJointVenture
1200000
psix Increase Decrease In Contingent Liability
IncreaseDecreaseInContingentLiability
-900000
psix Estimated Share Based Compensation Expense
EstimatedShareBasedCompensationExpense
1800000
psix Noncash Or Part Noncash Unpaid Property Plant Equipment And Other Assets
NoncashOrPartNoncashUnpaidPropertyPlantEquipmentAndOtherAssets
1594000
psix Proceeds From Exercise Of Private Placement Warrants
ProceedsFromExerciseOfPrivatePlacementWarrants
1425000
psix Valuation Of Company Common Stock Under Sar Plan Description
ValuationOfCompanyCommonStockUnderSarPlanDescription
Commenced after the SAR Grant Date and prior to the expiration date
psix Business Acquisition Contingent Consideration
BusinessAcquisitionContingentConsideration
900000
psix Fair Value Measurement With Unobservable Inputs Change In Warrant Liability Due To Exercise Of Private Placement Warrants
FairValueMeasurementWithUnobservableInputsChangeInWarrantLiabilityDueToExerciseOfPrivatePlacementWarrants
-7320000
psix Non Cash In Flow Associated With Change In Fair Value Associated With Exercised Warrants
NonCashInFlowAssociatedWithChangeInFairValueAssociatedWithExercisedWarrants
7320000
psix Noncash Interest Expense
NoncashInterestExpense
38000
psix Increase Decrease In Inventory Reserve
IncreaseDecreaseInInventoryReserve
-434000
psix Stock Option Granted Period Of Expiry From Grant Date
StockOptionGrantedPeriodOfExpiryFromGrantDate
P10Y
CY2012Q2 us-gaap Fair Value Assumptions Expected Volatility Rate
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0.550 pure
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CY2014Q2 us-gaap Gross Profit
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CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
83378000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
5893000
CY2014Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
4339000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
6459000
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
566000
CY2014Q2 us-gaap Net Income Loss
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4438000
CY2014Q2 us-gaap Fair Value Adjustment Of Warrants
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-99000
CY2014Q2 us-gaap General And Administrative Expense
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3420000
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67982000
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2338000
CY2014Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
120000
CY2014Q2 us-gaap Interest Expense
InterestExpense
381000
CY2014Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
3745000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
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CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2021000
CY2014Q2 psix Expenses On Stock Appreciation Rights
ExpensesOnStockAppreciationRights
105000
CY2014Q2 psix Business Acquisition Contingent Consideration
BusinessAcquisitionContingentConsideration
900000
CY2014Q2 psix Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Change In Fair Value Of Contingent Consideration
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisChangeInFairValueOfContingentConsideration
-900000
CY2013Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
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-0.25
CY2013Q2 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
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CY2013Q2 us-gaap Gross Profit
GrossProfit
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59138000
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
17000
CY2013Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-270000
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3840000
CY2013Q2 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-2343000
CY2013Q2 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
67567000
CY2013Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-2100000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-861000
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NonoperatingIncomeExpense
-4701000
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4207000
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GeneralAndAdministrativeExpense
2966000
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47954000
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CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1239000
CY2013Q2 psix Expenses On Stock Appreciation Rights
ExpensesOnStockAppreciationRights
450000

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