Pioneer Power Solutions, Inc. (PPSI) financial statements (2022 and earlier)

Company profile

Business Address 400 KELBY STREET, 12TH FLOOR
FORT LEE, NJ 07024
State of Incorp. DE
Fiscal Year End December 31
SIC 3612 - Power, Distribution, and Specialty Transformers (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9,9247,5679,149211218246648
Cash and cash equivalents9,9247,5678,213211218246648
Short-term investments  936    
Restricted cash and investments1,775      
Receivables8,2072,9943,71616,89314,17517,58014,799
Inventory, net of allowances, customer advances and progress billings4,1602,4034,55427,31023,19226,14717,663
Inventory4,1602,4034,55427,31023,19226,14717,663
Disposal group, including discontinued operation    6,944  
Other current assets   600600  
Other undisclosed current assets1,0699922,5951,9102,2032,2151,759
Total current assets:25,13513,95620,01446,92447,33246,18834,869
Noncurrent Assets
Finance lease, right-of-use asset  1,253
Property, plant and equipment5164336405,2846,3356,5917,349
Intangible assets, net (including goodwill)  (206)12,11113,44918,14020,024
Goodwill   8,5278,5279,97210,068
Intangible assets, net (excluding goodwill)  (206)3,5844,9228,1689,956
Other noncurrent assets 6,898     
Deferred tax assets, net1,3791,0643,2592,861
Other undisclosed noncurrent assets2,276 6,4186,8141,7103,2301,836
Total noncurrent assets:2,7927,3318,10525,58822,55831,22032,070
TOTAL ASSETS:27,92721,28728,11972,51269,89077,40866,939
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:4,1594,0277,53327,84515,94218,13920,030
Accounts payable2,089      
Accrued liabilities1,263      
Employee-related liabilities270      
Taxes payable 175438731,1641,360237
Other undisclosed accounts payable and accrued liabilities5374,0106,99026,97214,77816,77919,793
Deferred revenue2,4237141,441
Debt 7803742,9436,2125,3528,167
Disposal group, including discontinued operation    3,719  
Other undisclosed current liabilities 1754321,62819,81120,24910,111
Total current liabilities:6,5825,5389,89152,41645,68443,74038,308
Noncurrent Liabilities
Long-term debt and lease obligation 633 2,6194,1534,00521
Long-term debt, excluding current maturities 633 2,6194,1534,00521
Liabilities, other than long-term debt1,7931,2571,7935,5262,5513,4641,216
Deferred tax liabilities, net1,5921,6652,400781
Liability, pension and other postretirement and postemployment benefits   14828317263
Other liabilities1,7931,2571,7933,786603892372
Total noncurrent liabilities:1,7931,8901,7938,1456,7047,4691,237
Total liabilities:8,3757,42811,68460,56152,38851,20939,545
Stockholders' equity
Stockholders' equity attributable to parent19,55213,85916,43511,95117,50226,19927,394
Common stock10999999
Additional paid in capital31,84023,98123,97823,96623,80123,21523,153
Accumulated other comprehensive income (loss)141414(5,897)(5,802)(5,863)(5,669)
Retained earnings (accumulated deficit)(12,312)(10,145)(7,566)(6,127)(506)8,8389,901
Total stockholders' equity:19,55213,85916,43511,95117,50226,19927,394
TOTAL LIABILITIES AND EQUITY:27,92721,28728,11972,51269,89077,40866,939

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues18,31119,49020,582106,390101,390114,402106,522
Cost of revenue(16,918)(18,609)(19,417)(87,139)(81,400)(90,991)(85,417)
Cost of goods and services sold (18,609)(19,417)(87,139)(81,400)(90,991)(85,417)
Gross profit:1,3938811,16519,25119,99023,41121,105
Operating expenses(5,255)(5,165)(12,918)(21,124)(16,603)(22,056)(26,405)
Operating income (loss):(3,862)(4,284)(11,753)(1,873)3,3871,355(5,300)
Nonoperating income (expense) 9691,490(826)(229)205(2,535)
Investment income, nonoperating  4,207    
Other nonoperating income (expense) 969(2,817)(826)(229)205(2,535)
Interest and debt expense1,417(62)(396)(2,662)(2,301)(1,736)(748)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 396(100)    
Income (loss) from continuing operations before equity method investments, income taxes:(2,445)(2,981)(10,759)(5,361)857(176)(8,583)
Other undisclosed income from continuing operations before income taxes262      
Income (loss) from continuing operations before income taxes:(2,183)(2,981)(10,759)(5,361)857(176)(8,583)
Income tax expense (benefit)16(5)(1,278)(303)(3,554)(887)2,702
Loss from continuing operations:(2,167)(2,986)(12,037)(5,664)(2,697)(1,063)(5,881)
Income (loss) from discontinued operations  10,598 (6,647)  
Net loss available to common stockholders, diluted:(2,167)(2,986)(1,439)(5,664)(9,344)(1,063)(5,881)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net loss:(2,167)(2,986)(1,439)(5,664)(9,344)(1,063)(5,881)
Other comprehensive income (loss)   (86)135166(170)
Comprehensive loss:(2,167)(2,986)(1,439)(5,750)(9,209)(897)(6,051)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  5,911(13)(74)(360)(2,174)
Comprehensive income (loss), net of tax, attributable to parent:(2,167)(2,986)4,472(5,763)(9,283)(1,257)(8,225)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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