10-Q Filing

PULSE ELECTRONICS CORP CIK: 96763 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0001140361-11-026189`
Period End Date	20110331
Filing Date	20110510
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	puls-20110401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 52 Cash Flow Statement 62 Stockholders Equity 11

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.98M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$65.53M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$54.94M	USD	Point-in-time
Inventory	`InventoryNet`	$35.74M	USD	Point-in-time
Inventory	`InventoryNet`	$35.45M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$14.80M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssets`	$13.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$133.42M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$151.98M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$112.33M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$113.14M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$82.46M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$82.30M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$30.03M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$30.68M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$36.35M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$33.67M	USD	Point-in-time
Intangibles assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.66M	USD	Point-in-time
Intangibles assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.29M	USD	Point-in-time
Other assets	`OtherAssets`	$2.32M	USD	Point-in-time
Other assets	`OtherAssets`	$2.61M	USD	Point-in-time
Total Assets	`Assets`	$224.60M	USD	Point-in-time
Total Assets	`Assets`	$207.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.39M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$46.10M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$54.60M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$52.15M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$100.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$91.54M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$32.15M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$32.15M	USD	Point-in-time
Convertible senior notes	`ConvertibleLongTermNotesPayable`	$50.00M	USD	Point-in-time
Convertible senior notes	`ConvertibleLongTermNotesPayable`	$50.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$8.89M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$8.89M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$9.92M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$10.08M	USD	Point-in-time
Common stock and additional paid-in capital	`CommonStockIncludingAdditionalPaidInCapital`	$219.39M	USD	Point-in-time
Common stock and additional paid-in capital	`CommonStockIncludingAdditionalPaidInCapital`	$218.95M	USD	Point-in-time
Retained loss	`RetainedEarningsAccumulatedDeficit`	$-232.66M	USD	Point-in-time
Retained loss	`RetainedEarningsAccumulatedDeficit`	$-237.09M	USD	Point-in-time
Accumulated other comprehensive earnings	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$23.99M	USD	Point-in-time
Accumulated other comprehensive earnings	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$24.74M	USD	Point-in-time
Total Pulse Electronics Corporation shareholders' equity	`StockholdersEquity`	$10.73M	USD	Point-in-time
Total Pulse Electronics Corporation shareholders' equity	`StockholdersEquity`	$6.60M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$12.05M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$8.32M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.92M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.77M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$207.41M	USD	Point-in-time
Total Liabilities and Equity	`LiabilitiesAndStockholdersEquity`	$224.60M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$92.86M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$88.04M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$73.27M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$69.61M	USD	1 Quarter
Gross profit	`GrossProfit`	$18.42M	USD	1 Quarter
Gross profit	`GrossProfit`	$19.59M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$22.70M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$21.54M	USD	1 Quarter
Severance, impairment and other associated costs	`RestructuringSettlementAndImpairmentProvisions`	$27.33M	USD	1 Quarter
Severance, impairment and other associated costs	`RestructuringSettlementAndImpairmentProvisions`	$6.76M	USD	1 Quarter
Cost related to unsolicited takeover attempt	`CostRelatedToUnsolicitedTakeoverAttempt`	$430.00K	USD	1 Quarter
Cost related to unsolicited takeover attempt	`CostRelatedToUnsolicitedTakeoverAttempt`	-	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-10.30M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-30.43M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.29M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.35M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$-5.90M	USD	1 Quarter
Other income (expense), net	`NonoperatingIncomeExpense`	$1.54M	USD	1 Quarter
Total other income (expense)	`TotalOtherExpenseIncome`	$-7.25M	USD	1 Quarter
Total other income (expense)	`TotalOtherExpenseIncome`	$249.00K	USD	1 Quarter
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-37.69M	USD	1 Quarter
Loss from continuing operations before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-10.05M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-5.07M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-2.14M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-35.54M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest`	$-4.99M	USD	1 Quarter
Net earnings (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$612.00K	USD	1 Quarter
Net earnings (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-18.08M	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.38M	USD	1 Quarter
Net loss	`ProfitLoss`	$-53.62M	USD	1 Quarter
Less: Net earnings attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$307.00K	USD	1 Quarter
Less: Net earnings attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$48.00K	USD	1 Quarter
Net loss attributable to Pulse Electronics Corporation	`NetIncomeLoss`	$-4.42M	USD	1 Quarter
Net loss attributable to Pulse Electronics Corporation	`NetIncomeLoss`	$-53.93M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-5.04M	USD	1 Quarter
Net loss from continuing operations	`IncomeLossFromContinuingOperations`	$-35.85M	USD	1 Quarter
Net earnings (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$612.00K	USD	1 Quarter
Net earnings (loss) from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity`	$-18.08M	USD	1 Quarter
Net loss attributable to Pulse Electronics Corporation	`NetIncomeLoss`	$-53.93M	USD	1 Quarter
Net loss attributable to Pulse Electronics Corporation	`NetIncomeLoss`	$-4.42M	USD	1 Quarter
Net loss from continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.12	USD	1 Quarter
Net loss from continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.88	USD	1 Quarter
Net earnings (loss) from discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$-0.44	USD	1 Quarter
Net earnings (loss) from discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare`	$0.01	USD	1 Quarter
Net loss attributable to Pulse Electronics Corporation (in dollars per share)	`EarningsPerShareBasic`	$-1.32	USD	1 Quarter
Net loss attributable to Pulse Electronics Corporation (in dollars per share)	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Net loss from continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.12	USD	1 Quarter
Net loss from continuing operations (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.88	USD	1 Quarter
Net earnings (loss) from discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$-0.44	USD	1 Quarter
Net earnings (loss) from discontinued operations (in dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare`	$0.01	USD	1 Quarter
Net loss attributable to Pulse Electronics Corporation (in dollars per share)	`EarningsPerShareDiluted`	$-1.32	USD	1 Quarter
Net loss attributable to Pulse Electronics Corporation (in dollars per share)	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-4.38M	USD	1 Quarter
Net loss	`ProfitLoss`	$-53.62M	USD	1 Quarter
(Earnings) loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$612.00K	USD	1 Quarter
(Earnings) loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-18.08M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.31M	USD	1 Quarter
Goodwill and intangible asset impairment, net of income taxes	`GoodwillAndIntangibleAssetImpairmentNetOfIncomeTaxes`	-	USD	1 Quarter
Goodwill and intangible asset impairment, net of income taxes	`GoodwillAndIntangibleAssetImpairmentNetOfIncomeTaxes`	$24.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$7.52M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.91M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$174.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$501.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$581.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$117.00K	USD	1 Quarter
Accounts payable and accrued expenses	`ChangeInAccountsPayable`	$-16.09M	USD	1 Quarter
Accounts payable and accrued expenses	`ChangeInAccountsPayable`	$1.41M	USD	1 Quarter
Severance, impairment and other associated costs, net of cash	`RestructuringCostsAndAssetImpairmentCharges`	$4.52M	USD	1 Quarter
Severance, impairment and other associated costs, net of cash	`RestructuringCostsAndAssetImpairmentCharges`	$385.00K	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$353.00K	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$153.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.59M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.28M	USD	1 Quarter
Cash received from dispositions, net	`ProceedsFromDivestitureOfBusinesses`	$1.25M	USD	1 Quarter
Cash received from dispositions, net	`ProceedsFromDivestitureOfBusinesses`	$1.08M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.92M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$365.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$40.00K	USD	1 Quarter
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Foreign currency impact on intercompany lending	`ForeignCurrencyImpactOnIntercompanyLending`	$880.00K	USD	1 Quarter
Foreign currency impact on intercompany lending	`ForeignCurrencyImpactOnIntercompanyLending`	$-5.73M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.85M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$75.00K	USD	1 Quarter
Credit facility borrowings	`LineOfCreditFacilityIncreaseAdditionalBorrowings`	$-10.00M	USD	1 Quarter
Credit facility borrowings	`LineOfCreditFacilityIncreaseAdditionalBorrowings`	-	USD	1 Quarter
Principal payments on credit facility	`PrincipalPaymentsOnCreditFacility`	$-4.35M	USD	1 Quarter
Principal payments on credit facility	`PrincipalPaymentsOnCreditFacility`	$-10.00M	USD	1 Quarter
Purchases of shares in non-controlling interest	`PurchasesOfSharesInNonControllingInterest`	-	USD	1 Quarter
Purchases of shares in non-controlling interest	`PurchasesOfSharesInNonControllingInterest`	$3.43M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$1.04M	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$1.03M	USD	1 Quarter
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-4.47M	USD	1 Quarter
Net cash used in financing activities	`CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations`	$-5.38M	USD	1 Quarter
Net effect of exchange rate changes on cash from continuing operations:	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-84.00K	USD	1 Quarter
Net effect of exchange rate changes on cash from continuing operations:	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-30.00K	USD	1 Quarter
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net cash used in operating activities	`CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations`	$-4.32M	USD	1 Quarter
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	$-412.00K	USD	1 Quarter
Net cash used in investing activities	`CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations`	-	USD	1 Quarter
Net effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsDiscontinuedOperations`	$-276.00K	USD	1 Quarter
Net effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalentsDiscontinuedOperations`	-	USD	1 Quarter
Net decrease in cash and cash equivalents from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	-	USD	1 Quarter
Net decrease in cash and cash equivalents from discontinued operations	`NetCashProvidedByUsedInDiscontinuedOperations`	$-5.01M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.73M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.70M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.91M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$29.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$39.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$39.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.98M	USD	Point-in-time

Stockholders Equity 11 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.92M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.77M	USD	Point-in-time
Stock options, awards and related compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$250.00K	USD	1 Quarter
Dividends declared	`Dividends`	$-1.04M	USD	1 Quarter
Purchases of shares in non-controlling interest	`PurchasesOfSharesNonControllingInterest`	$-3.43M	USD	1 Quarter
Net loss	`ProfitLoss`	$-4.38M	USD	1 Quarter
Net loss	`ProfitLoss`	$-53.62M	USD	1 Quarter
Currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$743.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.92M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$22.77M	USD	Point-in-time

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