SMTC Corporation Reports Third Quarter Results
| | |
Consolidated Balance Sheets | | (Unaudited) | | | | | | | | (Expressed in thousands of U.S. dollars) |
September 29,
2019 | |
December 30,
2018 | | |
Assets |
| |
| | | | | | | | |
Current assets: | | | | | | Cash | $ | 601 | | $ | 1,601 | | | Accounts receivable - net | 61,208 | | 72,986 | | | Unbilled contract assets | 26,790 | | 20,405 | | | Inventories - net | 49,535 | | 53,203 | | | Prepaid expenses and other assets | 6,658 | | 5,548 | | | Derivative assets | - | | 15 | | | Income taxes receivable | 358 | | 160 | | | | 145,150 | | 153,918 | | | Property, plant and equipment - net | 26,348 | | 28,160 | | | Operating lease right of use assets - net | 3,887 | | - | | | Goodwill | 18,165 | | 18,165 | | | Intangible assets - net | 14,403 | | 19,935 | | | Deferred financing costs - net | 899 | | 668 | | | Deferred income taxes - net | 366 | | 380 | | | Total assets | $ | 209,218 | | $ | 221,226 | | | | | | | | |
Liabilities and Shareholders' Equity |
| |
| | | | | | | | |
Current liabilities: | | | | | | Revolving credit facility | 34,840 | | $ | 25,020 | | | Accounts payable | 67,082 | | 76,893 | | | Accrued liabilities | 13,387 | | 13,040 | | | Warrant liability | 1,090 | | 2,009 | | | Restructuring liability | 2,736 | | - | | | Contingent consideration | - | | 3,050 | | | Income taxes payable | 94 | | 12 | | | Current portion of long-term debt | 1,250 | | 1,368 | | | Current portion of operating lease obligations | 1,483 | | - | | | Current portion of finance lease obligations | 1,316 | | 1,547 | | | | 123,278 | | 122,939 | | | | | | | | | Long-term debt | 34,154 | | 56,039 | | | Operating lease obligations | 2,818 | | - | | | Finance lease obligations | 9,105 | | 9,947 | | | Total liabilities | 169,355 | | 188,925 | | | | | | | | |
Shareholders’ equity: | | | | | | Capital stock | 507 | | 458 | | | Additional paid-in capital | 293,152 | | 278,648 | | | Deficit | (253,796 | ) | (246,805 | ) | | | 39,863 | | 32,301 | | | Total liabilities and shareholders' equity | $ | 209,218 | | $ | 221,226 | | | | | | | |
|
