| Consolidated Balance Sheets | |||||||
| (Unaudited) | |||||||
| (Expressed in thousands of U.S. dollars) |
September 27,
2020 |
December 29,
2019 | |||||
| Assets | |||||||
| Current assets: | |||||||
| Cash | $ | 169 | $ | 1,368 | |||
| Accounts receivable - net | 73,406 | 69,919 | |||||
| Unbilled contract assets | 42,736 | 26,271 | |||||
| Inventories - net | 51,537 | 47,826 | |||||
| Prepaid expenses and other assets | 6,564 | 7,044 | |||||
| Derivative assets | 720 | - | |||||
| Income taxes receivable | 160 | - | |||||
| 175,292 | 152,428 | ||||||
| Property, plant and equipment - net | 23,397 | 25,310 | |||||
| Operating lease right of use assets - net | 5,897 | 3,330 | |||||
| Goodwill | 18,165 | 18,165 | |||||
| Intangible assets - net | 10,029 | 12,747 | |||||
| Deferred income taxes - net | 555 | 540 | |||||
| Deferred financing costs - net | 742 | 859 | |||||
| Total assets | $ | 234,077 | $ | 213,379 | |||
| Liabilities and Shareholders’ Equity | |||||||
| Current liabilities: | |||||||
| Revolving credit facility | 34,356 | 34,701 | |||||
| Accounts payable | 77,979 | 74,126 | |||||
| Accrued liabilities | 23,125 | 11,164 | |||||
| Warrant liability | 1,745 | 1,730 | |||||
| Restructuring liability | 364 | 1,597 | |||||
| Income taxes payable | 254 | 157 | |||||
| Current portion of long-term debt | 2,188 | 1,250 | |||||
| Current portion of operating lease obligations | 1,452 | 1,128 | |||||
| Current portion of finance lease obligations | 1,818 | 1,226 | |||||
| 143,281 | 127,079 | ||||||
| Long-term debt | 32,513 | 33,750 | |||||
| Operating lease obligations | 5,042 | 2,615 | |||||
| Finance lease obligations | 8,696 | 8,838 | |||||
| Total liabilities | 189,532 | 172,282 | |||||
| Shareholders’ equity: | |||||||
| Capital stock | 508 | 508 | |||||
| Additional paid-in capital | 293,864 | 293,389 | |||||
| Deficit | (249,827 | ) | (252,800 | ) | |||
| 44,545 | 41,097 | ||||||
| Total liabilities and shareholders’ equity | $ | 234,077 | $ | 213,379 | |||
