Third Quarter Fiscal 2018 Results
Condensed Consolidated Balance Sheets
(Unaudited)
| (In thousands) | Dec 30, 2017 | Sep 30, 2017 | Apr 1, 2017 | ||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 62,251 | $ | 47,973 | $ | 56,642 | |||||
| Short-term investments | 36,824 | 32,802 | 5,743 | ||||||||
| Trade receivables, net | 75,674 | 47,565 | 40,494 | ||||||||
| Inventories | 74,502 | 61,423 | 58,942 | ||||||||
| Shipped systems pending acceptance | 5,780 | 7,765 | 5,713 | ||||||||
| Other current assets | 5,116 | 5,309 | 6,180 | ||||||||
| Total current assets | 260,147 | 202,837 | 173,714 | ||||||||
| Non-current assets: | |||||||||||
| Property, plant and equipment, net | 19,732 | 18,874 | 21,619 | ||||||||
| Goodwill | 2,626 | 2,626 | 3,027 | ||||||||
| Acquired intangible assets, net | 5,525 | 5,883 | 6,564 | ||||||||
| Income taxes receivable | 935 | — | — | ||||||||
| Other assets(1) | 17,339 | 17,819 | 19,821 | ||||||||
| Total assets | $ | 306,304 | $ | 248,039 | $ | 224,745 | |||||
| Liabilities and shareholders' equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 38,577 | $ | 24,378 | $ | 21,213 | |||||
| Accrued liabilities | 40,391 | 32,050 | 22,186 | ||||||||
| Deferred revenue | 11,982 | 15,782 | 14,712 | ||||||||
| Total current liabilities | 90,950 | 72,210 | 58,111 | ||||||||
| Non-current liabilities | |||||||||||
| Long-term debt | 12,875 | 12,982 | 13,489 | ||||||||
| Income taxes payable | 1,587 | 1,285 | 1,036 | ||||||||
| Other liabilities | 10,085 | 7,956 | 7,578 | ||||||||
| Total liabilities | 115,497 | 94,433 | 80,214 | ||||||||
| Shareholders' equity: | |||||||||||
| Preferred and common stock | 211,330 | 208,670 | 207,152 | ||||||||
| Accumulated deficit | (20,273 | ) | (54,246 | ) | (61,407 | ) | |||||
| Accumulated other comprehensive loss | (250 | ) | (818 | ) | (1,214 | ) | |||||
| Total shareholders' equity | 190,807 | 153,606 | 144,531 | ||||||||
| Total liabilities and shareholders' equity | $ | 306,304 | $ | 248,039 | $ | 224,745 | |||||
| End of period shares outstanding | 34,309 | 34,067 | 33,260 | ||||||||
| (1) Included in Other assets is long-term restricted cash of $1.1 million each on Dec 30, 2017, Sep 30, 2017 and Apr 1, 2017. | |||||||||||
Electro Scientific Industries, Inc.
