| Consolidated Balance Sheets | ||||||||||
| (Unaudited) | ||||||||||
| (Expressed in thousands of U.S. dollars) |
July 1,
2018 |
December 31,
2017 | ||||||||
| Assets | ||||||||||
| Current assets: | ||||||||||
| Cash | $ | 1,953 | $ | 5,536 | ||||||
| Accounts receivable - net | 32,125 | 29,110 | ||||||||
| Unbilled contract assets | 6,808 | - | ||||||||
| Inventories | 25,214 | 22,363 | ||||||||
| Prepaid expenses and other assets | 3,579 | 2,142 | ||||||||
| Derivative assets | - | 37 | ||||||||
| Total current assets | 69,679 | 59,188 | ||||||||
| Property, plant and equipment - net | 11,732 | 10,269 | ||||||||
| Deferred income taxes - net | 351 | 305 | ||||||||
| Deferred financing costs - net | 121 | 94 | ||||||||
| Total assets | $ | 81,883 | $ | 69,856 | ||||||
| Liabilities and Shareholders' Equity | ||||||||||
| Current liabilities: | ||||||||||
| Revolving credit facility | $ | 11,981 | $ | 12,191 | ||||||
| Accounts payable | 34,047 | 25,028 | ||||||||
| Accrued liabilities | 6,188 | 4,877 | ||||||||
| Derivative liabilities | 108 | 375 | ||||||||
| Income taxes payable | - | 48 | ||||||||
| Current portion of long-term debt | 2,000 | 2,000 | ||||||||
| Current portion of equipment facility | 597 | - | ||||||||
| Current portion of capital lease obligations | 346 | 174 | ||||||||
| Total current liabilities | 55,267 | 44,693 | ||||||||
| Equipment facility | 1,297 | - | ||||||||
| Long-term debt | 5,000 | 6,000 | ||||||||
| Capital lease obligations | 450 | 89 | ||||||||
| Total liabilities | 62,014 | 50,782 | ||||||||
| Shareholders’ equity: | ||||||||||
| Capital stock | 399 | 396 | ||||||||
| Additional paid-in capital | 265,916 | 265,355 | ||||||||
| Deficit | (246,446 | ) | (246,677 | ) | ||||||
| 19,869 | 19,074 | |||||||||
| Total liabilities and shareholders' equity | $ | 81,883 | $ | 69,856 | ||||||
SMTC Corporation Reports Strong Second Quarter Growth
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