FORMFACTOR, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
| Six Months Ended | |||||||
| June 29, 2019 | June 30, 2018 | ||||||
| Net income | $ | 12,431 | $ | 11,248 | |||
| Selected adjustments to reconcile net income to net cash provided by operating activities: | |||||||
| Depreciation | 8,289 | 6,893 | |||||
| Amortization | 14,169 | 14,364 | |||||
| Stock-based compensation expense | 10,584 | 7,884 | |||||
| Provision for excess and obsolete inventories | 5,304 | 4,593 | |||||
| Other activity impacting operating cash flows | 4,711 | (14,924 | ) | ||||
| Net cash provided by operating activities | 55,488 | 30,058 | |||||
| Cash flows from investing activities: | |||||||
| Acquisition of property, plant and equipment | (11,460 | ) | (8,545 | ) | |||
| Proceeds (purchases) of marketable securities, net | (1,066 | ) | 1,542 | ||||
| Other activity impacting investing cash flows | (56 | ) | 41 | ||||
| Net cash used in investing activities | (12,582 | ) | (6,962 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from issuances of common stock | 3,870 | 4,754 | |||||
| Tax withholdings related to net share settlements of equity awards | (2,157 | ) | (2,453 | ) | |||
| Principal repayments on term loan | (18,750 | ) | (21,250 | ) | |||
| Net cash used in financing activities | (17,037 | ) | (18,949 | ) | |||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 279 | (58 | ) | ||||
| Net increase in cash, cash equivalents and restricted cash | 26,148 | 4,089 | |||||
| Cash, cash equivalents and restricted cash, beginning of period | 100,546 | 92,726 | |||||
| Cash, cash equivalents and restricted cash, end of period | $ | 126,694 | $ | 96,815 | |||
FORMFACTOR, INC.
