| 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 | ||
SMTC Corporation Reports Third Quarter Results
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