| Consolidated Balance Sheets | |||||||||
| (Unaudited) | |||||||||
| (Expressed in thousands of U.S. dollars) | January 3, 2021 | December 29, 2019 | |||||||
| Assets | |||||||||
| Current assets: | |||||||||
| Cash | $ | 600 | $ | 1,368 | |||||
| Accounts receivable - net | 69,627 | 69,919 | |||||||
| Unbilled contract assets | 39,336 | 26,271 | |||||||
| Inventories - net | 49,799 | 47,826 | |||||||
| Prepaid expenses and other assets | 7,872 | 7,044 | |||||||
| Derivative assets | 1,055 | - | |||||||
| Income taxes receivable | 307 | - | |||||||
| 168,596 | 152,428 | ||||||||
| Property, plant and equipment - net | 24,305 | 25,310 | |||||||
| Operating lease right of use assets - net | 7,791 | 3,330 | |||||||
| Goodwill | 18,165 | 18,165 | |||||||
| Intangible assets - net | 9,701 | 12,747 | |||||||
| Deferred income taxes - net | 569 | 540 | |||||||
| Deferred financing costs - net | 812 | 859 | |||||||
| Total assets | $ | 229,939 | $ | 213,379 | |||||
| Liabilities and Shareholders' Equity | |||||||||
| Current liabilities: | |||||||||
| Revolving credit facility | 34,694 | 34,701 | |||||||
| Accounts payable | 72,608 | 74,126 | |||||||
| Accrued liabilities | 21,946 | 11,164 | |||||||
| Warrant liability | 3,233 | 1,730 | |||||||
| Restructuring liability | 2,443 | 1,597 | |||||||
| Income taxes payable | 478 | 157 | |||||||
| Current portion of long-term debt | 2,500 | 1,250 | |||||||
| Current portion of operating lease obligations | 2,590 | 1,128 | |||||||
| Current portion of finance lease obligations | 2,245 | 1,226 | |||||||
| 142,737 | 127,079 | ||||||||
| Long-term debt | 30,930 | 33,750 | |||||||
| Operating lease obligations | 5,590 | 2,615 | |||||||
| Finance lease obligations | 9,492 | 8,838 | |||||||
| Total liabilities | 188,749 | 172,282 | |||||||
| Shareholders equity: | |||||||||
| Capital stock | 511 | 508 | |||||||
| Additional paid-in capital | 294,060 | 293,389 | |||||||
| Deficit | (253,381 | ) | (252,800 | ) | |||||
| 41,190 | 41,097 | ||||||||
| Total liabilities and shareholders' equity | $ | 229,939 | $ | 213,379 | |||||
SMTC Corporation Announces Fourth Quarter and Full Year 2020 Financial Results
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