SMTC Corporation Reports Strong Second Quarter Growth
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Consolidated Balance Sheets | | | | | | | | (Unaudited) | | | | | | | | | | | | | | | | (Expressed in thousands of U.S. dollars) |
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July 1,
2018 |
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December 31,
2017 | | |
Assets |
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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 |
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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 | | | | | | | | | | |
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