SMTC Corporation Announces Fourth Quarter and Full Year 2020

SMTC Corporation Announces Fourth Quarter and Full Year 2020 Financial Results

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

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