Consolidated Balance Sheets | ||||||||||
(Unaudited) | ||||||||||
(Expressed in thousands of U.S. dollars) |
July 1,
2018 |
December 31,
2017 | ||||||||
Assets | ||||||||||
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 | ||||||||||
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 | ||||||