SMTC Corporation Reports Strong Second Quarter Growth

 

       
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    
             

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