Consolidated Statements of Operations and Comprehensive Income | |||||||||||||||
(Unaudited) | |||||||||||||||
Three months ended | Nine months ended | ||||||||||||||
(Expressed in thousands of U.S. dollars, except number of
shares and per share amounts) |
September 29,
2019 |
September 30,
2018 |
September 29,
2019 |
September 30,
2018 | |||||||||||
Revenue | $ | 88,682 | $ | 53,677 | $ | 282,267 | $ | 135,276 | |||||||
Cost of sales | 79,776 | 48,440 | 255,740 | 121,906 | |||||||||||
Gross profit | 8,906 | 5,237 | 26,527 | 13,370 | |||||||||||
Selling, general and administrative expenses | 6,549 | 3,682 | 19,908 | 10,838 | |||||||||||
Change in fair value of contingent consideration | - | - | (3,050 | ) | - | ||||||||||
Change in fair value of warrant liability | (858 | ) | - | (919 | ) | - | |||||||||
Write-down of property,plant and equipment | - | - | - | - | |||||||||||
Loss on disposal of property,plant and equipment | - | 3 | - | 3 | |||||||||||
Restructuring charges | 6,454 | 58 | 8,624 | 154 | |||||||||||
Operating earnings (loss) | (3,239 | ) | 1,494 | 1,964 | 2,375 | ||||||||||
Interest expense | 2,679 | 485 | 8,349 | 1,195 | |||||||||||
Income (loss) before income taxes | (5,918 | ) | 1,009 | (6,385 | ) | 1,180 | |||||||||
Income tax expense (recovery) | |||||||||||||||
Current | (103 | ) | 290 | 592 | 596 | ||||||||||
Deferred | (81 | ) | (145 | ) | 14 | (191 | ) | ||||||||
(184 | ) | 145 | 606 | 405 | |||||||||||
Net income (loss) and comprehensive income (loss) | $ | (5,734 | ) | $ | 864 | $ | (6,991 | ) | $ | 775 | |||||
Basic income (loss) per share | $ | (0.20 | ) | $ | 0.04 | $ | (0.28 | ) | $ | 0.04 | |||||
Diluted income (loss) per share | $ | (0.20 | ) | $ | 0.04 | $ | (0.28 | ) | $ | 0.04 | |||||
Weighted average number of shares outstanding | |||||||||||||||
Basic | 28,057,763 | 19,335,253 | 24,954,875 | 17,866,399 | |||||||||||
Diluted | 28,057,763 | 19,986,756 | 24,954,875 | 18,517,902 | |||||||||||