SMTC Corporation Announces Third Quarter Results



Supplementary Information:       
Reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA Percentage    
(Unaudited)       
  Three months ended  Nine months ended
(Expressed in thousands of U.S. dollars) September 27,
2020
  September 29,
2019
  September 27,
2020
  September 29,
2019
Net income (loss)$1,243  $(5,734) $2,973  $(6,991)
Add (deduct):       
Depreciation of property, plant and equipment 1,545   1,649   4,767   4,902 
Amortization of Intangible assets 354   1,844   2,718   5,532 
Interest 1,941   2,679   6,021   8,349 
Income tax expense (recovery) 204   (184)     857       606  
EBITDA $ 5,287     $ 254     $ 17,336     $ 12,398  
               
Add (deduct):              
Restructuring charges   871       6,454       525       8,624  
Stock compensation expense   158       353       475       538  
Fair value adjustment of warrant liability   133       (858 )     15       (919 )
Fair value adjustment of contingent consideration   -       -       -       (3,050 )
Merger and acquisitions related expenses   -       68       -       232  
COVID-19 related expenses   1,348       -       2,533       -  
Unrealized foreign exchange gain              
on unsettled forward exchange contracts   (261 )     -       (720 )     -  
Adjusted EBITDA $ 7,536     $ 6,271     $ 20,164     $ 17,823  
Adjusted EBITDA Percentage   7.6 %     7.1 %     7.1 %     6.3 %

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