SMTC Corporation Announces Fourth Quarter and Full Year 2020 Financial Results
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Supplementary Information: | | | | | | | | | |
Reconciliation of Adjusted Net Income and Adjusted EPS | | | | | | | | | (Unaudited) | | | | | | | | | | |
Three months ended | |
Twelve months ended | | | (Expressed in thousands of U.S. dollars) |
January 3, 2021 | |
December 29, 2019 | |
January 3, 2021 | |
December 29, 2019 | | | | | | | | | | | | | Net income (loss) | $ | (3,554 | ) | | $ | 996 | | | $ | (581 | ) | | $ | (5,995 | ) | | | Add (deduct): | | | | | | | | | | Amortization of intangible assets | | 328 | | | | 1,656 | | | | 3,046 | | | | 7,188 | | | | Restructuring charges (recovery) | | 3,600 | | | | (669 | ) | | $ | 4,125 | | | | 7,955 | | | | Stock compensation expense | | 286 | | | | 237 | | | | 761 | | | | 775 | | | | Fair value adjustment of warrant liability | | 837 | | | | 640 | | | | 852 | | | | (279 | ) | | | Fair value adjustment of contingent consisderation | | - | | | | - | | | | - | | | | (3,050 | ) | | | Merger and acquisitions related expenses | | 1,340 | | | | 54 | | | | 1,340 | | | | 286 | | | | COVID-19 related expenses | | 924 | | | | - | | | | 3,457 | | | | - | | | | Unrealized foreign exchange gain | | | | | | | | | | on unsettled forward exchange contracts | | (335 | ) | | | - | | | | (1,055 | ) | | | - | | | | | | | | | | | | | | | | | | | | | | | | Adjusted Net income | $ | 3,426 | | | $ | 2,914 | | | $ | 11,945 | | | $ | 6,880 | | | | Adjusted EPS | $ | 0.12 | | | $ | 0.10 | | | $ | 0.42 | | | $ | 0.27 | | | | Weighted average number of shares outstanding | | | | | | | | | | Basic | | 28,353,147 | | | | 28,117,372 | | | | 28,244,244 | | | | 25,745,499 | | | | Diluted | | 28,353,147 | | | | 28,117,372 | | | | 28,244,244 | | | | 25,745,499 | | |
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