SMTC Corporation Announces Fourth Quarter and Full Year 2020 Financial Results
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Supplementary Information: | | | | | | | | | |
Reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA Percentage | | | | | | | (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): | | | | | | | | | | Depreciation of property, plant and equipment | | 1,401 | | | | 1,646 | | | | 6,168 | | | | 6,548 | | | | Amortization of Intangible assets | | 328 | | | | 1,656 | | | | 3,046 | | | | 7,188 | | | | Interest | | 2,028 | | | | 2,213 | | | | 8,049 | | | | 10,562 | | | | Income tax expense | | 369 | | | | 182 | | | | 1,226 | | | | 788 | | | | | | | | | | | | | | EBITDA | $ | 572 | | | $ | 6,693 | | | $ | 17,908 | | | $ | 19,091 | | | | | | | | | | | | | | Add (deduct): | | | | | | | | | | 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 consideration | | - | | | | - | | | | - | | | | (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 EBITDA | $ | 7,224 | | | $ | 6,955 | | | $ | 27,388 | | | $ | 24,778 | | | | Adjusted EBITDA Percentage | | 7.1 | % | | | 7.7 | % | | | 7.1 | % | | | 6.7 | % | | | | | | | | | | | |
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