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XPLORE TECHNOLOGIES CORP.
Consolidated Statements of Cash Flows—Unaudited (in thousands) | ||||||||
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Nine Months Ended
December 31, | ||||||||
| 2016 | 2015 | |||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Cash (used in) provided by operations: | ||||||||
| Net income (loss) | $ | (2,064 | ) | $ | 640 | |||
| Items not affecting cash: | ||||||||
| Depreciation and amortization | 1,168 | 1,313 | ||||||
| Provision for doubtful accounts | (44 | ) | 48 | |||||
| Loss on disposal of asset | 28 | — | ||||||
| Stock-based compensation expense | 413 | 1,634 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (1,892 | ) | (3,021 | ) | ||||
| Inventory | (303 | ) | (110 | ) | ||||
| Prepaid expenses and other current assets | 325 | (184 | ) | |||||
| Accounts payable and accrued liabilities | (2,421 | ) | (5,234 | ) | ||||
| Net cash used in operating activities | (4,790 | ) | (4,914 | ) | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Net cash received in purchase transaction | — | 653 | ||||||
| Change in liabilities assumed in purchase of business | (287 | ) | 16 | |||||
| Additions to fixed assets | (1,626 | ) | (657 | ) | ||||
| Net cash provided by (used in) investing activities | (1,913 | ) | 12 | |||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from short-term borrowings | 44,976 | 18,000 | ||||||
| Repayment of short-term indebtedness | (39,880 | ) | (27,098 | ) | ||||
| Net proceeds from issuance of Common Stock | 112 | 580 | ||||||
| Net cash provided by (used in) financing activities | 5,208 | (8,518 | ) | |||||
| CHANGE IN CASH AND CASH EQUIVALENTS | (1,495 | ) | (13,420 | ) | ||||
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 5,594 | 19,455 | ||||||
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 4,099 | $ | 6,035 | ||||
| NONCASH INVESTING AND FINANCING ACTIVITIES: | ||||||||
| Net assets acquired with debt in purchase transaction | $ | — | $ | 9,079 | ||||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOWS: | ||||||||
| Payments for interest | $ | 156 | $ | 58 | ||||
| Payments for income taxes | $ | 129 | $ | 8 | ||||
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Xplore Technologies Reports Profitable Fiscal Third Quarter 2017
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