About SMTC Corporation
SMTC Corporation, founded in 1985, is a mid-size provider of end-to-end electronics manufacturing services (EMS) including PCBA production, systems integration and comprehensive testing services, enclosure fabrication, as well as product design, sustaining engineering and supply chain management services. SMTC manufacturing facilities span a broad footprint in the United States, China and Mexico. SMTC services extend over the entire electronic product life cycle from the development and introduction of new products through to the growth, maturity and end-of-life phases. SMTC offers fully integrated contract manufacturing services with a distinctive approach to global original equipment manufacturers (OEMs) and emerging technology companies primarily within industrial, networking and computing, power and energy and medical market segments. SMTC is a public company incorporated in Delaware with its shares traded on the Nasdaq National Market System under the symbol SMTX. For further information on SMTC Corporation, please visit our website at www.smtc.com ( http://www.smtc.com/).
| Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| Three months ended | Six months ended | ||||||||||||||||||||
| (Expressed in thousands of U.S. dollars, except number of shares and per share amounts) |
July 1,
2018 |
April 1,
2018 |
July 2,
2017 |
July 1,
2018 |
July 2,
2017 | ||||||||||||||||
| Revenue | $ | 44,479 | $ | 37,120 | $ | 32,995 | $ | 81,599 | $ | 66,173 | |||||||||||
| Cost of sales | 40,196 | 33,270 | 31,575 | 73,466 | 61,196 | ||||||||||||||||
| Gross profit | 4,283 | 3,850 | 1,420 | 8,133 | 4,977 | ||||||||||||||||
| Selling, general and administrative expenses | 3,647 | 3,509 | 4,110 | 7,156 | 7,872 | ||||||||||||||||
| Impairment of property,plant and equipment | - | - | 1,601 | - | 1,601 | ||||||||||||||||
| Restructuring charges | 96 | - | 1,351 | 96 | 1,351 | ||||||||||||||||
| Operating earnings (loss) | 540 | 341 | (5,642 | ) | 881 | (5,847 | ) | ||||||||||||||
| Interest expense | 403 | 307 | 217 | 710 | 396 | ||||||||||||||||
| Earnings (loss) before income taxes | 137 | 34 | (5,859 | ) | 171 | (6,243 | ) | ||||||||||||||
| Income tax expense (recovery) | |||||||||||||||||||||
| Current | 196 | 110 | 168 | 306 | 295 | ||||||||||||||||
| Deferred | 38 | (84 | ) | (14 | ) | (46 | ) | (148 | ) | ||||||||||||
| 234 | 26 | 154 | 260 | 147 | |||||||||||||||||
| Net earnings (loss), also being comprehensive income (loss) | $ | (97 | ) | $ | 8 | $ | (6,013 | ) | $ | (89 | ) | $ | (6,390 | ) | |||||||
| Basic earnings (loss) per share | $ | (0.01 | ) | $ | 0.00 | $ | (0.36 | ) | $ | (0.01 | ) | $ | (0.38 | ) | |||||||
| Diluted earnings (loss) per share | $ | (0.01 | ) | $ | 0.00 | $ | (0.36 | ) | $ | (0.01 | ) | $ | (0.38 | ) | |||||||
| Weighted average number of shares outstanding | |||||||||||||||||||||
| Basic | 17,222,439 | 17,041,504 | 16,807,333 | 17,131,971 | 16,734,117 | ||||||||||||||||
| Diluted | 17,222,439 | 17,523,890 | 16,807,333 | 17,131,971 | 16,734,117 | ||||||||||||||||
