SMTC Corporation Announces Fourth Quarter and Full Year 2020 Financial Results
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Consolidated Balance Sheets | | | | | | | (Unaudited) | | | | | | | (Expressed in thousands of U.S. dollars) | | |
January 3, 2021 | |
December 29, 2019 | |
Assets | | | | | | | | | | | | | |
Current assets: | | | | | | | Cash | | | $ | 600 | | | $ | 1,368 | | | Accounts receivable - net | | | | 69,627 | | | | 69,919 | | | Unbilled contract assets | | | | 39,336 | | | | 26,271 | | | Inventories - net | | | | 49,799 | | | | 47,826 | | | Prepaid expenses and other assets | | | | 7,872 | | | | 7,044 | | | Derivative assets | | | | 1,055 | | | | - | | | Income taxes receivable | | | | 307 | | | | - | | | | | | | 168,596 | | | | 152,428 | | | Property, plant and equipment - net | | | | 24,305 | | | | 25,310 | | | Operating lease right of use assets - net | | | | 7,791 | | | | 3,330 | | | Goodwill | | | | 18,165 | | | | 18,165 | | | Intangible assets - net | | | | 9,701 | | | | 12,747 | | | Deferred income taxes - net | | | | 569 | | | | 540 | | | Deferred financing costs - net | | | | 812 | | | | 859 | | | Total assets | | | $ | 229,939 | | | $ | 213,379 | | | | | | | | | |
Liabilities and Shareholders' Equity | | | | | | | | | | | | | |
Current liabilities: | | | | | | | Revolving credit facility | | | | 34,694 | | | | 34,701 | | | Accounts payable | | | | 72,608 | | | | 74,126 | | | Accrued liabilities | | | | 21,946 | | | | 11,164 | | | Warrant liability | | | | 3,233 | | | | 1,730 | | | Restructuring liability | | | | 2,443 | | | | 1,597 | | | Income taxes payable | | | | 478 | | | | 157 | | | Current portion of long-term debt | | | | 2,500 | | | | 1,250 | | | Current portion of operating lease obligations | | | | 2,590 | | | | 1,128 | | | Current portion of finance lease obligations | | | | 2,245 | | | | 1,226 | | | | | | | 142,737 | | | | 127,079 | | | | | | | | | | Long-term debt | | | | 30,930 | | | | 33,750 | | | Operating lease obligations | | | | 5,590 | | | | 2,615 | | | Finance lease obligations | | | | 9,492 | | | | 8,838 | | | Total liabilities | | | | 188,749 | | | | 172,282 | | | | | | | | | |
Shareholders equity: | | | | | | | Capital stock | | | | 511 | | | | 508 | | | Additional paid-in capital | | | | 294,060 | | | | 293,389 | | | Deficit | | | | (253,381 | ) | | | (252,800 | ) | | | | | | 41,190 | | | | 41,097 | | | Total liabilities and shareholders' equity | | | $ | 229,939 | | | $ | 213,379 | | | | | | | | |
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