SMTC Corporation Announces Third Quarter Results



Consolidated Balance Sheets   
(Unaudited)   
    
(Expressed in thousands of U.S. dollars) September 27,
2020
  December 29,
2019
Assets   
    
Current assets:   
Cash$169  $1,368 
Accounts receivable - net 73,406   69,919 
Unbilled contract assets 42,736   26,271 
Inventories - net 51,537   47,826 
Prepaid expenses and other assets 6,564   7,044 
Derivative assets 720   - 
Income taxes receivable 160   - 
  175,292   152,428 
Property, plant and equipment - net 23,397   25,310 
Operating lease right of use assets - net 5,897   3,330 
Goodwill 18,165   18,165 
Intangible assets - net 10,029   12,747 
Deferred income taxes - net 555   540 
Deferred financing costs - net 742   859 
Total assets$234,077  $213,379 
    
Liabilities and Shareholders’ Equity   
    
Current liabilities:   
Revolving credit facility 34,356   34,701 
Accounts payable 77,979   74,126 
Accrued liabilities 23,125   11,164 
Warrant liability 1,745      1,730  
Restructuring liability   364       1,597  
Income taxes payable   254       157  
Current portion of long-term debt   2,188       1,250  
Current portion of operating lease obligations   1,452       1,128  
Current portion of finance lease obligations   1,818       1,226  
    143,281       127,079  
       
Long-term debt   32,513       33,750  
Operating lease obligations   5,042       2,615  
Finance lease obligations   8,696       8,838  
Total liabilities   189,532       172,282  
Shareholders’ equity:      
Capital stock   508       508  
Additional paid-in capital   293,864       293,389  
Deficit   (249,827 )     (252,800 )
    44,545       41,097  
Total liabilities and shareholders’ equity $ 234,077     $ 213,379  

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