Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 30, 2018
Dec. 31, 2017
Jan. 01, 2017
Operations:      
Net loss $ (448) $ (7,845) $ (232)
Items not involving cash:      
Depreciation of property, plant and equipment 3,791 3,588 4,110
Amortization of intangible assets 1,065
Unrealized gain on unsettled forward exchange contracts (353) (918) (831)
Impairment of property, plant and equipment (note 5) 1,601
Deferred income taxes (75) (79) 126
Amortization of deferred financing fees 58 27 69
Stock-based compensation 407 432 423
Change in fair value of warrant liability 111
Gain on disposal of property, plant and equipment (30) (60) (5)
Change in non-cash operating working capital:      
Accounts receivable (24,030) (6,469) 7,261
Unbilled contract assets (7,949)
Inventories (8,027) (1,689) 5,203
Prepaid expenses and other assets (883) 311 (470)
Income taxes receivable/payable (179) (142) 132
Accounts payable 23,698 2,159 (7,998)
Accrued liabilities 4,921 237 (927)
(7,787) (8,847) 6,861
Financing:      
Net advances (repayment) of revolving credit facility 12,829 9,460 (7,990)
Repayment of long-term debt (8,000) (2,000)
Net advances of long-term debt 62,000 5,000
Principal payment of capital lease obligations (487) (395) (611)
Proceeds from exercise of stock options 361
Proceeds from issuance of common stock (rights offering) 12,587
Proceeds from sale and leaseback 509
Debt issuance costs (2,831)
Deferred financing costs (632) (51) (71)
75,827 7,014 (3,163)
Investing:      
Purchase of property, plant and equipment (4,410) (1,471) (2,225)
Acquisition of MC Assembly – net of cash acquired (67,600)
Proceeds from leasehold improvement 56
Proceeds from sale of property, plant and equipment 35 281 126
(71,975) (1,134) (2,099)
(Decrease) increase in cash (3,935) (2,967) 1,599
Cash, beginning of year 5,536 8,503 6,099
Restricted cash – guaranteed deposit 805
Cash, end of the year 1,601 5,536 8,503
Supplemental Information:      
Cash interest paid 2,294 834 761
Cash taxes paid 1,000 786 444
Cash tax refund 442
Property, plant and equipment acquired through capital lease 882 533
Property, plant and equipment acquired that was unpaid in cash and included in accounts payable and accrued liabilities 384 23 247
Long-term Debt [Member]      
Items not involving cash:      
Amortization of deferred financing fees 194
Revolving Credit Facility [Member]      
Items not involving cash:      
Amortization of deferred financing fees $ 58 $ 27 $ 69