Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Interim Consolidated Financial Statement Details

v3.10.0.1
Note 4 - Interim Consolidated Financial Statement Details
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Condensed Financial Statements [Text Block]
4.
Interim Consolidated financial statement details
 
The following consolidated financial statement details are presented as of the period ended for the consolidated balance sheets and for the periods ended for each of the consolidated statements of operations and comprehensive loss.
 
Consolidated Balance Sheets
 
 
Accounts receivable – net:
 
   
September 30
,
201
8
   
December
3
1,
2017
 
Trade accounts receivable
  $
40,908
    $
28,793
 
Other receivables
   
344
     
317
 
Allowance for doubtful accounts
   
(46
)    
 
Total
  $
41,206
    $
29,110
 
 
 
Unbilled contract assets
(note
2
)
:
 
   
September 30
,
201
8
   
December
3
1,
2017
 
Opening – January 1, 2018
  $
3,734
    $
 
Contract assets addition
   
20,754
     
 
Contract assets invoiced
   
(15,985
)    
 
Ending – September 30, 2018
  $
8,503
    $
 
 
Inventories:
 
   
September 30
,
201
8
   
December 3
1,
2
017
 
Raw materials
  $
27,231
    $
19,157
 
Work-in-process
   
     
1,874
 
Finished goods (1)
   
804
     
1,540
 
Parts
   
564
     
411
 
Provision for obsolescence
   
(227
)    
(619
)
Total
  $
28,372
    $
22,363
 
 
 
(
1
)
Finished goods represent inventory the Company procured for resale.
 
Property, plant and equipment – net:
 
   
September 30
,
201
8
   
December
3
1,
2017
 
Cost:
               
Land
  $
1,648
    $
1,648
 
Buildings
   
9,903
     
9,852
 
Machinery and equipment (a) (c)
   
34,154
     
30,319
 
Office furniture and equipment
   
684
     
534
 
Computer hardware and software (b)
   
3,491
     
3,173
 
Leasehold improvements
   
2,316
     
2,160
 
     
52,196
     
47,686
 
Less accumulated depreciation:
               
Land
   
     
 
Buildings
   
(8,984
)    
(8,619
)
Machinery and equipment (a) (c)
   
(26,170
)    
(24,650
)
Office furniture and equipment
   
(436
)    
(413
)
Computer hardware and software (b)
   
(2,947
)    
(2,622
)
Leasehold improvements
   
(1,308
)    
(1,113
)
     
39,845
     
(37,417
)
Property, plant and equipment—net
  $
12,351
    $
10,269
 
  

(a)
Included within machinery and equipment were assets under capital leases with costs of
$1,069
and
$533
and associated accumulated depreciation of
$292
and
$222
as of
September 30, 2018
and
December 31, 2017,
respectively. The related depreciation expense for the
three
months ended
September 30, 2018
and
October 1, 2017
was
$34
and
$15,
respectively. The related depreciation expense for the
nine
months ended
September 30, 2018
and
October 1, 2017
was
$70
and
$148,
respectively.
 
(b)
 
Included within computer hardware and software are assets under capital leases with costs of
$91
and
$Nil
as at
September 30, 2018
and
December 
31,
2017
and associated accumulated depreciation of
$13
and
$Nil
as at
September 30, 2018
and
December 
31,
2017,
respectively. The related depreciation expense for the
three
months ended
September 30, 2018
and
October 1, 2017
was
$8
and
$Nil,
respectively. The related depreciation expense for the
nine
months ended
September 30, 2018
and
October 1, 2017
was
$13
and
$Nil,
respectively.
   
(c) In accordance with ASC
360
-
10,
the Company is required to evaluate for impairment when events or changes in circumstances indicate that the carrying value of such assets
may
not
be recoverable. Upon the occurrence of a triggering event, the Company assesses whether the estimated undiscounted cash flows expected from the use of the asset and the residual value from the ultimate disposal of the asset exceeds the carrying value. As at
September 30, 2018,
the Company concluded there was
no
triggering event based on the operating results for its China segment The net carrying amount of the China asset group is
$1,165.
 
Accrued liabilities:
 
   
September 30
,
201
8
   
December
3
1,
2017
 
Customer related
  $
1,821
    $
936
 
Payroll
   
3,487
     
2,485
 
Professional services
   
310
     
328
 
Restructuring
   
88
     
109
 
Vendor related
   
845
     
493
 
Other
   
722
     
526
 
Total
  $
7,273
    $
4,877
 
 
 
Interim consolidated statements of operations and comprehensive
income (
loss
)
 
Interest expense:
 
   
Three months ended
   
Nine
months ended
 
   
September 30
,
201
8
   
October 1
,
201
7
   
September 30
,
201
8
   
October 1
,
201
7
 
Revolving credit facility
  $
318
    $
100
    $
718
    $
243
 
Long-term debt
   
107
     
116
     
321
     
342
 
Equipment facility
   
43
     
     
57
     
 
Amortization of deferred financing fees
   
11
     
8
     
32
     
19
 
Obligations under capital leases
   
6
     
5
     
67
     
21
 
Interest expense
  $
485
    $
229
    $
1,195
    $
625