Note 1 - Nature of the Business
|9 Months Ended|
Oct. 01, 2017
|Notes to Financial Statements|
|Business Description and Basis of Presentation [Text Block]||
SMTC Corporation (the “Company”) is a worldwide provider of advanced electronics manufacturing services to original equipment manufacturers. The Company services its customers through manufacturing and technology centers located in the United States, Mexico and China. All facilities provide a full suite of integrated manufacturing services including assembly, testing, box build, final product integration, and expanded supply chain capabilities. In addition, the Company operates an international sourcing and procurement office in Hong Kong.
The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with the accounting principles and methods of application disclosed in the audited consolidated financial statements within the Company
’s Annual Report on Form
10-K for the fiscal period ended
January 1, 2017 (“Form
10-K”) filed with the Securities and Exchange Commission (the “SEC”) on
March 9, 2017.The accompanying unaudited interim consolidated financial statements include adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair statement of the consolidated financial statements under generally accepted accounting principles in the United States (“U.S. GAAP”). These unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements contained in the Company’s Form
10-K. The consolidated balance sheet at
January 1, 2017was derived from the audited annual consolidated financial statements contained in the Company’s Form
10-K, but does
notcontain all of the footnote disclosures from the annual consolidated financial statements. The results of Operations for the interim periods are
notnecessarily indicative of results that
maybe expected for any other interim period or the full year.
Unless otherwise specified or the context requires otherwise, all statements in these notes to the interim consolidated financial statements regarding financial figures are expressed in thousands of U.S. dollars.
The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
Reference 1: http://www.xbrl.org/2003/role/presentationRef