Condensed Financial Statements [Text Block] |
4.
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Interim Consolidated financial statement details
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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:
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March 29,
2015
|
|
|
December 28,
2014
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|
Accounts receivable
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|
$
|
26,328
|
|
|
$
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31,354
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|
Allowance for doubtful accounts
|
|
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(268
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)
|
|
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(330
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)
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Accounts receivable—net
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$
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26,060
|
|
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$
|
31,024
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Inventories:
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March 29,
2015
|
|
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December 28,
2014
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Raw materials
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$
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25,656
|
|
|
$
|
25,973
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Work in process
|
|
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4,834
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|
|
|
2,099
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Finished goods
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3,533
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|
|
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2,743
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Parts
|
|
|
783
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|
|
|
775
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Inventories
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$
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34,806
|
|
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$
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31,590
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Inventories are recorded net of a provision for obsolescence as at March 29, 2015 and December 28, 2014 of $573 and $475 respectively.
Property, plant and equipment – net:
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March 29,
2015
|
|
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December 28,
2014
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Cost:
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|
|
|
|
|
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Land
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$
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1,648
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$
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1,648
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Buildings
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9,878
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|
|
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9,878
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Machinery and equipment (a)
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|
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31,983
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|
|
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31,592
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Office furniture and equipment
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|
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1,697
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|
|
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1,690
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Computer hardware and software (b)
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6,002
|
|
|
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5,930
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Leasehold improvements (c)
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2,476
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|
|
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2,456
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|
|
|
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53,684
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|
|
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53,194
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Less accumulated depreciation:
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Land
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—
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|
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—
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Buildings
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(7,394
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)
|
|
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(7,275
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)
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Machinery and equipment (a)
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(21,175
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)
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(20,545
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)
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Office furniture and equipment
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|
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(1,547
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)
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|
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(1,513
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)
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Computer hardware and software (b)
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(4,948
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)
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(4,774
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)
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Leasehold improvements (c)
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(1,566
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)
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(1,497
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)
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|
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(36,630
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)
|
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(35,604
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)
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Property, plant and equipment—net
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$
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17,054
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$
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17,590
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(a)
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Included within machinery and equipment were assets under capital leases with costs of $3,153 and $3,495 and associated accumulated depreciation of $875 and $916 as of March 29, 2015 and December 28, 2014, respectively. The related depreciation expense for the three months ended March 29, 2015 and March 30, 2014 were $124 and $171, respectively.
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(b)
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Included within computer hardware and software were assets under capital leases with costs of $359 and $498 and associated accumulated depreciation of $297 and $417 as at March 29, 2015 and December 28, 2014, respectively. The related depreciation expense for the three months ended March 29, 2015 and March 30, 2014 were $19 and $40, respectively.
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(c)
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Included within leasehold improvements were assets under capital leases with costs of Nil and $73 and associated accumulated depreciation of Nil and $42 as of March 29, 2015 and December 28, 2014, respectively. The related depreciation expense was $2 and $4 for the three months ended March 29, 2015 and March 30, 2014, respectively.
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Deferred financing fees:
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March 29,
2015
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|
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December 28,
2014
|
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Deferred financing fees
|
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$
|
1,290
|
|
|
$
|
1,290
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|
Accumulated amortization
|
|
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(1,208
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)
|
|
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(1,200
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)
|
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$
|
82
|
|
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$
|
90
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Accrued liabilities:
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March 29,
2015
|
|
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December 28,
2014
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Customer related
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$
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2,921
|
|
|
$
|
2,074
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Payroll
|
|
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3,684
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|
|
|
4,014
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Professional services
|
|
|
298
|
|
|
|
395
|
|
Vendor related
|
|
|
157
|
|
|
|
29
|
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Other
|
|
|
364
|
|
|
|
568
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Accrued liabilities
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$
|
7,424
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|
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$
|
7,080
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Consolidated Statements of Operations and Comprehensive Loss
Interest expense:
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Three months ended
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|
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March 29,
2015
|
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March 30,
2014
|
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Revolving credit facility
|
|
|
260
|
|
|
|
263
|
|
Amortization of deferred financing fees
|
|
|
8
|
|
|
|
104
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Obligations under capital leases
|
|
|
42
|
|
|
|
27
|
|
Interest expense
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|
$
|
310
|
|
|
$
|
394
|
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|