v3.19.1
Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Apr. 01, 2018
Operations:    
Net income $ 1,211 $ 8
Items not involving cash:    
Depreciation of property, plant & equipment 1,627 774
Amortization of intangible assets 1,844
Unrealized foreign exchange gain on unsettled forward exchange contracts (319)
Deferred income taxes (recovery) (8) (84)
Amortization of deferred financing fees 34 9
Stock-based compensation 88 126
Change in fair value of warrant liability (101)
Change in fair value of contingent consideration (note 4) (3,050)
Change in non-cash operating working capital:    
Accounts receivable (1,194) (1,793)
Unbilled contract assets (3,803) (1,735)
Inventories 4,543 (974)
Prepaid expenses and other assets (1,067) (369)
Income taxes payable 29 (48)
Accounts payable 1,970 3,837
Accrued liabilities 486 1,184
Net cash provided by (used in) in operating activities 2,846 616
Financing:    
Repayments of revolving credit facility (1,384) (2,149)
Repayment of long-term debt (313) (500)
Debt issuance and deferred financing fees (33)
Principal repayments of finance lease obligations (417) (44)
Net cash provided by (used in) financing activities (2,114) (2,726)
Investing:    
Purchase of property, plant and equipment (737) (104)
Net cash provided by (used in) investing activities (737) (104)
Decrease in cash (5) (2,214)
Cash, beginning of period 1,601 5,536
Cash, end of the period 1,596 3,322
Supplemental Information    
Property, plant and equipment acquired that was unpaid in cash and included in accounts payable $ 330 $ 16

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