Abaxis inc (ABAX)
CashFlow / Quarterly
Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10
Cash flows from operating activities:
Net income

10,020

4,226

6,601

6,330

7,550

6,844

11,432

6,890

8,861

7,958

7,816

6,995

11,331

5,885

5,400

4,715

3,738

3,222

3,996

3,229

6,698

4,988

12,909

2,864

4,706

2,850

3,321

2,214

3,373

3,835

3,749

3,580

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

2,086

2,012

1,953

1,955

2,011

1,850

1,787

1,692

1,505

1,894

1,818

1,480

2,099

2,221

2,113

2,053

1,932

1,911

1,849

1,735

1,850

1,532

1,475

1,441

1,365

1,290

1,232

1,203

1,236

1,130

1,144

1,052

Investment premium amortization, net

-287

-291

-274

-240

-227

-161

-124

-154

-282

-352

-320

-226

-157

-177

-156

-145

-106

-102

-137

-185

-189

-190

-208

-240

-232

-251

-260

-243

-183

-152

-286

95

Net loss on disposals of property and equipment

-77

0

-5

-20

-34

-14

-41

-26

-71

-16

-16

0

-24

18

0

-2

-25

11

-6

0

-57

1

0

-20

-3

-2

0

-8

-11

0

-9

4

Impairment loss of intangible assets

-

-

-

-

-

-

-

-

0

0

0

13

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Foreign exchange (gain) loss

89

164

125

618

128

-532

-24

-199

15

-34

-32

200

-856

-374

-534

-30

-4

75

291

115

-

-

-

-

-

-

-

-

-

-

-

-

Net (gain) loss on foreign exchange translation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-392

-

-261

-192

51

216

-174

-67

300

Share-based compensation expense

3,470

3,572

3,508

3,111

2,762

2,432

3,066

2,819

2,864

2,397

3,038

2,801

2,567

2,693

2,495

2,032

1,914

1,627

1,853

2,249

1,796

1,779

1,709

1,802

1,489

1,512

1,562

1,120

1,297

1,298

1,115

1,134

Excess tax benefits from share-based awards

0

0

0

0

-16

9

205

132

-7

184

697

747

9

93

759

100

379

56

332

1,397

857

681

428

717

145

1,203

-51

-435

4,168

-1,419

-80

-409

Deferred income taxes

-449

2,998

275

-714

-715

6

-214

-396

1,580

6

56

-325

-883

-1,554

-795

-722

-200

-157

-175

-253

-1,054

50

-126

-177

516

-217

382

-8

1,107

504

358

118

Equity in net (income) loss of unconsolidated affiliates

-136

-46

-38

-34

-150

0

0

-34

-34

25

64

-33

-37

106

17

-49

-33

50

-14

30

0

21

-51

17

-42

-29

-34

-38

-

-

-

-

Changes in assets and liabilities:
Equity in net loss of unconsolidated affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Receivables, net

7,794

-362

-3,289

3,327

5,293

36

-1,679

914

2,514

3,006

670

-1,276

-231

-5,677

3,215

3,999

463

-6,672

2,746

-7,708

4,050

-12,323

19,260

-1,569

4,530

-1,415

1,175

-1,463

2,556

560

1,208

-192

Inventories

3,053

4,431

-1,156

1,853

63

3,677

2,321

2,123

85

1,090

683

-1,932

3,475

3,437

2,206

1,017

-879

2,196

78

1,096

1,760

3,200

1,381

1,740

136

1,141

897

-938

596

1,966

-2,385

1,669

Prepaid expenses and other current assets

-1,090

1,443

353

-478

-1,205

1,540

563

-2,284

-457

978

2,444

-1,053

-2,165

563

1,508

-693

-1,995

-1,666

3,055

-2,356

-4,599

4,318

-1,549

-2,439

57

-2

1,201

-57

-1,827

1,264

316

403

Other assets

195

319

304

973

1,334

1,312

1,581

1,447

1,344

-56

456

85

-21

16

5

55

-7

-1

-6

-7

-4

19

-33

27

-23

-1

-16

-4

19

9

41

-14

Accounts payable

-1,405

4,771

-1,886

2,726

-1,408

1,639

-1,096

1,103

-598

178

1,758

-1,781

-804

-3,133

3,112

941

-500

-392

832

-1,958

-3,410

3,332

646

1,178

124

-731

1,244

-405

-1,444

2,121

734

-4,659

Accrued payroll and related expenses

995

184

1,449

-954

3,422

-3,054

1,308

-419

1,108

-2,021

1,579

-3,747

3,383

-755

1,925

2,223

-1,287

430

-641

-128

-2,113

310

1,240

496

588

-1,124

658

86

966

-591

518

-379

Accrued taxes

1,421

-1,442

-4,245

3,522

1,515

451

-1,945

739

474

-84

-3,003

-1,452

-1,318

238

-2,700

2,486

609

98

88

-105

217

-3,307

3,811

-111

283

-243

-284

-32

288

-8

-1,309

1,611

Other liabilities

635

1,898

1,486

1,409

1,053

1,265

461

-22

524

582

-353

-5,601

-246

3,277

1,727

756

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-282

-178

-

-795

1,303

-185

-81

284

-32

128

184

191

188

-227

Deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

11

-

21

22

28

44

67

52

62

41

47

94

71

Deferred revenue

8

-1

-271

-271

-286

-263

-234

-216

-179

-162

-175

-151

-143

-118

-219

-222

-253

-151

541

-6

207

712

178

407

185

215

206

312

-31

72

35

98

Warranty reserve

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10

265

286

-57

-

-

-

-

-

-

-

-

-

-

-

-

Warranty reserve

297

234

218

183

165

243

374

368

114

270

-45

-287

-

722

312

5

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Warranty reserve

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-14

-352

-

169

-34

248

355

16

-163

-329

Net cash provided by operating activities

6,356

12,794

13,068

11,298

10,883

5,546

6,084

10,639

12,587

6,193

7,843

1,433

8,560

11,471

6,350

10,015

-

-

-

12,157

3,059

12,763

3,825

9,550

4,634

4,661

5,485

7,193

5,685

3,723

3,035

3,926

Cash flows from investing activities:
Purchases of available-for-sale investments

41,033

20,196

44,182

4,037

1,410

2,562

429

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of held-to-maturity investments

16,535

1,516

8,493

23,588

11,741

13,237

16,166

11,369

19,985

4,748

6,547

29,769

13,326

9,828

8,821

4,829

19,762

0

0

8,036

0

4,376

9,554

4,407

0

0

5,061

13,113

13,139

14,109

20,758

14,680

Proceeds from maturities and redemptions of available-for-sale investments

20,120

15,380

2,260

1,700

1,000

2,300

0

1,000

-

-

-

0

0

6,000

0

498

0

498

525

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities and redemptions of held-to-maturity investments

10,336

11,764

10,361

20,337

12,221

9,995

11,499

8,425

29,747

4,747

9,718

4,747

6,244

1,996

5,492

13,237

4,498

3,700

2,986

12,127

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from maturities and redemptions of held-to-maturity investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,251

-

2,196

21,873

11,268

11,743

12,928

22,715

21,218

Purchases of property and equipment

1,252

1,538

1,603

1,653

2,157

2,365

3,071

2,578

780

1,770

2,053

582

1,113

1,060

2,227

1,677

1,237

1,556

1,533

1,228

1,306

1,389

1,212

1,733

1,703

1,183

2,135

2,642

3,367

1,834

910

815

Cash paid for investment in unconsolidated affiliate

1,250

0

0

0

0

0

0

2,999

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-28,433

3,894

-41,657

-7,241

-2,087

-6,654

359

-7,521

8,877

-4,628

1,118

-25,604

12,008

-3,588

-5,556

7,229

-

-

-

2,863

2,500

549

-5,817

1,111

5,544

-7,255

14,677

-4,487

-7,563

-3,015

1,047

5,723

Cash flows from financing activities:
Proceeds from the exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

7

20

0

4

1,342

87

9

17

1,207

1,332

184

77

39

146

202

228

396

839

125

324

Tax withholdings related to net share settlements of restricted stock units

69

138

1,029

1,354

46

84

1,001

1,103

13

386

1,295

3,556

13

129

1,301

1,583

11

81

879

3,712

41

89

672

823

39

153

194

1,825

9

35

407

1,562

Excess tax benefits from share-based awards

0

0

0

0

-16

9

205

132

-7

184

697

747

9

93

759

100

379

56

332

1,397

857

681

428

717

145

231

51

435

352

2,397

-898

409

Proceeds from the exercise of warrants

-

-

-

-

-

-

-

-

0

0

0

12

6

12

0

60

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

3,631

3,631

3,177

3,172

3,156

3,156

2,703

2,700

2,476

2,501

2,499

2,494

2,254

2,254

2,252

2,246

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-3,700

-3,769

-4,206

-4,526

-3,218

-3,231

-3,499

-3,671

-15,536

-2,703

-3,097

-5,291

-2,245

-2,258

-2,794

-3,665

-

-

-

-2,298

2,023

-20,099

-60

-29

145

224

-27,122

-1,162

1,592

2,223

-202

-829

Effect of exchange rate changes on cash and cash equivalents

152

109

196

610

101

-401

-77

-244

-7

-93

-109

325

-1,078

-449

-509

-65

76

88

192

154

-99

105

10

-324

152

-256

-119

58

201

-25

422

-329

Net increase (decrease) in cash and cash equivalents

-25,625

13,028

-32,599

141

5,679

-4,740

2,867

-797

5,921

-1,231

5,755

-29,137

17,245

5,176

-2,509

13,514

-10,680

12,823

3,660

12,876

7,483

-6,682

-2,042

10,308

10,475

-2,626

-7,079

1,602

-85

2,906

4,302

8,491

Supplemental disclosure of cash flow information:
Cash paid for income taxes, net of refunds

2,900

4,614

7,644

-660

2,065

4,850

9,268

718

2,304

3,726

8,982

4,915

4,752

3,998

6,646

492

323

614

3,817

189

124

8,898

3,160

148

1,352

7,605

-2,581

-215

12,043

-2,090

-3,927

168

Supplemental disclosure of non-cash flow information:
Change in unrealized gain (loss) on investments, net of tax

-113

-32

-10

-10

-1

-10

-3

9

10

-10

2

-1

14

-4

-17

4

-32

-7

5

-13

-4

-1

26

-4

39

-14

0

0

-

-

-

-

Transfers of equipment between inventory and property and equipment, net

1,389

954

420

304

401

717

1,894

1,537

85

356

243

303

743

329

676

547

1,487

180

216

402

26

185

254

439

355

485

330

315

366

329

157

260

Net change in capitalized share-based compensation

-41

-29

57

10

156

-1

-31

-77

-46

-6

26

40

1

-39

-96

105

-28

-12

-24

50

-17

-6

-7

42

-36

87

-66

47

-4

1

1

15

Common stock withheld for employee taxes in connection with share-based compensation

69

138

1,029

1,354

46

84

1,001

1,103

13

386

1,295

3,556

13

129

1,301

1,583

11

81

879

3,712

-

-

-

-

-

-

-

-

-

35

407

1,562

Common stock withheld for employee taxes in connection with share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

89

672

823

-

153

194

1,825

-

-

-

-

Repayment of notes payable by credits from municipal agency

25

25

26

25

25

25

26

25

25

26

25

25

25

26

25

25

25

26

25

25

25

26

25

25

25

26

23

21

22

0

0

0