AIR INDUSTRIES GROUP AIRI Cash Flow

Air industries group (AIRI)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)
-751	-2,732	-8,050	-11,367	-10,447	-10,992	-20,958	-20,708	-22,865	-22,551	-17,900	-17,067	-15,347	-15,623	-4,401	-2,017	-2,366	-832	-830	-787	430	667	2,037	4,191	3,801	3,739	3,832	1,914	2,007	2,548	0	0	0
Adjustments to reconcile net income (loss) to net cash used in in operating activities
Depreciation of property and equipment
2,992	3,002	2,797	2,888	2,821	2,877	2,862	2,725	2,723	2,723	2,565	2,938	3,165	3,347	3,219	3,307	3,275	3,090	3,363	2,830	2,531	2,364	2,147	2,076	1,858	1,709	1,702	1,643	1,604	1,557	0	0	0
Bad debt expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Non-cash employee compensation expense
285	378	336	394	443	293	631	630	488	332	0	0	0	-	149	129	110	100	94	81	56	42	48	47	41	38	28	64	79	101	0	0	0
Non-cash directors compensation
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash other income recognized
-265	-282	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash interest expense
80	85	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Abandonment of lease
-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of Right-of-Use Asset
468	470	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred gain on sale of real estate
38	38	38	38	38	38	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale of equipment
-194	-136	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	2,063	-1,710	-1,016	-759	-215	0	0	0	-	-	-	-1,344	-1,236	0	0	0	-	-	-	-
Amortization of debt discount on convertible notes payable
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount on convertible notes payable
-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
-	-	-	-	-	-	-	-	407	673	949	1,220	1,263	1,279	1,299	1,288	1,275	1,262	1,214	1,195	1,179	1,163	1,163	1,163	1,163	1,163	1,163	1,191	942	693	0	0	0
Amortization of capitalized engineering costs
-	-	-	-	-	668	638	567	487	423	360	332	338	362	383	388	369	341	307	312	338	375	420	441	443	430	435	437	450	459	0	0	0
Bad debt expense (recovery)
-	-	-	-	-	-	-	-	-	-	-	-	288	274	0	0	0	-	-	-	-	-	-	-	-514	-394	0	0	0	-	-	-	-
Bad debt expense
0	-	-	-	-	49	0	0	0	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
0	-	-	-	-	212	246	222	281	267	194	200	256	371	418	406	349	204	158	109	56	49	56	62	72	69	56	55	54	52	0	0	0
Deferred gain on sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	38	38	39	38	38	38	38	38	38	38	38	38	58	38	94	76	38	38	0	0	0
Gain on sales of subsidiaries
-	-	-	-	-	-	-	-	-	200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in Assets and Liabilities
Adjustments to Lease Impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-53	0	0	0
(Increase) Decrease in Operating Assets:
Accounts receivable
1,011	1,647	-655	-411	1,205	561	-1,816	-531	599	-1,004	1,093	-470	-1,344	-4,616	-3,935	-470	-2,739	-91	2,412	-293	-3,203	2,417	-1,945	448	-548	-2,871	5,106	5,756	8,545	4,606	0	0	0
Inventory
1,121	-405	-930	-123	-2,492	-1,395	540	-803	1,547	-905	-4,096	-1,200	-2,643	2,902	4,770	8,077	10,075	8,412	7,276	2,901	3,215	1,646	2,666	972	879	-440	-295	-908	-2,717	-1,136	0	0	0
Prepaid expenses and other current assets
-76	33	204	7	-27	-39	-363	-73	-280	-281	-116	-342	-153	-394	475	640	897	748	564	246	45	244	-8	82	-250	-35	-226	-116	354	216	0	0	0
Prepaid taxes
-	-49	0	0	0	-	-	-	-	-360	-514	-637	-304	-126	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax receivable
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deposits and other assets
-526	-713	-98	-1,166	-1,251	-1,112	-203	8	39	-113	-1,136	-473	-461	-150	-109	27	62	-18	0	0	0	-	-	-	3	134	4	109	39	-132	0	0	0
Other Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	131	-20	-11	-118	-170	-51	0	0	0
Increase (Decrease) in Operating Liabilities:
Accounts payable and accrued expenses
763	-970	510	-743	-1,989	-1,569	-928	-2,407	-3,003	-3,527	-2,196	2,600	2,933	4,495	884	4,381	3,873	3,593	5,283	-1,270	-621	-577	-1,325	-567	-400	-892	-677	-465	-1,330	-1,534	0	0	0
Operating Lease Liabilities
632	601	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income Taxes Payable
0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	3	10	20	29	34	100	93	85	82	13	18	23	29	15	24	35	45	75	75	75	75	67	73	77	82	0	0	0
Deferred revenue
108	130	577	2,616	1,916	2,076	1,643	130	809	410	252	-446	-492	84	177	792	1,020	540	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes payable
-	-	-	-	-	-	-	-	-	-	-	-	-	6	0	19	-79	-57	-382	-1,770	-2,008	-1,425	-817	-630	171	48	186	1,774	1,678	1,408	0	0	0
Customer Deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	254	251	0	0	0	-	-	-	-
NET CASH USED IN OPERATING ACTIVITIES
526	-888	800	-755	-2,282	-2,336	902	-3,664	-6,668	-3,986	-7,322	-4,199	-692	-692	-569	-559	-982	-894	-1,548	-2,639	527	-2,799	2,633	3,644	3,194	8,889	2,365	6,473	4,325	1,694	0	0	0
CASH FLOWS FROM INVESTING ACTIVITIES
Capitalized engineering costs
-	-	-	-	-	523	661	819	904	985	1,043	1,052	996	963	835	700	719	656	553	557	430	335	311	294	327	380	399	344	322	292	0	0	0
Purchase of property and equipment
812	764	1,032	831	1,150	1,264	1,536	1,728	1,569	1,514	898	701	1,366	1,632	1,938	2,422	1,776	1,564	1,154	640	527	571	536	544	430	288	724	862	1,050	1,059	0	0	0
Proceeds from sale of equipment
-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of subsidiary
-	-	-	-	-	-	-	-	-	4,260	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid for acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,945	11,399	10,153	14,343	8,930	0	0	0	-	-	-	-	-	-	-	-
Cash acquired in acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Deposit for new property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	87	0	0	0
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES
-896	-764	4,317	4,435	4,047	3,685	-2,197	-2,547	-2,473	1,761	2,319	2,507	3,569	-924	-1,102	-2,966	-4,010	-8,560	-12,333	-10,589	-14,539	-9,663	-5,300	-5,478	-1,207	-1,118	-1,597	-1,377	-12,958	-13,038	0	0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Note payable - revolver, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Note payable - revolver - net - Sterling National Bank
0	-	-	-	-	-	-	-	-	4,184	5,159	7,879	5,545	3,695	-780	-3,500	-3,500	0	9,500	9,500	10,828	7,328	0	0	0	-	-	-	-	-	-	-	-
Note payable - revolver - net - PNC
-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of note payable - term loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,209	-1,564	-1,800	-1,800	-1,230	-6,953	-2,353	-2,153	0	0	0
Deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Note payable - revolver, net - PNC
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41	219	393	564	691	678	666	655	644	633	623	612	601	0	0	0
Payments of note payable - term notes - Sterling National Bank
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Note payable - revolver, net
-	-	-	-	-	-	-	-	-	-	-	-	11,214	5,211	0	0	0	-	-	-	-	-3,142	1,599	2,927	-2,460	3,637	-3,001	742	-2,470	-4,787	0	0	0
Payments of note payable - term notes - PNC
-	1,572	1,899	1,899	1,900	1,899	1,478	1,478	1,478	3,178	3,178	3,178	4,690	3,184	3,378	3,572	2,253	2,030	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of future proceeds from disposition of subsidiary
-	800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transaction costs from sale of future proceeds from disposition of subsidiary
-	3	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of finance lease obligations
1,487	1,764	1,227	1,233	1,260	1,286	1,422	1,423	1,534	1,397	1,251	1,242	1,086	1,226	1,138	1,054	939	717	382	238	126	143	345	794	919	996	1,081	700	654	608	0	0	0
Payments related to Lease Impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	60	56	59	64	67	75	78	81	85	88	91	96	101	0	0	0
Dividends paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends Paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,693	-2,166	-1,433	0	0	0	-	-	-	-
Proceeds from issuance of common stock
0	-	-	-	-	2,885	1,856	9,158	8,798	7,733	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-223	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs related to issuance of stock
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from note payable - related party
-	-	-	-	-	2,803	910	877	2,810	2,660	4,153	5,653	5,350	4,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of notes payable issuances- related party
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of notes payable - third party
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of loan payable - financed asset
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET CASH PROVIDED BY FINANCING ACTIVITIES
1,422	934	-5,701	-2,728	-2,738	33	1,804	6,190	9,513	1,551	4,114	1,359	-2,203	2,391	2,177	3,070	2,903	8,565	13,104	13,273	15,783	13,319	3,464	2,048	-2,266	-7,700	-1,117	-5,376	8,688	11,257	0	0	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
1,052	-718	-584	952	-973	1,382	509	-21	372	-674	-889	-333	674	775	506	-455	-2,089	-889	-777	45	1,771	857	797	214	-279	71	-349	-280	55	-87	0	0	0
Supplemental cash flow information
Cash paid during the period for interest
2,194	2,274	1,716	1,429	1,404	1,509	1,404	1,883	1,782	2,035	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,838	1,844	1,649	1,493	1,262	1,133	1,074	1,006	1,394	1,058	1,188	2,448	1,050	1,521	1,577	0	0	0
Cash paid during the period for income taxes
-	-	-	-	-	-	-	-	-	-	-	0	0	13	13	13	275	445	928	2,595	2,591	2,494	2,011	1,405	1,147	1,061	0	0	0	-	-	-	-
Classification of Assets Held for Sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities directly associated with assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair Value of Tangible Assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	406	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-548	-1,669	-1,669	-453	0	0	0	-	-	-	-	-	-	-	-
Fair Value of Tangible Assets acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,637	0	0	0	-	-	-	-	-	-	-	-
Cash paid during the period for income taxes
-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Right of Use Asset additions under ASC 842
-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Lease Liabilities under ASC 842
-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Write-off deferred rent under ASC 842
-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock issued in lieu of cash for services
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Classification of assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,200	1,136	1,311	1,066	1	1,423	1,239	717	716	358	358	0	0	0	0
Acquisition of property and equipment financed by capital lease
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,811	1,811	124	124	0	0	0	0	-	-	-	-	-	-	-	-
Issuance of Convertible notes payable - related party
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock issued for conversion of notes payable and accrued interest
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Classification of assets held for sale
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities directly associated with assets held for sale
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	635	0	0	0	-	-	-	-	-	-	-	-
Cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock issued
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,956	-4,493	-4,493	-290	0	0	0	-	-	-	-	-	-	-	-
Cash paid for acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,927	9,866	9,866	4,453	0	0	0	-	-	-	-	-	-	-	-