Cambrex corp (CBM)
CashFlow / Quarterly
Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'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'11
Cash flows from operating activities:
Net income

9,546

15,618

10,409

1,212

26,729

40,419

24,058

40,259

17,296

25,030

19,865

37,384

9,218

20,494

14,582

17,814

11,747

19,663

7,993

27,885

8,769

19,667

982

8,899

3,574

2,274

11,168

43,648

1,689

9,928

7,038

741

2,761

4,757

2,709

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

14,963

14,278

14,702

13,654

9,184

7,502

7,517

8,825

8,196

7,642

7,185

6,948

6,443

5,696

5,578

5,741

5,635

5,388

5,297

5,911

6,066

5,966

5,883

5,842

5,745

5,553

5,333

5,641

5,324

5,324

5,486

5,799

5,718

5,878

5,725

Non-cash deferred revenue

1,492

4,654

2,543

593

2

306

808

-104

876

404

3,711

22,850

356

306

2,310

140

35

12,060

137

-

-

-

-

593

-1,039

582

9,957

-

-

-

-

-

-

-

-

Increase in inventory reserve

2,308

2,309

2,314

1,280

1,485

1,721

2,481

1,675

899

1,630

688

1,935

861

3,153

1,936

-442

1,445

710

1,406

73

2,579

1,768

923

-199

1,577

-333

1,284

360

476

735

1,219

933

8

652

44

Unrealized loss/(gain) on investment in equity securities

-

-3,235

-569

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain on foreign currency contracts

-25

-303

562

-

-

-

-

-

-

-

-

-

-

-858

1,006

-

-

-

-834

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain)/loss on sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,603

5

0

0

0

-

-

-

-

Stock based compensation

1,751

1,555

1,659

-12

903

1,553

1,650

2,593

2,288

2,247

1,786

2,577

1,889

1,765

1,535

1,762

1,433

1,327

1,077

2,151

903

1,034

914

819

764

749

493

532

476

437

357

404

408

428

325

Deferred income tax provision

-983

4,450

558

11,968

-17,754

3,047

682

6,099

-882

1,335

634

718

-1,034

4,961

3,911

10,574

2,728

4,358

2,076

-6,496

1,309

-10,266

-572

4,717

271

-1,004

1,918

-39,476

-1,268

127

-95

-144

-508

335

-404

Equity in losses of partially-owned affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-605

-508

-668

-481

-545

-630

-383

-208

-457

-497

-303

-364

Other

-1,510

179

-1,022

-280

70

-277

353

-65

-662

-191

337

105

189

-216

-238

2

47

53

39

296

-270

6

-616

-86

245

-241

-266

-82

-13

-1

-252

-87

-183

-21

-74

Changes in assets and liabilities:
Trade receivables

-19,373

24,458

-75,527

74,327

-38,561

48,574

-22,157

-

-

-

-43,313

49,333

-29,191

30,839

-45,861

52,480

-8,484

6,145

-35,763

33,827

-21,961

29,137

-32,048

26,891

526

1,837

-1,547

7,210

-8,572

5,681

1,991

5,366

-5,067

-439

-1,926

Contract assets

5,872

20,506

38,629

-79,063

1,902

18,965

37,280

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Inventories

10,872

-8,034

12,596

9,405

-2,780

975

58

-24,962

7,080

2,919

28,246

-16,409

5,067

14,012

21,009

-19,821

6,043

17,536

28,963

-13,102

5,702

6,511

9,951

-12,288

3,979

22,456

5,181

1,437

578

3,394

4,886

-1,743

1,173

754

3,339

Prepaid expenses and other current assets

2,775

-3,058

6,390

-8,481

148

-7,835

1,241

8,053

-1,238

2,829

-1,521

-1,415

-3,317

1,468

3,993

-4,837

-582

2,213

-1,062

115

1,982

1,627

2,042

1,717

-560

296

1,198

-575

-1,308

2,696

-625

-3,190

-58

2,806

-287

Accounts payable and other current liabilities

5,665

-8,500

-1,297

15,169

-27,673

6,073

4,124

-3,692

-3,242

-3,198

-9,982

20,560

3,161

-16,062

4,397

-2,063

11,167

4,842

-2,167

4,237

6,703

5,412

-3,983

2,669

-846

10,336

-2,052

2,239

-3,603

5,914

-1,416

6,395

-1,093

869

76

Contract liabilities, current

1,779

6,219

924

2,767

-2,546

1,856

1,161

473

-2,786

1,848

1,450

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue and advance payments

-

-

-

-

-

-

-

-

-

-

-

-

-1,395

832

39,926

-13,162

2,811

9,972

12,557

10,062

80

557

1,074

19,173

-10,864

-107

10,442

-

-

-

416

-

-

-

-

Other non-current assets and liabilities

-108

581

44

-672

1,789

1,937

-388

3,326

2,845

-156

-407

1,197

3,416

-505

-147

2,353

-333

2,441

870

-2,015

1,275

2,686

441

-5,747

-2,455

1,669

-4,696

-815

-619

-115

1,367

2,772

-1,506

390

3,941

Discontinued operations:
Non-cash adjustments to net income

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-current liabilities

-2,075

118

152

157

99

534

265

440

118

377

1,923

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in discontinued operations

-204

-245

-217

-359

-126

-139

-292

-255

5

-679

-511

-204

-117

-577

382

-474

-399

-146

-517

-364

-382

-243

-869

-720

-352

-416

-45

-2,278

-353

-36

-1,080

-337

-152

-37

-75

Net cash provided by operating activities

37,304

369

45,558

47,218

22,262

-6,949

24,451

76,930

35,008

1,092

35,985

18,763

49,402

-24,784

90,175

5,006

39,841

4,832

35,372

23,597

28,841

-12,052

24,582

30,735

-40

-8,413

14,592

3,204

24,835

10,741

4,766

11,412

13,444

9,695

3,771

Cash flows from investing activities:
Capital expenditures

10,475

15,851

19,237

19,053

10,812

8,942

23,791

13,902

15,379

10,690

12,172

12,008

11,153

6,713

19,840

22,785

14,150

12,915

12,641

5,229

8,655

1,853

7,586

13,113

8,832

18,854

16,521

9,094

2,178

4,268

2,616

5,632

4,686

3,000

1,690

Proceeds from sale of assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

659

417

809

470

441

28

0

1,909

16

0

0

0

-

-

-

-

Advances to partially-owned affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

472

714

500

0

441

726

928

393

0

-

-

-

-

Acquisition of businesses, net of cash acquired

0

1

248,467

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-13

0

0

652

-596

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-2,695

-15,852

-267,704

-24,334

-429,775

-8,942

-23,791

-13,902

-12,543

-10,690

-12,172

-36,283

-11,153

-6,713

-19,827

-22,759

-13,970

-11,465

-12,045

-4,570

-8,238

-4,402

-7,588

-13,234

-9,456

-18,854

-15,053

-9,810

-3,103

-4,653

-2,616

-6,130

-4,668

-3,000

-1,690

Cash flows from financing activities:
Borrowings

0

10,000

220,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,500

4,500

17,250

1,500

13,200

20,250

25,000

12,500

5,500

0

0

0

100,500

400

0

4,900

Repayments

12,500

2,500

22,500

-

-

-

-

-

-

-

-

0

0

0

30,000

-

-

-

-

2,500

18,500

3,250

20,750

35,000

6,200

11,000

3,500

9,500

12,000

4,000

14,000

101,500

17,800

1,500

2,900

Debt issuance costs

0

0

2,836

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments under finance lease obligations

233

251

276

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

30,000

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from stock options exercised

1,570

113

65

1,356

8,086

1,877

2,722

1,333

475

2,248

725

2,825

160

1,536

420

2,857

1,064

355

1,540

704

1,781

402

1,316

1,594

202

809

619

283

1,072

0

0

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4

-

562

239

60

-

-

-

0

1

0

0

-302

-1

-119

34

64

-5

-3

-3

-329

Net cash provided by financing activities

-11,163

7,362

194,453

-23,644

333,086

1,877

2,722

1,333

475

2,248

725

2,825

160

-983

-29,576

1,996

-28,374

594

1,600

770

-11,763

14,402

-17,934

-20,205

14,252

14,809

9,317

-3,718

-11,047

-3,966

-13,936

-2,434

-17,370

-1,503

1,671

Effect of exchange rate changes on cash and cash equivalents

-1,996

-35

-620

-523

214

-2,206

902

-

-

-

495

-1,900

-146

-644

851

-451

87

727

-2,535

-784

-1,785

-278

-25

357

789

128

-530

358

1,005

-1,072

642

-637

-2,607

377

1,976

Net decrease in cash and cash equivalents

21,450

-8,156

-28,313

-1,283

-74,213

-16,220

4,284

64,881

24,226

-4,997

25,033

-16,595

38,263

-33,124

41,623

-16,208

-2,416

-5,312

22,392

19,013

7,055

-2,330

-965

-2,347

5,545

-12,330

8,326

-9,966

11,690

1,050

-11,144

2,211

-11,201

5,569

5,728