Comtech telecommunications corp /de/ (CMTL)
CashFlow / Yearly
Jul'19Jul'18Jul'17Jul'16Jul'15Jul'14Jul'13Jul'12Jul'11Jul'10Jul'09
Cash flows from operating activities:
Net income

25,041

29,769

15,827

-7,738

23,245

25,151

17,808

32,416

67,895

60,630

47,525

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, plant and equipment

11,927

13,655

14,354

9,830

6,525

6,721

7,837

10,205

14,253

11,773

12,503

Amortization of acquired in-process research and development

-

-

-

-

-

-

-

-

-

-

6,200

Amortization of intangible assets with finite lives

18,320

21,075

22,823

13,415

6,211

6,285

6,328

6,637

8,091

7,294

7,592

Amortization of stock-based compensation

11,427

8,569

8,506

4,117

4,363

4,263

3,130

3,572

5,357

8,716

9,576

Amortization of fair value inventory step-up

-

-

-

-

-

-

-

-

-

-

1,520

Impairment of goodwill

-

-

-

-

-

-

-

-

-

13,249

0

Amortization of deferred financing costs

1,099

2,196

1,977

795

65

1,107

1,419

1,652

1,391

1,386

3,784

Settlement of intellectual property litigation

3,217

0

0

-

-

-

-

-

-

-

-

Estimated contract settlement costs

6,351

0

0

-

-

-

-

-

-

-

-

Settlement of intellectual property litigation

3,204

0

12,020

0

0

-

-

-

-

-

-

Loss on disposal of property, plant and equipment

-1,056

0

0

-359

0

-239

-3,267

-918

0

0

0

Changes in other liabilities

-

-

-

-

-

-

-

-

-

-

283

(Benefit from) provision for allowance for doubtful accounts

-144

-79

126

21

-3

-13

-9

-14

-7

-116

-62

Provision for excess and obsolete inventory

1,136

573

497

907

764

120

-422

458

244

219

-864

Deferred income tax expense

6,015

5,628

2,900

2,780

2,813

2,952

2,810

3,862

4,091

7,744

5,692

Deferred income tax expense

4,283

-6,379

9,056

-3,241

-2,365

-404

1,115

-4,570

761

-7,311

-1,354

Excess income tax benefit from stock-based award exercises

0

0

82

28

148

738

265

231

225

250

2,530

Changes in assets and liabilities, net of effects of business acquisitions:
Accounts receivable

-6,315

24,578

-25,508

-5,806

15,132

5,092

-6,591

-14,101

-64,795

56,582

-13,319

Inventories

3,787

20,065

-7,812

-8,280

3,446

-1,250

-4,093

4,407

5,224

-12,015

-13,395

Prepaid expenses and other current assets

-915

-787

956

-2,112

-543

1,879

-216

-1,427

-1,606

-4,789

7,175

Other assets

-102

140

-666

86

39

-46

-79

-201

-737

1,340

-72

Accounts payable

-21,290

13,728

-4,472

-1,255

-3,194

512

-2,577

-2,534

-54,343

58,611

-17,862

Accrued expenses and other current liabilities

3,554

-3,374

-21,796

-13,360

-815

-840

-9,484

-5,221

-4,866

484

-11,356

Contract liabilities

-127

9,143

-2,431

-6,397

1,631

-2,195

391

3,505

-1,927

-6,684

1,071

Other liabilities, non-current

-84

-682

-1,442

-882

-931

300

735

877

789

235

-

Interest payable

151

234

-1,039

1,292

-29

-1,372

0

-2

0

113

368

Income taxes payable

-2,418

126

1,355

-892

1,662

-1,373

1,149

-7,551

-6,072

9,313

6,714

Net cash provided by operating activities

68,031

50,344

66,917

15,075

21,726

34,588

37,695

53,493

97,360

124,520

88,535

Cash flows from investing activities:
Purchases of other intangibles with finite lives

-

-

-

-

-

-

-

-

50

113

100

Proceeds from sale of certain assets and liabilities

-

-

-

-

-

-

-

-

-

2,038

0

Payment for acquisition of CGC, net of cash acquired

25,883

0

0

280,535

0

0

-

-

2,850

0

205,360

Payment for acquisition of the GD NG-911 business

10,000

0

0

-

-

-

-

-

-

-

-

Purchases of property, plant and equipment

8,785

8,642

8,150

5,667

3,362

4,937

5,347

6,413

7,138

7,402

13,487

Net cash used in investing activities

-44,668

-8,642

-8,150

-286,202

-3,362

-4,937

-5,347

-6,413

-10,038

-5,477

-218,947

Cash flows from financing activities:
Net borrowings of long-term debt under Credit Facility

165,000

0

0

-

-

-

-

-

-

-

-

Net payments under Revolving Loan portion of Prior Credit Facility

-48,603

-8,800

-26,500

83,904

0

-

-

-

-

-

-

Repayment of debt under Term Loan portion of Prior Credit Facility

120,121

18,960

33,567

77,353

0

-

-

-

-

-

-

Remittance of employees' statutory tax withholdings for stock awards

5,042

1,143

262

105

-

-

-

-

-

-

-

Cash dividends paid

9,789

9,538

18,872

19,406

19,426

18,677

18,879

22,625

20,135

0

0

Repayment of principal amounts under capital lease and other obligations

1,906

2,802

3,592

1,753

0

149,963

-

-

-

-

-

Payment of deferred financing costs

1,813

0

1,085

9,464

0

84

-

-

-

118

-194,659

Proceeds from issuance of employee stock purchase plan shares

935

855

694

676

917

913

908

1,088

1,140

1,306

1,306

Payment of shelf registration costs

148

0

626

476

0

0

-

-

-

-

-

Proceeds from exercises of stock options

216

326

0

0

1,439

6,058

1,182

3,202

2,838

1,671

8,284

Excess income tax benefit from stock-based award exercises

0

0

82

28

148

738

265

231

225

250

2,530

Borrowings of long-term debt under Term Loan Facility

-

-

-

250,000

0

0

-

-

-

-

-

Proceeds received from equity offering

-

-

-

95,029

0

0

-

-

-

-

-

Required payments for debt assumed for business acquisition

-

-

-

134,101

0

0

-

-

-

-

-

Repayment of 3.0% convertible senior notes

-

-

-

-

-

-

0

0

-

-

-

Repurchases of common stock

-

-

-

-

4,989

70,729

26,954

219,375

119,617

0

0

Principal payments on other obligations

-

-

-

-

-

-

-

-

-

-

108

Fees related to line of credit

-

-

-

-

-

-

25

316

539

8

876

Payment of contingent consideration related to business acquisition

-

-

-

-

-

49

97

195

24

0

-

Net cash used in financing activities

-21,271

-40,062

-83,728

186,979

-21,911

-231,793

-43,600

-237,990

-136,112

3,101

205,795

Net increase in cash and cash equivalents

2,092

1,640

-24,961

-84,148

-3,547

-202,142

-11,252

-190,910

-48,790

122,144

75,383

Cash paid during the period for:
Interest

7,669

7,291

10,424

5,307

117

6,274

6,350

6,509

6,407

6,219

2,109

Income taxes, net

2,005

1,112

-758

3,678

11,441

15,134

7,420

23,746

39,498

35,107

20,787

Non-cash investing and financing activities:
Accrued remittance of employees' statutory tax withholdings for fully-vested share units

1,787

2,963

0

0

-

-

-

-

-

-

-

Cash dividends declared but unpaid (including dividend equivalents)

2,733

2,656

2,616

7,462

5,164

-

-

-

-

-

-

Common stock issued for acquisition of CGC

5,606

0

0

-

-

-

-

-

-

-

-

Capital lease and other obligations incurred

0

1,306

68

373

0

0

-

-

-

-

-

Accrued additions to property, plant and equipment

902

719

1,221

346

0

0

-

-

-

-

-

Issuance of restricted stock, net of forfeiture

1

-1

14

0

0

-

-

-

-

-

-

Equity-classified stock awards issued

-

-

-

-

-

139

0

0

-

-

-

Principal amount of 3.0% convertible senior notes converted into common stock

-

-

-

-

-

50,037

0

0

-

-

-

Business acquisition liabilities

-

-

-

-

-

-

-

-

4,170

1,350

-

Common stock issued in exchange for 2.0% convertible senior notes

-

-

-

-

-

-

-

-

-

-

105,000