COMTECH TELECOMMUNICATIONS CORP /DE/ CMTL Cash Flow

Comtech telecommunications corp /de/ (CMTL)

CashFlow / Quarterly

Jan'20	Oct'19	Jul'19	Apr'19	Jan'19	Oct'18	Jul'18	Apr'18	Jan'18	Oct'17	Jul'17	Apr'17	Jan'17	Oct'16	Jul'16	Apr'16	Jan'16	Oct'15	Jul'15	Apr'15	Jan'15	Oct'14	Jul'14	Apr'14	Jan'14	Oct'13	Jul'13	Apr'13	Jan'13	Oct'12	Jul'12	Apr'12	Jan'12	Oct'11	Jul'11	Apr'11	Jan'11	Oct'10	Jul'10	Apr'10	Jan'10	Oct'09
Cash flows from operating activities:
Net income
3,495	6,388	6,135	7,612	7,826	3,468	7,458	8,210	15,761	-1,660	7,314	4,417	6,585	-2,489	2,702	-14,355	2,476	1,439	5,475	4,960	7,585	5,225	7,988	5,875	5,983	5,305	5,156	2,852	2,365	7,435	7,928	6,066	5,821	12,601	11,888	14,255	16,096	25,656	13,469	21,796	16,333	9,032
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, plant and equipment
2,721	2,651	3,309	2,918	2,849	2,851	3,822	3,170	3,317	3,346	3,505	3,532	3,568	3,749	3,752	3,082	1,466	1,530	1,629	1,666	1,622	1,608	1,688	1,650	1,673	1,710	1,878	1,940	1,994	2,025	2,986	2,438	2,361	2,420	3,901	3,732	3,682	2,938	2,993	2,960	2,918	2,902
Amortization of intangible assets with finite lives
5,229	5,206	5,207	4,536	4,288	4,289	5,269	5,269	5,268	5,269	5,268	5,468	6,032	6,055	6,067	4,776	1,196	1,376	1,529	1,561	1,560	1,561	1,561	1,560	1,582	1,582	1,582	1,582	1,582	1,582	1,600	1,626	1,692	1,719	2,027	2,173	2,004	1,887	2,011	1,754	1,765	1,764
Amortization of stock-based compensation
1,238	879	8,071	1,119	1,191	1,046	5,638	1,104	1,080	747	5,526	991	1,019	970	951	1,041	1,074	1,051	721	1,244	1,061	1,337	1,177	1,070	1,069	947	885	694	806	745	854	809	1,036	873	1,380	1,118	1,351	1,508	2,958	2,332	1,650	1,776
Amortization of deferred financing costs
184	185	183	184	184	548	550	548	550	548	527	482	484	484	503	292	0	0	0	0	0	65	79	331	340	357	357	356	354	352	528	378	380	366	346	346	346	353	347	346	347	346
Settlement of intellectual property litigation
0	0	0	0	0	3,217	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Estimated contract settlement costs
-	230	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of property, plant and equipment
-1,034	-1,033	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-478	239	0	-6,534	889	2,378	-1,762	844	0	0	-	-	-	-	-	-	-	-
Changes in other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	218	213	137	-	95	-56	98
(Benefit from) provision for allowance for doubtful accounts
-20	3	-104	0	-8	-32	-2	-77	2	-2	-21	1	147	-1	6	13	1	1	0	0	-2	-1	3	26	-12	-30	23	0	-23	-9	-7	-5	-2	0	-8	0	2	-1	-29	-1	2	-88
Provision for excess and obsolete inventory
-283	-343	282	367	494	-7	161	-165	430	147	43	21	94	339	237	150	-110	630	449	241	-63	137	-78	106	-12	104	-21	-294	-318	211	472	36	5	-55	-58	-13	-95	410	60	90	-150	219
Deferred income tax expense
559	373	3,565	701	1,002	747	1,969	1,226	1,740	693	1,142	697	424	637	758	728	598	696	851	638	766	558	738	729	783	702	671	863	605	671	1,686	560	1,051	565	2,584	575	560	372	1,511	4,607	1,063	563
Deferred income tax expense
626	2,286	398	1,291	321	2,273	4,858	-19	-13,936	2,718	2,450	2,299	4,427	-120	-2,725	1,963	-838	-1,641	-1,262	-555	-232	-316	2,584	-1,299	-690	-999	83	3	-29	1,058	-727	-1,890	-1,477	-476	-633	1,036	188	170	-6,376	229	-86	-1,078
Excess income tax benefit from stock-based award exercises
-	-	-	-	-	-	-	-	-	-	4	17	11	50	5	18	1	4	8	2	39	99	-	-	-	-	-	-	-	-	89	60	63	19	71	41	116	-3	-2	21	107	124
Changes in assets and liabilities, net of effects of business acquisitions:
Accounts receivable
-15,727	15,947	4,655	-7,741	-15,496	12,267	20,792	9,587	4,918	-10,719	4,557	-5,076	-11,309	-13,680	17,251	-8,071	-5,711	-9,275	2,083	-1,034	7,506	6,577	-10,215	8,251	-5,153	12,209	2,148	5,374	-5,009	-9,104	-16,295	12,143	-13,565	3,616	558	-10,692	-9,581	-45,080	28,205	6,957	8,642	12,778
Inventories
2,558	-2,656	-5,349	-4,932	-1,172	15,240	455	6,073	3,256	10,281	-5,553	-3,134	-4,067	4,942	-3,212	-2,699	-3,867	1,498	-5,283	1,338	1,789	5,602	-6,142	-1,047	1,828	4,111	-4,976	1,788	2,137	-3,042	-2,617	2,017	1,627	3,380	-4,183	2,057	-4,349	11,699	114	-10,736	-3,022	1,629
Prepaid expenses and other current assets
2,979	-930	-2,484	3,137	1,486	-3,054	-65	1,023	-31	-1,714	-576	1,941	64	-473	-235	-41	-494	-1,342	-768	700	445	-920	-1,229	-1,200	4,614	-306	-726	-230	938	-198	-1,775	93	662	-407	-452	366	-785	-735	-873	2,312	-2,895	-3,333
Other assets
153	44	-136	141	-43	-64	-65	-52	57	200	-436	-29	-115	-86	-220	317	32	-43	-1	3	-1	38	14	-54	-9	3	-15	-49	-55	40	-236	12	5	18	-35	9	-706	-5	625	-13	635	93
Accounts payable
-2,029	4,299	-12,679	6,082	-5,513	-9,180	13,418	2,569	-2,869	610	1,616	2,484	-5,224	-3,348	8,591	-12,401	5,572	-3,017	688	-2,876	96	-1,102	2,556	-2,254	1,489	-1,279	6,241	-1,919	-142	-6,757	2,604	-305	37	-4,870	5,673	-5,563	-5,001	-49,452	34,046	10,167	9,423	4,975
Accrued expenses and other current liabilities
4,513	-1,095	-2,168	2,440	-5,244	8,526	-3,422	5,194	-2,767	-2,379	-5,208	-12,706	-1,777	-2,105	-9,347	-3,529	3,585	-4,069	2,337	-518	1,374	-4,008	-589	3,323	-219	-3,355	-730	-109	-1,372	-7,273	1,790	1,992	-2,537	-6,466	4,607	1,602	2,705	-13,780	4,857	5,692	-8,721	-1,344
Contract liabilities
2,941	-822	-1,460	2,190	2,090	-2,947	895	8,013	1,870	-1,635	-6,392	6,950	-1,298	-1,691	-487	2,202	-4,006	-4,106	-3,432	9,149	-2,680	-1,406	-5,311	2,707	-4,337	4,746	1,475	2,902	-1,400	-2,586	-2,635	9,103	-889	-2,074	-5,405	-2,609	-17	6,104	1,829	-235	-5,524	-2,754
Other liabilities, non-current
29	3	-461	102	0	275	-12	-428	71	-313	-400	-293	-329	-420	0	-613	-388	119	-323	-318	-386	96	84	67	74	75	75	72	70	518	211	220	221	225	-	-	-	-	-	-	-	-
Interest payable
-112	-133	82	-108	632	-455	-16	449	14	-213	187	-755	-394	-77	1,210	82	0	0	-	-	-	-	-2,872	1,500	-1,500	1,500	-	-	-	1,500	-1,515	1,491	-1,478	1,500	-1,500	1,500	-1,516	1,516	-1,500	1,500	-1,397	1,510
Income taxes payable
-2,050	-1,221	1,339	-466	1,133	-4,424	255	2,853	364	-3,346	5,393	487	-1,079	-3,446	4,544	-5,000	-2,344	1,908	1,420	1,740	-4,428	2,930	-2,686	1,379	-3,657	3,591	2,453	837	-4,603	2,462	-301	-1,315	-5,461	-474	-651	-1,898	-10,876	7,353	500	1,752	846	6,215
Net cash provided by operating activities
25,822	5,445	14,188	40,805	27,168	-14,130	19,728	21,439	2,691	6,486	22,996	18,313	17,822	7,786	2,802	-11,119	18,319	5,073	14,043	15,923	-3,530	-4,710	23,799	10,735	1,294	-1,240	21,976	4,325	-484	11,878	36,248	6,045	11,972	-772	28,429	24,691	24,943	19,297	42,012	54,545	14,942	13,021
Cash flows from investing activities:
Proceeds from sale of certain assets and liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	350	1,688
Payment for acquisition of CGC, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	300	150	2,400	0	0	0	0
Purchases of property, plant and equipment
1,258	1,250	2,397	2,207	2,536	1,645	3,343	2,463	1,728	1,108	1,927	2,076	2,072	2,075	2,604	1,600	827	636	529	688	1,398	747	401	1,112	2,397	1,027	1,330	1,560	1,394	1,063	1,946	1,807	1,217	1,443	2,370	1,418	1,350	2,000	3,200	1,162	1,820	1,220
Net cash used in investing activities
-12,423	-1,250	-2,397	-38,090	-2,536	-1,645	-3,343	-2,463	-1,728	-1,108	-1,927	-2,076	-2,072	-2,075	-2,604	-282,135	-827	-636	-529	-688	-1,398	-747	-401	-1,112	-2,397	-1,027	-1,330	-1,560	-1,394	-1,063	-1,946	-1,807	-1,217	-1,443	-2,370	-1,718	-1,550	-4,400	-3,200	-1,162	-1,583	468
Cash flows from financing activities:
Net (payments) borrowings of long-term debt under Credit Facility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net borrowings of long-term debt under Credit Facility
-	4,000	-	-	-	193,400	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net payments under Revolving Loan portion of Prior Credit Facility
0	0	0	0	0	-48,603	-9,801	-8,399	3,000	6,400	-8,200	-14,200	-5,100	1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt under Term Loan portion of Prior Credit Facility
0	0	0	240,242	-240,242	120,121	4,303	4,303	3,227	7,127	25,820	3,320	2,215	2,212	74,228	3,125	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Remittance of employees' statutory tax withholdings for stock awards
686	4,560	10	11	4	5,017	88	57	3	995	18	0	81	163	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends paid
2,428	2,692	2,408	2,383	2,383	2,615	2,365	2,352	2,362	2,459	2,354	2,341	7,054	7,123	4,866	4,849	4,847	4,844	4,845	4,869	4,863	4,849	4,898	4,726	4,529	4,524	4,544	0	9,562	4,773	5,071	5,352	6,102	6,100	-	-	-	-	-	-	-	-
Payment of deferred financing costs
0	0	0	5	37	1,771	0	0	0	0	981	0	-1	105	-659	10,123	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	118
Repayment of principal amounts under finance lease and other obligations
113	198	-	326	409	454	-	516	614	723	-	886	910	943	-	717	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of employee stock purchase plan shares
264	246	226	233	235	241	236	222	208	189	180	166	165	183	177	151	173	175	210	228	236	243	243	240	216	214	214	216	230	248	263	269	269	287	283	270	301	286	313	314	343	336
Payment of shelf registration costs
-	-	-	-	-	-	-	-	-	-	0	0	134	492	139	259	78	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercises of stock options
162	306	42	0	0	174	196	130	0	0	-	-	-	-	-	-	-	-	-	-	-	-	2,614	885	2,480	79	695	41	123	323	75	540	346	2,241	1,533	293	399	613	194	404	299	774
Excess income tax benefit from stock-based award exercises
-	-	-	-	-	-	-	-	-	-	4	17	11	50	5	18	1	4	8	2	39	99	-	-	-	-	-	-	-	-	89	60	63	19	71	41	116	-3	-2	21	107	124
Repurchases of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,607	29,015	25,522	3,585	2,722	13,755	10,477	0	29,313	32,317	79,094	78,651	51,546	21,267	26,652	20,152	0	0	0	0
Fees related to line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	2	537	0	0	8	0
Payment of contingent consideration related to business acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	43	6	19	68	9	1	32	6	94	63	-	-	-	-	-	-	-	-
Net cash used in financing activities
-13,801	-2,898	-11,367	-3,560	-21,578	15,234	-17,074	-15,275	-2,998	-4,715	-38,042	-20,564	-15,317	-9,805	-2,505	198,900	-4,751	-4,665	-4,605	-8,330	-4,469	-4,507	-163,931	-32,583	-27,457	-7,822	-6,201	-13,495	-19,701	-4,203	-34,057	-36,805	-84,861	-82,267	-56,196	-27,370	-32,753	-19,793	505	739	741	1,116
Net increase in cash and cash equivalents
-402	1,297	424	-845	3,054	-541	-689	3,701	-2,035	663	-16,973	-4,327	433	-4,094	-2,307	-94,354	12,741	-228	8,909	6,905	-9,397	-9,964	-140,533	-22,960	-28,560	-10,089	14,445	-10,730	-21,579	6,612	245	-32,567	-74,106	-84,482	-30,137	-4,397	-9,360	-4,896	39,317	54,122	14,100	14,605
Cash paid during the period for:
Interest
1,501	1,701	1,816	2,009	1,374	2,470	1,943	1,371	1,813	2,164	1,840	3,046	2,689	2,849	2,331	2,976	0	0	0	0	29	88	3,010	86	3,088	90	3,087	86	3,090	87	3,176	140	3,098	95	3,098	94	3,101	114	3,087	94	2,975	63
Income taxes, net
2,545	79	423	641	916	25	767	237	221	-113	-2,998	97	139	2,004	-1,088	335	3,931	500	2,471	1,051	7,719	200	4,034	2,876	7,768	456	371	-21	6,500	570	5,382	5,883	10,022	2,459	8,348	6,946	18,512	5,692	16,671	10,734	8,566	-864
Non-cash investing and financing activities:
Reclass of finance lease right-of-use assets to property, plant and equipment
403	295	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash dividends declared but unpaid (including dividend equivalents)
61	2,484	80	105	85	2,463	55	95	94	2,412	46	48	-4,615	7,137	2,197	59	52	5,154	-	-	-	-	-	-	-	4,555	-	-	-	4,784	-	-	-	-	-	-	-	-	-	-	-	-
Accrued additions to property, plant and equipment
95	692	-	285	168	795	-	389	308	794	-	-323	-78	1,225	-	125	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued deferred financing costs
0	0	-	-	-37	41	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of restricted stock, net of forfeiture
-	-	-	-	-	-	0	0	0	-1	0	-1	1	14	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity-classified stock awards issued
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	139	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Business acquisition liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	104	-37	0	4,103	-	-	-	-