CPI AEROSTRUCTURES INC CVU Cash Flow

Cpi aerostructures inc (CVU)

CashFlow / Quarterly

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	Dec'11	Sep'11	Jun'11	Mar'11
Net income
-	-	1,658	-	-	-	1,256	2,057	1,695	765	1,249	2,135	1,686	1,790	-9,220	651	2,446	990	928	1,717	1,036	-29,691	1,728	2,370	1,911	1,784	1,671	3,600	2,795	2,696	1,919	2,673	1,805	1,570	1,368
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
245	274	209	188	187	179	153	157	157	152	149	106	166	194	194	230	211	207	204	207	194	186	175	186	179	175	163	165	158	155	145	210	170	112	97
Debt issuance costs
23	24	20	36	16	21	21	37	5	21	21	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash lease expense
-28	-28	-28	-	-17	-17	-17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
253	209	330	135	76	155	303	107	90	274	422	-40	149	141	273	32	76	141	273	116	145	102	102	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued as employee compensation
-	-	-	0	0	0	45	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	-	2	2	2	1	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	7	-	-	-	-	-	11	11	11	-	4	4	4	18	9	13	13	31	13	22	22	185	72	4	4
Loss on disposal of fixed asset
-	-	-	-	-	-	-	0	0	0	-21	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	-207	-	-	-	405	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefit from stock option plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	33	0	0	34	52	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense
-	-	-	-	-	-	-	-	-	-	-	64	-0	0	395	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	360	-	0	0	382	-	-	-	-
Stock option expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	286
Deferred income taxes
-	-	-	-	-	-	-	-	646	435	720	1,383	903	1,051	-5,415	1,034	1,057	516	50	9,273	1,564	-14,736	108	-90	-7	6	-16	65	3	-20	-37	91	79	-271	-2
Tax benefit (provision) from stock option plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	-	-162	0	0	-	-	-	-
Changes in operating assets and liabilities:
Increase in accounts receivable
1,884	1,816	-2,040	686	1,098	1,406	-1,395	636	-1,446	-1,835	-338	-425	-706	-28	2,469	-1,013	1,158	-1,145	2,249	-2,435	-3,180	3,973	3,716	-7,412	2,099	309	2,621	-546	64	509	3,923	-4,827	4,742	-269	-1,437
Increase in contract assets
1,203	-495	7,416	165	-2,012	1,156	2,865	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in inventory
-1,551	865	1,378	-	-30	76	49	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in refundable income taxes
0	0	-435	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in contract assets
-	-	-	-	-	-	-	-	-	-237	2,351	3,834	1,753	1,105	-9,738	6,085	6,354	7,265	3,862	1,262	4,230	-45,644	6,608	-	-	-	-	-	-	-	-	-	-	-	-
Increase in costs and estimated earnings in excess of billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,101	-	7,491	6,227	3,480	13,641	4,585	5,582	8,133
Decrease in prepaid expenses and other assets
-152	-86	-558	229	-336	257	-98	-41	-40	-236	576	-576	1,296	94	199	155	-93	44	129	-15	1	104	128	-36	77	-37	179	53	-293	215	-215	-24	150	-27	-90
Increase (decrease) in accounts payable and accrued expenses
-116	-985	1,993	-2,348	-1,728	-371	-3,247	2,515	4,084	-2,359	-2,612	634	995	-2,284	-3,368	3,977	3,365	1,910	193	1,074	1,147	-467	-39	720	-187	-863	-5,486	4,926	-133	-2,496	-831	2,080	2,342	-1,223	1,222
(Decrease) increase in contract liabilities
-	-	-686	-	-	-	35	-447	-718	186	-266	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in billings in excess of costs and estimated earnings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-715	452	306	-103	62	15	-25	-70	-14	-135	164	-96	-	-	-	-	-	-	-	-	-	-	-	-
(Decrease) increase in accrued losses on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-655	-1,507	-1,619	4,609	-440	-751	1,134	211	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in billings in excess of costs and estimated earnings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-346	-	0	93	-93	-	-	-	-
Decrease in income taxes payable
-453	200	138	115	0	0	-109	-	-	-	-	-18	9	-3	-170	11	163	-1	48	-79	0	-478	-171	478	-118	53	169	-1,466	-1,767	1,023	-172	1,131	647	861	466
Net cash used in operating activities
-645	-1,061	-2,332	514	533	-1,009	-2,573	1,781	905	1,777	-2,891	-	-	-	-	-	-	6,853	-4,424	-	1,808	-757	-8,693	11,685	-785	-285	-7,346	-4,317	-6,430	-5,477	-5,851	-2,023	-4,484	-4,021	-3,171
Net cash used in operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-1,592	-5,734	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from investing activities:
Purchase of property and equipment
20	103	210	37	151	213	156	41	92	57	90	42	0	4	89	82	21	0	105	88	198	258	56	36	52	253	294	115	35	167	505	844	481	55	205
Proceeds from sale of fixed assets
-	-	-	-	-	-	-	0	0	0	42	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-20	-103	-210	-6,088	-151	-213	-156	-41	-92	-57	-47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from financing activities:
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-4	-89	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	80	0	0	169	278	-	-	0	0	-	-	-	-	-	0	132	119
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	983	241	-	-	-	-
Payments on long-term debt
618	619	603	4,977	575	528	418	2,100	800	700	500	0	900	300	29,200	1,000	0	8,650	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from line of credit
-	-	-	1,500	1,700	2,500	2,000	1,500	0	0	3,000	500	400	2,000	26,238	0	2,200	2,000	4,000	0	0	1,000	7,500	1,000	2,500	1,000	6,500	6,850	3,000	0	1,500	3,500	4,800	4,100	2,900
Payments on line of credit
0	0	300	-	-	-	-	420	416	334	169	195	162	113	1,238	261	250	253	249	311	248	191	272	276	268	274	281	995	443	372	230	310	149	209	180
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	-	-	0	0	0	10,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock offering costs paid
0	55	64	-	-	-	-	-	-	-	-	100	-0	0	153	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	4,500	0	0	0	0
Tax benefit from stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	33	0	0	34	52	53	0	0	-26	151	162	0	0	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	1,586	5,646	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
381	1,300	-967	10,873	-584	1,971	1,581	-1,020	-1,216	-1,034	2,330	-	-	-	-	-	-	-6,903	3,863	-	-1,748	1,012	7,557	-10,323	1,231	-274	6,192	6,071	3,934	8,718	6,010	3,393	4,650	4,461	2,838
Net decrease in cash and restricted cash
-	-	-3,510	-	-	-	-1,147	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash
-	-	-	-	-	-	-	-	-404	684	-608	374	-148	-10	-177	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-538
Net increase (decrease) in cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-666	-	-138	-3	-1,192	1,325	393	-813	-1,448	1,637	-2,531	3,073	-347	-	-	-	-
Supplemental disclosures of cash flow information:
Cashless exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Cash paid during the period for:
Interest
76	778	551	533	553	617	429	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued for bonuses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	152	-	0	0	228	-	-	-	-
Interest
-	-	-	-	-	-	-	-	-	-	389	376	394	28	383	263	266	237	233	207	237	220	250	346	225	174	238	-124	301	334	272	146	328	-67	-40
Income taxes
-37	51	90	-	-	-	-	0	116	14	13	41	58	36	165	351	0	0	0	0	5	0	850	750	1,000	750	500	3,491	2,994	400	1,000	0	360	0	-180
Noncash investing and financing activities:
Equipment acquired under financing lease
0	0	399	-	-	-	-	-	-	-	-	0	232	0	232	131	0	24	91	-	-	-	-	-	-	-	-	0	0	76	0	175	919	-157	-185