CPI AEROSTRUCTURES INC CVU Cash Flow

Cpi aerostructures inc (CVU)

CashFlow / TTM

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
-	-	2,613	-	-	-	5,775	5,767	5,845	5,836	6,860	-3,608	-5,091	-4,331	-5,132	5,015	6,081	4,672	-26,010	-25,209	-24,556	-23,681	7,794	7,736	8,967	9,851	10,763	11,011	10,083	9,093	7,968	7,416	0	0	0
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
918	860	766	710	678	647	619	616	565	575	617	661	785	830	843	854	830	814	793	763	742	727	715	704	683	662	642	623	669	681	638	591	0	0	0
Debt issuance costs
104	97	94	95	96	85	85	85	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash lease expense
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
928	752	698	671	643	657	775	895	746	806	674	524	597	524	524	524	608	677	637	467	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued as employee compensation
-	-	-	45	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	-	8	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	0	0	0	-	31	35	45	54	68	72	81	90	244	303	285	266	0	0	0
Loss on disposal of fixed asset
-	-	-	-	-	-	-	-21	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax benefit from stock option plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	33	33	67	86	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Bad debt expense
-	-	-	-	-	-	-	-	-	-	-	460	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-
Stock option expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Deferred income taxes
-	-	-	-	-	-	-	-	3,185	3,442	4,057	-2,077	-2,426	-2,271	-2,806	2,659	10,898	11,405	-3,847	-3,790	-13,153	-14,725	17	-107	48	58	32	11	37	113	-138	-103	0	0	0
Tax benefit (provision) from stock option plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-
Changes in operating assets and liabilities:
Increase in accounts receivable
2,348	1,562	1,151	1,796	1,745	-799	-4,041	-2,984	-4,046	-3,306	-1,498	1,309	721	2,586	1,469	1,249	-173	-4,511	608	2,074	-2,902	2,376	-1,287	-2,382	4,484	2,449	2,649	3,951	-329	4,348	3,569	-1,791	0	0	0
Increase in contract assets
8,290	5,073	6,726	2,174	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in inventory
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in refundable income taxes
0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase in contract assets
-	-	-	-	-	-	-	-	-	7,702	9,045	-3,043	-793	3,807	9,967	23,568	18,745	16,621	-36,289	-33,542	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Increase in costs and estimated earnings in excess of billings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	30,839	27,934	27,289	31,942	0	0	0
Decrease in prepaid expenses and other assets
-568	-752	-408	51	-219	76	-417	257	-277	1,059	1,390	1,013	1,745	356	307	237	65	159	219	219	198	274	132	183	273	-97	155	-240	-318	125	-117	8	0	0	0
Increase (decrease) in accounts payable and accrued expenses
-1,457	-3,069	-2,455	-7,696	-2,831	2,981	992	1,627	-253	-3,342	-3,267	-4,023	-680	1,689	5,885	9,446	6,543	4,326	1,948	1,715	1,361	26	-370	-5,817	-1,610	-1,556	-3,189	1,465	-1,380	1,096	2,369	4,423	0	0	0
(Decrease) increase in contract liabilities
-	-	189	-	-	-	-944	-1,246	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in billings in excess of costs and estimated earnings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-60	717	280	-51	-18	-95	-246	-56	-82	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
(Decrease) increase in accrued losses on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	827	1,042	1,798	4,551	153	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Decrease in billings in excess of costs and estimated earnings on uncompleted contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-
Decrease in income taxes payable
0	453	253	5	0	0	0	-	-	-	-	-183	-152	0	2	220	129	-33	-510	-730	-171	-290	241	582	-1,362	-3,011	-2,041	-2,383	215	2,630	2,467	3,105	0	0	0
Net cash used in operating activities
-3,525	-2,346	-2,294	-2,535	-1,267	-895	1,890	1,572	0	0	0	-	-	-	-	-	-	0	0	-	4,043	1,448	1,920	3,267	-12,734	-18,379	-23,572	-22,077	-19,783	-17,837	-16,382	-13,701	0	0	0
Net cash used in operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from investing activities:
Purchase of property and equipment
372	503	613	559	562	503	347	281	283	190	136	136	176	198	194	209	215	393	652	602	550	404	398	637	716	699	613	825	1,554	2,000	1,887	1,587	0	0	0
Proceeds from sale of fixed assets
-	-	-	-	-	-	-	42	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-6,423	-6,554	-6,664	-6,609	-562	-503	-347	-239	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash flows from financing activities:
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	80	80	80	249	447	0	0	0	-	-	0	0	-	-	-	-	-	0	0	0
Proceeds from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Payments on long-term debt
6,817	6,775	6,684	6,500	3,622	3,846	4,018	4,100	2,000	2,100	1,700	30,400	31,400	30,500	38,850	9,650	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from line of credit
-	-	-	7,700	7,700	6,000	3,500	4,500	3,500	3,900	5,900	29,138	28,638	30,438	30,438	8,200	8,200	6,000	5,000	8,500	9,500	12,000	12,000	11,000	16,850	17,350	16,350	11,350	8,000	9,800	13,900	15,300	0	0	0
Payments on line of credit
0	0	0	-	-	-	-	1,341	1,116	862	641	1,710	1,775	1,863	2,002	1,013	1,064	1,062	1,000	1,024	989	1,008	1,092	1,101	1,820	1,996	2,093	2,042	1,357	1,062	900	849	0	0	0
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	-	-	10,000	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock offering costs paid
0	0	0	-	-	-	-	-	-	-	-	253	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	4,500	4,500	4,500	4,500	0	0	0	0
Tax benefit from stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	33	33	67	86	139	139	105	27	125	287	287	313	0	0	0	-	-	-	-
Net cash provided by financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by financing activities
11,588	10,622	11,293	13,842	1,947	1,316	-1,690	-941	0	0	0	-	-	-	-	-	-	0	0	-	-3,502	-522	-1,809	-3,174	13,220	15,922	24,916	24,734	22,056	22,772	18,515	15,343	0	0	0
Net decrease in cash and restricted cash
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in cash
-	-	-	-	-	-	-	-	45	301	-393	37	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net increase (decrease) in cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-9	522	-287	-543	-231	-3,156	730	1,831	0	0	0	-	-	-	-
Supplemental disclosures of cash flow information:
Cashless exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Cash paid during the period for:
Interest
1,940	2,416	2,256	2,134	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued for bonuses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Interest
-	-	-	-	-	-	-	-	-	-	1,188	1,182	1,069	941	1,150	1,000	944	915	897	915	1,054	1,043	997	985	514	589	749	783	1,053	1,081	679	366	0	0	0
Income taxes
0	0	0	-	-	-	-	144	186	128	150	302	611	553	516	351	0	5	5	855	1,605	2,600	3,350	3,000	5,741	7,736	7,386	7,886	4,394	1,760	1,360	180	0	0	0
Noncash investing and financing activities:
Equipment acquired under financing lease
0	0	0	-	-	-	-	-	-	-	-	465	597	364	388	247	0	0	0	-	-	-	-	-	-	-	-	76	252	1,171	936	751	0	0	0