Emcore corp (EMKR)
CashFlow / Quarterly
Mar'20Dec'19Sep'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'11Dec'10
Cash flows from operating activities:
Net loss

-5,081

-1,335

-

-

-4,994

-5,538

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

-

-

-

-

-

-

-5,886

-8,414

-3,071

-82

2,205

2,425

1,848

1,757

1,996

1,301

3,982

987

1,480

2,440

3,052

56,128

15,488

-3,150

-5,432

-2,054

-2,252

-7,283

11,697

2,826

-6,568

-9,039

-9,335

-14,229

-14,290

-11,079

-5,205

-3,645

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

1,332

1,981

2,131

1,783

1,634

1,594

1,515

1,497

1,403

1,202

1,111

961

927

758

810

615

575

506

606

543

569

1,234

2,182

2,173

2,095

2,068

2,527

2,099

2,044

2,018

2,302

1,966

2,377

2,775

3,070

2,933

2,963

3,007

Stock-based compensation expense

1,045

801

783

677

722

425

935

865

933

915

930

1,091

809

772

457

709

533

387

442

384

1,152

2,608

1,020

1,180

1,104

1,135

924

1,152

1,051

1,082

1,759

1,275

2,542

2,180

1,856

2,961

1,489

1,122

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

24,080

-24,080

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

87,022

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Provision adjustments related to doubtful accounts

0

111

0

62

0

0

0

524

58

17

16

0

7

0

3

16

0

4

33

60

173

290

-

-

-

-

-

-

-

-

17

-88

0

-87

-33

-16

15

64

Gain on sale of an investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

17

290

-

0

0

0

-

-

-

-

-

-

-

-

Provision adjustments related to doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-35

-

-80

15

0

-

-

-

-

-

-

-

-

Provision adjustments related to product warranty

51

49

47

34

49

56

95

54

224

58

85

185

215

88

74

68

88

146

131

192

113

402

263

289

1,297

265

299

214

1,772

629

-

-

-

-

-

168

-67

211

Provision for losses on inventory purchase commitments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Loss from equity method investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-241

-960

-996

-259

-587

0

Change in fair value of financial instruments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

86

36

-5

110

7

-78

172

373

-267

237

21

61

-256

105

1,487

-107

-1,038

-272

Gain from change in estimate on ARO obligation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

845

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Reclassification of foreign currency translation adjustment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

744

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Gain on settlement of solar power assets and obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

689

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision adjustments related to product warranty

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

238

-103

86

-172

-

-

-

-

Gain on settlement of Newark lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

310

-

0

0

0

-

-

-

-

-

-

-

-

-723

-278

-435

-908

-

-

-

-

Net gain on disposal of equipment

315

1,602

302

0

0

0

5

0

68

-107

134

322

0

0

-

-

-

-

0

0

0

-237

100

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other

-159

259

-536

-244

344

-28

-312

-743

511

132

371

253

-574

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total non-cash adjustments

2,272

1,081

-

-

2,061

2,103

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash insurance proceeds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-2,866

14,808

4,192

2,609

0

0

0

-

-

-

-

Net loss on disposal of equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-150

0

38

-35

-238

0

0

0

Settlement of customer related warranty claim

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-293

114

5,698

0

0

0

0

Total non-cash adjustments

-

-

-

-

-

-

2,852

3,683

2,039

2,167

1,675

1,662

3,000

1,618

1,344

1,367

-3,031

44

660

1,081

-353

-59,796

-20,391

3,403

4,868

3,221

-1,376

5,878

-9,659

-700

2,134

1,812

5,841

12,536

13,298

6,412

6,025

4,676

Changes in operating assets and liabilities:
Accounts receivable

903

1,450

-

-5,908

1,700

-911

-

-2,374

-5,305

883

-

4,853

-3,620

2,645

-3,187

2,341

4,894

-2,877

3,302

-2,969

1,475

-5,334

1,688

5,605

1,947

-5,950

2,711

-372

2,808

-180

6,201

2,615

2,332

-9,441

-5,649

312

-3,284

5,343

Inventory

-1,424

902

-7,697

1,910

-307

-392

-3,290

264

128

-2,169

-1,642

-575

-2,192

4,549

4,484

6,648

1,887

-2,115

414

1,485

-647

2,188

-1,465

-490

-3,391

-135

-3,385

769

-1,533

2,133

-3,697

5,675

7,245

584

1,281

-1,120

408

314

Other assets

10,994

2,809

-3,661

652

2,811

436

-3,976

380

2,535

277

-230

1,045

1,731

-149

-28

1,203

116

-1,439

-861

-411

-3,153

4,066

-760

377

-1,515

-981

-967

-1,955

749

-3,197

3,641

363

-2,664

2,549

7,034

-1,011

-3,366

-138

Accounts payable

-296

794

-31

-4,243

1,799

-2,064

2,139

3,261

-601

-4,322

-856

1,462

-3,335

4,824

295

1,712

1,215

-43

-252

172

-2,777

-374

1,574

2,169

1,022

-1,652

-2,830

-2,026

-2,595

-6,581

860

1,559

4,498

3,693

1,229

-2,591

2,297

-531

Accrued expenses and other current liabilities

12,029

-1,358

-1,850

3,926

1,146

1,763

-1,717

895

1,031

-727

-1,022

-201

1,530

-495

-3,676

1,295

-727

-1,686

-844

-1,967

-10,723

7,711

193

-630

-2,842

144

-4,565

-652

-3,098

-1,308

-1,257

-660

-3,983

12,539

-697

-2,435

-2,281

2,652

Total change in operating assets and liabilities

-1,260

5,725

-8,338

-3,029

1,259

-566

-3,264

-5,886

-3,072

4,040

-13

4,062

-2,276

2,716

4,650

7,185

6,409

-4,702

3,951

-100

11,175

-6,417

-2,304

3,953

-1,139

-5,558

5,754

1,120

7,717

6,645

6,542

7,754

6,398

-22,540

2,134

3,207

-6,258

3,398

Net cash used in operating activities

-1,549

-5,979

-3,442

-4,648

-4,192

-2,869

230

1,155

2,040

-1,955

3,893

25

7,124

659

-1,310

-4,517

-5,458

5,733

-1,811

3,621

-8,476

2,749

-2,599

-3,700

575

6,725

-9,382

-2,525

-5,679

-4,519

-10,976

-14,981

-9,892

20,847

-3,820

-1,460

-5,438

4,429

Cash flows from investing activities:
Proceeds from sale of business

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

150,000

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Cash proceeds from sale of investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-17

-290

0

0

0

0

-

-

-

-

-

-

-

-

Purchase of equipment

912

1,506

2,175

3,039

2,698

2,878

2,827

1,021

854

1,881

2,338

2,695

1,325

3,242

1,299

1,795

1,008

1,677

560

1,089

305

845

1,262

700

355

684

489

1,792

2,931

2,030

2,409

4,269

3,253

2,280

4,060

1,589

701

984

Deposits on equipment orders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

0

0

0

3

-1,536

-94

848

1,133

1,030

0

0

0

(Increase) decrease in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-142

-239

-1,075

676

-1,187

1,440

-262

114

371

-697

945

-489

-670

-419

1,116

-1,681

-410

289

1,049

Investments in internally-developed patents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-50

144

143

188

Dividend from an unconsolidated affiliate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,644

0

0

0

0

Proceeds from disposal of property, plant and equipment

12,957

1,947

470

0

0

0

5

0

69

8

135

339

0

0

-

-

-

-

0

0

0

50

100

0

0

0

87

1

193

203

0

0

0

0

-

-

-

-

Net cash provided by (used in) investing activities

12,045

441

-942

-25,285

-2,698

-2,878

-2,822

-1,021

-785

-1,873

-2,203

-2,356

-1,325

-3,242

-1,249

108

-1,008

-1,677

-2,016

14,471

1,434

150,280

-1,838

487

-1,778

-132

5,434

3,211

-2,041

-2,775

2,225

9,616

-3,682

-2,885

-3,359

-3,823

-5,883

-2,221

Cash flows from financing activities:
Net payments on credit facilities

4,459

1,038

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments from borrowings of credit facilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-26,518

5,582

3,337

400

-4,506

1,645

-718

852

611

-2,976

1,292

14,994

-11,551

3,198

649

1,954

1,183

Proceeds from sale of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,714

0

0

9,475

0

0

0

0

-

-

-

-

Financing cost related to issuance of credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

534

Proceeds from stock plans

-

-

-

-

-

-

-

-

426

16

-

18

675

104

346

17

411

186

540

528

479

355

1,099

5

645

14

687

12

996

10

585

19

623

29

981

54

790

30

Taxes paid related to net share settlement of equity awards

0

47

0

9

44

150

0

118

415

724

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Decrease (increase) in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-728

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

601

1

2

1

Net cash (used in) provided by financing activities

-3,768

-1,085

5,764

-9

194

-150

325

-115

11

-708

509

18

675

104

-38,868

17

1,139

-542

508

-45,090

479

-26,163

6,681

3,342

1,045

-4,492

14,046

-706

1,848

10,096

-2,391

1,311

15,617

-11,522

3,578

10,355

3,276

678

Effect of exchange rate changes provided by foreign currency

-24

32

-64

-34

38

-3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Effect of exchange rate changes on foreign currency

-

-

-

-

-

-

-

-

-

15

-

32

-419

352

32

97

-8

121

-32

162

-48

23

278

-139

189

-61

92

12

-89

34

-56

187

-70

101

370

-581

-664

217

Net increase (decrease) in cash, cash equivalents and restricted cash

6,704

-6,591

1,316

-29,976

-6,658

-5,900

-2,310

-24

1,296

-4,521

2,237

-2,281

6,055

-2,127

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,295

-5,335

3,635

-

-26,836

-6,611

126,889

2,522

-10

31

2,040

10,190

-8

-5,961

2,836

-11,198

-3,867

1,973

6,541

-3,231

4,491

-8,709

3,103

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for interest

36

47

30

40

31

25

16

16

15

16

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid during the period for interest

-

-

-

-

-

-

-

-

-

-

-

17

18

20

-

21

21

23

26

29

45

94

93

64

160

112

168

166

174

196

185

77

163

89

82

112

623

78

Cash paid during the period for income taxes

59

0

9

0

57

2

1

0

97

33

35

0

77

2

1

15

0

108

315

598

0

25

-4

0

4

0

0

0

0

15

0

0

0

1,644

0

0

0

0

NON-CASH INVESTING AND FINANCING ACTIVITIES
Changes in accounts payable related to purchases of equipment

-37

-725

158

-819

891

-410

-536

1,526

-59

-176

-312

-294

200

-455

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sale of Digital Products assets to NeoPhotonics for note receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

6,569

4,192

0

0

0

0

-

-

-

-

Changes in accounts payable related to purchases of equipment

-37

-725

158

-819

891

-410

-536

1,526

-59

-176

-312

-294

200

-455

714

-241

15

-206

514

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of equipment under capital lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

257

-

-

-

0

-

-

-

-