Osi systems, inc. (OSIS)
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'10Sep'10
CASH FLOWS FROM OPERATING ACTIVITIES
Net income

19,558

20,986

20,743

16,661

19,626

19,107

9,402

5,114

2,553

-46,951

10,157

1,547

14,019

4,833

677

5,901

9,343

108

10,805

22,433

13,228

18,241

11,249

22,126

4,801

14,573

6,394

11,846

13,529

12,421

6,339

15,911

12,575

12,301

4,761

12,046

8,766

9,218

3,392

Adjustments to reconcile net income to net cash provided by operating activities, net of effects from acquisitions:
Depreciation and amortization

10,846

13,422

13,539

13,833

14,118

14,136

14,147

14,386

13,712

21,281

20,375

19,193

16,867

16,749

15,426

15,378

14,494

13,987

14,063

13,528

13,366

14,341

17,741

14,215

13,607

13,544

12,873

9,635

7,063

5,902

4,907

5,300

5,158

4,909

4,832

4,710

4,613

4,738

4,468

Stock-based compensation expense

5,837

5,844

6,416

5,737

5,888

8,163

5,463

6,092

6,014

6,253

5,487

5,870

6,203

8,229

5,830

7,177

4,828

4,289

4,465

4,366

6,057

6,083

5,995

3,008

3,254

5,083

5,638

4,964

4,335

3,614

3,533

3,185

1,883

1,951

1,511

1,505

1,532

1,454

1,298

Provision for losses on accounts receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,071

-2,063

-151

-294

-365

175

78

-305

-1,083

-1,186

153

272

Equity in earnings of unconsolidated affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13

-

36

75

44

161

144

36

211

Deferred income taxes

3

-50

-3

-5,316

88

78

-3,386

-24,662

79

45,350

5,346

-24,323

8

-5

98

-

-

-

-

-

-

-

-

-

-

-

-

3,408

-16

72

140

-1,417

128

8

-176

3,736

256

543

272

Amortization of debt discount and issuance costs

2,338

2,338

2,308

2,293

2,264

2,249

2,220

2,206

2,164

2,164

2,098

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment charges

-

-

-

-

-

-

-

-

-

-

-

21,629

0

0

5,418

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-1,901

-938

61

1,325

-602

-966

-49

457

-1,240

-395

-490

1,568

-87

25

-160

1,137

-181

-1,685

295

1,556

-4,587

-793

-69

75

-157

154

-193

-61

-56

-181

-1

271

-19

-15

-13

-21

-44

-81

-45

Changes in operating assets and liabilities-net of business acquisitions:
Accounts receivable

4,490

12,515

6,940

21,239

-8,019

5,285

8,701

-4,209

4,923

4,178

-16,232

23,785

8,127

1,138

11,412

-15,439

-2,076

-5,899

-13,467

12,459

-19,361

29,703

-30,159

42,165

-21,564

-40,476

-6,305

38,387

32,844

-6,473

-11,190

-3,503

10,899

15,602

-5,553

1,380

8,318

27,643

-34,275

Other receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

179

-91

Inventories

-11,164

-15,763

-4,167

-23,215

-18,497

-26,425

28,690

10,518

27,003

11,602

10,098

-4,398

-12,194

-3,315

-10,901

-16,278

9,102

21,297

23,575

-29,663

250

-217

29,381

-7,614

19,872

-7,324

16,092

8,149

-2,240

9,271

-2,286

-8,943

-4,644

21,533

16,579

8,551

4,446

7,648

19,055

Prepaid expenses and other assets

-554

4,374

13,272

-445

757

-4,050

9,913

-21,285

15,848

-1,947

8,220

-11,626

-6,011

8,601

3,427

-

-

-

-

-

-

-

-

-

-

-

-

-5,728

-3,446

-9,055

-2,318

1,073

14,483

-4,846

-5,691

5,176

1,292

887

-78

Accounts payable

-2,496

5,145

7,594

3,642

-11,099

-18,343

9,177

5,623

26,169

-13,233

6,586

-4,076

7,699

7,825

-8,791

-14,982

6,285

-8,405

23,933

-29,329

-4,989

16,268

2,933

537

6,118

-29,647

-3,151

15,193

-12,593

9,821

28,055

-9,949

-25,391

17,252

5,163

-9,677

976

24,084

-982

Accrued payroll and related expenses

-274

6,294

-11,675

7,363

-248

5,825

-9,585

-

-

-

-

-

-

6,967

-5,251

-

-

-

-3,448

-

-

-

-4,008

-

-

-

-2,308

-

5,909

-218

-4,656

4,145

3,693

1,060

-6,805

3,812

3,101

1,140

-8,302

Advances from customers

734

-17,253

6,673

-16,747

-9,418

-4,733

18,409

-14,969

5,747

29,889

-3,484

-6,135

-7,362

-9,586

-10,469

-10,754

-4,085

9,073

-5,189

-13,180

-406

-7,610

-855

-

-

-

-

-1,354

4,518

-4,946

-8,954

172

94,678

-1,246

5,421

4,542

-4,437

1,467

-3,049

Accrued warranties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

810

1,897

831

-1,467

-609

-1,013

-37

-212

-1,834

-740

-265

Deferred revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,799

-5,701

-5,390

-2,331

-2,240

-4,175

-3,382

-2,733

15,821

30,687

-3,145

-92

-1,904

-1,490

-2,077

8,299

697

1,716

-2,433

6,615

2,072

-95

-526

Other

251

-1,749

-4,651

65

-680

-8,973

-1,413

51

18,823

15,123

-9,862

-15,004

5,073

-8,440

-1,018

-33,041

5,082

-5,960

-4,024

9,020

-6,779

6,848

933

-2,621

242

-1,068

460

-8,559

-561

-9,442

-155

-7,541

598

-4,047

2,744

-2,706

-659

3,054

-2,191

Net cash provided by operating activities

45,926

34,789

24,838

31,368

46,900

43,665

-2,821

17,345

31,063

49,594

35,107

10,608

33,906

20,123

-1,858

18,982

20,678

-5,254

24,812

17,407

26,746

29,497

31,453

5,344

48,853

68,726

6,247

1,418

-5,569

20,439

42,377

34,381

73,698

2,490

9,994

15,493

5,172

9,878

9,596

Acquisition of property and equipment

4,469

5,567

6,026

6,507

8,265

4,765

7,875

6,766

4,423

8,290

23,719

5,117

7,650

1,523

2,806

8,723

4,025

2,437

2,503

5,173

3,666

3,311

3,136

6,465

6,431

33,731

7,971

17,938

21,813

54,898

62,718

24,291

35,116

5,935

3,148

5,886

2,916

2,578

2,012

Acquisition of businesses, net of cash acquired

-

-

-

0

12

0

18,259

-408

16,935

0

83,632

-2,696

2,224

2,153

186,861

356

17,456

1,327

782

-768

0

3,818

10,869

100

1,553

785

9,302

0

300

3,890

1,897

4,800

0

0

3,189

753

310

3,200

2,048

Acquisition of intangible and other assets

4,911

1,765

2,088

1,146

1,046

-3,565

4,176

203

1,182

-111

1,179

1,113

1,299

854

1,881

1,614

1,574

1,724

958

893

1,959

2,313

1,063

1,683

1,746

711

1,756

626

1,734

623

1,416

1,618

1,291

925

869

1,409

1,133

1,093

671

Net cash used in investing activities

-12,730

-7,503

-8,114

-7,653

-9,323

-1,200

-30,310

-6,561

-22,540

-8,179

-108,530

-3,534

1,620

-4,530

-191,548

-10,693

-23,055

-5,488

-4,243

-5,298

-5,625

-9,442

-15,068

-8,248

-9,730

-35,227

-19,029

-18,564

-23,847

-59,411

-66,031

-30,709

-36,407

-6,860

-7,206

-8,048

-4,359

-6,871

-4,731

Net borrowings on bank lines of credit

4,000

-4,000

7,000

-36,006

-25,000

-17,000

53,000

-115,000

33,000

-19,000

111,000

10,000

-256,000

10,000

214,000

0

70,000

10,000

45,000

-6,000

-17,000

-7,000

6,000

2,000

-38,000

-19,000

20,000

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term debt

151

243

198

390

202

349

468

418

331

177

118

280

280,021

7

233

108

368

181

34

155

753

137

516

277

379

72

2,769

0

0

0

11,100

-

-

-

-

-

-

-

-

Payments on long-term debt

243

227

253

1,242

647

584

649

659

684

579

670

1,361

1,276

733

707

708

786

733

690

762

1,015

655

815

715

1,390

757

805

450

449

320

55

54

55

53

55

-

-

-

-

Payments of capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

541

-6,614

6,783

Proceeds from exercise of stock options and employee stock purchase plan

2,301

1,200

4,897

2,987

3,356

520

2,289

288

2,780

110

3,718

-2,296

3,496

4,358

2,099

5

1,738

1,327

3,067

361

1,296

1,732

209

0

0

0

1,501

59

1,641

23

2,951

87

2,602

1,085

1,109

9,728

2,380

2,731

4,801

Payments of contingent consideration

4,045

1,076

144

985

3,469

1,111

217

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock

24,781

13,732

13,262

0

0

13,185

7,844

-

-

-

-

0

41,086

4,655

2,712

0

50,739

1,158

21,471

7,353

774

4,244

18,373

0

0

10,542

1,514

1,567

516

9,093

835

-

-

-

-

-

-

-

-

Taxes paid related to net share settlement of equity awards

51

795

25,915

195

786

330

12,625

290

820

952

18,802

162

907

8,725

290

528

138

0

13,049

144

203

295

6,552

142

197

749

7,481

130

7,904

-6,199

8,596

-

-

-

-

-

-

-

-

Net cash used in financing activities

-22,668

-18,387

-27,479

-35,051

-26,344

-31,341

34,422

-119,508

-26,890

-21,048

95,364

3,765

-15,752

252

212,623

-1,123

20,443

9,617

12,891

-13,743

-16,943

-10,325

-19,015

1,420

-39,208

-30,976

14,470

1,912

32,772

11,809

4,565

-2,699

653

-738

1,054

7,454

1,783

-23,145

-1,982

Effect of exchange rate changes on cash

-4,558

1,015

-419

3

449

-1,568

306

-463

395

-422

437

339

450

-563

-621

-221

-430

-16

-123

186

83

-2,224

1,073

467

34

190

801

2,251

-2,526

306

1,344

-308

-25

-387

-1,098

1,090

1,711

-108

697

Net change in cash and cash equivalents

5,970

9,914

-11,174

-11,333

11,682

9,556

1,597

-109,187

-17,972

19,945

22,378

11,178

20,224

15,282

18,596

6,945

17,636

-1,141

33,337

-1,448

4,261

7,506

-1,557

-1,017

-51

2,713

2,489

-12,983

830

-26,857

-17,745

665

37,919

-5,495

2,744

15,989

4,307

-20,246

3,580

Supplemental disclosure of cash flow information:
Interest

2,531

1,256

2,986

2,468

3,076

2,616

3,702

2,741

2,725

931

2,852

899

1,368

1,962

956

815

668

590

305

1,248

207

651

696

813

968

1,704

1,174

1,224

398

1,729

129

984

625

609

950

564

266

324

472

Income taxes

6,473

5,570

4,098

6,561

7,522

6,713

13,998

7,717

9,799

7,757

4,172

8,958

3,443

6,643

6,022

6,596

7,807

7,047

5,221

8,020

16,687

4,824

1,735

3,552

6,284

4,715

4,001

2,610

4,064

4,165

1,450

1,690

4,335

1,604

-479

571

1,966

1,294

2,413