Perma-pipe international holdings, inc. (PPIH)
CashFlow / Quarterly
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11
Operating activities
Net income/(loss)

1,503

-145

3,720

-1,502

974

-132

-275

-1,117

-1,497

-3,292

-1,698

-3,489

-2,283

-3,901

4

-6,294

-3,477

6,114

-2,391

-4,655

-5,000

-372

1,364

3,827

-1,841

7,391

4,396

11,081

-15,527

455

-1,357

-2,056

-2,316

686

-1,837

-1,492

Adjustments to reconcile net income/(loss) to net cash flows provided by operating activities
Depreciation and amortization

1,088

1,047

1,148

1,154

1,093

1,138

1,161

1,183

1,259

1,263

1,294

1,215

1,263

1,428

1,382

1,448

1,504

1,522

1,480

1,423

1,598

1,400

1,466

1,433

1,320

1,452

1,483

1,530

1,433

1,582

1,427

1,364

1,292

1,424

1,433

1,433

Gain on disposal of subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

-59

-681

0

867

8,099

0

0

0

471

-271

0

-12

1,687

0

-1,639

11,401

0

0

0

0

-

-

-

-

Deferred tax (benefit)/expense

77

-342

58

-4

-135

144

141

61

-414

-284

30

-290

60

184

99

-376

-728

448

30

1

811

-249

57

612

-3,283

-1,742

-832

2,667

12,241

-7

850

-490

-3,137

1,889

1,305

-1,046

Stock-based compensation expense

225

226

406

154

166

288

457

254

652

274

318

203

679

185

240

342

141

163

-163

137

181

153

142

-352

101

27

-51

119

118

106

174

86

151

173

69

228

Provision on uncollectible accounts

52

129

-48

-32

57

45

-3

-28

339

-26

31

-329

157

100

204

196

-

284

77

115

-

-609

81

-64

-

-99

-30

15

-

132

6

-9

-

-

-

-

Loss on consolidation of joint venture

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,620

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-78

-408

49

-165

-846

-903

-219

8

-280

-715

172

295

-

-

-

-

-

-

-

-

Loss from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

246

-974

-683

-84

183

Cash surrender value on life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

-1

4

3

129

-208

-62

-2

66

-8

49

46

58

33

74

-2

59

42

49

-14

86

47

-41

-110

18

Loss on disposal of fixed assets

-164

-69

-88

3

0

-32

26

-40

-211

-6

-1

-1

-

-2,072

2,364

0

-

-

-

-

-

-7

7

-4

-

-545

79

161

-

17

-73

-1

-

-29

10

-99

Changes in operating assets and liabilities
Change in contract assets and contract liabilities

-

-

-

-

-

-

-

-

-

-

-87

-978

1,032

-440

-880

584

-679

-2,914

4,006

-1,681

1,833

517

-802

-2,313

-117

1,381

-303

149

265

-336

877

-772

-

-

-

-

Accounts payable

-3,134

-116

469

172

1,884

-1,389

-1,146

-2,925

6,178

-914

223

-936

3,351

-379

-642

-4,247

-5,387

2,956

5,169

3,081

-118

555

-6,488

1,439

2,614

-3,956

-1,467

-1,629

3,430

-540

676

-658

-1,628

-249

968

2,217

Accrued compensation and payroll taxes

-377

428

-222

-405

-242

1,211

-267

524

-147

-614

-435

-584

-180

-3,163

-3,348

-2,536

-5,387

1,044

-1,140

5,782

254

1,727

-438

-4,598

1,697

14

2,975

1,340

-252

348

-1,334

394

-743

824

252

-2,185

Inventories

-1,755

-258

368

3,870

-2,091

-284

-1,051

-934

2,899

-1,942

542

1,775

-743

295

-1,662

-3,342

-9,714

420

5,233

34

-816

-1,131

-2,330

1,027

-5,564

645

-884

-2,805

3,382

-2,200

-563

1,461

1,140

-1,542

3,494

1,591

Customers' deposits

-803

-592

75

-187

-323

1,176

-3,344

974

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Customers' deposits

-

-

-

-

-

-

-

-

-

-

680

-191

-423

-56

233

-2,057

-1,074

-4,333

4,287

-1,280

-444

616

-1,483

1,283

-1,867

-707

1,679

697

3,268

-53

686

1,237

1,030

-1,618

1,244

-136

Income taxes receivable and payable

-748

1,501

-861

-560

-19

459

301

-706

546

821

-687

-755

-799

2,089

-1,337

-81

718

1,017

-416

-699

624

-609

-1,649

947

344

1,765

-42

497

155

357

-659

-237

335

-393

-294

360

Prepaid expenses and other current assets

-226

-1,531

1,666

-1,658

-101

-326

1,274

-147

275

-317

-609

1,122

255

-491

652

581

-558

-178

-910

-268

-195

-654

-1,174

1,023

-3,117

3,058

-350

1,028

-499

-1,544

1,029

451

462

-391

-943

1,106

Accounts receivable

1,211

-1,980

5,104

-6,084

189

2,787

597

-3,219

4,065

2,366

2,191

-7,546

1,162

1,417

-4,049

-12,228

-15,011

15,468

5,852

-3,500

1,794

-3,864

-2,970

1,726

-6,034

1,715

7,800

14,534

-6,716

2,243

-273

4,542

-16,949

5,446

346

3,082

Costs and estimated earnings in excess of billings on uncompleted contracts

2,019

-679

-2,196

-54

674

711

-204

-1,728

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets and liabilities

-458

1,554

-2,184

1,231

532

-1,324

-572

835

-657

1,147

-780

-472

1,522

2,852

3,326

-1,186

2,100

106

-100

6,569

556

273

-100

-280

-4,263

-2,629

1,262

6,446

2,433

-716

1,019

-1,996

267

1,407

194

424

Net cash provided by operating activities

1,292

3,741

-2,317

1,374

5,604

2,830

-3,453

-3

2,351

-1,365

-1,816

-1,012

721

-5,277

-4,679

3,778

6,890

-9,860

915

-842

-1,569

7,831

-1,448

-1,316

16,605

2,144

1,714

-14,063

6,969

3,664

152

-5,438

9,048

-2,743

65

-6,560

Investing activities
Acquisition of interest in subsidiary, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

4,672

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from sale of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,125

255

16,123

-

0

0

0

-

-

-

-

Capital expenditures

479

442

473

508

476

314

195

376

450

556

1,259

267

713

550

198

796

486

974

2,963

2,034

1,670

1,854

1,578

776

944

878

499

440

44

949

1,806

2,561

2,858

2,993

2,936

1,299

Proceeds from surrender of corporate-owned life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

-1,291

0

0

-1,894

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receipts on loan from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,559

331

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Receipts on loan from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

989

0

0

0

0

Proceeds from sales of property and equipment

-

-

-

3

-

-

-

-

0

0

0

1

-9,606

2,032

11,930

0

-

-

-

-

16

5

0

3

8

8

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-479

-442

-476

-505

-476

-314

-195

-376

-450

-556

-1,117

-266

578

1,482

11,732

-3,574

17,946

-974

-1,404

-1,703

-1,545

-1,849

-1,578

-773

-1,017

-1,995

-244

15,683

-43

-886

-1,775

-3,550

-2,856

-2,990

-2,923

-1,299

Financing activities
Proceeds from revolving lines

11,944

20,651

18,765

21,865

22,535

22,119

10,092

9,990

8,833

14,716

8,324

8,612

7,125

11,795

6,327

14,786

26,461

30,590

26,191

22,394

23,904

26,104

14,903

20,359

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

135

115

71

597

-849

1,463

-1

48

-71,436

17,706

18,114

40,813

36,481

48,710

53,738

55,106

42,755

55,371

48,282

48,955

Proceeds from borrowing against life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1,916

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments of debt on revolving lines

11,360

19,701

17,290

24,622

27,607

17,534

11,047

6,571

11,299

12,818

6,474

6,763

9,496

9,972

10,568

19,267

42,201

17,631

23,064

22,482

22,097

32,678

9,642

18,733

39,055

15,539

18,918

35,989

-

-

-

-

-

-

-

-

Payments of other debt

82

97

91

88

84

90

86

90

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of other debt

-

-

-

-

-

-

-

-

-

-

50

70

-

33

9,963

81

-

590

570

539

-

580

713

766

-

-10,570

865

2,888

-

-

-

-

-

-

-

-

Payments of other debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

50,667

45,123

50,208

53,683

50,461

42,319

Increase (decrease) in drafts payable

33

-31

59

-190

212

7

6

-33

38

-289

235

50

-139

64

-31

-217

-345

-481

-574

933

-93

-383

670

435

-3,007

2,988

-4,518

1,412

781

-541

-2,106

1,858

219

-44

294

-944

Payments on finance lease obligations

102

82

53

50

45

51

61

93

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments (borrowings) on capitalized lease obligations

-

-

-

-

-

-

-

-

-

-

-639

72

-

225

135

1,069

339

225

264

170

131

283

145

145

150

149

151

153

159

168

158

106

50

92

129

22

Release of treasury stock

-

-

-

-

-

-

-

-

-

-

157

13

120

0

0

0

0

0

0

-290

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock options exercised and taxes related to restricted shares vested

-

-

-

-

-

-

-

-

-

-

-370

114

-

54

253

56

-

10

-25

0

-

59

168

161

-

-

-

-

-

-

-

-

-

-

-

-

Stock options exercised

-

-

-

79

-

-

-

25

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

50

0

4

19

12

46

83

52

29

Tax benefit of stock options exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5

Net cash (used in)/provided by financing activities

478

793

1,434

-3,006

-4,743

3,518

-869

3,228

-2,562

1,673

2,461

1,884

-2,767

1,584

-7,970

-5,792

-17,021

11,788

-151

2,359

-847

-6,298

5,240

1,359

-11,449

2,380

-5,915

3,245

-5,473

-3,317

841

11,747

-7,302

1,694

-1,962

5,704

Effect of Exchange Rate on Cash and Cash Equivalents

-

-

-

-

-

-

-

-

-

-

-288

892

-

-389

-331

435

-1,458

-80

-70

396

-555

-240

-80

173

-1,266

832

624

-917

-10

3

-172

113

-347

-52

-252

266

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

-

-

-

-

-

-

-

-

-

-

-760

1,498

-

-2,600

-1,248

-5,153

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,357

874

-710

210

-4,516

-556

2,134

-557

2,873

3,361

-3,821

3,948

1,443

-536

-954

2,872

-1,457

-4,091

-5,072

-1,889

Effect of exchange rate changes on cash, cash equivalents and restricted cash

8

48

16

-38

234

-271

-108

-190

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash, cash equivalents and restricted cash

1,299

4,140

-1,343

-2,175

619

5,763

-4,625

2,659

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental cash flow information
Interest paid

293

201

182

226

381

329

346

242

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

185

177

168

148

168

289

-87

272

292

272

123

435

361

369

264

497

564

633

596

606

573

539

-

-

-

-

Income taxes paid

146

1,099

0

862

613

321

229

568

294

262

-6

530

100

139

945

197

121

3

131

715

485

137

2,359

7

13

85

158

153

67

17

31

85

-

-

-

-

Fixed assets acquired under finance leases - non-cash

-

-

-

-

-

-

-

-

0

144

697

0

-

-

-

-

-

483

0

732

-

614

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Funds held in escrow related to the sale of Filtration assets

-

-

-

-

-

-

-

-

-

0

-252

502

-

0

0

502

-

0

0

0

-

-130

-934

1,125

-

0

0

1,125

-

0

0

0

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

496

Income taxes paid, net of refunds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

93