Perma-pipe international holdings, inc. (PPIH)
CashFlow / TTM
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)

3,576

3,047

3,060

-935

-550

-3,021

-6,181

-7,604

-9,976

-10,762

-11,371

-9,669

-12,474

-13,668

-3,653

-6,048

-4,409

-5,932

-12,418

-8,663

-181

2,978

10,741

13,773

21,027

7,341

405

-5,348

-18,485

-5,274

-5,043

-5,523

-4,959

0

0

0

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

4,437

4,442

4,533

4,546

4,575

4,741

4,866

4,999

5,031

5,035

5,200

5,288

5,521

5,762

5,856

5,954

5,929

6,023

5,901

5,887

5,897

5,619

5,671

5,688

5,785

5,898

6,028

5,972

5,806

5,665

5,507

5,513

5,582

0

0

0

Gain on disposal of subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

127

8,285

8,966

8,966

8,099

471

200

200

188

1,404

1,675

36

11,449

9,762

9,762

11,401

0

0

0

0

-

-

-

-

Deferred tax (benefit)/expense

-211

-423

63

146

211

-68

-496

-607

-958

-484

-16

53

-33

-821

-557

-626

-249

1,290

593

620

1,231

-2,863

-4,356

-5,245

-3,190

12,334

14,069

15,751

12,594

-2,784

-888

-433

-989

0

0

0

Stock-based compensation expense

1,011

952

1,014

1,065

1,165

1,651

1,637

1,498

1,447

1,474

1,385

1,307

1,446

908

886

483

278

318

308

613

124

44

-82

-275

196

213

292

517

484

517

584

479

621

0

0

0

Provision on uncollectible accounts

101

106

22

67

71

353

282

316

15

-167

-41

132

657

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Loss on consolidation of joint venture

-

-

-

-

-

-

-

-

-

-

-

-

1,620

1,620

1,620

1,620

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-602

-1,370

-1,865

-2,133

-1,960

-1,394

-1,206

-815

-528

0

0

0

-

-

-

-

-

-

-

-

Loss from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,495

-1,558

0

0

0

Cash surrender value on life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

135

-72

-138

-143

-206

-6

105

153

145

186

211

163

164

173

148

136

163

168

78

-18

-86

0

0

0

Loss on disposal of fixed assets

-318

-154

-117

-3

-46

-257

-231

-258

-219

0

0

0

-

0

0

0

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-473

-1,266

296

-1,415

-3,889

997

-1,268

1,244

4,675

-133

-765

-2,715

-1,851

-1,352

1,110

1,492

-225

955

34

0

0

0

-

-

-

-

Accounts payable

-2,609

2,409

1,136

-479

-3,576

718

1,193

2,562

4,551

1,724

2,259

1,394

-1,917

-10,655

-7,320

-1,509

5,819

11,088

8,687

-2,970

-4,612

-1,880

-6,391

-1,370

-4,438

-3,622

-206

1,937

2,908

-2,150

-1,859

-1,567

1,308

0

0

0

Accrued compensation and payroll taxes

-576

-441

342

297

1,226

1,321

-504

-672

-1,780

-1,813

-4,362

-7,275

-9,227

-14,434

-10,227

-8,019

299

5,940

6,623

7,325

-3,055

-1,612

-3,325

88

6,026

4,077

4,411

102

-844

-1,335

-859

727

-1,852

0

0

0

Inventories

2,225

1,889

1,863

444

-4,360

630

-1,028

565

3,274

-368

1,869

-335

-5,452

-14,423

-14,298

-7,403

-4,027

4,871

3,320

-4,243

-3,250

-7,998

-6,222

-4,776

-8,608

338

-2,507

-2,186

2,080

-162

496

4,553

4,683

0

0

0

Customers' deposits

-1,507

-1,027

741

-2,678

-1,517

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Customers' deposits

-

-

-

-

-

-

-

-

-

-

10

-437

-2,303

-2,954

-7,231

-3,177

-2,400

-1,770

3,179

-2,591

-28

-1,451

-2,774

388

-198

4,937

5,591

4,598

5,138

2,900

1,335

1,893

520

0

0

0

Income taxes receivable and payable

-668

61

-981

181

35

600

962

-26

-75

-1,420

-152

-802

-128

1,389

317

1,238

620

526

-1,100

-2,333

-687

-967

1,407

3,014

2,564

2,375

967

350

-384

-204

-954

-589

8

0

0

0

Prepaid expenses and other current assets

-1,749

-1,624

-419

-811

700

1,076

1,085

-798

471

451

277

1,538

997

184

497

-1,065

-1,914

-1,551

-2,027

-2,291

-1,000

-3,922

-210

614

619

3,237

-1,365

14

-563

398

1,551

-421

234

0

0

0

Accounts receivable

-1,749

-2,771

1,996

-2,511

354

4,230

3,809

5,403

1,076

-1,827

-2,776

-9,016

-13,698

-29,871

-15,820

-5,919

2,809

19,614

282

-8,540

-3,314

-11,142

-5,563

5,207

18,015

17,333

17,861

9,788

-204

-10,437

-7,234

-6,615

-8,075

0

0

0

Costs and estimated earnings in excess of billings on uncompleted contracts

-910

-2,255

-865

1,127

-547

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets and liabilities

143

1,133

-1,745

-133

-529

-1,718

753

545

-762

1,417

3,122

7,228

6,514

7,092

4,346

920

8,675

7,131

7,298

7,298

449

-4,370

-7,272

-5,910

816

7,512

9,425

9,182

740

-1,426

697

-128

2,292

0

0

0

Net cash provided by operating activities

4,090

8,402

7,491

6,355

4,978

1,725

-2,470

-833

-1,842

-3,472

-7,384

-10,247

-5,457

712

-3,871

1,723

-2,897

-11,356

6,335

3,972

3,498

21,672

15,985

19,147

6,400

-3,236

-1,716

-3,278

5,347

7,426

1,019

932

-190

0

0

0

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

-

-

-

-

-

-

-

-

-

-

-

-

4,672

4,672

4,672

4,672

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net proceeds from sale of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

Capital expenditures

1,902

1,899

1,771

1,493

1,361

1,335

1,577

2,641

2,532

2,795

2,789

1,728

2,257

2,030

2,454

5,219

6,457

7,641

8,521

7,136

5,878

5,152

4,176

3,097

2,761

1,861

1,932

3,239

5,360

8,174

10,218

11,348

10,086

0

0

0

Proceeds from surrender of corporate-owned life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

-3,185

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Receipts on loan from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,890

1,890

331

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Receipts on loan from joint venture

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

989

989

989

989

0

0

0

0

Proceeds from sales of property and equipment

-

-

-

0

-

-

-

-

1

-9,605

-7,573

4,357

4,356

0

0

0

-

-

-

-

24

16

19

19

16

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-1,902

-1,899

-1,771

-1,490

-1,361

-1,335

-1,577

-2,499

-2,389

-1,361

677

13,526

10,218

27,586

25,130

11,994

13,865

-5,626

-6,501

-6,675

-5,745

-5,217

-5,363

-4,029

12,427

13,401

14,510

12,979

-6,254

-9,067

-11,171

-12,319

-10,068

0

0

0

Financing activities
Proceeds from revolving lines

73,225

83,816

85,284

76,611

64,736

51,034

43,631

41,863

40,485

38,777

35,856

33,859

40,033

59,369

78,164

98,028

105,636

103,079

98,593

87,305

85,270

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

918

-66

1,282

1,210

661

-69,926

-53,683

-35,568

5,197

113,114

144,118

179,742

194,035

200,309

206,970

201,514

195,363

0

0

0

Proceeds from borrowing against life insurance policies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,916

1,916

1,916

1,916

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments of debt on revolving lines

72,973

89,220

87,053

80,810

62,759

46,451

41,735

37,162

37,354

35,551

32,705

36,799

49,303

82,008

89,667

102,163

105,378

85,274

100,321

86,899

83,150

100,108

82,969

92,245

109,501

0

0

0

-

-

-

-

-

-

-

-

Payments of other debt

358

360

353

348

350

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of other debt

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Payments of other debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

199,681

199,475

196,671

0

0

0

Increase (decrease) in drafts payable

-129

50

88

35

192

18

-278

-49

34

-143

210

-56

-323

-529

-1,074

-1,617

-467

-215

-117

1,127

629

-2,285

1,086

-4,102

-3,125

663

-2,866

-454

-8

-570

-73

2,327

-475

0

0

0

Payments on finance lease obligations

287

230

199

207

250

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments (borrowings) on capitalized lease obligations

-

-

-

-

-

-

-

-

-

-

0

0

-

1,768

1,768

1,897

998

790

848

729

704

723

589

595

603

612

631

638

591

482

406

377

293

0

0

0

Release of treasury stock

-

-

-

-

-

-

-

-

-

-

290

133

120

0

0

0

-290

-290

-290

-290

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock options exercised and taxes related to restricted shares vested

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Stock options exercised

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

73

35

81

160

193

210

0

0

0

Tax benefit of stock options exercised

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash (used in)/provided by financing activities

-301

-5,522

-2,797

-5,100

1,134

3,315

1,470

4,800

3,456

3,251

3,162

-7,269

-14,945

-29,199

-18,995

-11,176

-3,025

13,149

-4,937

454

-546

-11,148

-2,470

-13,625

-11,739

-5,763

-11,460

-4,704

3,798

1,969

6,980

4,177

-1,866

0

0

0

Effect of Exchange Rate on Cash and Cash Equivalents

-

-

-

-

-

-

-

-

-

-

0

0

-

-1,743

-1,434

-1,173

-1,212

-309

-469

-479

-702

-1,413

-341

363

-727

529

-300

-1,096

-66

-403

-458

-538

-385

0

0

0

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

-

-

-

-

-

-

-

-

-

-

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,731

-4,142

-5,572

-2,728

-3,495

3,894

7,811

1,856

6,361

4,931

1,034

3,901

2,825

-75

-3,630

-7,748

-12,509

0

0

0

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

34

260

-59

-183

-335

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash, cash equivalents and restricted cash

1,921

1,241

2,864

-418

4,416

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental cash flow information
Interest paid

902

990

1,118

1,282

1,298

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

678

661

773

518

642

766

749

959

1,122

1,191

1,288

1,429

1,491

1,694

1,958

2,290

2,399

2,408

2,314

0

0

0

-

-

-

-

Income taxes paid

2,107

2,574

1,796

2,025

1,731

1,412

1,353

1,118

1,080

886

763

1,714

1,381

1,402

1,266

452

970

1,334

1,468

3,696

2,988

2,516

2,464

263

409

463

395

268

200

0

0

0

-

-

-

-

Fixed assets acquired under finance leases - non-cash

-

-

-

-

-

-

-

-

841

0

0

0

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Funds held in escrow related to the sale of Filtration assets

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

Interest paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Income taxes paid, net of refunds

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0