PIONEER POWER SOLUTIONS, INC. PPSI Cash Flow

Pioneer power solutions, inc. (PPSI)

CashFlow / Quarterly

Mar'20	Dec'19	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
Operating activities
Net (loss) income
-2,921	-10,056	6,992	-4,022	5,647	-4,352	58	-796	-574	-9,824	-793	1,283	109	-2,148	322	194	569	-1,288	-3,551	-817	-225	-2,942	1,782	302	590	2,087	1,008	1,262	913	1,207	225	802	756	497	-1,745	225	963
Depreciation
58	58	136	208	205	324	282	306	310	329	326	323	307	335	390	329	287	289	345	358	350	324	293	341	325	344	302	291	288	341	323	290	297	262	238	168	166
Amortization of intangible assets
-	11	33	52	54	358	353	366	383	384	562	414	414	437	432	423	454	516	432	435	434	79	80	80	79	117	71	71	71	71	71	72	71	78	67	54	53
Amortization of right-of-use assets
219	329	66	72	213	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of right-of-use assets
-	-	-	-	-	-	-	-	136	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of right-of-use assets
-	-	-	-	-	-	-	-	-	139	140	139	117	82	78	46	29	36	28	40	24	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38	24	32	26	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt issuance cost
-	15	14	6	8	8	14	32	21	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income on notes receivable
111	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax expense
-	1,563	-502	-1,393	1,577	85	-101	-120	-193	2,016	36	75	74	-611	-163	357	12	-313	-1,778	-535	-495	1,481	-447	-336	-237	-1,327	102	-54	-195	-6	173	-161	-159	-699	456	-167	-114
Change in receivable reserves
29	253	2,895	19	-74	24	39	-257	-156	186	82	-73	44	102	61	-31	220	182	-16	-33	37	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in inventory reserves
-231	-	-	-	32	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in inventory reserves
-	-	-	-	-	-	-	165	17	-	-	-	13	349	-463	-237	265	132	30	-192	56	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventory write-off from flood damage
-	-	-	-	-	-	-	-	-	3,331	357	-1,226	180	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of subsidiaries
-	-	-	-	4,207	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in long term payables
92	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in insurance receivable
1,449	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss (gain) on investments
-1,143	-570	-1,895	-3,626	3,341	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accrued pension
-	-	-	-	-30	-49	-5	-9	8	16	3	-11	-16	15	-34	-6	-28	-157	8	6	16	223	-28	-46	-98	-432	-92	7	-72	58	-52	17	-14	7	29	-31	-5
Stock-based compensation
2	2	3	2	5	5	14	-2	148	147	148	141	30	28	28	-48	54	57	57	57	60	63	63	64	36	76	33	41	78	68	69	68	65	64	64	65	61
Other
-	-	-	-	-	-	-	-2	12	-	-7	-2	4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2	-	-	-	0	-	-	-	-	-	-	-	-	0	0	0	-49	-3,626	1,811	0	0
Foreign currency remeasurement loss
-10	-	-	-	-	43	-35	-14	-36	-13	22	19	-1	9	-9	-24	31	-301	246	-112	199	115	171	-148	117	-	-	-	-	-	-	-	-	-	-	-	-
Changes in current operating assets and liabilities:
Accounts receivable
-276	87	-3,649	822	885	918	-680	1,345	-210	-4,028	1,188	1,367	-1,121	-628	-437	3,519	1,106	-988	978	-874	3,261	-3,432	2,990	-1,111	2,875	-2,203	2,361	-2,051	1,433	-1,132	1,267	1,305	848	1,756	-1,223	1,878	-2,030
Inventories
-132	-454	625	736	238	-1,440	-959	3,220	1,297	297	-2,315	375	3,618	-211	708	4,972	2,775	2,526	789	1,436	115	-778	86	1,302	1,024	-551	-739	-732	110	-398	-141	490	1,049	6,115	-1,320	494	-1,514
Prepaid expenses and other assets
2	658	-692	164	120	199	-1,168	771	906	332	-556	788	-308	-225	3	-221	596	514	-264	-190	115	218	-65	34	64	149	-232	133	521	300	75	63	220	768	-412	-409	-35
Income taxes
-481	-617	1,011	421	12	-135	162	-121	1	-634	-356	628	-561	770	514	230	146	-1,407	679	160	283	-2,293	1,159	361	-545	1	309	197	-540	619	294	-33	257	-1	1,024	215	-118
Accounts payable and accrued liabilities
-820	288	-4,517	3,258	968	3,376	-913	2,960	2,900	807	-4,640	2,090	2,533	-1,119	2,274	-370	-2,252	2,321	1,257	23	2,655	-3,253	1,612	1,169	1,754	-3,931	1,644	-1,636	-79	677	-748	1,880	-1,224	554	1,036	-808	1,534
Customer deposits and deferred revenue
304	-	-	-	1,045	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued operations assets and liabilities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-151	137	-69	14	-213	-41	-105	18
Net cash (used in)/provided by operating activities
-1,036	-3,530	-3,450	536	871	1,586	2,182	-2,671	1,056	1,864	-2,443	1,219	1,060	-598	3,174	-7,284	-4,750	-892	-1,818	-758	-495	-1,001	1,356	1,890	-2,150	2	1,987	2,829	-1,600	4,114	-709	1,008	-2,005	1,756	-716	1,579	-1,021
Investing activities
Additions to property, plant and equipment
-	5	26	66	56	220	181	36	152	205	374	375	496	192	159	163	154	256	201	359	236	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of fixed assets
-	-	-	-	-	-	-	-	-	2	8	7	5	43	0	2	5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-89	-265	-240	-	-770	-570	-1,161	-	-123	-1,317	-104	-	-292	-305	-117
Business acquisitions, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	2,013	0	93	-	-	-	-	0	946	0	655	-	-	-	-	-	-	-	-
Note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97	75	-49	83	-	-	-	-	0	0	0	300	-	-	0	0
Net cash used in investing activities
0	-2,007	41,899	-66	-56	542	-181	-36	-152	-203	-366	-368	-491	-149	-159	-161	-149	-365	-2,260	-447	-329	-1,110	-164	-216	-323	-222	-1,716	-570	-1,816	-525	-123	-1,317	-404	-550	-8,519	-305	-117
Financing activities
Bank overdrafts
-205	238	-1,533	1,150	-1,294	-894	292	1,461	-160	-223	969	-566	-241	206	-2,338	852	564	763	181	-265	1,244	-	-	-890	1,619	0	-1,113	-45	1,157	-	-115	-5	1,069	-1,119	-853	1,441	0
Short term borrowings
-	-	-	-	1,785	-3,170	-8,767	8,552	-2,045	92	2,464	-935	-164	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowing under debt agreement
-	0	1,615	8,455	5,259	8,903	23,774	-3,425	11,347	8,562	7,313	13,214	11,392	5,981	3,604	14,181	12,628	9,627	12,252	8,126	6,360	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt
-	-	-	-	6,403	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in revolving credit facilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,671	807	-73	734	-1,268	-4,373	-1,226	2,555	-2,163	679	-403	795	1,526	-501	1,075	934
Increase in long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-1,074	0	-	-	-	-
Repayment of debt
-	-	-	-	-	-	-	3,904	9,881	10,528	6,959	12,068	11,438	4,877	6,768	8,994	8,802	9,463	12,193	6,536	10,069	2,368	423	677	413	-	750	397	541	-	-	-	-	-	-	-	-
Payment of debt issuance cost
-	-	-	-	-	-6	-4	34	-6	-96	79	26	52	25	113	110	3	15	6	40	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal repayments of financing leases
214	-	-	-	128	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of financing obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56	0	152	-	-	-	-	-	-	-	-	1,764	-299	112	870	413	3,033	171	169
Net proceeds from the exercise of options for common stock
-	-	-	-	-	-	-	-	-	0	61	0	59	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal repayments of financing leases
-	-	-	-	-	-	-	124	124	-8	111	116	82	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-419	231	-25,689	9	-781	-3,579	-1,502	2,526	-857	-1,993	3,658	-497	-526	339	-5,615	10,848	4,387	1,727	4,124	1,285	-2,617	5,783	-350	-1,650	1,940	-2,368	2,088	-1,668	3,171	-3,454	863	554	994	303	-4,927	12,614	765
(Decrease) increase in cash and cash equivalents
-1,455	-	-	-	34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Effect of foreign exchange on cash and cash equivalents
-	-	-	-	-70	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and cash equivalents
Increase in cash and cash equivalents
-	-	-	-	-	-	-	-	47	-332	849	354	43	-408	-2,600	3,403	-512	470	46	80	-3,441	3,672	842	24	-533	-2,588	2,359	590	-244	135	31	245	-1,415	1,509	-14,162	13,888	-373
Effect of foreign exchange on cash and cash equivalents
-	-	-	-	-	-	-155	228	3	-400	-241	-247	-54	-183	-15	-110	23	178	-46	-80	-391	-522	-218	34	108	-277	109	36	-27	249	-98	-95	17	-735	689	69	-3
Supplemental cash flow information:
Interest paid
-	-	-	-	2,603	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes paid, net of refunds
477	-	-	-	587	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash investing and financing activities:
Forgiveness of indebtedness due to purchaser
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	609	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-