Quidel corp /de/ (QDEL)
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'11
OPERATING ACTIVITIES:
Net income

40,237

30,626

16,181

1,270

24,844

32,479

10,822

-3,076

33,958

-5,088

-5,525

-11,842

14,290

9,336

-11,858

-7,840

-3,446

-377

-762

-8,931

3,991

7,113

-5,767

-6,908

-1,512

1,139

-4,361

-1,755

12,367

8,740

-676

-3,122

51

958

-1,113

-3,660

11,448

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other

12,480

15,051

12,282

12,487

11,971

-

-

-

12,075

12,949

6,236

5,887

5,690

-7,211

17,597

6,287

6,123

5,849

5,717

5,618

6,202

7,787

6,885

6,361

7,332

6,439

6,334

5,067

7,056

6,776

5,623

5,282

5,580

5,746

5,298

3,378

3,387

Stock-based compensation expense

3,878

3,168

3,124

3,372

3,588

2,519

2,775

3,479

2,936

3,123

1,879

2,138

1,921

-1,920

5,820

2,106

1,980

1,706

1,719

1,926

2,068

1,952

1,293

1,242

2,237

3,324

1,419

1,887

2,141

1,597

1,406

1,732

1,863

1,702

1,670

2,069

2,059

Amortization of debt discount and deferred issuance costs

217

215

216

549

602

597

641

1,043

1,671

1,893

1,388

1,376

1,365

-1,229

4,266

1,425

1,429

1,432

1,422

1,411

1,399

385

81

79

84

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of interest on deferred consideration

1,895

-

1,848

2,161

2,343

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in fair value of acquisition contingencies

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-589

-

-

-

-

-

-

-952

0

0

42

-

-

-

-

-

-

-

-

-

-

-

-

Accretion of interest on deferred consideration

-

-

-

-

-

-

-

-

2,793

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of inventory step-up to fair value

-

-

-

-

-

0

0

0

3,650

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in deferred tax assets and liabilities

78

-

-

-

0

-

-

-

-

-

-

-

-

11,990

-7,375

-4,589

-2,629

2,341

-3,937

-3,716

1,285

6,497

-5,682

-3,559

0

-5,378

87

2,426

937

3,861

-713

-1,680

1

-1,310

-1,006

-2,352

5,885

Loss on extinguishment of debt

-

-

-

-

-

0

-1,297

-2,398

-4,567

0

0

0

0

-421

421

0

421

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,409

0

0

937

-

-

-

-

-

-

-

-

Changes in assets and liabilities:
Accounts receivable

7,737

16,715

33,341

-24,679

10,682

-7,979

22,085

-47,547

25,205

25,470

21,738

-1,108

-4,048

1,295

7,464

-10,213

7,719

-12,619

15,325

-2,984

-15,782

10,011

7,224

564

-13,252

10,289

6,013

-751

-18,462

15,438

4,351

-1,666

-199

-2,659

6,435

-5,340

2,733

Inventories

602

-3,748

-2,691

-2,022

-682

4,129

3,555

1,761

-5,471

2,389

465

360

-3,576

6,503

-3,544

-1,682

-2,136

1,823

886

-286

-786

1,253

-1

-1,459

-2,655

275

2,572

3,902

5,226

-1,065

-319

907

1,552

-545

-385

402

-2,873

Income taxes receivable

-

-

-

-

-

-

-

-

-

-

257

2,929

-2,063

-

248

56

-119

-

-632

770

-372

-

-1,307

210

944

-

-

-

-

-

-

-

-31

-

-420

-7,840

-7

Prepaid expenses and other current and non-current assets

-321

628

-2,803

1,856

-3,995

-7,647

7,512

10,974

1,842

8,446

-1,241

368

1,540

-1,473

1,047

-271

1,186

734

-60

-92

457

-1,396

133

-526

1,002

658

1,221

-1,995

504

-2,715

1,816

-967

1,731

-8,431

763

-218

49

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-63

0

-63

-1,747

-3,051

1,396

338

-2,920

6,047

-546

-423

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

6,639

-1,995

5,237

-2,610

1,802

-964

5,703

-4,475

-595

10,828

6,192

253

-4,317

5,281

984

-3,092

1,150

-1,135

1,780

-531

-3,196

5,160

585

-769

-596

191

1,117

648

-2,607

2,422

-310

-1,799

1,232

415

952

-1,262

21

Accrued payroll and related expenses

-2,860

4,743

-1,743

2,932

-6,969

1,698

1,481

4,483

-5,988

6,148

345

2,130

-1,493

3,018

-1,867

1,764

-3,290

289

1,403

239

-870

841

1,219

-254

-559

419

1,621

-668

-317

1,243

-8

180

-332

-838

963

-247

1,439

Accrued royalties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-162

-3

17

-140

-1,323

-2,736

2,201

Income taxes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12

165

-167

-

940

-209

-2

-1,155

-63

191

-9

-

-

-

-

-

-

-

-

1,730

108

-100

-8

Deferred grant revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,658

-951

-1,746

-1,859

-777

1,176

-1,212

-1,583

7,190

-653

-653

-

-

-

-

-

-

-

-

-

-

-

-

Other current and non-current liabilities

6,634

8,203

2,888

-5,846

721

1,223

4,110

-2,913

2,323

2,891

2,755

-2,714

3,972

-816

-2,541

-2,244

7

-2,376

1,953

-6,683

5,956

-736

2,983

-2,352

1,407

1,914

515

-5,509

3,073

1,366

1,662

-850

-1,656

-382

958

21

-458

Net cash provided by operating activities:

61,180

47,724

13,330

40,534

32,897

43,217

30,285

27,029

35,814

11,225

-7,523

-5,568

29,575

19,077

-4,806

5,141

-7,597

16,628

-3,010

-8,504

31,766

18,208

186

-4,865

22,157

1,464

-5,098

-5,129

34,445

13,748

702

1,480

3,703

13,248

112

8,109

26,072

INVESTING ACTIVITIES:
Acquisitions of property, equipment and intangibles

5,884

8,513

6,932

6,791

4,993

8,814

9,298

8,628

4,949

4,743

4,697

4,358

3,712

-1,375

7,860

3,423

2,001

5,029

4,655

4,481

2,867

2,749

1,873

2,652

3,967

3,879

5,194

8,928

2,820

5,318

2,918

2,927

1,058

1,599

997

1,231

1,026

Acquisition of other businesses, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,094

5,061

0

5,094

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of Summers Ridge Property

-

-

-

-

-

0

0

0

146,644

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of intangibles

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

92

317

221

220

922

142

194

237

14,928

2,018

13,563

286

415

Proceeds from sale of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

0

0

115

-

-

-

-

Net cash provided by (used for) investing activities:

-5,884

-8,513

-6,932

-6,791

-4,993

-8,814

-9,298

-8,628

141,695

-404,604

-4,430

-19,013

-3,712

6,469

-12,921

-3,423

-7,095

-5,029

-4,655

-4,481

-2,867

-2,657

-1,873

-2,652

-4,059

-4,175

-7,720

-18,298

-3,742

-5,453

-4,112

-3,164

-15,871

-3,617

-14,560

-1,517

-1,441

FINANCING ACTIVITIES:
Proceeds from issuance of common stock

2,805

1,626

4,923

1,386

6,847

1,016

6,482

3,897

5,652

10,180

9,981

2,200

3,065

1,656

4,821

544

1,554

759

1,332

224

596

278

2,127

537

1,839

1,660

1,346

1,391

3,531

1,704

2,516

90

354

22

406

257

58,558

Payments of debt issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

365

4,712

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,409

0

0

937

-

-

-

-

-

-

-

-

Payments on finance lease obligation

-

-

-

-

-

-

-

-

-

28

26

23

21

-178

433

144

141

134

129

125

121

115

113

108

105

100

96

93

91

87

82

82

78

73

71

69

67

Payments on Revolving Credit Facility

112

52,926

105

119

38

39,907

33

-9,940

10,000

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on finance lease obligation

0

-

10,000

15,000

20,000

-

0

9,971

29

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases of common stock

1,954

8,828

29

395

1,476

554

183

375

3,232

0

53

51

437

-20,007

20,096

0

20,079

3,317

15,484

11,796

337

0

5

0

1,951

1,166

133

297

561

0

20

0

3,387

1

0

339

286

Repurchases of Convertible Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,459

4,459

0

4,459

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on line of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5,000

14,000

0

0

23,000

0

0

0

30,000

Payment of note payable to state agency

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,498

-

-

-

-

Payments on acquisition contingent consideration

-

-

-

-

-

-

-

-

-

-

12

0

486

-195

207

0

195

0

0

0

129

0

1,003

0

1,109

-

-

-

-

-

-

-

-

-

-

-

-

Payments of acquisition contingent consideration

34

0

13

4,019

12

9

3,277

2,000

1,017

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments of Term Loan

-

-

-

-

-

0

0

60,000

101,813

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transaction costs related to debt exchange

-

-

-

-

-

0

0

645

1,357

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for acquisition holdback

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-138

-83

-686

Net cash (used for) provided by financing activities:

705

-15,499

-5,957

-62,147

-14,679

-29,584

2,476

-105,154

-111,796

256,471

9,890

2,126

2,121

26,495

-20,374

400

-23,320

-2,692

-14,510

-11,697

-356

167,951

1,006

429

-1,326

856

1,117

1,001

-1,184

-11,281

1,373

8

-27,609

656

197

-234

27,519

Effect of exchange rates on cash

-6

149

-81

20

18

182

175

-3

13

0

9

9

2

8

-7

2

-12

4

0

-12

-9

28

-29

3

0

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

55,995

-

360

-28,384

13,243

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

65,726

-136,908

-2,054

-22,446

27,986

52,049

-38,108

2,120

-38,024

8,911

-22,175

-24,694

28,534

183,530

-710

-7,085

16,772

-1,860

-11,701

-22,426

29,519

-2,986

-2,037

-1,676

-39,777

10,287

-14,251

6,358

52,150

SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Cash paid during the period for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-86

3,331

2,964

279

3,254

286

3,208

250

256

258

121

346

982

254

367

204

1,101

286

292

407

444

485

499

655

Cash paid during the period for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

1,358

-459

-306

-103

2

1,282

517

121

-140

24

392

51

311

0

956

944

-

-

-

-

-

-

-

-

NON-CASH INVESTING ACTIVITIES
Purchase of property, equipment and intangibles by incurring current liabilities

860

-2,027

1,716

-377

1,728

135

-102

-315

2,067

793

-1,751

1,274

1,130

461

1,866

-316

1,269

-1,194

311

958

164

631

-183

-308

760

-595

-240

-497

1,504

531

255

15

285

3

1

60

96

Reduction of other current liabilities upon issuance of restricted share units

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NON-CASH FINANCING ACTIVITIES
Decrease of accrued payroll and related expenses upon issuance of common stock

-

-

-

-

-

-

-

-

-

-

0

0

903

-

539

0

539

-

0

0

408

-

0

0

663

-

0

9

447

-

-

0

917

-

-

-

-

Extinguishment of Convertible Senior Notes through issuance of stock

-

-

-

-

-

2

32

82,110

118,075

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of other non-current assets upon issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

478