Sparton corp. (SPA)
CashFlow / Quarterly
Dec'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 (loss)

1,917

212

-278

2,092

-8,084

-1,984

1,687

429

-907

108

-42,081

1,136

268

2,394

5,098

4,133

1,562

196

2,971

4,246

3,484

2,286

5,636

1,536

4,841

1,457

4,391

2,005

1,942

1,509

-727

2,523

1,435

4,230

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation

1,364

1,410

1,427

1,438

1,454

1,536

1,420

1,485

1,489

1,500

1,595

1,481

1,815

1,192

1,285

1,139

1,103

1,118

1,208

1,179

1,190

1,123

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

1,641

1,670

1,719

1,802

1,893

1,923

1,989

2,099

2,191

2,219

2,269

2,361

2,459

2,503

2,274

1,492

1,485

1,340

1,004

1,091

729

598

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,564

993

479

-

441

426

405

535

389

364

323

Deferred income taxes

2,972

8

-2,886

11

10,103

19

598

0

13

19

-18,644

46

161

-125

166

-1,097

94

-36

-1,521

306

361

-122

-1,003

84

421

339

852

1,128

1,067

847

-11,618

114

114

114

Pension (income) expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

-79

93

-55

142

95

190

Stock-based compensation expense

60

-13

-514

8

10

211

638

-452

968

309

321

-901

437

432

167

500

769

449

375

370

620

297

266

265

333

264

205

206

356

176

144

130

249

123

Amortization of deferred financing costs

374

374

513

213

385

212

125

124

125

124

88

70

70

70

608

50

50

461

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on sale of property, plant and equipment, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

121

0

18

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

1

0

0

161

48

22

0

974

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

36

460

-

0

0

0

-

-

-

-

-

-

-

-

Amortization of deferred financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-137

-22

-8

-36

-37

-28

-16

-31

12

-86

-87

-87

-87

-87

-87

-87

Gain on acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

2,550

Changes in operating assets and liabilities:
Accounts receivable

1,269

-6,666

-5,277

11,264

533

8,586

-2,745

696

-810

1,447

-14,337

4,871

-3,316

-11,047

14,256

5,629

37

-12,882

2,540

671

-5,382

-2,715

10,959

-2,947

8,152

-3,846

-2,351

7,558

-4,788

5,303

2,033

2,025

-2,402

2,939

Income taxes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8

Inventories and cost of contracts in progress

-4,935

9,023

2,251

4,732

-4,559

9,734

-4,717

5,095

-7,900

-10,100

-2,089

3,242

-4,820

7,086

-4,863

5,829

381

-1,848

2,013

-1,056

-3,740

1,299

-1,914

1,560

-1,520

3,365

-4,150

707

-3,271

3,064

-1,679

3,696

-1,553

-541

Prepaid expenses and other assets

1,219

-4,589

4,729

-514

-545

204

-1,250

-841

-397

-202

-1,319

-639

669

1,898

498

-341

1,650

512

-1,659

-506

1,867

-165

-2,049

-1,201

2,812

-14

-1,066

-35

992

199

-741

4

502

104

Advance billings on customer contracts

-643

469

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Performance based payments on customer contracts

-4,480

-454

-

-

0

-1,749

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Performance based payments on customer contracts

-

-

-

-

-

-

1,749

-127

-153

280

0

-1,867

1,867

-1,756

539

-191

-8,686

6,898

-4,248

-11,667

5,745

-7,536

10,958

-8,531

-3,307

-3,285

5,685

735

-6,325

12,190

-6,258

-3,494

-1,467

2,645

Accounts payable and accrued expenses

4,832

6,321

8,907

-7,550

11,992

-4,873

-162

2,240

-1,374

-10,202

1,024

13,291

-4,338

-2,179

-10,662

8,704

-4,315

-5,053

-4,085

6,149

-1,693

-3,098

-1,171

5,088

-736

-2,392

1,648

2,339

97

-3,533

-155

3,382

-3,317

2,363

Net cash provided by (used in) operating activities

10,484

12,229

14,241

-17,476

22,355

-23,229

15,962

835

11,459

3,212

26,824

8,199

8,676

4,433

-7,920

3,668

-9,828

18,617

-2,760

2,735

17,771

-5,295

9,241

2,622

-6,317

-2,612

20,481

-1,283

4,511

3,208

-989

-2,573

1,021

4,997

Cash Flows from Investing Activities:
Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-3,174

12

Purchases of property, plant and equipment

1,302

651

457

680

2,644

455

2,067

2,259

1,451

1,119

871

1,964

1,783

1,480

1,899

2,075

815

1,013

1,248

841

938

474

901

1,369

544

1,058

861

1,466

1,186

731

903

912

886

476

Proceeds from sale of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1

31

37

0

275

0

0

-

-

-

-

0

4,021

0

18

Acquisition of businesses, net of cash required

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55,030

20,544

3,485

18,260

0

5,365

15,195

15,000

-

-

-

0

-

-

-

-

-

-

616

7,803

Net cash used in investing activity

-1,302

-651

-457

-671

-2,630

-455

-2,062

-2,242

-1,451

-1,119

-586

-1,743

-1,033

-1,480

-56,929

-22,619

-5,286

-19,273

-1,248

-6,205

-16,102

-15,437

-2,466

-3,282

-44,329

-1,058

-861

-1,191

564

-731

-693

-1,241

1,672

-8,273

Cash Flows from Financing Activities:
Borrowings under credit facility

35,300

48,100

23,700

62,100

33,100

71,700

28,919

41,519

31,240

28,404

30,900

50,850

28,300

18,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments under credit facility

44,200

59,600

36,000

44,200

51,800

48,600

42,041

39,603

41,309

29,835

57,094

61,250

33,300

33,700

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of stock

-

-

-

-

-

-

-

-

-

-

-1

0

0

141

0

379

4,621

1,830

0

0

0

1,559

2,126

0

0

234

0

1,521

1,466

10

-

-

-

-

Payments under capital lease agreements

67

68

67

65

68

68

72

66

68

61

56

52

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

46,690

45,710

20,014

-

12,000

15,500

25,500

39,000

0

0

0

-

-

-

-

-

-

-

-

Repayments of long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,190

29,210

19,014

-

2,037

19,036

7,035

19,635

9,435

35

35

34

35

33

33

32

33

33

32

Payment of debt financing costs

0

0

1,049

0

172

17

750

0

0

15

692

0

0

0

366

0

75

982

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

1

0

0

161

48

22

0

974

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from the exercise of stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

153

0

12

23

0

121

0

12

24

59

85

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-460

-

0

0

0

-

-

-

-

-

-

-

-

Net cash provided by (used in) financing activities

-8,967

-11,568

-13,416

17,835

-18,940

23,015

-13,944

1,850

-10,137

-1,507

-26,940

-10,452

-5,000

-15,680

74,182

21,296

11,804

-826

4,534

9,963

-3,379

17,366

-5,048

-1,048

13,616

-184

648

-1,454

-1,449

-43

113

-8

-33

-32

Net increase in cash and cash equivalents

215

10

368

-312

785

-669

-44

443

-129

586

-702

-3,996

2,643

-12,727

9,333

2,345

-3,310

-1,482

526

6,493

-1,710

-3,366

1,727

-1,708

-37,030

-3,854

20,268

-3,928

3,626

2,434

-1,569

-3,822

2,660

-3,308

Supplemental disclosure of cash flow information:
Cash paid for interest

1,453

1,505

1,684

1,375

930

950

1,296

560

900

1,072

1,154

844

845

663

795

381

280

291

166

145

167

153

47

110

172

86

86

88

88

88

91

92

105

77

Cash paid for income taxes

1,761

22

-283

72

94

509

562

199

354

0

0

0

764

2

3,807

988

866

1,529

2,331

1,771

2,625

338

1,188

-266

1,554

49

763

17

460

4

-13

21

17

-119

Machinery and equipment financed under capital leases

-

-

-

-

-

-

0

0

0

148

0

656

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Adjustments to acquired companies' opening balance sheets

-

-

-

-

-

-

-

-

-

-

0

-428

2,138

1,702

-887

-486

1,144

832

-

-

-

105

-

-

-

0

-

-

-

-

-

-

-

-

Accounts payable recognized in relation to acquisition purchase consideration adjustments and holdbacks

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-393

36

357

-

-

2,188

0

-

-

-

-

-

-

-

-