Surmodics inc (SRDX)
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'11Dec'10
Operating Activities:
Net income

1,462

148

3,554

1,466

1,262

1,310

-1,753

-2,682

1,534

-1,556

400

720

506

2,300

2,577

3,934

821

2,653

1,357

3,925

3,051

3,614

2,344

3,598

2,459

3,630

3,686

3,131

4,102

4,248

2,740

3,062

1,723

2,706

-18,665

3,842

2,488

-6,171

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Loss on sale of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-59

-82

121

-1,054

-

-

-

-

Depreciation and amortization

1,796

1,804

1,850

1,887

1,819

1,756

1,720

1,605

1,586

1,520

1,549

1,396

1,328

1,282

1,170

1,406

1,388

909

722

694

706

683

661

674

683

697

712

728

724

722

715

734

731

749

766

789

807

797

Stock-based compensation

1,304

1,393

1,568

1,319

959

1,231

1,510

1,294

1,100

903

852

949

882

789

1,115

830

1,215

684

540

630

686

525

294

581

1,649

813

569

745

846

392

482

656

640

893

859

878

1,073

840

Payment of contingent consideration obligations in excess of acquisition-date value

0

608

0

0

0

2,041

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of premium on held-to-maturity securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

11

20

21

20

25

27

Contingent consideration gain

-

-

87

104

-317

-35

1,681

106

-2,230

1,118

676

-629

-611

437

459

532

392

109

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred taxes

1,582

-194

-109

-766

-523

310

-323

-2,655

-1,013

1,714

-954

1,429

-217

742

442

-2,105

1,171

753

-357

-345

-230

1,025

-254

66

-559

395

-526

-138

145

27

-180

-254

-237

-57

-1,054

1,333

967

-2,529

Losses (gains) on strategic investments

-

-

0

0

0

7

0

0

0

177

-

-

-

-

-

-

-

-

-4

-19

522

-7

7

29

125

681

-30

2

284

1,174

-

-

-

-

-

-

-

-

Provision for bad debts

164

-27

18

23

56

63

52

8

-3

28

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

-6

-11

453

-216

1,110

32

-690

-225

-61

-187

-4

-

-

-

-16

-

-

-39

-2

Unrealized foreign exchange (gain) loss

-

-

-

-

-

-

74

592

-338

-180

-347

-600

-190

663

-108

228

-429

-135

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-55

-30

-344

1,605

-20,855

791

-336

-9,031

Other

-58

-50

-12

1

22

-12

-26

73

-99

7

-

-24

20

5

-28

-3

15

3

-

2

1

39

-

-

-

-

-

-

-

2

-

-37

-15

4

-

-1

-1

-11

Change in operating assets and liabilities:
Accounts receivable and contract asset

-188

-1,726

621

253

-6

762

631

1,127

499

-484

285

20

568

-345

1,088

-1,125

1,320

-2,194

1,483

1,068

485

-309

-425

-434

500

-222

596

-175

495

-653

-108

549

-139

383

-1,191

-429

175

-428

Inventories

820

413

395

-207

194

161

48

-35

155

345

-9

44

-59

-73

31

15

14

83

-485

269

366

12

-83

142

-74

-496

118

-154

142

-302

261

-402

693

-209

254

590

67

43

Prepaids and other

-178

800

-53

754

781

649

-523

741

178

1,188

-1,492

1,085

260

746

-364

-36

-84

75

-75

-311

211

34

-91

-216

392

-62

-265

114

302

-111

-183

-6

126

48

-196

-139

150

-65

Accounts payable

-657

529

-546

-1,492

1,083

190

-

-

-355

-63

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued liabilities

1,286

-3,112

2,956

-1,072

-334

-3,737

4,216

60

3,042

-2,232

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

830

754

-2,713

2,964

307

1,793

-1,354

241

741

-101

-508

181

851

-129

-1,641

1,114

490

133

-1,499

782

-286

-287

-2,872

1,891

-1,429

-587

695

Income taxes

-3,556

-59

626

487

205

-496

27

-93

-966

190

499

-916

276

82

-1,177

3,178

-2,281

356

-88

604

-1,238

413

676

-1

-1,506

947

531

-198

-2,945

1,623

1,102

1,893

1,476

1,263

365

-1,333

2,933

3,051

Deferred revenue

-1,298

-1,346

2,328

-1,699

-1,752

-2,389

-2,251

-1,660

24,517

45

-156

11

-7

28

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-480

-25

-64

518

Net cash provided by (used in) operating activities

2,166

-909

12,520

-544

1,467

-5,405

4,830

1,791

26,817

614

6,397

3,393

2,312

1,951

6,599

8,987

3,302

6,278

2,990

5,246

1,300

5,530

6,071

6,530

1,686

4,250

5,877

5,079

1,418

5,407

5,641

5,811

4,233

1,941

5,710

3,051

7,417

6,722

Investing Activities:
Purchases of property and equipment

640

1,671

1,863

1,017

1,052

2,066

2,177

2,895

2,722

1,298

1,551

2,015

1,321

1,545

3,323

3,886

599

384

1,481

233

122

41

1,113

367

742

56

471

209

382

857

334

160

112

157

164

141

414

832

Purchases of available-for-sale securities

14,105

21,758

18,856

6,032

9,987

10,098

21,958

16,061

32,153

11,364

18,736

14,884

27,510

12,541

-

-

-

-

-1

-8

133

3,252

5,715

39,948

89,762

2,938

10,454

8,508

25,248

843

8,420

692

32,004

2,724

2,617

23,359

23,538

1,412

Cash proceeds from sales of property and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1

41

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales and maturities of available-for-sale securities

20,000

7,425

10,000

14,000

17,458

20,000

15,370

23,581

14,600

18,400

19,300

17,500

20,000

7,071

-

-

-

-

0

19,023

2,203

973

4,703

65,456

89,647

2,867

10,366

8,507

25,175

805

8,353

649

31,913

2,641

2,537

23,247

23,380

1,200

Payments for acquisition, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

805

-95

6,983

18,166

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

4,900

750

Cash received from sale of strategic investment

-

-

0

0

0

7

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

27

0

681

-50

0

1,028

1,258

-

-

-

-

-

-

-

-

Net cash (used in) provided by investing activities

5,255

-16,004

-11,469

6,951

6,429

7,843

-9,269

125

-20,094

5,738

-944

601

-8,831

-7,015

-16,375

-13,337

-7,206

-18,550

-1,750

18,819

1,949

-2,324

-2,239

24,942

-857

541

-530

-242

412

438

-1,040

-88

6,438

24,308

-983

-248

-6,559

-3,814

Financing Activities:
Cash transferred to discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-45

-115

-226

0

-13

2

-32

-161

75

-639

115

3,641

24,548

-8,943

-5

2,087

2,020

Issuance of common stock

227

91

446

13

228

36

702

1,010

222

155

228

28

175

13

210

59

215

10

259

103

233

115

164

19

268

61

146

40

149

84

64

63

138

79

-

-

-

-

Payments for taxes related to net share settlement of equity awards

409

1,964

0

10

17

2,661

201

3,224

2

1,130

28

1

-2

2,129

17

5

13

353

15

69

16

725

-3

0

17

1,097

-

-

-

-

-36

102

0

170

-

-

-

-

Payment of contingent consideration obligations

0

2,592

0

0

0

9,064

-

-

-

-

-

-

-

-

0

0

0

305

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of deferred financing costs

-

-

-

-

-

-

-

-

-

-

0

-1

59

38

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of common stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

20,000

1

0

3,120

9,424

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock-based compensation plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

-6

-11

453

-216

-206

-32

690

-225

-61

-187

-4

-

-

-

-16

-

-

-39

-2

Net cash used in financing activities

-1,182

-4,465

446

3

211

-11,689

501

-2,214

-705

-975

-456

-4,018

118

-2,154

193

54

202

-648

240

28

206

-20,157

-50

-187

-2,901

-9,770

-7,563

-7,663

-2,758

80

-54,929

-39

154

-107

53

142

337

-2

Net cash (used in) provided by continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,480

24,093

3,455

-16,951

3,782

31,285

-2,072

-4,979

-2,216

-2,826

-928

5,925

-50,328

5,684

10,825

26,142

4,780

2,945

1,195

2,906

Effect of exchange rate changes on cash and cash equivalents

-37

23

-52

36

-39

-15

-17

-141

98

35

187

115

7

-116

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net change in cash and cash equivalents

6,202

-21,355

1,445

6,446

8,068

-9,266

-3,955

-439

6,116

5,412

5,184

91

-6,394

-7,334

-9,669

-4,333

-3,679

-12,920

1,480

24,093

3,455

-16,951

3,782

31,285

-2,072

-4,979

-2,216

-2,826

-928

5,925

-50,328

5,684

10,825

26,142

4,780

2,943

1,185

2,918

Cash and Cash Equivalents:
Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-45

-115

-226

0

-13

2

-32

-161

75

-1

114

717

-2,344

-775

777

-1,500

-1,447

Net cash provided by (used in) investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1

2,924

26,892

-16

-734

-597

-561

Net cash provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

45

115

226

0

13

-2

32

161

-75

1

-115

-3,641

-24,548

791

-45

2,087

2,020

Net cash provided by discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

0

0

0

0

-1,027

1,025

-10

12

Supplemental Information:
Cash paid for income taxes

2

4

38

5

147

3

21

111

770

12

225

8

984

897

2,397

1,827

2,444

42

1,859

1,670

2,950

31

1,435

1,459

3,277

124

1,858

1,312

3,717

228

1,671

361

5

23

0

1,932

-2,294

-36

Noncash transactions from investing and financing activities:
Acquisition of property and equipment, net of refundable credits in other current assets and liabilities

-80

167

22

115

-82

147

-333

636

142

187

-3

-191

76

227

-83

34

45

54

-91

-42

143

12

-213

142

-41

123

7

12

-202

209

545

-94

94

8

0

-177

-67

348

Share repurchase accrual

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

513

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of performance shares, restricted and deferred stock units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

63

254

1,073

0

0

187

2,063

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Strategic investment gain receivable included in other current assets

-

-

-

-

-

-

-

-

-

177

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred financing costs in accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

45

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncash transactions - issuance of shares associated with long-term incentive plan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,756

-

-

-

-

-

-

-

-

-

-

-

-

Noncash transactions - issuance of performance shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Noncash transaction - acquisition of intangibles on account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,900