Startek, inc. (SRT)
Balance Sheet / Quarterly
Dec'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'11Dec'10
Current assets
Cash and cash equivalents

20,464

17,795

15,452

14,595

16,617

14,133

1,336

17,693

1,456

1,336

1,889

1,364

1,039

791

1,254

830

2,626

814

6,394

6,465

5,306

6,552

6,037

6,809

10,989

6,017

9,995

7,339

9,183

9,199

11,368

10,471

9,719

11,516

20,151

18,740

Restricted cash

12,162

10,582

10,456

11,093

7,952

6,392

-

5,226

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Trade accounts receivables, net

108,479

105,574

107,646

102,548

107,836

145,156

51,812

110,545

53,052

54,717

56,685

54,639

60,179

54,918

52,539

53,879

57,940

51,537

52,823

45,797

46,103

46,003

46,067

46,707

43,708

44,818

40,659

41,846

41,070

35,112

31,984

36,692

37,736

39,943

40,759

46,989

Unbilled revenue

41,449

42,814

49,265

50,499

42,135

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other current assets

12,008

15,082

17,567

17,454

18,850

19,462

-

18,772

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income tax receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

342

293

110

-

404

300

-

Deferred income tax assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67

70

2

157

279

273

282

288

201

195

198

193

106

115

111

Derivative asset

-

-

-

-

-

-

-

-

-

560

168

-

-

-

58

-

-

5

43

17

48

-

34

-

0

0

0

292

733

-

-

-

106

-

-

-

Derivative asset

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

998

798

-

-

12

99

1,078

Prepaid expenses

-

-

-

-

-

-

2,926

-

2,351

2,606

2,787

2,546

2,140

1,730

1,856

2,410

2,019

3,847

3,921

3,465

2,257

2,268

1,941

2,543

2,939

2,770

2,783

3,023

2,045

2,717

2,569

2,882

2,534

3,490

4,244

4,559

Assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,500

4,368

4,969

4,969

-

-

-

4,102

-

-

-

Assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,969

4,969

4,102

-

5,103

5,103

5,103

Current portion of note receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

326

486

-

660

660

660

660

660

660

660

660

660

660

660

Other current assets

-

-

-

-

-

-

468

-

1,290

575

1,263

1,492

1,670

885

1,276

1,488

1,433

1,352

1,132

1,170

794

914

1,468

854

2,271

902

624

1,375

1,332

662

1,010

1,022

1,277

1,143

1,846

594

Total current assets

194,562

191,847

200,386

196,189

193,390

185,143

56,542

152,236

58,149

59,794

62,792

60,041

65,028

58,324

56,983

58,607

64,018

57,555

64,313

56,914

54,508

55,804

55,943

57,401

60,064

58,946

59,362

59,786

60,280

54,860

53,846

56,137

56,327

62,377

73,277

77,834

Non-current assets
Property, plant and equipment, net

37,507

35,745

39,638

41,638

42,242

35,784

16,265

25,814

19,943

18,302

19,092

20,784

23,276

22,187

25,080

27,751

30,364

33,706

34,250

32,398

28,180

24,377

24,566

22,026

22,210

22,659

21,832

24,483

26,310

30,325

30,626

33,512

38,475

41,004

42,262

46,985

Operating lease right-of-use assets

73,692

66,647

72,079

76,983

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

378

479

1,345

1,384

1,386

1,429

1,237

1,284

2,079

2,151

2,665

4,025

3,992

3,930

3,031

3,095

3,245

3,355

3,959

4,272

4,102

Deferred income tax assets

-

-

-

-

-

-

-

-

-

366

346

338

-

415

382

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term note receivable, net of current portion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

141

297

450

602

702

851

1,047

1,192

1,336

1,654

1,980

Net Intangibles

110,807

113,410

116,026

118,726

121,336

139,158

2,818

110,320

5,557

5,842

6,127

6,412

6,697

6,982

7,266

7,551

7,847

8,143

8,439

2,512

2,609

737

773

809

1,164

2,838

1,413

1,490

0

-

-

-

-

-

-

-

Goodwill

219,341

226,513

226,505

226,505

225,450

240,553

9,077

153,368

9,077

9,077

9,077

9,077

9,077

9,077

9,077

9,077

9,148

8,995

8,701

4,136

4,136

2,002

2,002

2,002

1,637

-

-

-

0

-

-

-

-

-

-

-

Investment in equity affiliates

553

1,739

1,767

2,440

2,097

10,877

-

10,911

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax assets, net

5,251

5,052

6,116

4,075

5,048

4,354

-

4,481

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Prepaid expenses and other non-current assets

16,370

18,761

18,153

17,562

15,076

12,412

-

9,511

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total non-current assets

463,521

-

-

-

411,249

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term assets

-

-

-

-

-

-

3,378

-

3,272

2,764

2,864

2,408

2,730

2,320

2,358

2,468

2,948

3,000

3,328

2,892

2,931

2,477

2,330

2,767

2,491

2,047

1,984

2,070

2,010

1,806

2,173

2,134

2,084

1,999

1,730

1,854

Total assets

658,083

659,714

680,670

684,118

604,639

628,281

88,080

466,641

95,998

96,145

100,298

99,060

106,808

99,305

101,146

105,832

114,804

112,744

120,415

100,238

93,793

86,634

86,898

87,084

89,717

89,296

88,913

92,271

93,132

90,724

90,591

96,075

101,433

110,675

123,195

132,755

Current liabilities
Trade accounts payables

25,449

20,965

24,810

-

26,886

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-

-

-

26,757

-

24,898

6,387

20,672

7,019

6,220

7,105

7,095

7,612

7,204

7,622

8,897

9,232

9,931

10,391

10,812

10,434

7,879

7,140

8,246

8,477

9,124

7,156

7,664

7,174

7,481

6,844

8,046

7,385

6,951

7,754

7,344

Accrued expenses and other current liabilities

82,598

79,805

77,621

82,796

84,881

81,328

-

70,263

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Short term debt

26,491

25,213

28,295

26,522

21,975

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current maturity of long term debt

17,601

16,900

14,000

12,600

9,800

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current maturity of operating lease obligation

19,677

19,838

22,000

23,204

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current maturity of finance lease obligation

632

658

1,074

-

1,816

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other current liabilities

82,598

79,805

77,621

-

84,881

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current maturity of capital lease liabilities

-

-

-

1,394

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued employee compensation and benefits

-

-

-

-

-

-

10,138

-

12,850

12,408

13,324

10,345

13,767

12,527

13,204

-

12,956

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued employee compensation and benefits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,530

-

10,083

10,779

7,019

7,831

10,223

8,344

8,254

9,196

9,741

8,814

9,365

7,035

7,522

6,847

7,010

7,036

8,580

9,337

10,294

Accrued compensated absences

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,682

3,036

2,173

-

-

2,733

2,398

2,469

2,220

2,572

2,325

2,591

2,455

3,324

3,432

3,441

3,879

5,566

3,768

Accrued restructuring costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

627

1,724

208

-

14

12

261

-

1,154

1,023

1,069

1,260

1,333

2,933

1,096

Other accrued liabilities

-

-

-

-

-

-

2,258

-

2,105

1,988

2,846

2,696

2,083

1,733

1,763

3,103

2,451

1,696

2,259

1,122

3,040

2,260

2,230

1,573

1,901

1,272

1,024

946

2,150

1,245

910

1,467

1,079

755

1,022

1,484

Line of credit

-

-

-

-

-

-

-

-

-

0

0

0

26,025

22,184

23,460

26,855

32,214

28,384

28,543

9,286

4,640

2,500

1,000

506

1,000

-

-

-

0

-

-

-

-

-

-

-

Derivative liability

-

-

-

-

-

-

-

-

-

396

392

560

-

159

143

113

524

1,132

485

1,210

1,250

1,932

381

1,590

2,160

1,763

2,395

503

253

113

147

400

616

924

-

91

Short term debt

-

-

-

-

-

28,010

2,395

23,871

2,725

2,806

2,312

2,446

2,740

3,321

3,283

3,604

3,497

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Current tax liabilities, net

-

-

-

-

-

673

-

3,160

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

811

512

-

577

553

559

638

480

565

558

671

866

702

749

Deferred income tax liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,083

1,026

991

965

766

766

766

766

993

2,390

2,390

2,390

1,363

1,363

1,363

1,363

2,068

2,068

2,068

Other current debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,170

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other current liabilities

-

-

-

-

-

-

1,444

-

1,249

974

929

889

2,137

1,314

1,184

1,297

1,560

5,624

4,126

4,604

1,342

1,957

2,011

1,895

2,529

1,972

1,524

1,737

1,648

1,005

800

582

634

656

667

771

Total current liabilities

172,448

163,379

167,800

173,273

145,358

134,909

22,622

117,966

25,948

24,792

26,908

24,031

54,364

48,442

50,659

53,399

62,434

60,615

60,645

37,217

31,672

28,144

27,140

25,948

28,498

27,676

26,440

25,750

23,879

22,818

21,823

23,927

23,485

26,012

30,049

27,665

Non-current liabilities
Long term debt

130,144

141,632

148,726

-

152,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long-term Line of Credit

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Line of credit

-

-

-

-

-

-

27,671

-

19,078

17,392

18,876

20,719

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued restructuring costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

7

195

-

260

285

385

390

353

453

998

Deferred rent

-

-

-

-

-

-

-

-

-

652

786

971

-

1,303

1,450

1,569

1,629

3,834

1,823

1,897

1,593

1,407

1,313

1,332

1,445

1,592

1,816

2,054

2,202

2,323

2,413

2,491

2,756

2,843

2,947

3,089

Deferred income tax liabilities

-

-

-

-

-

-

-

-

-

679

622

564

-

408

317

317

393

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other debt

-

-

-

-

-

-

-

-

-

-

-

-

5,500

-

-

-

8,189

-

-

-

4,770

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Long term debt

-

-

-

149,582

-

150,336

1,850

127,133

3,128

3,705

4,278

4,889

-

6,195

6,881

7,548

-

6,701

8,223

7,826

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

54,341

47,782

51,400

55,016

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accured Expense and other non-current liabilities

11,140

-

-

-

11,907

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other non-current liabilities

11,140

-

-

-

11,907

9,976

-

9,686

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other non-current liabilities

-

12,581

14,279

14,286

-

-

688

-

905

661

629

589

2,200

0

235

235

234

652

957

1,303

1,077

1,873

2,043

1,434

1,600

577

362

447

772

116

118

270

440

636

814

356

Deferred tax liabilities, net

18,226

19,562

18,586

17,127

18,901

17,026

-

17,711

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total non-current liabilities

213,851

-

-

-

182,908

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total liabilities

386,299

384,936

400,791

409,284

328,266

312,247

52,831

272,496

49,059

47,881

52,099

51,763

62,064

56,348

59,542

63,068

72,879

71,802

71,648

48,243

39,112

31,424

30,496

28,714

31,543

29,848

28,625

28,446

26,853

25,517

24,639

27,073

27,071

29,844

34,263

32,108

Commitments and contingencies

-

0

-

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Stockholders’ equity
Common stock, 60,000,000 non-convertible shares, $0.01 par value, authorized; 38,525,636 and 37,446,323 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively

385

385

384

375

374

371

162

208

162

161

159

159

158

157

157

157

157

156

156

154

154

154

154

154

154

154

153

153

153

153

153

152

152

153

152

151

Additional paid-in capital

276,827

275,750

275,284

268,256

267,317

296,185

85,906

153,702

82,594

82,153

81,202

80,887

80,560

79,876

79,378

78,967

78,439

78,128

77,614

76,604

76,056

75,607

75,226

74,725

74,273

73,909

73,446

73,026

72,435

72,129

71,807

71,419

71,058

70,621

70,262

69,222

Accumulated (deficit) / earnings

-46,145

-40,854

-38,067

-34,473

-31,127

-21,425

-50,933

-6,815

-37,201

-34,749

-33,578

-34,132

-35,925

-37,117

-37,973

-36,289

-36,320

-36,653

-28,948

-23,879

-20,704

-19,112

-19,026

-15,744

-15,244

-14,229

-12,438

-11,166

-8,838

-9,989

-8,759

-4,482

1,650

9,111

15,906

28,112

Accumulated other comprehensive income (loss)

-6,022

-6,821

-4,634

-4,955

-5,547

-6,495

114

-402

1,384

699

416

383

-49

41

42

-71

-351

-689

-55

-884

-825

-1,439

48

-765

-1,009

-386

-873

1,812

2,529

2,914

2,751

1,913

1,502

946

2,612

3,162

Equity attributable to Startek Shareholders

225,045

228,460

232,967

229,203

231,017

268,636

35,249

146,693

46,939

48,264

48,199

47,297

44,744

42,957

41,604

42,764

41,925

40,942

48,767

51,995

54,681

55,210

56,402

58,370

58,174

59,448

60,288

63,825

66,279

65,207

65,952

69,002

74,362

80,831

-

100,647

Non-controlling interest

46,739

46,318

46,912

45,631

45,356

47,398

-

47,452

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total stockholders’ equity

271,784

274,778

279,879

274,834

276,373

316,034

-

194,145

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

88,932

-

Total liabilities and stockholders’ equity

658,083

659,714

680,670

684,118

604,639

628,281

88,080

466,641

95,998

96,145

100,298

99,060

106,808

99,305

101,146

105,832

114,804

112,744

120,415

100,238

93,793

86,634

86,898

87,084

89,717

89,296

88,913

92,271

93,132

90,724

90,591

96,075

101,433

110,675

123,195

132,755