Ultralife corp (ULBI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
OPERATING ACTIVITIES:
Net income

5,314

24,999

7,664

3,482

2,840

-2,131

-960

-1,629

-2,138

-6,209

-9,231

Loss (gain) from discontinued operations, net of tax

-

-

-

-

-

-61

128

-501

-3,687

-17,377

-4,026

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

2,220

1,972

2,005

2,223

2,401

-

-

-

-

-

-

Amortization of intangible assets

525

397

422

503

235

305

402

497

627

817

944

Amortization of financing fees

44

36

52

71

71

-

-

-

-

-

-

Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)

-

-

-

-

150

0

-

-

-

-

-

Amortization of financing fees

-

-

-

-

-

2,828

3,029

3,467

3,600

3,705

3,866

Foreign exchange loss

-

-

-

-

-

0

15

-43

95

124

-49

Gain on litigation settlement

-

-

-

-

-

-

-

-

-

-

1,256

Stock-based compensation

753

890

653

710

571

1,003

1,131

1,379

1,225

1,077

1,330

Loss on Long-Lived Asset Disposals

-

-

-

-29

-114

298

56

-13

-91

217

-79

Deferred income taxes

-1,211

18,643

1,669

-135

-183

196

113

-15

-448

-258

-171

Provision for allowance for doubtful accounts

-

-

-

-24

-22

52

-

-

-

-

-

Provision for allowance for doubtful accounts

-

-

-

-

-

-

29

-

-

-

-

Changes in operating assets and liabilities:
Provision (gain) for the allowance for accounts receivable

-

-

-

-

-

-

-

9

237

216

-188

Provision for inventory obsolescence

-

-

-

-

-

-

-

375

1,537

-387

-1,123

Provision for warranty charges

-

-

-

-

-

-

-

370

591

-602

-436

Provision for workers' compenstion obligation

-

-

-

-

-

-

-

-

-217

-303

170

Accounts receivable

10,416

1,511

1,300

667

217

2,878

6,694

-1,183

-15,035

3,096

125

Inventories

3,319

-2,348

2,537

-1,981

-2,101

-46

4,418

-4,122

5,738

-2,113

-5,527

Inventory reserves

1,123

838

-

-

-

-

-

-

-

-

-

Prepaid expenses and other assets

1,575

-373

673

-730

757

249

-647

-

-

-

-

Due from insurance company

-

-

-

-

-

0

316

-1,019

1,730

-

-

Income taxes receivable and payable

25

9

-8

-158

158

-25

121

-

-

-

-

Income taxes payable

-

-

-

-

-

-

-

-9

-43

26

-554

Accounts payable and other liabilities

1,125

-822

2,661

-1,362

723

-2,003

-6,694

-5,611

-6,225

-4,730

-4,829

Net cash provided by (used in) operating activities

-

-

-

-

8,551

-

7,895

5,863

10,938

10,730

1,815

Income taxes receivable

-

-

-

-

-

-

-

-194

220

-

-

Prepaid expenses and other assets

-

-

-

-

-

-

-

75

-266

737

99

Net cash used in operating activities of discontinued operations

-

-

-

-

-

-

-998

-1,095

24

179

217

Net cash used in operating activities

-2,970

10,886

7,270

7,653

-

3,665

6,897

4,768

10,962

10,909

2,032

INVESTING ACTIVITIES:
Purchase of SWE, net of cash acquired

25,248

-

-

9,857

0

-

-

-

50

137

6,766

Purchases of property, plant and equipment

6,281

4,185

1,392

1,219

2,910

1,653

766

2,685

2,362

1,762

1,820

Proceeds from sale of equipment

-

-

-

-

-

-

-

-

13

445

-

Change in Restricted Cash

-

-

-

-

0

-268

2

260

-298

464

-

Net cash used in investing activities

-

-

-

-

-2,910

-

-768

-2,945

-2,101

-1,918

-8,586

Net cash provided by investing activities from discontinued operations

-

-

-

-

-

-

499

2,133

102

-33

-215

Net cash used in investing activities

-31,529

-4,185

-1,392

-11,076

-

-1,385

-269

-812

-1,999

-1,951

-8,801

FINANCING ACTIVITIES:
Payment of debt issuance costs

157

-

-

-

-

-

-

-

-

-

-

Cash paid to repurchase treasury stock

-

-

-

-

-

-762

0

-

-

-

-

Proceeds from exercise of stock options

930

1,568

1,429

460

538

11

12

-

-

-

-

Tax withholdings on stock-based awards

8

55

26

28

18

0

-

-

-

-

-

Proceeds from revolving credit facility

10,182

-

-

-

-

-

-

-

-

-

-

Proceeds from term loan facility

8,000

-

-

-

-

-

-

-

-

-

-

Payment of term loan facility

866

-

-

-

-

-

-

-

-

-

-

Effect of Exchange Rate Changes on Cash

-

-

-

-166

-

-

-

-

-

-

-

Proceeds from term loan facility

-

-

-

-

-

-

-

-

-

-

751

Repurchase of common stock

1,957

742

-

607

9,388

-

-

-

-

-

3,326

Proceeds from government grant

-

397

-

-

-

-

-

-

-

-

-

Proceeds from Debt Borrowings

-

-

-

3,030

0

-

-

-

-

-

-

Payments of Debt Borrowings

-

-

-

-3,030

0

-

-

-

-

-

-

Interest Paid

-

-

-

-

150

76

107

237

353

845

1,289

Net change in revolving credit facility

-

-

-

-

-

-

-

-

-8,541

-6,959

15,500

Proceeds from stock option exercise

-

-

-

-

-

-

-

115

73

55

349

Net cash used in financing activities from discontinued operations

-

-

-

-

-

-

-

0

-128

-151

-160

Net cash used in financing activities

16,124

1,168

1,403

-175

-

-751

12

115

-8,604

-10,629

10,761

Effect of exchange rate changes on cash

-154

-265

343

-

-

-

-

-

-

-

-

DECREASE IN CASH

-18,529

7,604

7,624

-

-

-

-

-

-

-

-

Principal payments on debt and capital lease obligations

-

-

-

-

-

-

-

-

8

3,574

2,359

Short-swing profit recovery

-

-

-

-

-

-

-

-

-

-

6

Net cash provided by financing activities

-

-

-

-

-8,868

-

-

115

-8,476

-10,478

10,921

Effect of exchange rate changes on cash

-

-

-

-

-91

-

-

-

-

-

-

INCREASE IN CASH

-

-

-

-3,764

-3,318

-

-

-

-

-

-

Supplemental cash flow information:
Construction in process in accounts payable

74

1,616

87

83

0

1,019

0

-

-

-

-

Income taxes paid

266

220

345

273

52

60

100

357

158

1

605

Interest paid

576

132

102

179

-

-

-

-

-

-

-

Effect of exchange rate changes on cash and cash equivalents

-

-

-

-

-

116

-230

265

320

218

224

DECREASE IN CASH AND CASH EQUIVALENTS

-

-

-

-

-

1,645

6,410

4,336

679

-1,453

4,216

Issuance of common stock for acquired companies

-

-

-

-

-

-

-

-

-

858

-

Purchase of property and equipment via capital lease payable

-

-

-

-

-

-

-

-

-

303

102