Company Quick10K Filing
Differential Brands Group
Price4.12 EPS-3
Shares59 P/E-1
MCap242 P/FCF-0
Net Debt1,397 EBIT-27
TEV1,639 TEV/EBIT-61
TTM 2019-09-30, in MM, except price, ratios
10-Q 2019-09-30 Filed 2019-11-14
10-Q 2019-06-30 Filed 2019-08-14
10-Q 2019-03-31 Filed 2019-05-20
10-K 2018-12-31 Filed 2019-05-16
10-Q 2018-09-30 Filed 2018-11-14
10-Q 2018-06-30 Filed 2018-08-14
10-Q 2018-03-31 Filed 2018-05-15
10-K 2017-12-31 Filed 2018-04-02
10-Q 2017-09-30 Filed 2017-11-14
10-Q 2017-06-30 Filed 2017-08-14
10-Q 2017-03-31 Filed 2017-05-15
10-K 2016-12-31 Filed 2017-03-30
10-Q 2016-09-30 Filed 2016-11-14
10-Q 2016-06-30 Filed 2016-08-16
10-Q 2016-03-31 Filed 2016-05-16
10-K 2015-11-30 Filed 2016-02-29
10-Q 2015-08-31 Filed 2015-10-13
10-Q 2015-05-31 Filed 2015-07-10
10-Q 2015-02-28 Filed 2015-04-09
10-K 2014-11-30 Filed 2015-02-13
10-Q 2014-08-31 Filed 2014-10-09
10-Q 2014-05-31 Filed 2014-07-10
10-Q 2014-02-28 Filed 2014-04-09
10-K 2013-11-30 Filed 2014-02-13
10-Q 2013-08-31 Filed 2013-10-15
10-Q 2013-02-28 Filed 2013-04-15
10-K 2012-11-30 Filed 2013-02-21
10-Q 2012-08-31 Filed 2012-10-15
10-Q 2012-05-31 Filed 2012-07-16
10-Q 2012-02-29 Filed 2012-04-12
10-K 2011-11-30 Filed 2012-02-28
10-Q 2011-08-31 Filed 2011-10-11
10-Q 2011-05-31 Filed 2011-07-11
10-Q 2011-02-28 Filed 2011-04-11
10-K 2010-11-30 Filed 2011-02-10
10-Q 2010-08-31 Filed 2010-10-14
10-Q 2010-05-31 Filed 2010-07-15
10-Q 2010-02-28 Filed 2010-04-08
10-K 2009-11-30 Filed 2010-02-03
8-K 2020-06-30 Officers
8-K 2020-05-18
8-K 2020-05-11
8-K 2020-04-21
8-K 2020-04-11
8-K 2020-03-30
8-K 2020-03-29
8-K 2019-12-05
8-K 2019-11-14
8-K 2019-10-03
8-K 2019-09-10
8-K 2019-07-30
8-K 2019-06-24
8-K 2019-06-07
8-K 2019-04-25
8-K 2019-04-18
8-K 2019-04-17
8-K 2019-04-09
8-K 2018-12-31
8-K 2018-11-14
8-K 2018-11-06
8-K 2018-11-05
8-K 2018-10-30
8-K 2018-10-29
8-K 2018-10-29
8-K 2018-09-28
8-K 2018-08-14
8-K 2018-06-27
8-K 2018-06-27
8-K 2018-05-15
8-K 2018-04-02
8-K 2018-01-18

DFBG 10Q Quarterly Report

Part I — Financial Information
Item 1. Financial Statements
Item 2. Management’S Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II — Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities.
Item 4. Mine Safety Disclosures.
Item 5. Other Information
Item 6. Exhibits.
EX-31.1 ctrc-20190930ex3112c2418.htm
EX-31.2 ctrc-20190930ex31222b809.htm
EX-32.1 ctrc-20190930ex321892ef2.htm

Differential Brands Group Earnings 2019-09-30

Balance SheetIncome StatementCash Flow
2.21.71.30.80.4-0.12012201420172020
Assets, Equity
0.80.60.40.30.1-0.12012201420172020
Rev, G Profit, Net Income
0.40.20.1-0.1-0.2-0.42012201420172020
Ops, Inv, Fin

10-Q 1 ctrc-20190930x10q.htm 10-Q ctrc_current_folio_10-Q

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2019

 

OR

 

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                      to                     

 

Commission file number:  000-18926

 

CENTRIC BRANDS INC.

(Exact name of registrant as specified in its charter)

 

Delaware

    

11-2928178

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

 

350 5th Avenue, 6th Floor, New York, NY 10118

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code: (646) 582-6000

 

N/A

(Former name, former address and former fiscal year, if changed since last report)

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

 

 

 

Title of each class

    

Trading Symbol(s)

    

Name of each exchange on which registered

Common Stock, par value $0.10 per share

 

CTRC

 

The Nasdaq Stock Market LLC (Nasdaq Capital Market)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  ☒ Yes  ☐ No

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  ☒  Yes  ☐ No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐

 

Smaller reporting company ☒

Non-accelerated filer ☒

 

Emerging growth company ☐

Accelerated filer ☐

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Act.)  Yes ☐  No ☒

 

The number of shares of the registrant’s common stock outstanding as of November 14, 2019 was 59,056,743.

 

 

 

 

CENTRIC BRANDS INC.

INDEX TO QUARTERLY REPORT ON FORM 10-Q

 

 

 

Item Number

 

Page

 

 

 

 

PART I FINANCIAL INFORMATION

 

 

 

 

Item 1. 

Financial Statements

 

 

Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018

3

 

Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2019 and 2018        

4

 

Condensed Consolidated Statements of Equity (Deficit) for the three and nine months ended September 30, 2019 and 2018

5

 

Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018

7

 

Notes to Condensed Consolidated Financial Statements

8

Item 2. 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

29

Item 3. 

Quantitative and Qualitative Disclosures About Market Risk

48

Item 4. 

Controls and Procedures

48

 

 

 

 

PART II OTHER INFORMATION

 

 

 

 

Item 1. 

Legal Proceedings

49

Item 1A. 

Risk Factors

49

Item 2. 

Unregistered Sales of Equity Securities and Use of Proceeds

49

Item 3. 

Defaults upon Senior Securities

49

Item 4. 

Mine Safety Disclosures

49

Item 5. 

Other Information

49

Item 6. 

Exhibits

50

 

 

 

 

Signature Page

51

 

 

 

2

PART I — FINANCIAL INFORMATION

Item 1.          Financial Statements

 

CENTRIC BRANDS INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(amounts in thousands, except per share data)

 

 

 

 

 

 

 

 

 

    

September 30, 

    

December 31, 

 

 

2019

 

2018

 

 

(unaudited)

 

(Note 1)

ASSETS

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

Cash and cash equivalents

 

$

18,986

 

$

29,519

Accounts receivable, net

 

 

18,197

 

 

27,910

Sold receivables, net

 

 

85,450

 

 

33,825

Inventories

 

 

443,303

 

 

342,952

Prepaid expenses and other current assets

 

 

83,437

 

 

48,378

Total current assets

 

 

649,373

 

 

482,584

Property and equipment, net

 

 

91,478

 

 

93,044

Goodwill

 

 

356,814

 

 

376,132

Intangible assets, net

 

 

838,690

 

 

897,470

Operating lease right-of-use assets

 

 

206,096

 

 

 —

Other assets

 

 

12,222

 

 

9,725

Total assets

 

$

2,154,673

 

$

1,858,955

 

 

 

 

 

 

 

LIABILITIES AND EQUITY (DEFICIT)

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

707,069

 

$

525,863

Current portion of operating lease liabilities

 

 

28,059

 

 

 —

Current portion of long-term debt

 

 

28,219

 

 

11,287

Revolving credit facilities

 

 

46,360

 

 

315

Total current liabilities

 

 

809,707

 

 

537,465

Convertible notes

 

 

39,965

 

 

36,235

Long-term debt, net of current portion

 

 

1,197,636

 

 

1,195,297

Operating lease liabilities, net of current portion

 

 

186,680

 

 

 —

Other non-current liabilities

 

 

131

 

 

6,581

Total liabilities

 

 

2,234,119

 

 

1,775,578

 

 

 

 

 

 

 

Commitments and contingencies (Note 7)

 

 

 

 

 

 

Equity (Deficit)

 

 

 

 

 

 

Common stock, $0.10 par value: 100,000 shares authorized, 58,738 and 58,364 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively

 

 

5,873

 

 

5,836

Additional paid-in capital

 

 

226,461

 

 

218,240

Accumulated other comprehensive (loss) income

 

 

(500)

 

 

487

Accumulated deficit

 

 

(311,280)

 

 

(141,186)

Total equity (deficit)

 

 

(79,446)

 

 

83,377

Total liabilities and equity

 

$

2,154,673

 

$

1,858,955

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

3

CENTRIC BRANDS INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND

COMPREHENSIVE LOSS

(in thousands, except per share data)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 

 

Nine months ended September 30, 

 

    

2019

    

2018

    

2019

    

2018

Net sales

 

$

712,429

 

$

39,830

 

$

1,664,533

 

$

114,614

Cost of goods sold

 

 

534,172

 

 

22,671

 

 

1,255,678

 

 

66,774

Gross profit

 

 

178,257

 

 

17,159

 

 

408,855

 

 

47,840

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

99,318

 

 

25,029

 

 

315,450

 

 

58,992

Depreciation and amortization

 

 

25,121

 

 

1,378

 

 

71,692

 

 

4,252

Other operating expense, net

 

 

14,121

 

 

 —

 

 

48,963

 

 

 —

Total operating expenses

 

 

138,560

 

 

26,407

 

 

436,105

 

 

63,244

Operating income (loss)

 

 

39,697

 

 

(9,248)

 

 

(27,250)

 

 

(15,404)

Other expense, net

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

48,808

 

 

2,462

 

 

141,696

 

 

7,097

Other (income) expense, net

 

 

(182)

 

 

22

 

 

(426)

 

 

124

Total other expense, net

 

 

48,626

 

 

2,484

 

 

141,270

 

 

7,221

Loss before income taxes

 

 

(8,929)

 

 

(11,732)

 

 

(168,520)

 

 

(22,625)

Income tax provision (benefit)

 

 

50

 

 

(1,151)

 

 

1,574

 

 

(2,275)

Net loss

 

$

(8,979)

 

$

(10,581)

 

$

(170,094)

 

$

(20,350)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to common stockholders

 

$

(8,979)

 

$

(12,473)

 

$

(170,094)

 

$

(25,898)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(8,979)

 

$

(10,581)

 

$

(170,094)

 

$

(20,350)

Other comprehensive income (loss), net of tax:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment

 

 

(528)

 

 

(4)

 

 

(987)

 

 

137

Other comprehensive income (loss)

 

 

(528)

 

 

(4)

 

 

(987)

 

 

137

Comprehensive loss

 

$

(9,507)

 

$

(10,585)

 

$

(171,081)

 

$

(20,213)

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per common share - basic

 

 

 

 

 

 

 

 

 

 

 

 

Loss per common share - basic

 

$

(0.15)

 

$

(0.89)

 

$

(2.90)

 

$

(1.87)

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per common share - diluted

 

 

 

 

 

 

 

 

 

 

 

 

Loss per common share - diluted

 

$

(0.15)

 

$

(0.89)

 

$

(2.90)

 

$

(1.87)

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

58,736

 

 

14,085

 

 

58,638

 

 

13,873

Diluted

 

 

58,736

 

 

14,085

 

 

58,638

 

 

13,873

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 

4

CENTRIC BRANDS INC.

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT)

(in thousands, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

Common Stock

 

Preferred Series A

 

Preferred Series A-1

 

Additional

 

Comprehensive

 

Accumulated

 

Total

 

    

Shares

    

Par Value

    

Shares

    

Par Value

    

Shares

    

Par Value

    

Paid-In Capital

    

Income (Loss)

    

Deficit

    

Equity/(Deficit)

Balance at June 30, 2018

 

14,079

 

$

1,408

 

 

50

 

$

 5

 

 

4,588

 

$

459

 

$

75,676

 

$

412

 

$

(27,190)

 

$

50,770

Stock-based compensation

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

614

 

 

 —

 

 

 —

 

 

614

Issuance of common stock, net of taxes withheld

 

53

 

 

 5

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(42)

 

 

 —

 

 

 —

 

 

(37)

Foreign currency translation

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(4)

 

 

 —

 

 

(4)

Net loss

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(10,581)

 

 

(10,581)

Balance, September 30, 2018

 

14,132

 

$

1,413

 

 

50

 

$

 5

 

 

4,588

 

$

459

 

$

76,248

 

$

408

 

$

(37,771)

 

$

40,762

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at June 30, 2019

 

58,734

 

$

5,873

 

 

 —

 

$

 —

 

 

 —

 

$

 —

 

$

223,504

 

$

28

 

$

(302,301)

 

$

(72,896)

Issuance of common stock, net of taxes withheld

 

 4

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Stock-based compensation

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

2,957

 

 

 —

 

 

 —

 

 

2,957

Foreign currency translation

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(528)

 

 

 —

 

 

(528)

Net loss

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(8,979)

 

 

(8,979)

Balance, September 30, 2019

 

58,738

 

$

5,873

 

 

 —

 

$

 —

 

 

 —

 

$

 —

 

$

226,461

 

$

(500)

 

$

(311,280)

 

$

(79,446)

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

CENTRIC BRANDS INC.

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT)

(in thousands, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

Common Stock

 

Preferred Series A

 

Preferred Series A-1

 

Additional

 

Comprehensive

 

Accumulated

 

Total

 

    

Shares

    

Par Value

    

Shares

    

Par Value

    

Shares

    

Par Value

    

Paid-In Capital

    

Income (Loss)

    

Deficit

    

Equity/(Deficit)

Balance at January 1, 2018

 

13,488

 

$

1,349

 

 

50

 

$

 5

 

 

 —

 

$

 —

 

$

61,314

 

$

271

 

$

(17,421)

 

$

45,518

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of Series A-1 convertible preferred stock

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

4,588

 

 

459

 

 

13,305

 

 

 —

 

 

 —

 

 

13,764

Stock-based compensation

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

2,121

 

 

 —

 

 

 —

 

 

2,121

Issuance of common stock, net of taxes withheld

 

644

 

 

64

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(492)

 

 

 —

 

 

 —

 

 

(428)

Foreign currency translation

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

137

 

 

 —

 

 

137

Net loss

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(20,350)

 

 

(20,350)

Balance, September 30, 2018

 

14,132

 

$

1,413

 

 

50

 

$

 5

 

 

4,588

 

$

459

 

$

76,248

 

$

408

 

$

(37,771)

 

$

40,762

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2019

 

58,364

 

$

5,836

 

 

 —

 

$

 —

 

 

 —

 

$

 —

 

$

218,240

 

$

487

 

$

(141,186)

 

$

83,377

Issuance of common stock, net of taxes withheld

 

374

 

 

37

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(452)

 

 

 —

 

 

 —

 

 

(415)

Stock-based compensation

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

8,673

 

 

 —

 

 

 —

 

 

8,673

Foreign currency translation

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(987)

 

 

 —

 

 

(987)

Net loss

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(170,094)

 

 

(170,094)

Balance, September 30, 2019

 

58,738

 

$

5,873

 

 

 —

 

$

 —

 

 

 —

 

$

 —

 

$

226,461

 

$

(500)

 

$

(311,280)

 

$

(79,446)

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 

6

CENTRIC BRANDS INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30,

 

    

2019

    

2018

CASH FLOWS FROM OPERATING ACTIVITIES

 

 

 

 

 

 

Net loss

 

$

(170,094)

 

$

(20,350)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

 

71,692

 

 

4,252

Amortization of deferred financing costs and discounts

 

 

14,891

 

 

896

Amortization of operating lease right-of-use assets

 

 

20,077

 

 

 —

Paid-in-kind interest

 

 

16,575

 

 

1,300

Stock-based compensation

 

 

8,673

 

 

2,121

Deferred taxes

 

 

(446)

 

 

(2,577)

Amortization of inventory step up

 

 

9,546

 

 

 —

Other non-cash adjustments

 

 

611

 

 

461

Changes in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable, net

 

 

(539,631)

 

 

2,439

Operating lease liability

 

 

(18,108)

 

 

 —

Inventories

 

 

(88,223)

 

 

(2,149)

Prepaid expenses and other assets

 

 

(39,234)

 

 

475

Accounts payable and accrued expenses

 

 

184,450

 

 

9,534

Other liabilities

 

 

(4,229)

 

 

125

Net cash used in operating activities

 

 

(533,450)

 

 

(3,473)

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES

 

 

 

 

 

 

Collection of deferred purchase price of sold receivables

 

 

499,527

 

 

 —

Termination fees paid on leases

 

 

(346)

 

 

 —

Purchases of property and equipment

 

 

(10,074)

 

 

(976)

Net cash provided by (used in) investing activities

 

 

489,107

 

 

(976)

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES

 

 

 

 

 

 

Repayment of long-term debt

 

 

(7,256)

 

 

(2,188)

Proceeds from line of credit, net

 

 

46,045

 

 

2,247

Repayment of finance leases

 

 

(2,561)

 

 

 —

Payment of deferred financing costs

 

 

(1,500)

 

 

 —

Taxes paid in lieu of shares issued for stock-based compensation

 

 

(415)

 

 

(428)

Net cash provided by (used in) financing activities

 

 

34,313

 

 

(369)

 

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

 

(503)

 

 

82

 

 

 

 

 

 

 

NET CHANGE IN CASH AND CASH EQUIVALENTS

 

 

(10,533)

 

 

(4,736)

 

 

 

 

 

 

 

CASH AND CASH EQUIVALENTS, at beginning of period

 

 

29,519

 

 

8,250

CASH AND CASH EQUIVALENTS, at end of period

 

$

18,986

 

$

3,514