Shimmick Corp
For the period ended Mar 29, 2024. Filed May 20, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 29, 2024 · Filed May 20, 2024
SHIM$2.29-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Three Months Ended | ||
|---|---|---|
| March 29, | March 31, | |
| 2024 | 2023 | |
| Cash Flows From Operating Activities | ||
| Net loss | $(33,334) | $(9,333) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation | 998 | 528 |
| Depreciation and amortization | 4,410 | 4,165 |
| Equity in (earnings) loss of unconsolidated joint ventures | (263) | 541 |
| Return on investment in unconsolidated joint ventures | 284 | 5,762 |
| Loss (gain) on sale of assets | 26 | (1,877) |
| Other | 279 | 270 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 4,478 | (8,511) |
| Contract assets | (8,475) | (6,902) |
| Accounts payable | (8,901) | 9,919 |
| Contract liabilities | (5,579) | (9,703) |
| Accrued expenses | (492) | (21,070) |
| Accrued salaries, wages and benefits | 3,376 | 5,264 |
| Other assets and liabilities | 8,205 | 4,797 |
| Net cash used in operating activities | (34,988) | (26,150) |
| Cash Flows From Investing Activities | ||
| Purchases of property, plant and equipment | (4,620) | (2,470) |
| Proceeds from sale of assets | 199 | 377 |
| Unconsolidated joint venture equity contributions | (2,980) | (1,550) |
| Return of investment in unconsolidated joint ventures | - | 1,535 |
| Net cash used in investing activities | (7,401) | (2,108) |
| Cash Flows From Financing Activities | ||
| Net borrowings on revolving credit facility | 1,835 | 22,808 |
| Other | 4,883 | (77) |
| Net cash provided by financing activities | 6,718 | 22,731 |
| Net decrease in cash, cash equivalents and restricted cash | (35,671) | (5,527) |
| Cash, cash equivalents and restricted cash, beginning of period | 63,910 | 82,085 |
| Cash, cash equivalents and restricted cash, end of period | $28,239 | $76,558 |
| Reconciliation of cash, cash equivalents and restricted cash to the | ||
| Condensed Consolidated Balance Sheets | ||
| Cash and cash equivalents | 27,327 | 72,145 |
| Restricted cash | 912 | 4,413 |
| Total cash, cash equivalents and restricted cash | $28,239 | $76,558 |
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