Shimmick Corp
For the period ended Sep 27, 2024. Filed Nov 12, 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.
Sep 27, 2024 · Filed Nov 12, 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)
| Nine Months Ended | ||
|---|---|---|
| September 27, | September 29, | |
| 2024 | 2023 | |
| Cash Flows From Operating Activities | ||
| Net (loss) income | $(86,286) | $15,187 |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
| Stock-based compensation | 3,304 | 1,547 |
| Depreciation and amortization | 11,646 | 13,186 |
| Equity in loss (earnings) of unconsolidated joint ventures | 779 | (9,570) |
| Return on investment in unconsolidated joint ventures | 610 | 14,220 |
| ERP pre-implementation asset impairment | 10,428 | - |
| Gain on sale of assets | (20,585) | (31,749) |
| Other | 1,892 | 111 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 663 | (12,012) |
| Contract assets | (2,418) | (10,134) |
| Accounts payable | (12,149) | 24,221 |
| Contract liabilities | (18,157) | (41,797) |
| Accrued salaries, wages and benefits | 2,489 | (2,073) |
| Accrued expenses | 34,165 | (22,042) |
| Other assets and liabilities | 7,436 | (3,871) |
| Net cash used in operating activities | (66,183) | (64,776) |
| Cash Flows From Investing Activities | ||
| Purchases of property, plant and equipment | (9,963) | (6,140) |
| Proceeds from sale of assets | 31,608 | 34,983 |
| Unconsolidated joint venture equity contributions | (3,460) | (19,670) |
| Return of investment in unconsolidated joint ventures | 204 | 3,980 |
| Net cash provided by investing activities | 18,389 | 13,153 |
| Cash Flows From Financing Activities | ||
| Net borrowings on Credit Facility | 42,000 | — |
| Net (repayments of) borrowings on Revolving Credit Facility | (29,619) | 33,722 |
| Other, net | (1,924) | (1,028) |
| Net cash provided by financing activities | 10,457 | 32,694 |
| Net decrease in cash, cash equivalents and restricted cash | (37,337) | (18,929) |
| Cash, cash equivalents and restricted cash, beginning of period | 63,910 | 82,085 |
| Cash, cash equivalents and restricted cash, end of period | $26,573 | $63,156 |
| Reconciliation of cash, cash equivalents and restricted cash to the | ||
| Condensed Consolidated Balance Sheets | ||
| Cash and cash equivalents | $25,962 | $61,862 |
| Restricted cash | 611 | 1,294 |
| Total cash, cash equivalents and restricted cash | $26,573 | $63,156 |
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