Xplore Technologies Reports Fiscal First Quarter 2017 Results

XPLORE TECHNOLOGIES CORP.
Consolidated Statements of Cash Flows—Unaudited
(in thousands)
 
    Three Months Ended
June 30,
   
    2016    2015    
              
CASH FLOWS FROM OPERATING ACTIVITIES:       
Cash (used in) provided by operations:       
Net loss $(1,747) $(244) 
Items not affecting cash:       
Depreciation and amortization 348  358  
Provision for doubtful accounts 15  (84) 
Stock-based compensation expense 175  607  
        
Changes in operating assets and liabilities:       
Accounts receivable 4,270  (4,151) 
Inventory (6,272) (1,932) 
Prepaid expenses and other current assets 425  11  
Accounts payable and accrued liabilities (3,820) 1788  
Net cash used in operating activities (6,606) (3,647) 
        
CASH FLOWS FROM INVESTING ACTIVITIES:       
Net cash received in purchase transaction   653  
Change in liabilities assumed in purchase of business (287)   
Additions to fixed assets (407) (237) 
Net cash provided by (used in) investing activities (694) 416  
        
CASH FLOWS FROM FINANCING ACTIVITIES:       
Proceeds from short-term borrowings 11,600  5,000  
Repayment of short-term indebtedness (5,476) (10,233) 
Net proceeds from issuance of Common Stock      26    
Net cash provided by (used in) financing activities   6,124     (5,207 )  
               
CHANGE IN CASH AND CASH EQUIVALENTS   (1,176 )   (8,438 )  
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD   5,594     19,455    
CASH AND CASH EQUIVALENTS, END OF PERIOD   $ 4,418     $ 11,017    
                   
NONCASH INVESTING AND FINANCING ACTIVITIES:              
Net assets acquired with debt in purchase transaction   $     $ 9,079    
               
SUPPLEMENTAL DISCLOSURE OF CASH FLOWS:              
Payments for interest   $ 8     $ 6    
Payments for income taxes   $ 80     $    
                   



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