Medicure Reports Financial Results for Quarter Ended June 30, 2019

Friday, August 9, 2019 General News
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Condensed Consolidated Interim Statements of Cash Flows(expressed in thousands of Canadian dollars, except per share amounts)(unaudited)

For the six months ended June 30

2019

2018

Cash (used in) provided by:

Operating activities:

Net (loss) income for the period

$

(3,713)

$

2,954

Adjustments for:

Current income tax (recovery) expense

(72)

143

Deferred income tax expense

-

39

Revaluation of holdback receivable

-

(167)

Amortization of property and equipment

251

48

Amortization of intangible assets

426

65

Share?based compensation

172

675

Finance (income) expense, net

(372)

(18)

Unrealized foreign exchange loss (gain)

947

(404)

Change in the following:

Accounts receivable

(1,059)

(6,297)

Inventories

(672)

(2)

Prepaid expenses

(676)

(2,117)

Accounts payable and accrued liabilities

(2,434)

4,821

Interest received, net

1,413

472

Income taxes paid

(507)

(2,041)

Royalties paid

(840)

(713)

Cash flows used in operating activities

(7,136)

(2,542)

Investing activities:

Investment in Sensible Medical

(6,337)

-

Proceeds from Apicore Sale Transaction

-

65,234

Redemptions (purchases) of short-term investments

47,747

(49,894)

Acquisition of property and equipment

(169)

(116)

Acquisition of intangible assets

(7,038)

-

Cash flows from investing activities

34,203

15,224

Financing activities:

Repurchase of common shares under normal course issuer bid

(3,592)

(1,451)

Exercise of stock options

20

256

Cash flows used in financing activities

(3,572)

(1,195)

Foreign exchange (loss) gain on cash held in foreign currency

(1,929)

520

Increase in cash and cash equivalents

21,566

12,007

Cash and cash equivalents, beginning of period

24,139

5,260

Cash and cash equivalents, end of period

$

45,705

$

17,267



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