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CAPSTONE TURBINE CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Year Ended March 31, 2011 2010 $(67,241) 3,496 83 35 172 1,238 1,336 30 4,626 22,853 (7,765) 6,069 348 4,134 (335) (2,644) (248) (815) (34,628) (2,002) — — (2,002) 3,917 (186) (80) 138 54,089 6,503 64,381 27,751 19,519 47,270 2009 $(41,717) 2,959 10 — 15 786 (944) 7 3,421 — (4,118) (14,355) 144 3,645 368 (1,303) 391 (4,843) (55,534) (6,754) 20 33 (6,701) 3,654 (202) (16) 2,114 29,475 4,124 39,149 (23,086) 42,605 $ 19,519 $ 29 $2 — Cash Flows from Operating Activities: Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(38,470) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization . . . . . . . . . ....................... 3,823 Amortization of deferred financing costs . . ....................... 193 Interest expense on second funding liability ....................... 55 Provision for allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . 231 Inventory write-down . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,123 Provision (benefit) for warranty expenses . . . . . . . . . . . . . . . . . . . . . . . . . 2,089 Loss on disposal of equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 213 Stock-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,418 Change in fair value of warrant liability . . . . . . . . . . . . . . . . . . . . . . . . . . 3,667 Changes in operating assets and liabilities: Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,096) Inventories ............................................. 1,764 Prepaid expenses and other assets . . . . . . . . . . . . Accounts payable and accrued expenses . . . . . . . . Accrued salaries and wages and long term liabilities ................. (910) ................. 4,966 ................. (151) ................. (2,044) ................. 230 ................. — ................. (21,899) Accrued warranty reserve ......... Deferred revenue . . . . . . ......... Other current liabilities . . ......... Net cash used in operating activities Cash Flows from Investing Activities: ......... ......... ......... ......... Acquisition of and deposits on equipment and leasehold improvements . . . . . . (1,047) Proceeds from disposal of equipment . . . .......................... — Changes in restricted cash . . . . . . . . . . .......................... (1,250) Net cash used in investing activities . .......................... (2,297) Cash Flows from Financing Activities: Net (repayment) proceeds from revolving credit facility . . . . . . . . . . . . . . . . (491) Payment of deferred financing costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — Repayment of notes payable and capital lease obligations . . . . . . . . . . . . . . . (448) Net proceeds from employee stock-based transactions . . . . . . . . . . . . . . . . . 39 Net proceeds from issuance of common stock and warrants . . . . . . . . . . . . . . — Proceeds from exercise of common stock warrants . . . . . . . . . . . . . . . . . . . . 11,282 Net cash provided by financing activities . . . . . . . . . . . . . . . . . . . . . . . 10,382 Net increase (decrease) in Cash and Cash Equivalents . . . . . . . . . . . . . . . . . . . (13,814) Cash and Cash Equivalents, Beginning of Year . . . . . . . . . . . . . . . . . . . . . . . . 47,270 Cash and Cash Equivalents, End of Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 33,456 Supplemental Disclosures of Cash Flow Information: Cash paid during the year for: Interest ............................................... $ 624 Income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $— Cash received during the period for income tax refund . . . . . . . . . . . . . . . . . . $ 222 See accompanying notes to consolidated financial statements. F-6 $ $ 540 $80 $ 381PDF Image | 2011 Annual Report Capstone Turbine Corporation
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