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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:      
Net income $ 8,947 $ 14,595 $ 10,987
Adjustments to reconcile net income to net cash provided by operating activities:      
Current income taxes 4,937 6,953 5,239
Deferred income taxes (519) (4,319) 4,590
(Gain)/loss on disposal of property, plant and equipment (36) 13 (270)
Depreciation 10,693 12,878 16,149
Amortization of intangible assets 4,258 3,681 3,823
Amortization of deferred commissions 3,566 3,533 3,486
Impairment of long-lived assets 47 8 6
Net interest (income)/expense 510 72 (67)
Stock based compensation expense 1,325 1,273 660
Net foreign exchange loss 648 959 610
Change in allowance for doubtful accounts 2,559 2,961 3,941
Write-down of inventory to net realizable value 790 660 339
Net accrued expenses and other liabilities raised 616 2,535 3,016
Other non-cash items (223) (245) (210)
Changes in operating assets and liabilities:      
Inventories (1,037) (498) (74)
Accounts receivables (8,386) 1,872 (7,309)
Prepaid expenses and other current assets (2,341) (1,589) (45)
Accounts payables 1,340 (2,529) 3,419
Accrued expenses and other liabilities 2,328 959 (7,662)
Deferred commissions (3,399) (2,251) (3,677)
Foreign currency translation adjustments on operating assets and liabilities (32) 2,482 (3,478)
Interest received 404 641 683
Interest paid (400) (311) (204)
Income tax paid (7,193) (5,761) (5,774)
Net cash provided by operating activities 19,402 38,572 28,178
Cash flows from investing activities:      
Proceeds from the sale of property, plant and equipment 60 4 1,294
Acquisition of intangible assets (5,897) (4,024) (5,666)
Loans to external parties 0 0 (344)
Net cash used in investing activities (26,157) (8,650) (19,422)
Cash flows from financing activities:      
Proceeds from issuance of ordinary shares in relation to stock options and SARs exercised 0 879 0
Cash paid for ordinary shares repurchased (3,011) 0 (9,764)
Cash paid on dividends to MiX Telematics stockholders (5,929) (5,359) (5,999)
Movement in short-term debt 3,873 (729) 312
Net cash used in financing activities (5,067) (5,209) (15,451)
Net (decrease)/increase in cash and cash equivalents, and restricted cash (11,822) 24,713 (6,695)
Cash and cash equivalents, and restricted cash at the beginning of the year 46,343 18,652 27,838
Effect of exchange rate changes on cash and cash equivalents, and restricted cash 198 2,978 (2,491)
Cash and cash equivalents, and restricted cash at the end of the year 34,719 46,343 18,652
In-vehicle devices      
Cash flows from investing activities:      
Acquisition of property and equipment (18,335) (4,232) (13,544)
Other      
Cash flows from investing activities:      
Acquisition of property and equipment $ (1,985) $ (398) $ (1,162)