XML 40 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Dec. 31, 2011
Dec. 31, 2010
OPERATING ACTIVITIES    
Net income $ 26,840 $ 2,339
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,233 1,024
Provision for credit losses 369 173
Deferred income taxes 268 (265)
Share-based compensation expense 695 509
Non-cash interest income (1,373) (214)
Non-cash interest expense 517 30
Gain on sale of property, plant and equipment including assets held for sale (63) (10)
Impairment of property, plant and equipment   248
Gain on bargain purchase (22,009)  
Gain on sale of loans (4,285)  
Loss on sale of investments 14  
Changes in operating assets and liabilities:    
Restricted cash (363) 14
Accounts receivable (3,235) 4,971
Consumer loans originated (57,356)  
Principal payments on consumer loans receivable 7,442  
Proceeds from sales of consumer loans 57,979  
Inventories 931 (1,053)
Prepaid expenses and other current assets (2,643) (326)
Inventory finance receivable (3,602) (5,657)
Accounts payable and accrued liabilities 4,298 (4,034)
Net cash provided by (used in) operating activities 8,657 (2,251)
INVESTING ACTIVITIES    
Purchases of property, plant and equipment (2,273) (680)
Proceeds from sale of property, plant and equipment including assets held for sale 3,739 16
Purchase of Palm Harbor assets and certain liabilities, net of cash acquired (67,639)  
Purchases of investments (2,995)  
Proceeds from sale of investments 4,830  
Investment in debtor-in-possession note receivable (6,238) (38,302)
Proceeds from payoff of debtor-in-possession note receivable 45,301  
Net cash used in investing activities (25,275) (38,966)
FINANCING ACTIVITIES    
Proceeds from exercise of stock options 1,463 1,391
Net proceeds from construction lending line 1,625  
Proceeds from issuance of note payable   14,000
Payments on Virgo debt (19,456)  
Payments on securitized financings (8,130)  
Net cash (used in) provided by financing activities (24,498) 15,391
Net decrease in cash and cash equivalents (41,116) (25,826)
Cash and cash equivalents at beginning of period 76,513 74,988
Cash and cash equivalents at end of period 35,397 49,162
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes 3,113 1,445
Cash paid during the period for interest $ 5,138