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v3.10.0.1

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended
--- | ---
Sep. 30, 2018 | Sep. 30, 2017
Cash flows from operating activities: |  |
Net income | $ 25,837 | $ 21,739
Adjustments to reconcile net income to net cash provided by operating activities: |  |
Depreciation and amortization | 18,984 | 19,584
Deferred taxes | (1,733) | (1,947)
Stock-based compensation | 2,146 | 1,935
Gain on sale of contract | (1,700) | 0
Changes in operating assets and liabilities: |  |
Receivables, net | 738 | 16,154
Unbilled receivables, net | 11,298 | 12,190
Inventories, net | (36,448) | 815
Other current assets and noncurrent assets | 3,518 | (3,392)
Accounts payable and deferred compensation | (14,972) | (42,441)
Accrued expenses and other current liabilities | (3,010) | 15,916
Long-term lease obligations | (1,237) | (1,042)
Net cash provided by operating activities | 3,421 | 39,511
Cash flows from investing activities: |  |
Purchases of property and equipment | (2,522) | (2,387)
Proceeds from the sale of property and equipment | 51 | 689
Proceeds from the sale of contract | 1,700 | 0
Net cash used in investing activities | (771) | (1,698)
Cash flows from financing activities: |  |
Borrowings on loan agreement | 468,949 | 258,657
Repayments on loan agreement | (465,521) | (292,913)
Payment of debt financing costs | (1,702) | 0
Payments on capital lease obligations | (1,077) | (954)
Payments of taxes for equity transactions | (641) | (500)
Dividends paid | (2,393) | (2,059)
Net cash used in financing activities | (2,385) | (37,769)
Net increase in cash and cash equivalents | 265 | 44
Cash and cash equivalents at beginning of period | 624 | 428
Cash and cash equivalents at end of period | $ 889 | $ 472

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