XML 29 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income (loss) $ 17,707 $ (7,121) $ (3,029)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 10,609 13,272 16,088
Unrealized foreign currency (gain) loss (526) 836 (2,103)
Net gain on interest rate swaps (248) (276) (327)
Impairment of property and equipment   300 695
Impairment of intangible assets and goodwill     7,168
Fair value adjustments to earnout liabilities   (330) (6,610)
Earnout payments   (2,862) (7,797)
Loss on sale of property and equipment 78 (217) 130
Loss on divestitures 70 4,390  
Amortization of debt discount 1,060 1,143 1,033
Share based compensation expense 2,668 3,187 1,768
Bad debt expense 295 1,357 3,895
Inventory reserve expense 316 519 240
Deferred income tax benefit (940) (42) (3,123)
Changes in operating assets and liabilities, net of divestitures:      
Accounts receivable (15,616) (6,084) 14,107
Cost and estimated earnings of billings on uncompleted contracts (5,029) (4,557) 6,232
Inventories (207) (1,704) 887
Prepaid expenses and other current assets (7,097) 773 3,530
Deferred charges and other assets 758 (416) 1,585
Accounts payable and accrued expenses (4,028) 21,321 (15,847)
Billings in excess of costs and estimated earnings on uncompleted contracts 14,274 70 (15,186)
Income taxes payable (1,671) 1,839 (1,827)
Other liabilities (2,246) (3,446) 5,061
Net cash provided by operating activities 10,227 21,952 6,570
Cash flows from investing activities:      
Acquisitions of property and equipment (5,655) (3,090) (1,028)
Net cash proceeds from divestitures   35,052  
Net proceeds from sale of assets 509 6,296 368
Net cash (used in) provided by investing activities (5,146) 38,258 (660)
Cash flows from financing activities:      
Net (repayments) borrowings on revolving credit lines (7,647) (3,723) 2,269
Repayments of long-term debt (2,950) (41,356) (11,168)
Deferred financing fees paid (1,117)   (692)
Earnout payments     (7,396)
Proceeds from sale-leaseback transactions   800  
Payments on capital leases and sale-leaseback financing liability (478) (675) (711)
Proceeds from employee stock purchase plan, exercise of stock options, and dividend reinvestment plan 76 54 1,352
Dividends paid to common shareholders     (7,792)
Net cash used in financing activities (12,116) (44,900) (24,138)
Effect of exchange rate changes on cash and cash equivalents (445) (1,531) 881
Net (decrease) increase in cash, cash equivalents and restricted cash (7,480) 13,779 (17,347)
Cash, cash equivalents and restricted cash at beginning of year 44,438 30,659 48,006
Cash, cash equivalents and restricted cash at end of year 36,958 44,438 30,659
Cash paid during the period for:      
Interest 3,549 5,559 5,686
Income taxes $ 5,908 $ 10,205 $ 3,048