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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities:    
Net income $ 8,052 $ 13,084
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 12,801 12,535
Deferred income taxes 18 (14)
Stock-based compensation expense 2,284 2,811
Debt issue cost amortization recorded in interest expense 261 150
Other 2,368 685
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables 5,137 (11,151)
Inventories 941 832
Prepaid expenses and other assets (461) 287
Accounts payable (7,884) 2,822
Accrued liabilities (6,140) (4,768)
Net cash provided by operating activities 17,377 17,273
Cash Flows From Investing Activities:    
Consideration paid for acquisitions, net of cash acquired (25,231) (6,250)
Purchase of property and equipment (5,328) (6,118)
Net cash used in investing activities (30,559) (12,368)
Cash Flows From Financing Activities:    
Proceeds from issuance of long-term debt 76,898 4,000
Principal payments of long-term debt and finance lease obligations (56,230) (12,567)
Payment of contingent consideration (2,450)  
Payment of debt issuance costs (2,329)  
Dividends paid to stockholders (1,008) (872)
Tax withholdings related to net share settlements of restricted stock (1,567) (1,653)
Net cash provided by (used in) financing activities 13,314 (11,092)
Effect of foreign exchange rate changes on cash (741) (307)
Net decrease in cash and cash equivalents (609) (6,494)
Cash and cash equivalents at beginning of period 31,901 30,614
Cash and cash equivalents at end of period 31,292 24,120
Supplemental disclosure of cash flow information:    
Stock issued for acquisitions 6,250 6,250
Stock issued to settle contingent consideration 4,874  
Property, plant and equipment purchases in accounts payable or accrued expenses 941 $ 660
Debt issuance costs in accounts payable or accrued expenses $ 164