XML 17 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities:    
Net income $ 16,205 $ 15,608
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash compensation expense 1,464 1,131
Depreciation 2,449 1,791
Amortization of intangible assets 1,637 1,912
Gain on sale-leaseback transaction (9) (11)
Amortization of deferred financing costs 184 9
Change in fair value of interest rate swap 685 0
Deferred income taxes 3,664 5,006
Litigation settlement 0 (20,000)
Gain (Loss) on Disposition of Property Plant Equipment (28) 0
Change in operating assets and liabilities:    
Trade receivables (7,017) (4,588)
Inventories (3,602) (4,113)
Prepaid expenses and other assets (1,204) 541
Accounts payable 9,514 6,602
Accrued expenses and other liabilities (1,648) (1,153)
Net cash provided by operating activities 22,294 2,735
Investing activities:    
Purchases of property and equipment (5,430) (4,369)
Proceeds from Sale of Property, Plant, and Equipment 78 0
Payment for acquisition, net of cash acquired 0 (11,663)
Net cash used in investing activities (5,352) (16,032)
Financing activities:    
Principal payments on long-term borrowings (4,500) (10,000)
Proceeds from long-term borrowings 0 20,000
Payment of deferred financing costs 0 (78)
Proceeds from issuance of Class A Common Stock in offerings, net of underwriting discounts 0 76,836
Purchase of units from existing LLC Unit holders 0 (76,836)
Payments of costs directly associated with offerings 0 (899)
Distributions to LLC Unit holders (911) (742)
Payments for Repurchase of Common Stock (807) 0
Net cash (used in) provided by financing activities (6,218) 8,281
Effect of exchange rate changes on cash (43) 128
Changes in cash 10,681 (4,888)
Cash—Beginning of period 8,387 12,173
Cash—End of period 19,068 7,285
Supplemental cash flow information:    
Cash paid for interest 2,436 238
Cash paid for income taxes 6,199 323
Non-cash investing and financing activities:    
Establishment of deferred tax assets from step-up in tax basis 142 38,499
Establishment of amounts payable under tax receivable agreements 118 34,028
Equity issued as consideration for acquisition 0 2,924
Exchange of LLC Units by LLC Unit holders for Class A common stock 39 0
Tax distributions payable to non-controlling LLC Unit holders 434 915
Equity issued to directors for services 688 189
Capital expenditures in accounts payable $ 35 $ 0