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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2021
Sep. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Mar. 31, 2021
Mar. 31, 2020
Jun. 30, 2020
Operating activities:              
Net income $ 35,135 $ 22,038 $ 23,866 $ 16,682 $ 79,320 $ 58,146  
Adjustments to reconcile net income to net cash provided by operating activities:              
Non-cash compensation expense         4,060 2,306  
Non-cash compensation to directors         627 621  
Depreciation 4,130   2,938   11,215 9,040  
Amortization         5,142 4,622  
Deferred income taxes         6,032 7,876  
Adjustment for change in estimated tax rate         0 (1,650)  
Other items, net         1,434 1,731  
Change in operating assets and liabilities (excluding effects of acquisition):              
Trade receivables         (19,922) 6,217  
Inventories         (34,453) (21,601)  
Prepaid expenses and other assets         (1,623) (213)  
Accounts payable         20,873 8,717  
Income taxes payable         4,805 (2,122)  
Accrued expenses         23,473 2,192  
Other liabilities         (614) (1,701)  
Net cash provided by operating activities         100,369 74,181  
Investing activities:              
Purchases of property, plant and equipment         (19,117) (30,143)  
Payment for acquisition, net of cash acquired         (150,427) 0  
Net cash used in investing activities         (169,544) (30,143)  
Financing activities:              
Proceeds from long-term borrowings         25,000 0  
Proceeds from revolving credit facility         65,000 103,800  
Principal payments on long-term borrowings         (313) 0  
Payments on revolving credit facility         (8,800) (25,000)  
Payment of deferred financing costs         (638) 0  
Proceeds received from exercise of stock options         375 377  
Cash paid for withholding taxes on vested restricted stock         (1,208) (831)  
Distributions to LLC Unit holders         (1,048) (1,415)  
Repurchase and retirement of common stock         0 (13,833)  
Net cash provided by financing activities         78,368 63,098  
Effect of exchange rate changes on cash         13 (366)  
Changes in cash         9,206 106,770  
Cash—Beginning of period   $ 33,787   $ 27,392 33,787 27,392 $ 27,392
Cash—End of period $ 42,993   $ 134,162   42,993 134,162 $ 33,787
Supplemental cash flow information:              
Cash paid for interest         1,433 2,964  
Cash paid for income taxes         $ 12,599 $ 10,323