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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) $ 27,902 [1] $ 20,312 [2] $ (10,163)
Loss on discontinued operations (1,771)
Income (loss) from continuing operations 27,902 20,312 (8,392)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by (used in) operating activities:      
Bargain purchase gain (20,080)
Depreciation and finance lease amortization 12,391 8,767 6,060
Gain on sale of facilities (2,960)
Amortization of intangible assets 322 550 495
Provision for doubtful accounts 290 429 638
Deferred income taxes 4,169 (3,847) (341)
Gain on insurance proceeds (1,641)
Share-based compensation expense 1,709 281 1,200
Other, net 566 236 234
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:      
Trade and other receivables (6,134) 2,220 (4,073)
Contract assets, net (5,680) (17,809) (278)
Inventories 8,649 (13,628) 1,543
Prepaid expenses and other assets 2,454 2,910 (215)
Accounts payable (4,675) 6,592 2,128
Accrued and other liabilities 2,564 (2,373) (4,792)
Net cash provided by (used in) operating activities from continuing operations 42,886 (18,400) (5,793)
Net cash used in operating activities from discontinued operations (1,727)
Net cash provided by (used in) operating activities 42,886 (18,400) (7,520)
Cash flows from investing activities:      
Acquisition of business, net of cash acquired (37,223)
Additions to property and equipment (8,585) (3,797) (2,851)
Proceeds from sale of facilities 8,515
Proceeds from sale of property and equipment 39 141 146
Proceeds from insurance 2,123
Net cash used in investing activities from continuing operations (6,423) (32,364) (2,705)
Net cash provided by investing activities from discontinued operations 4,465 32,505
Net cash provided by (used in) investing activities (6,423) (27,899) 29,800
Cash flows from financing activities:      
Borrowings on line of credit 41,744 29,904
Repayments on line of credit (53,208) (18,440)
Tax withholdings related to net share settlements of restricted stock and performance share awards (1,301) (24)
Payments of debt issuance costs (228) (435)
Payments on finance lease liabilities (434) (398) (327)
Payments of contingent consideration (112)
Net cash provided by (used in) financing activities (12,126) 9,330 (463)
Change in cash and cash equivalents 24,337 (36,969) 21,817
Cash and cash equivalents, beginning of period 6,677 43,646 21,829
Cash and cash equivalents, end of period 31,014 6,677 43,646
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest, net of amounts capitalized 369 330 258
Cash paid (received) during the period for income taxes (net of refunds of $286, $1 and $213) (55) 170 (153)
Noncash investing and financing activities:      
Accrued property and equipment purchases 719 336 184
Right-of-use assets obtained in exchange for operating lease liabilities 1,335
Right-of-use assets obtained in exchange for finance lease liabilities 819 599 455
Proceeds from sale of facility placed in escrow $ 4,465
[1] Net income for the third quarter of 2019 includes $2.3 million of proceeds related to a legal settlement involving certain pipe produced at the Company's former Houston, Texas and Bossier City, Louisiana facilities and gain on insurance proceeds of $0.4 million resulting from the fire at the Company's Saginaw, Texas facility. Net income for the fourth quarter of 2019 includes gain on insurance proceeds of $1.2 million resulting from the fire at the Company's Saginaw, Texas facility.
[2] Net income for the third quarter of 2018 includes a preliminary bargain purchase gain of $21.9 million. Net income for the fourth quarter of 2018 includes a measurement period adjustment of $1.8 million to decrease the bargain purchase gain.