XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 9,810 $ 13,232
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and finance lease amortization 5,642 6,065
Amortization of intangible assets 2,104 2,303
Deferred income taxes 417 299
Share-based compensation expense 2,304 1,308
Other, net 1,325 (14)
Trade and other receivables 7,911 (10,529)
Contract assets, net 8,953 (12,484)
Inventories (13,550) (14,596)
Prepaid expenses and other assets 7,573 5,908
Accounts payable (5) 17,125
Accrued and other liabilities (5,005) 1,552
Net cash provided by operating activities 27,479 10,169
Cash flows from investing activities:    
Purchases of property and equipment (8,414) (8,456)
Payment of working capital adjustment in acquisition of business (2,731) 0
Other investing activities 9 30
Net cash used in investing activities (11,136) (8,426)
Cash flows from financing activities:    
Borrowings on line of credit 72,912 80,908
Repayments on line of credit (86,539) (80,956)
Payments on finance lease obligations (311) (265)
Tax withholdings related to net share settlements of equity awards (1,652) (853)
Other financing activities (282) (31)
Net cash used in financing activities (15,872) (1,197)
Change in cash and cash equivalents 471 546
Cash and cash equivalents, beginning of period 3,681 2,997
Cash and cash equivalents, end of period 4,152 3,543
Noncash investing and financing activities:    
Accrued property and equipment purchases 1,072 1,035
Right-of-use assets obtained in exchange for operating lease liabilities 952 26
Right-of-use assets obtained in exchange for finance lease liabilities $ 2,112 $ 894