XML 22 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 21,072 $ 31,149 $ 11,523
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and finance lease amortization 11,616 12,664 11,482
Amortization of intangible assets 4,190 4,439 2,142
Deferred income taxes (172) 514 180
Gain on insurance proceeds (466) 0 0
Share-based compensation expense 3,672 3,702 3,216
Other, net 1,547 (286) 193
Changes in operating assets and liabilities, net of acquired assets and assumed liabilities:      
Trade and other receivables 23,775 (19,346) 392
Contract assets, net 5,256 225 (33,752)
Inventories (20,200) (11,378) (17,650)
Prepaid expenses and other assets 5,241 3,381 6,727
Accounts payable 4,704 (5,826) 16,783
Accrued and other liabilities (6,780) (1,698) (7,047)
Net cash provided by (used in) operating activities 53,455 17,540 (5,811)
Cash flows from investing activities:      
Acquisition of business, net of cash acquired 0 0 (87,215)
Payment of working capital adjustment in acquisition of business (2,731) 0 0
Purchases of property and equipment (18,291) (22,829) (13,262)
Purchases of intangible assets 0 (327) 0
Proceeds from insurance 431 0 0
Other investing activities 219 106 325
Net cash used in investing activities (20,372) (23,050) (100,152)
Cash flows from financing activities:      
Borrowings on line of credit 155,398 177,634 122,272
Repayments on line of credit (184,609) (180,699) (35,511)
Borrowings on other debt 0 10,756 0
Payments on other debt 0 0 (13,762)
Payments on finance lease liabilities (826) (597) (415)
Tax withholdings related to net share settlements of restricted stock and performance share awards (1,652) (853) (1,166)
Repurchase of common stock (707) 0 0
Other financing activities (300) (47) (385)
Net cash provided by (used in) financing activities (32,696) 6,194 71,033
Change in cash and cash equivalents 387 684 (34,930)
Cash and cash equivalents, beginning of period 3,681 2,997 37,927
Cash and cash equivalents, end of period 4,068 3,681 2,997
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest, net of amounts capitalized 4,660 3,170 339
Cash paid during the period for income taxes, net of refunds of $145, $23, and $79 5,911 13,774 2,481
Noncash investing and financing activities:      
Accrued property and equipment purchases 656 1,314 788
Accrued payment for repurchase of common stock 128 0 0
Accrued consideration in acquisition of business 0 1,820 911
Right-of-use assets obtained in exchange for operating lease liabilities 952 568 16,043
Right-of-use assets obtained in exchange for finance lease liabilities $ 5,270 $ 1,466 $ 853