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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 1,025 $ 4,597
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,908 2,181
Stock-based compensation 1,268 868
Non-cash interest and debt amortization 1,326  
Amortization of step-up in inventory basis (436)  
Change in inventory reserve 47 197
Deferred taxes 360 0
Other 84 64
Cash provided by changes in operating assets and liabilities    
Accounts receivable, net 4,251 (587)
Inventories, net (1,194) 86
Prepaid expenses and other assets (1,982) (2,579)
Accounts payable (913) 50
Accrued liabilities and taxes payable (4,377) (4,272)
Unearned revenues (1,299) 119
Net cash provided by operating activities 2,068 724
Cash flows from investing activities:    
Acquisitions 0 (2,555)
Purchases of property, plant and equipment (216) (226)
Net cash (used in) investing activities (216) (2,781)
Cash flows from financing activities:    
Proceeds from the issuance of common stock, net 145,935  
Payments of debt 0 (3,000)
Dividends (704) (624)
Proceeds from the exercise of stock options 1,654 2,709
Net cash provided by (used in) financing activities 146,885 (915)
Effect of exchange rate changes on cash and cash equivalents 834 102
Net increase (decrease) in cash and cash equivalents 149,571 (2,870)
Cash and cash equivalents at beginning of period 81,380 10,185
Cash and cash equivalents at end of period $ 230,951 $ 7,315