XML 19 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Mar. 31, 2018
Cash flows from operating activities:          
Net (loss) income $ (3,102,000) $ (2,527,000) $ (5,084,000) $ 10,888,000  
Adjustments to reconcile net (loss) income to net cash used in operating activities:          
Depreciation     4,313,000 2,805,000  
Amortization of intangible assets 236,000 192,000 620,000 517,000  
Amortization and write-off of debt issuance costs     798,000 864,000  
Amortization of interest on contract liabilities, net     725,000 378,000  
Gain due to change in fair value of the warrant liability     0 (2,313,000)  
Loss on short-term investments 420,000   240,000 0  
Net provision for inventory reserves     6,997,000 4,954,000  
Net provision for customer payment discrepancies     602,000 1,194,000  
Net provision for doubtful accounts     221,000 17,000  
Deferred income taxes     (962,000) (2,430,000)  
Share-based compensation expense     3,151,000 2,658,000  
Loss on disposal of plant and equipment     24,000 9,000  
Changes in operating assets and liabilities, net of effects of acquisitions:          
Accounts receivable     8,432,000 (4,240,000)  
Inventory     (49,431,000) (34,643,000)  
Inventory unreturned     (3,238,000) 332,000  
Income tax receivable     (4,921,000) (69,000)  
Prepaid expenses and other current assets     1,398,000 (33,000)  
Other assets     (129,000) (153,000)  
Accounts payable and accrued liabilities     27,968,000 (15,946,000)  
Customer finished goods returns accrual     1,431,000 (1,705,000)  
Contract assets, net     (4,027,000) (16,208,000)  
Contract liabilities, net     (10,794,000) 41,175,000  
Other liabilities     1,338,000 2,146,000  
Net cash used in operating activities     (20,328,000) (9,803,000)  
Cash flows from investing activities:          
Purchase of plant and equipment     (8,548,000) (4,765,000)  
Purchase of business, net of cash acquired     (4,417,000) (4,993,000)  
Change in short-term investments     (279,000) (287,000)  
Net cash used in investing activities     (13,244,000) (10,045,000)  
Cash flows from financing activities:          
Borrowings under revolving loan     64,900,000 62,000,000  
Repayments of revolving loan     (40,494,000) (37,000,000)  
Borrowings under term loan     13,594,000 0  
Repayments of term loan     (1,719,000) (2,344,000)  
Payments for debt issuance costs     (1,780,000) (462,000)  
Payments on capital lease obligations     (1,071,000) (612,000)  
Exercise of stock options     244,000 295,000  
Cash used to net share settle equity awards     (322,000) (596,000)  
Settlement of warrant     0 4,000,000  
Repurchase of common stock, including fees     (4,062,000) (4,476,000)  
Net cash provided by financing activities     29,290,000 20,805,000  
Effect of exchange rate changes on cash and cash equivalents     (176,000) 46,000  
Net (decrease) increase in cash and cash equivalents     (4,458,000) 1,003,000  
Cash and cash equivalents - Beginning of period     13,049,000 9,029,000 $ 9,029,000
Cash and cash equivalents - End of period $ 8,591,000 $ 10,032,000 8,591,000 10,032,000 $ 13,049,000
Cash paid during the period for:          
Interest, net     14,846,000 9,508,000  
Income taxes, net of refunds     3,263,000 16,598,000  
Non-cash investing and financing activities:          
Plant and equipment acquired under capital lease     207,000 582,000  
Contingent consideration     $ 3,560,000 $ 0