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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 7,339 $ 4,492
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 3,024 1,095
Amortization of debt issuance costs 213 0
Stock compensation expense 248 278
Change in assets and liabilities:    
Receivables 3,403 1,202
Contract receivables 794 2,999
Inventories (56,371) (5,912)
Other current assets (635) 331
Other assets (21) (267)
Accounts payable 40,296 5,922
Accrued and other liabilities 14,342 (3,570)
Income taxes 1,955 (1,019)
Contract liabilities (794) (2,655)
Net cash provided by operating activities 13,793 2,896
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (1,243) (1,209)
Acquisition of business, net of cash acquired 0 (206,970)
Net cash used in investing activities (1,243) (208,179)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 3,342 80,000
Repayments on revolving credit facility (5,025) (19,500)
Proceeds from term loan 0 130,000
Repayments on term loan (838) 0
Debt issuance costs 0 (4,270)
Proceeds from stock options 145 607
Dividends paid on common stock (1,133) (1,015)
Net cash (used in) provided by financing activities (3,509) 185,822
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 9,041 (19,461)
CASH AND CASH EQUIVALENTS:    
BEGINNING OF PERIOD 5,909 28,353
END OF PERIOD $ 14,950 $ 8,892