XML 22 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) $ 4,671 $ 8,165 $ (15,223)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 11,616 11,662 10,376
Deferred income taxes (475) 1,097 (873)
Goodwill impairment 0 0 4,100
Mark-to-market of interest rate swap 0 0 67
Share-based compensation 1,886 1,355 1,564
Loss on disposal of assets 571 0 0
Loss on foreign currency 172 237 33
Change in operating assets and liabilities:      
Accounts receivable (8,952) 4,840 13,044
Inventories (6,769) 3,322 4,083
Prepaid and other assets (565) (2,018) 2,587
Accounts payable 5,346 (3,142) (4,849)
Accrued and other liabilities 5,481 2,910 3,420
Post retirement benefits liability (436) (264) (1,628)
Net cash provided by operating activities 12,546 28,164 16,701
Cash flows from investing activities:      
Purchase of property, plant and equipment (11,569) (3,683) (7,460)
Proceeds from sale of property, plant and equipment 154 0 0
Net cash used in investing activities (11,415) (3,683) (7,460)
Cash flows from financing activities:      
Gross borrowings on revolving loans 49,610 56,793 194,414
Gross repayment on revolving loans (45,606) (68,381) (199,782)
Proceeds from term loan 0 30,165 0
Payment of principal of term loan (3,022) (38,725) (3,375)
Payment of deferred loan costs (2) (2,038) (435)
Payments related to the purchase of treasury stock (96) (20) (98)
Net cash provided by (used in) financing activities 884 (22,206) (9,276)
Net change in cash and cash equivalents 2,015 2,275 (35)
Cash and cash equivalents at beginning of year 4,131 1,856 1,891
Cash and cash equivalents at end of year 6,146 4,131 1,856
Cash paid for:      
Interest 1,840 3,854 3,869
Income taxes 5,067 570 1,284
Non Cash:      
Fixed asset purchases in accounts payable $ 329 $ 147 $ 158