XML 17 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES    
Net loss $ (5,479) $ (3,832)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 7,062 7,193
Amortization of financing costs 333 313
Deferred rent (37) 503
Deferred income taxes 113  
Stock compensation expense 1,290 1,523
Undistributed equity in (earnings) losses, net 132 (290)
Gain on disposal of fixed assets (17)  
Loss on early retirement of debt 272  
Changes in operating assets and liabilities (excluding the effects of business acquisitions)    
Accounts receivable 7,562 29,752
Inventory (16,357) (16,011)
Prepaid expenses, other current assets and other assets (1,359) (2,351)
Accounts payable, accrued expenses and other liabilities (3,748) (663)
Income taxes receivable (4,311)  
Income taxes payable (5,031) (5,513)
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (19,575) 10,624
INVESTING ACTIVITIES    
Purchases of property and equipment (1,091) (2,881)
Proceeds from disposition of GSI 567  
Acquisitions (614)  
NET CASH USED IN INVESTING ACTIVITIES (1,138) (2,881)
FINANCING ACTIVITIES    
Proceeds from Revolving Credit Facility 120,334 129,229
Repayments of Revolving Credit Facility (79,206) (130,571)
Repayment of Credit Agreement Term Loan (20,500) (5,000)
Proceeds from Short Term Loan   37
Payments on Short Term Loan (117) (688)
Payments for capital leases (32)  
Payments of tax withholding for stock based compensation (65)  
Proceeds from exercise of stock options 1,191 541
Cash dividends paid (Note K) (1,198) (1,033)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 20,407 (7,485)
Effect of foreign exchange on cash (176) (370)
DECREASE IN CASH AND CASH EQUIVALENTS (482) (112)
Cash and cash equivalents at beginning of period 7,131 5,068
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 6,649 $ 4,956