XML 53 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities:      
Net income $ 31,623 $ 18,688 $ 21,526
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and accretion of asset retirement obligation 26,425 17,159 7,926
Impairment loss 15,542 17,835 0
Amortization of intangible assets 1,398 1,002 0
Asset retirement obligation settlement (2,753) (3,180) 0
(Gain) loss on disposal of assets (42) 321 253
Loss on extinguishment of debt 561 0 0
Provision for bad debt 0 42 0
Amortization of deferred financing cost 212 300 455
Accretion of debt discount 649 246 0
Deferred income taxes 6,123 4,659 (1,805)
Stock-based compensation, net 2,909 2,937 2,012
Employee stock purchase plan compensation 41 72 0
Change in contingent consideration fair value (3,272) (1,858) 0
Changes in assets and liabilities:      
Accounts receivable (41,063) 4,457 (18,038)
Unbilled receivables 3,058 (6,631) (788)
Inventories (1,021) (7,343) 4,407
Prepaid expenses and other assets 1,875 (1,761) (3,394)
Deferred revenue 5,229 4,095 (1,615)
Accounts payable (4,680) (2,271) 9,356
Accrued and other expenses 1,277 2,140 2,391
Income taxes payable 542 0 (7,058)
Net cash provided by operating activities 44,633 50,909 15,628
Investing activities:      
Acquisition of businesses, net of cash acquired 0 (29,921) 0
Purchases of property, plant and equipment (25,525) (96,090) (51,162)
Proceeds from disposal of assets 100 22 14
Net cash used in investing activities (25,425) (125,989) (51,148)
Financing activities:      
Proceeds from the issuance of notes payable 31,202 0 0
Repayments of notes payable (2,808) (559) (282)
Payments under equipment financing obligations (103) (168) (353)
Payment of deferred financing and debt issuance costs (2,262) (233) (193)
Proceeds from revolving credit facility 52,750 84,000 0
Repayment of revolving credit facility (94,750) (39,500) 0
Payment of contingent consideration (1,995) (175) 0
Proceeds from equity issuance 71 127 26,251
Payment of equity transaction costs 0 0 (2,083)
Purchase of treasury stock (140) (2,173) (127)
Net cash (used in) provided by financing activities (18,035) 41,319 23,213
Net increase (decrease) in cash and cash equivalents 1,173 (33,761) (12,307)
Cash and cash equivalents at beginning of year 1,466 35,227 47,534
Cash and cash equivalents at end of year $ 2,639 $ 1,466 $ 35,227