XML 17 R7.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income (loss) $ (2,883) $ 274
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Deferred income tax provision (benefit) (56)  
Equity income (loss) from foreign joint ventures’ operations 195 (116)
Depreciation and amortization 221 237
Stock based compensation 165 127
Bad debt expense 69 15
Obsolete inventory expense 18 18
Deferred compensation costs (11) 4
Change in operating assets and liabilities:    
Accounts receivable 2,339 (582)
Inventories 343 (377)
Costs and estimated earnings in excess of billings on uncompleted contracts (1,704) (641)
Prepaid expenses and other current assets (99) (74)
Accounts payable (485) 473
Billings in excess of costs and estimated earnings on uncompleted contracts 660 191
Accrued liabilities and other current liabilities (408) (14)
Net cash provided by (used in) operating activities (1,636) (465)
Cash flows from investing activities:    
Purchases of property, plant and equipment and other assets (113) (307)
Net cash provided by (used in) from investing activities (113) (307)
Cash flows from financing activities:    
Proceeds from sale of common stock, preferred stock, and warrants 4 8
Treasury stocks purchase (36) (70)
Preferred stock cash dividend (75) (75)
Proceeds from long-term notes payable   4,000
Advances from revolving credit facility (repayments) 957 (4,000)
Payments on long-term notes payable   (22)
Net cash provided by (used in) financing activities 850 (159)
Effect of exchange rate on cash 19  
Net increase (decrease) in cash and cash equivalents (880) (931)
Cash and cash equivalents, beginning of period 7,989 3,550
Cash and cash equivalents, end of period 7,109 2,619
Supplemental disclosures of cash flow information:    
Interest paid $ 41 $ 32