XML 13 R4.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 6,350,509 $ (660,099)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,241,426 7,656,931
(Gain) loss on disposal of property and equipment (64,324) 18,333
Non-cash compensation 226,845 273,996
Cash paid in lieu of stock options (165,000)  
Deferred income taxes 120,846 (1,325,874)
Changes in operating assets and liabilities    
Trade accounts receivable 4,692,212 (1,210,786)
Cost and estimated earnings in excess of billings on uncompleted contracts 2,489,520 (1,349,206)
Prepaid expenses and other 1,366,962 328,942
Prepaid federal and state income tax 1,232,568 831,899
Other assets (1,841)  
Trade accounts payable (3,486,326) (1,510,936)
Accrued liabilities 732,220 (103,420)
Billings in excess of cost and estimated earnings on uncompleted contracts 400,418 (1,149,829)
Income taxes payable 1,237,902  
NET CASH PROVIDED BY OPERATING ACTIVITIES 24,373,937 1,799,951
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (11,067,278) (1,185,821)
Proceeds from sale of property and equipment 168,161 45,617
NET CASH USED IN INVESTING ACTIVITIES (10,899,117) (1,140,204)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on notes payable (4,117,298) (3,788,707)
Principal payments on capital lease obligations (620,699) (552,988)
Proceeds from exercise of stock options 108,688  
Payment of dividends   (431)
NET CASH USED IN FINANCING ACTIVITIES (4,629,309) (4,342,126)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 8,845,511 (3,682,379)
EFFECT OF EXCHANGE RATES ON CASH 11,867 (88,561)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 13,072,503 25,504,149
CASH AND CASH EQUIVALENTS AT END OF PERIOD 21,929,881 21,733,209
Supplemental cash flow information    
Interest paid 382,696 429,814
Income taxes paid 903,503 609,561
Noncash investing and financing activities    
Capital lease obligations incurred 1,002,699 954,534
Financed equipment purchase   3,597,813
Financed insurance premiums 2,162,868 2,088,161
Restricted stock awards to employees   $ 20,750