XML 18 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statement of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 12,384,260 $ 5,763,734
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,722,599 4,462,879
(Gain) loss on disposal of property and equipment (279,242) (27,180)
Non-cash compensation 89,179 (50,976)
Deferred income taxes (91,234) (490,619)
Changes in operating assets and liabilities    
Trade accounts receivable (34,847,890) (10,164,015)
Cost and estimated earnings in excess of billings on uncompleted contracts 1,846,409 1,751,614
Prepaid expenses and other 680,869 1,037,022
Prepaid federal and state income tax 78,268 1,225,867
Other assets (3,153) (1,674)
Trade accounts payable 3,712,864 1,744,463
Accrued liabilities 2,160,206 1,486,300
Billings in excess of cost and estimated earnings on uncompleted contracts 3,386,306 320,751
Income taxes payable 4,786,372 2,026,039
NET CASH (USED IN) PROVIDED BY OPERATING ACTIVITIES (374,187) 9,084,205
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (2,837,982) (4,623,531)
Proceeds from sale of property and equipment 328,049 55,344
NET CASH USED IN INVESTING ACTIVITIES (2,509,933) (4,568,187)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on notes payable (2,095,986) (1,932,601)
Principal payments on capital lease obligations (406,825) (289,213)
Proceeds from exercise of stock options 140,538 105,288
NET CASH USED IN FINANCING ACTIVITIES (2,362,273) (2,116,526)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (5,246,393) 2,399,492
Effect of exchange rates on cash 162,573 (6,371)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 15,745,559 13,072,503
CASH AND CASH EQUIVALENTS AT END OF PERIOD 10,661,739 15,465,624
Supplemental cash flow information    
Interest paid 242,345 190,840
Income taxes paid 3,074,747 298,323
Noncash investing and financing activities    
Capital lease obligations incurred 874,651 421,493
Financed equipment purchase 7,701,800  
Financed insurance premiums 156,723 153,938
Restricted stock awards to employees 46,020  
Treasury shares issued for stock options exercised $ 341,533