XML 18 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities    
Net loss $ (3,761,777) $ (1,604,244)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 14,639,933 19,110,476
Gain on disposal of property and equipment (198,109) (635,265)
Non-cash compensation 544,418 817,391
Deferred income taxes (3,565,623) (2,792,520)
Changes in operating assets and liabilities    
Trade accounts receivable 1,617,495 23,374,057
Cost and estimated earnings in excess of billings on uncompleted contracts (2,307,580) 3,046,174
Prepaid expenses and other 2,053,325 2,105,774
Prepaid federal and state income tax 3,823,925 (1,673,101)
Other assets 5,832 1,769
Trade accounts payable 3,237,349 (9,374,217)
Accrued liabilities 831,063 (2,184,320)
Billings in excess of cost and estimated earnings on uncompleted contracts 1,878,055 (2,741,145)
Income tax payable 911,081 (3,543,613)
Net cash provided by operating activities 19,709,387 23,907,216
Cash flows from investing activities    
Capital expenditures (1,258,607) (1,250,550)
Proceeds from sale of property and equipment 342,618 1,090,607
Net cash used in investing activities (915,989) (159,943)
Cash flows from financing activities    
Principal payments on notes payable (8,528,861) (9,929,954)
Principal payments on capital lease obligations (1,153,137) (1,586,423)
Proceeds from exercise of stock options   395,551
Payment of dividends   (939)
Net cash used in financing activities (9,681,998) (11,121,765)
Net increase in cash and cash equivalents 9,111,400 12,625,508
Effect of exchange rates on cash (177,658) 96,048
Cash and cash equivalents at beginning of year 16,130,374 8,614,244
Cash and cash equivalents at end of year 25,064,116 21,335,800
Supplemental cash flow information    
Interest paid 506,297 903,667
Income taxes paid (3,056,012) 8,167,772
Noncash investing and financing activities    
Capital lease obligations incurred 161,533 368,396
Financed equipment purchase 6,096,173  
Financed insurance premiums 3,045,297 3,064,370
Restricted stock awards to employees 100,200 25,441
Treasury shares issued for stock options exercised   $ 484,866