XML 33 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities      
Net Income (loss) $ (9,528,330)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ (6,316,041)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 15,671,879us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 19,152,286us-gaap_DepreciationAndAmortization 24,644,190us-gaap_DepreciationAndAmortization 25,502,597us-gaap_DepreciationAndAmortization
Gain on disposal of property and equipment (242,265)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (676,422)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (1,069,766)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Stock-based compensation 688,115us-gaap_ShareBasedCompensation 972,711us-gaap_ShareBasedCompensation 601,059us-gaap_ShareBasedCompensation
Deferred income taxes (5,745,239)us-gaap_DeferredIncomeTaxExpenseBenefit (3,308,713)us-gaap_DeferredIncomeTaxExpenseBenefit 359,535us-gaap_DeferredIncomeTaxExpenseBenefit
Bad debt expense 557,867dwsn_BadDebtExpense    
Changes in operating assets and liabilities      
Trade accounts receivable (9,889,349)us-gaap_IncreaseDecreaseInAccountsReceivable 24,086,780us-gaap_IncreaseDecreaseInAccountsReceivable (16,021,574)us-gaap_IncreaseDecreaseInAccountsReceivable
Cost and estimated earnings in excess of billings on uncompleted contracts 271,933us-gaap_IncreaseDecreaseInUnbilledReceivables 3,950,483us-gaap_IncreaseDecreaseInUnbilledReceivables (1,121,420)us-gaap_IncreaseDecreaseInUnbilledReceivables
Prepaid expenses and other 3,033,527us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 3,230,777us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 2,820,516us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Prepaid federal and state income tax 3,788,568dwsn_IncreaseDecreasePrepaidFederalAndStateIncomeTax (3,777,853)dwsn_IncreaseDecreasePrepaidFederalAndStateIncomeTax 78,268dwsn_IncreaseDecreasePrepaidFederalAndStateIncomeTax
Other assets 12,624us-gaap_IncreaseDecreaseInOtherOperatingAssets 3,755us-gaap_IncreaseDecreaseInOtherOperatingAssets (17,991)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Trade accounts payable 3,800,394us-gaap_IncreaseDecreaseInAccountsPayableTrade (9,439,503)us-gaap_IncreaseDecreaseInAccountsPayableTrade 4,328,707us-gaap_IncreaseDecreaseInAccountsPayableTrade
Accrued liabilities (859,640)us-gaap_IncreaseDecreaseInAccruedLiabilities (2,856,390)us-gaap_IncreaseDecreaseInAccruedLiabilities 2,911,755us-gaap_IncreaseDecreaseInAccruedLiabilities
Billings in excess of cost and estimated earnings on uncompleted contracts 3,797,882us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings (3,068,487)us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings 2,814,863us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings
Federal and state income tax payable 417,002us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (4,475,945)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 2,424,634us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Net cash provided by operating activities 9,255,375us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 22,969,342us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 39,283,062us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities      
Capital expenditures (1,379,395)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (1,848,678)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (31,970,418)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from sale of property and equipment 415,419us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 1,181,180us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 1,704,722us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Net cash used in investing activities (963,976)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (667,498)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (30,265,696)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities      
Principal payments on notes payable (11,657,862)us-gaap_RepaymentsOfNotesPayable (13,342,462)us-gaap_RepaymentsOfNotesPayable (11,338,097)us-gaap_RepaymentsOfNotesPayable
Principal payments on capital lease obligations (1,536,375)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations (2,069,661)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations (2,081,176)us-gaap_RepaymentsOfLongTermCapitalLeaseObligations
Proceeds from exercise of stock options 154,554us-gaap_ProceedsFromStockOptionsExercised 416,390us-gaap_ProceedsFromStockOptionsExercised 377,381us-gaap_ProceedsFromStockOptionsExercised
Payment of dividends   (939)us-gaap_PaymentsOfDividends (3,099,014)us-gaap_PaymentsOfDividends
Net cash used in financing activities (13,039,683)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (14,996,672)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (16,140,906)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net increase (decrease) in cash and cash equivalents (4,748,284)us-gaap_NetCashProvidedByUsedInContinuingOperations 7,305,172us-gaap_NetCashProvidedByUsedInContinuingOperations (7,123,540)us-gaap_NetCashProvidedByUsedInContinuingOperations
Effect of exchange rates on cash (18,939)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations 210,958us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations (7,775)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
Cash and cash equivalents at beginning of year 16,130,374us-gaap_CashAndCashEquivalentsAtCarryingValue 8,614,244us-gaap_CashAndCashEquivalentsAtCarryingValue 15,745,559us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year 11,363,151us-gaap_CashAndCashEquivalentsAtCarryingValue 16,130,374us-gaap_CashAndCashEquivalentsAtCarryingValue 8,614,244us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental cash flow information      
Interest paid 677,718us-gaap_InterestPaid 1,129,581us-gaap_InterestPaid 1,222,454us-gaap_InterestPaid
Income taxes paid (3,052,418)us-gaap_IncomeTaxesPaid 9,474,481us-gaap_IncomeTaxesPaid 7,022,640us-gaap_IncomeTaxesPaid
Noncash investing and financing activities      
Capital lease obligations incurred 479,405us-gaap_CapitalLeaseObligationsIncurred 626,187us-gaap_CapitalLeaseObligationsIncurred 2,935,514us-gaap_CapitalLeaseObligationsIncurred
Financed equipment purchase 6,096,173us-gaap_CapitalExpendituresIncurredButNotYetPaid   22,201,800us-gaap_CapitalExpendituresIncurredButNotYetPaid
Financed insurance premiums 3,171,195dwsn_InsurancePremiumsIncurredButNotPaid 3,237,881dwsn_InsurancePremiumsIncurredButNotPaid 3,050,024dwsn_InsurancePremiumsIncurredButNotPaid
Restricted stock awards to employees, net of cancellations 100,200dwsn_RestrictedStockIssued 25,440dwsn_RestrictedStockIssued 1,334,014dwsn_RestrictedStockIssued
Treasury shares issued for stock options exercised   $ 560,090dwsn_TreasurySharesIssuedForStockOptionsExercised $ 433,615dwsn_TreasurySharesIssuedForStockOptionsExercised