v3.19.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net income $ 8,382 $ 6,703
Adjustment to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,956 15,826
Amortization of deferred debt issuance costs 870 734
Amortization of inventory step-up 0 172
Stock compensation expense 2,342 2,089
Deferred income taxes (2,343) (2,010)
Release of reserve for uncertain tax positions (462) 0
Long term cross currency swap 798 (634)
Remeasurement loss/(gain) on intercompany balances (147) 1,800
Changes in operating assets and liabilities:    
Accounts receivable 6,313 9,463
Inventories (958) (11,862)
Contract assets 9,054 (6,301)
Other current and non-current assets (4,432) (4,928)
Accounts payable 1,052 252
Accrued liabilities and non-current liabilities (3,542) (4,915)
Income taxes payable and receivable (833) (4,273)
Net cash provided by operating activities 30,050 2,116
Investing activities    
Purchases of property, plant and equipment (3,839) (5,702)
Sale of rental equipment 145 522
Proceeds from sale of property, plant and equipment 0 23
Proceeds from the sale of investments 0 958
Net cash used in investing activities (3,694) (4,199)
Financing activities    
Proceeds from revolving credit facility 10,000 22,009
Payments on long term debt and revolving credit facility (23,131) (17,790)
Purchase of shares from non-controlling interests (4,508) (5,665)
Proceeds from exercise of stock options 62 233
Repurchase of employee stock units on vesting (879) (559)
Payments on finance leases (79) (122)
Net cash used in financing activities (18,535) (1,894)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (121) (1,459)
Cash, cash equivalents and restricted cash at beginning of period 33,841 36,327
Cash, cash equivalents and restricted cash at end of period 41,541 30,891
Change in cash, cash equivalents and restricted cash $ 7,700 $ (5,436)

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