v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net income $ 1,461 $ 3,378
Adjustment to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,885 8,056
Amortization of deferred debt issuance costs 296 318
Amortization of inventory step-up 0 173
Stock compensation expense 1,019 1,004
Deferred income taxes (1,086) 534
Release of reserve for uncertain tax positions (447) 0
Long term cross currency swap 909 (2,368)
Remeasurement loss/(gain) on intercompany balances (1,478) 2,336
Changes in operating assets and liabilities:    
Accounts receivable 7,311 10,206
Inventories (4,069) (7,027)
Contract assets 2,372 (6,827)
Other current and non-current assets (2,492) (3,122)
Accounts payable 394 1,674
Accrued liabilities and non-current liabilities (6,893) (7,082)
Income taxes payable and receivable (783) (5,493)
Net cash provided by (used in) operating activities 3,399 (4,240)
Investing activities    
Purchases of property, plant and equipment (1,726) (2,866)
Sale of rental equipment 126 81
Proceeds from the sale of investments 0 819
Net cash used in investing activities (1,600) (1,966)
Financing activities    
Proceeds from revolving credit facility 10,000 9,549
Payments on long term debt and revolving credit facility (7,494) (4,625)
Proceeds from exercise of stock options 62 81
Repurchase of employee stock units on vesting (784) (398)
Payments on finance leases (27) (62)
Net cash provided by financing activities 1,757 4,545
Effect of exchange rate changes on cash, cash equivalents and restricted cash 397 (1,118)
Cash, cash equivalents and restricted cash at beginning of period 33,841  
Cash, cash equivalents and restricted cash at end of period 37,794 33,548
Change in cash, cash equivalents and restricted cash $ 3,953 $ (2,779)

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