v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Operating activities      
Net income $ 53,515 $ 51,588 $ 33,666
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 22,339 18,837 19,231
Amortization of debt costs 486 489 317
Impairment of property, plant, and equipment 0 0 298
Stock compensation expense 5,244 5,754 5,954
Deferred income taxes (1,081) (2,079) (4,562)
Reserve release for uncertain tax positions (1,046) 84 36
Remeasurement (gain)/loss on intercompany balances 36 (784) (914)
Changes in operating assets and liabilities:      
Accounts receivable (4,220) (540) (2,912)
Inventories (698) 3,778 (8,839)
Contract assets and liabilities (6,655) (101) 4,051
Other current and non-current assets (9,402) (4,935) 57
Accounts payable (1,156) 2,707 (7,119)
Accrued liabilities and non-current liabilities 3,410 (6,355) 11,147
Income taxes payable and receivable 2,346 (2,488) 7,303
Net cash provided by operating activities 63,118 65,955 57,714
Investing activities      
Purchases of property, plant and equipment (10,249) (11,016) (9,453)
Sales of rental equipment 65 99 197
Proceeds from sale of property, plant and equipment 5,759 840 0
Proceeds from disposal of business 0 1,027 0
Cash paid for acquisitions, net of cash acquired (10,545) (100,472) (35,299)
Net cash used in investing activities (14,970) (109,522) (44,555)
Financing activities      
Proceeds from Term Loan A 0 100,000 0
Payments on Term Loan A (28,625) (30,872) (27,180)
Proceeds from revolving credit facility 12,000 18,000 34,500
Payments on revolving credit facility (17,000) (27,500) (20,000)
Issuance costs associated with debt financing 0 (759) 0
Lease financing (58) (28) (142)
Issuance of common stock including exercise of stock options 632 0 0
Repurchase of employee stock units on vesting (3,230) (2,058) (643)
Repurchase of treasury shares under authorized program (20,138) (250) 0
Net cash provided by/ (used in) financing activities (56,419) 56,533 (13,465)
Less: Net change in cash balances classified as assets held-for-sale 0 0 (3,939)
Effect of exchange rate changes on cash and cash equivalents (738) (1,055) (1,166)
Change in cash and cash equivalents (9,009) 11,911 (5,411)
Cash, cash equivalents and restricted cash at beginning of period 50,431 38,520 43,931
Cash, cash equivalents and restricted cash at end of period 41,422 50,431 38,520
Interest paid 10,405 9,178 5,767
Income taxes paid 16,498 23,130 14,933
Income tax refunds received 1,497 2,829 2,361
Purchases of property, plant and equipment in accounts payable $ 311 $ 654 $ 324

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