v3.24.1.1.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Operating activities      
Net income $ 51,588 $ 33,666 $ 20,092
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 18,837 19,231 20,205
Amortization of debt costs 489 317 596
Loss on extinguishment of debt 0 0 2,569
Impairment of property, plant, and equipment 0 298 0
Stock compensation expense 5,754 5,954 3,803
Loss on sale of business, net of cash surrendered 0 0 306
Deferred income taxes (2,079) (4,562) (1,648)
Long-term cross currency swap gain 0 0 (774)
Reserve release for uncertain tax positions 84 36 77
Remeasurement gain on intercompany balances (784) (914) (247)
Changes in operating assets and liabilities:      
Accounts receivable (540) (2,912) (21,739)
Inventories 3,778 (8,839) (8,598)
Contract assets (101) 4,051 (3,292)
Other current and non-current assets (4,935) 57 (2,891)
Accounts payable 2,707 (7,119) 13,752
Accrued liabilities and non-current liabilities (6,355) 11,147 2,227
Income taxes payable and receivable (2,488) 7,303 4,316
Net cash provided by operating activities 65,955 57,714 28,754
Investing activities      
Purchases of property, plant and equipment (11,016) (9,453) (5,220)
Sales of rental equipment 99 197 689
Proceeds from sale of property, plant and equipment 840 0 0
Proceeds from disposal of business 1,027 0 0
Cash paid for acquisitions, net of cash acquired (100,472) (35,299) 0
Net cash used in investing activities (109,522) (44,555) (4,531)
Financing activities      
Proceeds from Term Loan A 100,000 0 139,793
Payments on Term Loan A (30,872) (27,180) (170,780)
Proceeds from revolving credit facility 18,000 34,500 18,459
Payments on revolving credit facility (27,500) (20,000) (8,134)
Issuance costs associated with debt financing (759) 0 (1,265)
Lease financing (28) (142) (155)
Issuance of common stock including exercise of stock options 0 0 97
Repurchase of employee stock units on vesting (2,058) (643) (673)
Repurchase of treasury shares under authorized program (250) 0 0
Net cash provided by/ (used in) financing activities 56,533 (13,465) (22,658)
Less: Net change in cash balances classified as assets held-for-sale 0 (3,939) 0
Effect of exchange rate changes on cash and cash equivalents (1,055) (1,166) (84)
Change in cash and cash equivalents 11,911 (5,411) 1,481
Cash, cash equivalents and restricted cash at beginning of period 38,520 43,931 42,450
Cash, cash equivalents and restricted cash at end of period 50,431 38,520 43,931
Interest paid 9,178 5,767 5,700
Income taxes paid 23,130 14,933 9,788
Income tax refunds received 2,829 2,361 4,059
Purchases of property, plant and equipment in accounts payable $ 654 $ 324 $ 84

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