Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net income $ 5,792 $ 6,318
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 9,544 8,754
Amortization of deferred debt issuance costs 174 202
Stock compensation expense 1,732 1,821
Deferred income taxes (1,195) (1,932)
Other 122 (84)
Changes in operating assets and liabilities:    
Accounts receivable 9,433 1,210
Inventories (8,418) 677
Costs and estimated earnings in excess of billings on uncompleted contracts (5,783) (1,461)
Other current and noncurrent assets (3,301) (403)
Accounts payable 3,733 (3,250)
Accrued liabilities and noncurrent liabilities 539 (5,252)
Income taxes payable and receivable 171 (4,380)
Net cash provided by operating activities 12,543 2,220
Investing activities    
Purchases of property, plant and equipment (4,887) (3,814)
Sale of rental equipment at net book value 169 229
Proceeds from sale of property, plant and equipment 8 811
Purchases of investments (8,283) 0
Proceeds from the sale of investments 49,310 0
Net cash provided by (used in) investing activities 36,317 (2,774)
Financing activities    
Proceeds from revolving credit facility 4,000 0
Payments on long term debt and revolving credit facility (14,125) (6,750)
Proceeds from exercise of stock options 106 67
Repurchase of employee stock units on vesting (463) (561)
Lease financing (125) (111)
Net cash used in financing activities (10,607) (7,355)
Effect of exchange rate changes on cash and cash equivalents 2,283 (91)
Change in cash and cash equivalents 40,536 (8,000)
Cash and cash equivalents at beginning of period 42,842 84,570
Cash and cash equivalents at end of period $ 83,378 $ 76,570