Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating activities    
Net income $ 41,505 $ 25,965
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,075 14,557
Amortization of deferred debt issuance costs 236 230
Impairment of property, plant, and equipment 0 367
Stock compensation expense 4,132 4,438
Deferred income taxes (1,817) (4,186)
Reserve for uncertain tax positions, net 0 36
Remeasurement (gain)/loss on intercompany balances (836) 134
Changes in operating assets and liabilities:    
Accounts receivable (12,305) 1,145
Inventories (5,329) (18,047)
Contract assets and liabilities (3,343) 4,447
Other current and non-current assets (2,914) (695)
Accounts payable (1,793) (4,066)
Accrued liabilities and non-current liabilities (2,103) 1,433
Income taxes payable and receivable 80 5,847
Net cash provided by operating activities 28,588 31,605
Investing activities    
Purchases of property, plant and equipment (7,882) (5,173)
Sale of rental equipment 75 163
Cash paid for acquisitions, net of cash acquired (100,472) (35,299)
Net cash used in investing activities (108,279) (40,309)
Financing activities    
Proceeds from revolving credit facility 18,000 34,500
Payments on revolving credit facility 0 (10,000)
Proceeds from long-term debt 100,000 0
Payments on long-term debt (17,778) (17,121)
Issuance costs associated with revolving line of credit and long term debt (659) 0
Repurchase of employee stock units on vesting (1,880) (588)
Payments on finance leases (145) (62)
Net cash provided by financing activities 97,538 6,729
Less: Net change in cash balances classified as assets held-for-sale 849 0
Effect of exchange rate changes on cash, cash equivalents and restricted cash 51 (754)
Change in cash, cash equivalents and restricted cash 18,747 (2,729)
Cash, cash equivalents and restricted cash at beginning of period 38,520 43,931
Cash, cash equivalents and restricted cash at end of period $ 57,267 $ 41,202