Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income $ 8,511 $ 10,938
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,563 4,439
Amortization of deferred debt issuance costs 131 86
Impairment of property, plant, and equipment 0 (22)
Stock compensation expense 1,065 1,238
Deferred income taxes (721) (753)
Remeasurement (gain)/loss on intercompany balances 299 (389)
Changes in operating assets and liabilities:    
Accounts receivable 7,404 7,043
Inventories (3,954) (10,652)
Contract assets and liabilities (3,606) (5,596)
Other current and non-current assets 650 (1,256)
Accounts payable (201) 1,000
Accrued liabilities and non-current liabilities (1,959) (6,546)
Income taxes payable and receivable (523) 1,338
Net cash provided by operating activities 12,659 868
Investing activities    
Purchases of property, plant and equipment (3,923) (2,801)
Sale of rental equipment 19 12
Net cash used in investing activities (3,904) (2,789)
Financing activities    
Proceeds from revolving credit facility 0 8,000
Payments on long-term debt (3,375) (7,765)
Repurchase of employee stock units on vesting (2,995) (1,685)
Repurchase of shares under authorized program (1,579) 0
Payments on finance leases (53) (403)
Net cash used in financing activities (8,002) (1,853)
Less: Net change in cash balances classified as assets held-for-sale 0 1,012
Effect of exchange rate changes on cash, cash equivalents and restricted cash (543) 271
Change in cash, cash equivalents and restricted cash 210 (2,491)
Cash, cash equivalents and restricted cash at beginning of period 50,431 38,520
Cash, cash equivalents and restricted cash at end of period $ 50,641 $ 36,029