Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income $ 18,005 $ 25,668
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,137 8,802
Amortization of deferred debt issuance costs 250 174
Stock compensation expense 2,576 2,688
Deferred income taxes (1,507) (1,562)
Reserve for uncertain tax positions, net 0 39
Remeasurement (gain)/loss on intercompany balances 327 (226)
Changes in operating assets and liabilities:    
Accounts receivable 13,097 (4,157)
Inventories (6,985) (11,569)
Contract assets and liabilities (6,277) (12,103)
Other current and non-current assets (5,230) (3,023)
Accounts payable (685) 7,536
Accrued liabilities and non-current liabilities (2,338) (7,607)
Income taxes payable and receivable (1,149) (400)
Net cash provided by operating activities 21,221 4,260
Investing activities    
Purchases of property, plant and equipment (5,785) (5,608)
Sale of rental equipment 36 34
Net cash used in investing activities (5,749) (5,574)
Financing activities    
Proceeds from revolving credit facility 0 13,000
Payments on long-term debt (6,750) (15,381)
Repurchase of employee stock units on vesting (3,012) (1,715)
Repurchase of shares under authorized program (3,838) 0
Payments on finance leases (59) (500)
Net cash used in financing activities (13,659) (4,596)
Less: Net change in cash balances classified as assets held-for-sale 0 905
Effect of exchange rate changes on cash, cash equivalents and restricted cash 454 (583)
Change in cash, cash equivalents and restricted cash 2,267 (5,588)
Cash, cash equivalents and restricted cash at beginning of period 50,431 38,520
Cash, cash equivalents and restricted cash at end of period $ 52,698 $ 32,932