Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v2.4.0.8
Condensed Consolidated Statement of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Operating activities    
Net income (loss) $ 16,217 $ 21,325
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,633 10,306
Amortization of debt costs 4,454 3,124
Stock compensation expense 1,572 869
Deferred income taxes (6,021) (2,975)
Loss on retirement of senior secured notes 15,485 0
Changes in operating assets and liabilities:    
Accounts receivable 7,390 (5,902)
Inventories (5,676) (2,811)
Increase (Decrease) in Billing in Excess of Cost of Earnings (588) (356)
Other current and noncurrent assets 439 371
Accounts payable (1,099) 8,375
Accrued liabilities and noncurrent liabilities (7,734) (6,928)
Income taxes payable and receivable 1,492 746
Net cash provided by operating activities 36,564 26,144
Investing activities    
Purchases of property, plant and equipment (2,438) (5,245)
Cash paid to settle the CHS Transactions (2,055) (203)
Net cash used in investing activities (4,493) (5,448)
Financing activities    
Payments on senior secured notes (118,145) (21,000)
Proceeds from long term debt 135,000 0
Payments on long term debt (10,125) 0
Issuance costs associated with revolving line of credit and long term debt (1,728) (248)
Proceeds from exercise of stock options 2,756 4,571
Benefit from excess tax deduction from option exercises 0 3,369
Premiums paid on redemptions (15,485) (630)
Capital Lease Obligations Incurred (17) 0
Net cash used in financing activities (7,744) (13,938)
Effect of exchange rate changes on cash and cash equivalents (834) 163
Change in cash and cash equivalents 23,493 6,921
Cash and cash equivalents at beginning of period 43,847 21,468
Cash and cash equivalents at end of period $ 67,340 $ 28,389