Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v3.3.0.814
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating activities    
Net income $ 11,507 $ 23,282
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,324 7,134
Amortization of deferred debt issuance costs 520 237
Stock compensation expense 1,874 1,372
Deferred income taxes (842) (5,124)
Other 39 514
Changes in operating assets and liabilities:    
Accounts receivable 4,423 (13,013)
Inventories (3,526) (4,888)
Costs and estimated earnings in excess of billings on uncompleted contracts 668 (386)
Other current and noncurrent assets (1,420) (1,633)
Accounts payable (2,101) 5,485
Accrued liabilities and noncurrent liabilities (5,186) 2,742
Income taxes payable and receivable (2,681) 1,942
Net cash provided by operating activities 11,599 17,664
Investing activities    
Purchases of property, plant and equipment (6,666) (1,627)
Cash paid for acquisitions (net of cash acquired) (31,180) 0
Net cash used in investing activities (37,846) (1,627)
Financing activities    
Proceeds from (Repayments of) Lines of Credit 5,000 0
Payments on long term debt (6,750) (6,750)
Issuance costs associated with revolving line of credit and long term debt (341) (290)
Proceeds from exercise of stock options 181 456
Repurchase of employee stock units on vesting (1,209) 0
Benefit from excess tax deduction from option exercises 133 1,449
Lease financing (110) (60)
Net cash used in financing activities (3,096) (5,195)
Effect of exchange rate changes on cash and cash equivalents (2,759) (1,353)
Change in cash and cash equivalents (32,102) 9,489
Cash and cash equivalents at beginning of period 93,774 72,640
Cash and cash equivalents at end of period $ 61,672 $ 82,129