Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v3.3.1.900
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Operating activities    
Net income $ 20,176 $ 38,885
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,971 10,679
Amortization of deferred debt issuance costs 629 350
Stock compensation expense 2,764 2,302
Deferred income taxes (1,658) (5,818)
Other 939 1,496
Changes in operating assets and liabilities:    
Accounts receivable 10,806 (18,223)
Inventories (3,183) (8,952)
Costs and estimated earnings in excess of billings on uncompleted contracts (952) (1,317)
Other current and noncurrent assets (1,627) (1,223)
Accounts payable 954 4,394
Accrued liabilities and noncurrent liabilities (4,266) 5,106
Income taxes payable and receivable (2,505) 6,408
Net cash provided by operating activities 35,048 34,087
Investing activities    
Purchases of property, plant and equipment (9,464) (4,148)
Sale of rental equipment at net book value 1,726 0
Cash paid for acquisitions (net of cash acquired) (31,180) 0
Net cash used in investing activities (38,918) (4,148)
Financing activities    
Proceeds from (Repayments of) Lines of Credit 5,000 0
Payments on long term debt (10,125) (10,125)
Issuance costs associated with revolving line of credit and long term debt (341) (290)
Proceeds from exercise of stock options 204 484
Repurchase of employee stock units on vesting (1,265) 0
Benefit from excess tax deduction from option exercises 133 1,450
Lease financing (148) (156)
Net cash used in financing activities (6,542) (8,637)
Effect of exchange rate changes on cash and cash equivalents (4,261) (3,654)
Change in cash and cash equivalents (14,673) 17,648
Cash and cash equivalents at beginning of period 93,774 72,640
Cash and cash equivalents at end of period $ 79,101 $ 90,288