Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v3.5.0.2
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net income $ 2,644 $ 4,526
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,230 4,012
Amortization of deferred debt issuance costs 102 109
Stock compensation expense 906 875
Deferred income taxes (833) (592)
Other (108) (254)
Changes in operating assets and liabilities:    
Accounts receivable 1,334 7,206
Inventories (411) (1,370)
Costs and estimated earnings in excess of billings on uncompleted contracts (766) 993
Other current and noncurrent assets (2,787) (1,036)
Accounts payable (4,557) (1,457)
Accrued liabilities and noncurrent liabilities (4,312) (5,297)
Income taxes payable and receivable (2,476) (3,736)
Net cash provided by (used in) operating activities (7,034) 3,979
Investing activities    
Purchases of property, plant and equipment (2,009) (3,783)
Sale of rental equipment at net book value 20 0
Proceeds from sale of property, plant and equipment 441 0
Cash paid for acquisitions (net of cash acquired) 0 (10,956)
Net cash used in investing activities (1,548) (14,739)
Financing activities    
Payments on long term debt (3,375) (3,375)
Proceeds from exercise of stock options 67 64
Repurchase of employee stock units on vesting (122) (708)
Lease financing (68) (52)
Net cash used in financing activities (3,498) (4,071)
Effect of exchange rate changes on cash and cash equivalents 68 420
Change in cash and cash equivalents (12,012) (14,411)
Cash and cash equivalents at beginning of period 84,570 93,774
Cash and cash equivalents at end of period $ 72,558 $ 79,363