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
 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities    
Net income $ 6,318 $ 11,507
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,754 8,324
Amortization of deferred debt issuance costs 202 520
Stock compensation expense 1,821 1,874
Deferred income taxes (1,932) (842)
Other (84) 39
Changes in operating assets and liabilities:    
Accounts receivable 1,210 4,423
Inventories 677 (3,526)
Costs and estimated earnings in excess of billings on uncompleted contracts (1,461) 668
Other current and noncurrent assets (403) (1,420)
Accounts payable (3,250) (2,101)
Accrued liabilities and noncurrent liabilities (5,252) (5,186)
Income taxes payable and receivable (4,380) (2,681)
Net cash provided by (used in) operating activities 2,220 11,599
Investing activities    
Purchases of property, plant and equipment (3,814) (7,330)
Sale of rental equipment at net book value 229 664
Proceeds from sale of property, plant and equipment 811 0
Cash paid for acquisitions (net of cash acquired) 0 (31,180)
Net cash used in investing activities (2,774) (37,846)
Financing activities    
Proceeds from revolving credit facility 0 5,000
Payments on long term debt (6,750) (6,750)
Issuance costs associated with revolving line of credit and long term debt 0 341
Proceeds from exercise of stock options 67 181
Repurchase of employee stock units on vesting (561) (1,209)
Benefit from excess tax deduction from option exercises 0 133
Lease financing (111) (110)
Net cash used in financing activities (7,355) (3,096)
Effect of exchange rate changes on cash and cash equivalents (91) (2,759)
Change in cash and cash equivalents (8,000) (32,102)
Cash and cash equivalents at beginning of period 84,570 93,774
Cash and cash equivalents at end of period $ 76,570 $ 61,672