Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v3.6.0.2
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Operating activities    
Net income $ 11,635 $ 20,176
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,202 12,971
Amortization of deferred debt issuance costs 298 629
Stock compensation expense 2,658 2,764
Deferred income taxes (2,794) (1,658)
Gain on sale of assets 0 0
Other (621) 939
Changes in operating assets and liabilities:    
Accounts receivable (724) 10,806
Inventories 1,177 (3,183)
Costs and estimated earnings in excess of billings on uncompleted contracts 437 (952)
Other current and noncurrent assets (52) (1,627)
Accounts payable (4,168) 954
Accrued liabilities and noncurrent liabilities (6,161) (4,266)
Income taxes payable and receivable (2,432) (2,505)
Net cash provided by operating activities 12,455 35,048
Investing activities    
Purchases of property, plant and equipment (5,426) (9,464)
Sale of rental equipment at net book value 312 1,726
Proceeds from sale of property, plant and equipment 811 0
Cash paid for acquisitions (net of cash acquired) 0 (31,180)
Purchases of investments (36,972) 0
Net cash used in investing activities (41,275) (38,918)
Financing activities    
Proceeds from revolving credit facility 0 5,000
Payments on long term debt (10,125) (10,125)
Issuance costs associated with revolving line of credit and long term debt 0 341
Proceeds from exercise of stock options 129 204
Repurchase of employee stock units on vesting (571) (1,265)
Benefit from excess tax deduction from option exercises 0 133
Lease financing (156) (148)
Net cash used in financing activities (10,723) (6,542)
Effect of exchange rate changes on cash and cash equivalents (3,005) (4,261)
Change in cash and cash equivalents (42,548) (14,673)
Cash and cash equivalents at beginning of period 84,570 93,774
Cash and cash equivalents at end of period $ 42,022 $ 79,101