Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statement of Cash Flows

v3.7.0.1
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 714 $ 2,644
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,652 4,230
Amortization of deferred debt issuance costs 89 102
Stock compensation expense 785 906
Deferred income taxes (674) (833)
Other 319 (108)
Changes in operating assets and liabilities:    
Accounts receivable 13,032 1,334
Inventories (4,057) (411)
Costs and estimated earnings in excess of billings on uncompleted contracts (1,562) (766)
Other current and noncurrent assets (1,284) (2,787)
Accounts payable (2,442) (4,557)
Accrued liabilities and noncurrent liabilities (2,382) (4,312)
Income taxes payable and receivable (1,689) (2,476)
Net cash provided by (used in) operating activities 5,501 (7,034)
Investing activities    
Purchases of property, plant and equipment (1,805) (2,009)
Sale of rental equipment at net book value 4 20
Proceeds from sale of property, plant and equipment 8 441
Purchases of investments (4,095) 0
Proceeds from the sale of investments 35,373 0
Net cash provided by (used in) investing activities 29,485 (1,548)
Financing activities    
Payments on long term debt (5,063) (3,375)
Proceeds from exercise of stock options 82 67
Repurchase of employee stock units on vesting (163) (122)
Benefit from excess tax deduction from option exercises (54) 0
Lease financing (70) (68)
Net cash used in financing activities (5,268) (3,498)
Effect of exchange rate changes on cash and cash equivalents 2,017 68
Change in cash and cash equivalents 31,735 (12,012)
Cash and cash equivalents at beginning of period 42,842 84,570
Cash and cash equivalents at end of period $ 74,577 $ 72,558