Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net income $ 3,378 $ 714
Adjustment to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 8,056 4,652
Amortization of deferred debt issuance costs 318 89
Amortization of inventory step-up 173 0
Stock compensation expense 1,004 785
Deferred income taxes 534 (674)
Long term cross currency swap (2,368) 0
Remeasurement loss on intercompany balances 2,336 319
Changes in operating assets and liabilities:    
Accounts receivable 10,206 13,032
Inventories (7,027) (4,057)
Contract assets (6,827) (1,562)
Other current and noncurrent assets (3,104) (1,284)
Accounts payable 1,674 (2,442)
Accrued liabilities and noncurrent liabilities (7,082) (2,382)
Income taxes payable and receivable (5,493) (1,689)
Net cash provided by (used in) operating activities (4,222) 5,501
Investing activities    
Purchases of property, plant and equipment (2,866) (1,805)
Sale of rental equipment at net book value 81 4
Proceeds from sale of property, plant and equipment 0 8
Purchases of investments 0 (4,095)
Proceeds from the sale of investments 819 35,373
Net cash provided by (used in) investing activities (1,966) 29,485
Financing activities    
Proceeds from revolving credit facility 9,549 0
Payments on long term debt and revolving credit facility (4,625) (5,063)
Proceeds from exercise of stock options 81 82
Repurchase of employee stock units on vesting (398) (163)
Benefit from excess tax deduction from option exercises 0 (54)
Lease financing (62) (70)
Net cash provided by (used in) financing activities 4,545 (5,268)
Effect of exchange rate changes on cash and cash equivalents (1,118) 2,017
Change in cash and cash equivalents (2,761) $ 31,735
Cash and cash equivalents at beginning of period 31,118  
Cash and cash equivalents at end of period $ 31,118