Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities    
Net income/(loss) $ 11,407 $ 1,928
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:    
Depreciation and amortization 15,349 15,617
Amortization of deferred debt issuance costs 495 773
Loss on extinguishment of debt 2,569 0
Stock compensation expense 2,699 2,921
Deferred income taxes (878) (2,698)
Reserve for uncertain tax positions, net 58 0
(Gain)/Loss on long-term cross currency swap (1,391) 5,068
Remeasurement (gain)/loss on intercompany balances (556) (6,996)
Loss on sale of business, net of cash surrendered 310 2,045
Changes in operating assets and liabilities:    
Accounts receivable (15,471) 21,028
Inventories (6,137) (10,618)
Contract assets (6,287) (2,148)
Other current and non-current assets (3,293) (2,833)
Accounts payable 15,221 (2,263)
Accrued liabilities and non-current liabilities (824) (991)
Income taxes payable and receivable 475 (5,354)
Net cash provided by/(used in) operating activities 13,746 15,479
Investing activities    
Purchases of property, plant and equipment (2,920) (4,708)
Sale of rental equipment 235 65
Net cash provided by/(used in) in investing activities (2,685) (4,643)
Financing activities    
Proceeds from Term Loan A 140,425 0
Proceeds from revolving credit facility 15,959 37,189
Payments on long-term debt and revolving credit facility (171,862) (44,339)
Issuance costs associated with revolving line of credit and long term debt (1,248) 0
Proceeds from exercise of stock options 97 468
Repurchase of employee stock units on vesting (562) (688)
Payments on finance leases (96) (218)
Net cash provided by/(used in) financing activities (17,287) (7,588)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (821) 3,057
Cash, cash equivalents and restricted cash at beginning of period 42,450 46,006
Cash, cash equivalents and restricted cash at end of period 35,403 52,311
Change in cash, cash equivalents and restricted cash $ (7,047) $ 6,305