Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net income/(loss) $ 25,965 $ 11,407
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:    
Depreciation and amortization 14,557 15,349
Amortization of deferred debt issuance costs 230 495
Loss on extinguishment of debt 0 2,569
Impairment of property, plant, and equipment 367 0
Stock compensation expense 4,438 2,699
Deferred income taxes (4,186) (878)
Reserve for uncertain tax positions, net 36 58
(Gain)/loss on long-term cross currency swap 0 (1,391)
Remeasurement (gain)/loss on intercompany balances 134 (556)
Loss on sale of business, net of cash surrendered 0 310
Changes in operating assets and liabilities:    
Accounts receivable 1,145 (15,471)
Inventories (18,047) (6,137)
Contract assets 4,447 (6,287)
Other current and non-current assets (695) (3,293)
Accounts payable (4,066) 15,221
Accrued liabilities and non-current liabilities 1,433 (824)
Income taxes payable and receivable 5,847 475
Net cash provided by/(used in) operating activities 31,605 13,746
Investing activities    
Purchases of property, plant and equipment (5,173) (2,920)
Sale of rental equipment 163 235
Cash paid for acquisitions, net of cash acquired (35,299) 0
Net cash provided by/(used in) in investing activities (40,309) (2,685)
Financing activities    
Proceeds from Term Loan A 0 140,425
Proceeds from revolving credit facility 34,500 15,959
Payments on long-term debt and revolving credit facility (27,121) (171,862)
Issuance costs associated with revolving line of credit and long term debt 0 (1,248)
Proceeds from exercise of stock options 0 97
Repurchase of employee stock units on vesting (588) (562)
Payments on finance leases (62) (96)
Net cash provided by/(used in) financing activities 6,729 (17,287)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (754) (821)
Change in cash, cash equivalents and restricted cash (2,729) (7,047)
Cash, cash equivalents and restricted cash at beginning of period 43,931 42,450
Cash, cash equivalents and restricted cash at end of period $ 41,202 $ 35,403