Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 25,668 $ 17,540
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,802 9,852
Amortization of deferred debt issuance costs 174 152
Stock compensation expense 2,688 2,444
Deferred income taxes (1,562) (1,749)
Reserve for uncertain tax positions, net 39 20
Remeasurement (gain)/loss on intercompany balances (226) 530
Changes in operating assets and liabilities:    
Accounts receivable (4,157) (8,577)
Inventories (11,569) (22,013)
Contract assets and liabilities (12,103) 10,100
Other current and non-current assets (3,023) (3,677)
Accounts payable 7,536 7,369
Accrued liabilities and non-current liabilities (7,607) (2,807)
Income taxes payable and receivable (400) 3,347
Net cash provided by operating activities 4,260 12,531
Investing activities    
Purchases of property, plant and equipment (5,608) (3,614)
Sale of rental equipment 34 103
Cash paid for acquisitions, net of cash acquired 0 (35,299)
Net cash used in investing activities (5,574) (38,810)
Financing activities    
Proceeds from revolving credit facility 13,000 32,000
Payments on revolving credit facility 0 (3,000)
Payments on long-term debt (15,381)  
Repurchase of employee stock units on vesting (1,715) (586)
Payments on finance leases (500) (30)
Net cash provided by/(used in) financing activities (4,596) 17,943
Less: Net change in cash balances classified as assets held-for-sale 905 0
Effect of exchange rate changes on cash, cash equivalents and restricted cash (583) (1,050)
Change in cash, cash equivalents and restricted cash (5,588) (9,386)
Cash, cash equivalents and restricted cash at beginning of period 38,520 43,931
Cash, cash equivalents and restricted cash at end of period $ 32,932 $ 34,545