v3.10.0.1
Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 15,803 $ 15,100
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,723 13,204
Deferred taxes (888) (974)
Stock-based compensation 1,676 1,464
Changes in operating assets and liabilities:    
Receivables, net 1,131 6,412
Unbilled receivables, net 9,604 13,861
Inventories, net (34,352) 528
Other current assets and noncurrent assets 4,227 9,725
Accounts payable and deferred compensation (6,164) (39,511)
Accrued expenses and other current liabilities (6,568) (105)
Long-term lease obligations (816) (667)
Net cash (used in) provided by operating activities (3,624) 19,037
Cash flows from investing activities:    
Purchases of property and equipment (1,880) (1,252)
Proceeds from the sale of property and equipment 46 400
Net cash used in investing activities (1,834) (852)
Cash flows from financing activities:    
Borrowings on loan agreement 359,554 181,673
Repayments on loan agreement (349,534) (197,142)
Payment of debt financing costs (1,692) 0
Payments on capital lease obligations (707) (627)
Payments of taxes for equity transactions (641) (500)
Dividends paid (1,522) (1,300)
Net cash provided by (used in) financing activities 5,458 (17,896)
Net (decrease) increase in cash and cash equivalents 0 289
Cash and cash equivalents at beginning of period 624 428
Cash and cash equivalents at end of period $ 624 $ 717

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