v3.20.4
Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities:      
Net (loss) income $ (5,171) $ 37,024 $ 35,080
  Adjustments to reconcile net income to net cash provided by operating     activities:      
Depreciation and amortization 24,135 26,927 25,224
Deferred taxes 106 (505) (1,371)
Stock-based compensation 2,858 3,264 3,027
Loss on sale of a business entity and certain assets 8,214 0
Gain on sale of property and equipment (1,051) 0 0
Goodwill and intangible asset impairment 33,734 0 0
Gain on sale of contract 0 0 (1,700)
Earn-out obligation fair value adjustment (4,999) 1,900 0
Changes in operating assets and liabilities, net of impact of acquisitions:      
Receivables 7,732 (3,331) (3,754)
Unbilled receivables 19,694 (4,593) 4,706
Inventories (50,172) (44,219) (35,558)
Other current assets and noncurrent assets (1,722) (7,405) 4,789
Accounts payable and deferred compensation 3,503 7,725 (7,405)
Accrued expenses and other current liabilities (1,183) 1,207 (2,515)
Long-term lease obligations 0 0 (1,668)
Other long-term liabilities 83 0 0
Net cash provided by operating activities 35,761 17,994 18,855
Cash flows from investing activities:      
Purchases of property and equipment (4,427) (9,630) (3,117)
Proceeds from the sale of property and equipment 2,875 4 122
Proceeds from sale of a business entity and certain assets 21,771 0 0
Proceeds from the sale of contract 0 0 1,700
Cash paid for acquisitions, net of cash acquired 0 (113,181) 0
Net cash provided by (used in) investing activities 20,219 (122,807) (1,295)
Cash flows from financing activities:      
Borrowings on loan agreement 432,999 752,259 539,471
Repayments on loan agreement (452,338) (642,193) (550,436)
Earn-out obligation payments (31,701) 0 0
Payment of debt financing costs (636) 0 (1,702)
Payments on financing lease obligations 0 0  
Payments on financing lease obligations     (1,452)
Payment of taxes for equity transactions (690) (955) (641)
Dividends paid (3,970) (3,726) (3,262)
Net cash (used in) provided by financing activities (56,336) 105,385 (18,022)
Net (decrease) increase in cash and cash equivalents (356) 572 (462)
Cash and cash equivalents at beginning of year 734 162 624
Cash and cash equivalents at end of year 378 734 162
Supplemental cash flow disclosures:      
Cash paid for interest 13,936 13,468 7,523
Cash paid for income taxes 4,759 11,645 9,534
Supplemental disclosure of noncash investing and financing activities:      
Notes receivable from the sale of a business entity and certain assets $ 12,852 $ 0 $ 0

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