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Unaudited Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | |
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Mar. 31, 2015
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Mar. 31, 2014
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| Cash flows from operating activities: | ||
| Net income | $ 5,220us-gaap_NetIncomeLoss | $ 5,654us-gaap_NetIncomeLoss |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 6,101us-gaap_DepreciationDepletionAndAmortization | 4,795us-gaap_DepreciationDepletionAndAmortization |
| Deferred taxes | (1,313)us-gaap_DeferredIncomeTaxExpenseBenefit | 249us-gaap_DeferredIncomeTaxExpenseBenefit |
| Stock-based compensation | 788us-gaap_ShareBasedCompensation | 1,048us-gaap_ShareBasedCompensation |
| Earn-out obligation adjustment | 310vsec_EarnOutObligationAdjustment | 174vsec_EarnOutObligationAdjustment |
| Changes in operating assets and liabilities, net of impact of acquisition: | ||
| Receivables, net | (9,195)us-gaap_IncreaseDecreaseInAccountsReceivable | 5,451us-gaap_IncreaseDecreaseInAccountsReceivable |
| Inventories | (1,298)us-gaap_IncreaseDecreaseInInventories | (1,110)us-gaap_IncreaseDecreaseInInventories |
| Other current assets and noncurrent assets | (741)us-gaap_IncreaseDecreaseInOtherOperatingAssets | (2,395)us-gaap_IncreaseDecreaseInOtherOperatingAssets |
| Accounts payable and deferred compensation | (1,246)us-gaap_IncreaseDecreaseInAccountsPayable | 2,343us-gaap_IncreaseDecreaseInAccountsPayable |
| Accrued expenses and other current liabilities | 1,074us-gaap_IncreaseDecreaseInAccruedLiabilities | (2,057)us-gaap_IncreaseDecreaseInAccruedLiabilities |
| Long-term lease obligations | (280)vsec_LongTermLeaseObligation | (314)vsec_LongTermLeaseObligation |
| Net cash (used in) provided by operating activities | (580)us-gaap_NetCashProvidedByUsedInOperatingActivities | 13,838us-gaap_NetCashProvidedByUsedInOperatingActivities |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (3,384)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (859)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Proceeds from the sale of property and equipment | 207us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment | 0us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment |
| Cash paid for acquisitions, net of cash acquired | (188,771)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired | 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired |
| Net cash used in investing activities | (191,948)us-gaap_NetCashProvidedByUsedInInvestingActivities | (859)us-gaap_NetCashProvidedByUsedInInvestingActivities |
| Cash flows from financing activities: | ||
| Borrowings on loan arrangement | 300,471us-gaap_ProceedsFromIssuanceOfLongTermDebt | 72,288us-gaap_ProceedsFromIssuanceOfLongTermDebt |
| Repayments on loan arrangement | (104,349)us-gaap_RepaymentsOfLongTermDebt | (84,134)us-gaap_RepaymentsOfLongTermDebt |
| Payment of debt financing costs | (2,280)us-gaap_PaymentsOfFinancingCosts | 0us-gaap_PaymentsOfFinancingCosts |
| Payments on capital lease obligations | (233)vsec_PaymentsOnCapitalLeaseObligations | (201)vsec_PaymentsOnCapitalLeaseObligations |
| Payment of taxes for equity transactions | (341)vsec_PaymentOfTaxesForEquityTransactions | (314)vsec_PaymentOfTaxesForEquityTransactions |
| Dividends paid | (535)us-gaap_PaymentsOfDividendsCommonStock | (481)us-gaap_PaymentsOfDividendsCommonStock |
| Net cash provided by (used in) financing activities | 192,733us-gaap_NetCashProvidedByUsedInFinancingActivities | (12,842)us-gaap_NetCashProvidedByUsedInFinancingActivities |
| Net increase in cash and cash equivalents | 205us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 137us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents at beginning of period | 263us-gaap_CashAndCashEquivalentsAtCarryingValue | 220us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash and cash equivalents at end of period | $ 468us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 357us-gaap_CashAndCashEquivalentsAtCarryingValue |
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earn-out obligation No definition available.
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Long-term lease obligation No definition available.
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The cash outflow of taxes for equity transactions. No definition available.
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The cash outflow of payments on capital lease obligations. No definition available.
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