XML 32 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income including noncontrolling interests $ 1,063 $ 2,695
Adjustments to reconcile net income to net cash provided by (used in) operating activities-    
Amortization of identifiable intangible assets 1,604 1,929
Depreciation expense 3,050 2,846
Bad debt expense 33 153
Deferred tax benefit (1,622) (1,122)
Amortization of debt financing costs 65 57
Gain on sale of assets (133) (139)
Changes in the fair value of contingent earn-out obligations (130) 27
Stock-based compensation expense 1,431 927
(Increase) decrease in-    
Receivables, net 7,330 (11,992)
Inventories (393) 37
Prepaid expenses and other current assets 824 194
Costs and estimated earnings in excess of billings (4,443) (7,638)
Other noncurrent assets 182 122
Increase (decrease) in-    
Accounts payable and accrued liabilities (11,169) 147
Billings in excess of costs and estimated earnings (6,181) 1,470
Other long-term liabilities (295) (64)
Net cash used in operating activities (8,784) (10,351)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (3,882) (3,208)
Proceeds from sales of property and equipment 217 177
Proceeds from businesses sold   43
Cash paid for acquisitions, earn-outs and intangible assets, net of cash acquired (4,000)  
Net cash used in investing activities (7,665) (2,988)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings (payments) on revolving line of credit 7,000  
Payments of dividends to shareholders (2,067) (1,853)
Share repurchase program (416) (145)
Excess tax benefit of stock-based compensation (14)  
Proceeds from exercise of options 542 15
Net cash provided by (used in) financing activities 5,045 (1,983)
NET DECREASE IN CASH AND CASH EQUIVALENTS (11,404) (15,322)
CASH AND CASH EQUIVALENTS, beginning of period 52,054 40,757
CASH AND CASH EQUIVALENTS, end of period $ 40,650 $ 25,435