XML 40 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (91) $ (808)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Equity in net income of joint venture (133) 0
Share-based compensation 253 435
Bad debt (credit) expense (55) 3
Depreciation and amortization 841 806
Gain on disposal of property, plant and equipment, net 0 (317)
Inventory obsolescence expense 0 68
Changes in assets and liabilities:    
Accounts receivable, net (4,668) (2,638)
Costs and estimated earnings in excess of billings on uncompleted contracts 2,147 3,163
Prepaid expenses and other current assets 203 194
Other assets 45 126
Inventory, net (18) (38)
Accounts payable and accrued liabilities (727) (172)
Billings in excess of costs and estimated earnings on uncompleted contracts 436 445
Net cash (used in) provided by operating activities (1,767) 1,267
Cash flows from investing activities:    
Purchases of property, plant and equipment (296) (665)
Proceeds from sale of property, plant and equipment 0 906
Cash paid for deposits 0 (47)
Repayments on notes receivable 15 4
Distribution from joint venture 65 0
Net cash (used in) provided by investing activities (216) 198
Cash flows from financing activities:    
Cash paid for purchase of our common stock 0 (126)
Proceeds from bank loans 1,750 2,200
Cash paid for deferred financing costs (25) (37)
Repayments of long-term debt (398) (3,049)
Net cash provided by (used in) financing activities 1,327 (1,012)
Change in cash (656) 453
Cash at beginning of period, net of compensating balance of $3,900 at December 31, 2014 1,412 5,260
Cash at end of period, net of compensating balance of $3,900 at June 30, 2015 756 5,713
Supplemental schedule of significant noncash transactions:    
Common stock surrendered by employees related to payroll taxes on vested restricted stock awards 58 178
Reclassification of equipment from property, plant and equipment to finished goods inventory 0 3,117
Reclassification of land and buildings purchase price from deposits in other assets to property, plant and equipment $ 0 $ 500