XML 56 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net (loss) income $ (5,027) $ 4,111
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 749 469
Deferred income taxes   (308)
Equity based compensation expense 675 56
(Decrease) increase in accounts receivable allowances (10) 50
Increase (decrease) in valuation of private placement warrants liability 9,053 (457)
Loss on disposal of assets 2 95
Loss on debt extinguishment 270  
(Increase) decrease in operating assets:    
Accounts receivable 2,428 3,281
Inventories (7,964) (15,782)
Prepaid expenses and other assets (185) (567)
Increase (decrease) in operating liabilities:    
Accounts payable (4,251) 9,714
Accrued liabilities (92) (49)
Income taxes payable (847) 249
Other noncurrent liabilities (7) (53)
Net cash (used in) provided by operating activities (5,206) 809
Cash flows from investing activities    
Purchases of property, plant and equipment (2,617) (1,280)
Net cash used in investing activities (2,617) (1,280)
Cash flows from financing activities    
Decrease in cash overdraft   (3,780)
Initial proceeds/advances from borrowings under revolving line of credit 38,995  
Repayments from/of prior revolving line of credit (38,945)  
Payments on long-term debt and capital lease obligations   (13)
Proceeds from exercise of private placement warrants 2,719  
Cash paid for financing and transaction fees (261) (98)
Net cash provided by financing activities 8,715 1,048
Net change in cash 892 577
Cash at beginning of period 543  
Cash at end of period 1,435 577
Supplemental disclosures of cash flow information    
Cash paid for interest 468 406
Cash paid for income taxes 3,054 2,270
Supplemental disclosure of non-cash transactions    
Unpaid property, plant and equipment 923 925
Fair value of private placement warrants exercised 2,799  
Unpaid financing and transaction fees 208 105
Noncurrent obligation [Member]
   
Cash flows from financing activities    
Initial proceeds/advances from borrowings under revolving line of credit 59,807 26,750
Repayments from/of prior revolving line of credit (53,600) (26,060)
Current obligation [Member]
   
Cash flows from financing activities    
Net change in revolving line of credit - current obligation   $ 4,249