XML 44 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,977 $ 9,807
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization of drydock costs 8,863 7,204
Amortization of intangibles and deferred financing costs 1,201 1,074
Deferred income taxes 3,782 1,461
Gain on interest rate swap contracts (542) (91)
Loss on extinguishment of debt (Note 14) 3,339 0
Equity compensation 435 788
Deferred drydock costs paid (3,653) (1,314)
Changes in operating assets and liabilities:    
Accounts receivable 19,182 14,179
Prepaid expenses and other current assets 905 1,443
Accounts payable and accrued liabilities 5,220 848
Other assets and liabilities (375) 180
Income taxes payable (net) (53) 287
Net Cash Provided by (Used in) Operating Activities, Total 4,857 4,262
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (26,825) (13,025)
Purchase of a vessel 0 (3,343)
Net Cash Provided by (Used in) Investing Activities, Total (26,825) (16,368)
CASH FLOWS FROM FINANCING ACTIVITIES    
Deferred payment liability obligation (211) (188)
Proceeds from equity offering 0 15,400
Proceeds from long-term debt 15,298 3,153
Long-term debt repayment (2,792) (3,200)
Debt financing cost (2,115) (2,531)
Proceeds from bank indebtedness 24,015 22,027
Repayments of Lines of Credit (12,069) (21,427)
Net Cash Provided by (Used in) Financing Activities, Total 22,126 13,234
EFFECT OF FOREIGN EXCHANGE RATES ON CASH (12) (593)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS 146 535
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 5,563 4,508
CASH AND CASH EQUIVALENTS, END OF PERIOD 5,709 5,043
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for interest 4,932 4,259
Unpaid purchases of property and equipment 3,351 2,744
Unpaid purchases of deferred drydock cost 74 7
Payment of income taxes 53 12
Capitalized interest $ 538 $ 172