XML 40 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net loss $ (75,555,000) $ (14,424,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Stock-based compensation expense 1,294,000 1,185,000
Depreciation and amortization 5,376,000 5,989,000
Deferred income tax assets (498,000) (1,076,000)
Loss (gain) on disposal of intangible assets and equipment 3,683,000 (2,000)
Amortization of deferred loan costs 195,000 50,000
Impairment of goodwill 18,649,000 0
Right of use asset expenses 668,000 499,000
Changes in operating assets and liabilities:    
Accounts receivable, net 59,819,000 65,302,000
Inventories 50,893,000 (14,229,000)
Prepaid expenses and other current assets 1,397,000 2,327,000
Other assets 187,000 (138,000)
Accounts payable (36,526,000) (28,717,000)
Income tax payable (7,601,000) (2,192,000)
Sales returns liability (13,216,000) (23,287,000)
Accrued wages and wage related expenses 462,000 (1,563,000)
Accrued and other long-term liabilities (2,316,000) (1,608,000)
Lease liabilities (832,000) (465,000)
Other (320,000) 212,000
Net cash provided by (used in) operating activities 5,759,000 (12,137,000)
Cash flows from investing activities:    
Purchase of property and equipment (1,275,000) (2,628,000)
Proceeds from disposal of equipment 0 2,000
Purchase of HALO, net of cash acquired 0 (20,368,000)
Net cash used in investing activities (1,275,000) (22,994,000)
Cash flows from financing activities:    
Proceeds from revolving credit facility 54,124,000 125,932,000
Payments on revolving credit facility (61,724,000) (90,932,000)
Purchase of treasury stock 0 (722,000)
Payment of withholding on restricted stock units (314,000) 0
Proceeds from issuance of stock under employee stock purchase plan 39,000 13,000
Net cash (used in) provided by financing activities (7,875,000) 34,291,000
Effect of foreign currency exchange rates on cash equivalents (260,000) (164,000)
Net decrease in cash and cash equivalents (3,651,000) (1,004,000)
Cash and cash equivalents at beginning of the period 17,801,000 15,793,000
Cash and cash equivalents at end of the period 14,150,000 14,789,000
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 921,000 923,000
Cash refunded during the period for income taxes, net (58,000) (811,000)
Cash paid during the period for rent expenses included in the measurement of lease liabilities 993,000 642,000
Supplemental disclosure of non-cash investing and financing activities:    
Purchase of property and equipment financed through accounts payable 618,000 696,000
Withholding tax on restricted stock units recorded in accrued wages and wage related expenses 0 782,000
Purchase of HALO through amounts due to seller, contingent payments and common stock $ 0 $ 16,985,000