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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 01, 2023
Apr. 02, 2022
Cash flows from operating activities:    
Net income $ 34,427 $ 23,826
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 8,890 8,470
Amortization 6,793 8,043
Provision for credit losses 1,724 1,408
Stock-based compensation expense 2,207 2,205
Amortization of deferred financing costs 326 304
(Gain) loss on sales of assets (204) 747
Change in operating assets and liabilities:    
Accounts receivable (3,179) (39,357)
Inventories (2,573) (6,286)
Contract assets, net, prepaid expenses, other current and other assets 2,148 10,669
Accounts payable, accrued and other liabilities (26,641) 7,291
Net cash provided by operating activities 23,918 17,320
Cash flows from investing activities:    
Purchases of property, plant and equipment (11,785) (8,180)
Business combinations (744)  
Proceeds from sales of assets 566 8
Net cash used in investing activities (11,963) (8,172)
Cash flows from financing activities:    
Payment of fair value of contingent consideration in Anlin Acquisition (4,348)  
Proceeds of amounts drawn from revolving credit facility 15,000  
Payments of borrowing under revolving credit facility (12,352)  
Purchases of treasury stock under share repurchase program (25,895)  
Income taxes paid from stock withheld relating to vesting of equity awards (2,594) (1,663)
Net cash used in financing activities (30,189) (1,663)
Net increase (decrease) in cash and cash equivalents (18,234) 7,485
Cash and cash equivalents at beginning of period 66,548 96,146
Cash and cash equivalents at end of period 48,314 103,631
Non-cash activity:    
Additions to right-of-use asset 3,991 1,324
Additions to operating lease liability (3,991) (1,324)
Property, plant and equipment additions in accounts payable $ 62 $ 127