XML 22 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities      
Net (loss) income $ (13,114) $ 21,882 $ 20,030
Depreciation and amortization 22,092 19,458 18,536
Deferred financing cost amortization 132 296 252
Bad debt (recovery) expense 255 (285) 442
Deferred income taxes 5,192 4,959 (1,013)
Stock-based compensation 2,712 2,542 1,614
Gain on bargain purchase of a business 0 (1,589) 0
Loss (gain) on sale of property and equipment 60 (459) (518)
Excess tax benefit from stock option exercise 0 (96) (1,476)
Change in operating assets and liabilities, net of effects of acquisitions of businesses:      
Accounts receivable 26,135 (5,073) (1,996)
Income tax receivable (6,331) (5,119) 2,453
Note receivable 39 1,246 (961)
Inventory (370) (1,519) (734)
Prepaid expenses and other (377) (698) 1,608
Costs and estimated earnings in excess of billings on uncompleted contracts 10,991 (13,733) (3,640)
Accounts payable (12,970) (7,651) 11,241
Accrued liabilities (2,728) 3,024 270
Income tax payable (262) (50) 314
Billings in excess of costs and estimated earnings on uncompleted contracts, net 1,277 (3,241) (6,030)
Deferred revenue (57) (55) (56)
Net cash provided by operating activities 32,676 13,839 40,336
Cash flows from investing activities:      
Proceeds from sale of property and equipment 841 827 1,095
Purchase of property and equipment (14,894) (29,050) (22,693)
Acquisition of TW LaQuay Dredging (net of cash acquired) 0 (60,879) 0
Acquisition of business (net of cash acquired) 0 (6,653) 0
Net cash used in investing activities (14,053) (95,755) (21,598)
Cash flows from financing activities:      
Increase in loan costs 0 411 0
Payments on long-term debt 0 0 (34,125)
Purchase of treasury stock (3,003) 0 0
Exercise of stock options 185 669 1,938
Excess tax benefit from stock option exercise 0 96 1,476
Proceeds from sale of common stock, net of offering costs 0 0 90,997
Net cash (used in) provided by financing activities (2,818) 354 60,286
Net change in cash and cash equivalents 15,805 (81,562) 79,024
Cash and cash equivalents at beginning of period 23,174 104,736 25,712
Cash and cash equivalents at end of period 38,979 23,174 104,736
Supplemental disclosures of cash flow information:      
Interest 212 547 553
Income Taxes Paid, Net (4,948) 12,149 9,781
Non-cash capital expenditures $ 0 $ 1,110 $ 42