XML 46 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
Cash Flows From Operating Activities:      
Net income $ 23,756 $ 26,856 $ 24,006
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 25,816 17,384 13,128
Non-cash lease expense 9,410 0 0
Provision for doubtful accounts 1,239 797 586
Stock based compensation 10,430 6,697 4,011
Change in fair value of contingent consideration (216) 424 (832)
Loss on disposals of property and equipment 21 26 35
Deferred income taxes (6,634) (3,585) (11,242)
Amortization of debt issuance costs 131 0 0
Changes in operating assets and liabilities, net of impact of acquisitions:      
Billed receivables 5,140 (8,662) (10,911)
Unbilled receivables (11,807) (2,813) (3,802)
Prepaid expenses and other assets (3,599) (109) 295
Accounts payable 534 398 (1,495)
Accrued liabilities (7,315) (2,984) (2,442)
Income taxes payable (2,697) (3,405) 4,969
Billings in excess of costs and estimated earnings on uncompleted contracts (4,322) 3,964 436
Deposits 13 11 883
Net cash provided by operating activities 39,900 34,999 17,625
Cash Flows From Investing Activities:      
Cash paid for acquisitions (net of cash received from acquisitions) (348,375) (58,155) (60,633)
Purchase of property and equipment (2,625) (2,203) (2,239)
Net cash used in investing activities (351,000) (60,358) (62,872)
Cash Flows From Financing Activities:      
Proceeds from common stock offering 0 100,330 0
Proceeds from borrowings from Senior Credit Facility 330,457 0 47,000
Payments of borrowings from Senior Credit Facility (10,000) (36,500) (10,500)
Payments on notes payable (13,393) (9,741) (7,605)
Proceeds from exercise of warrant 0 1,093 0
Payments of contingent consideration (1,202) (728) (563)
Payments of common stock offering costs 0 (6,861) 0
Payments of debt issuance costs (3,676) (246) 0
Net cash provided by financing activities 302,186 47,347 28,332
Net (decrease) increase in Cash and Cash Equivalents (8,914) 21,988 (16,915)
Cash and cash equivalents – beginning of period 40,739 18,751 35,666
Cash and cash equivalents – end of period 31,825 40,739 18,751
Supplemental disclosures of cash flow information:      
Cash paid for interest 1,218 1,895 1,508
Cash paid for income taxes 16,215 13,634 7,607
Contingent Consideration Earn-Out, Non-Cash 1,641 3,112 908
Non-cash investing and financing activities:      
Notes payable and other obligations issued for acquisitions 10,044 23,987 9,371
Stock issuance for acquisitions 3,511 9,330 3,856
Stock issuance for acquisitions   9,330 3,856
Finance leases 1,084 2,884 0
Payment of contingent consideration with common stock $ 724   63
Payment of contingent consideration and other obligations with common stock   $ 0 $ 63