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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 7,943 $ 3,050
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 2,584 2,464
Provision for bad debt 500 0
Reserve for inventory obsolescence 476 0
Change in fair value of interest rate swap (1,313) (1,323)
Amortization of loan fees 9 3
Stock-based compensation 611 0
(Increase) decrease in operating assets    
Accounts receivable (11,061) (1,741)
Inventories (19,341) 3,049
Prepaid expenses and other current assets (895) 3,108
Deposits 0 (41)
Other assets 88 2
Increase (decrease) in operating liabilities    
Accounts payable 5,526 (2,883)
Accrued expenses 530 551
Related party payable (743) (1,618)
Income taxes payable 1,892 (41)
Customer deposits 233 84
Other payable 1,534 (160)
Net cash (used in) provided by operating activities (11,427) 4,504
Cash flows from investing activities    
Purchases of property and equipment (824) (273)
Deposits paid for property and equipment (3,971) (921)
Acquisition of Pacific Cup, Inc., net of cash acquired 0 (900)
Net cash used in investing activities (4,795) (2,094)
Cash flows from financing activities    
Proceeds from line of credit 10,200 70
Proceeds from long-term debt 6,885 0
Payments on long-term debt (267) (1,888)
Proceeds from exercise of stock options 51 0
Payments on capital lease obligations   (79)
Payments of noncontrolling interest tax withholding (310) 0
Net cash provided by (used in) financing activities 16,559 (1,897)
Net increase in cash and cash equivalents 337 513
Cash and cash equivalents    
Beginning of year 6,483 448
End of year 6,820 961
Supplemental disclosures of non-cash investing and  financing activities:    
Transfers from deposit to property and equipment 416 473
Acquisition of Pacific Cup, Inc. included within deposits 0 100
Supplemental disclosures of cash flow information:    
Cash paid for income tax 200 0
Cash paid for interest $ 440 $ 1,088