XML 20 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flow from operating activities:      
Net income $ 13,730 $ 7,639 $ 4,125
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 3,172 3,309 3,268
Equity-based compensation expense 2,640 2,483 1,748
Deferred income taxes (4,731) (370) (294)
Deferred compensation benefits (639) (108) (427)
Loss (gain) on the sale/disposal of property and equipment 15 (799)  
Impairment of capitalized software   855  
Non-taxable life insurance gain   (987)  
Changes in assets and liabilities that provide (use) cash, excluding the effects of acquisitions:      
Accounts receivable (10,302) 16,961 (3,627)
Prepaid and other current assets (374) (65) 952
Other long-term assets (408) (596) 84
Cash surrender value of life insurance 100 749 961
Accounts payable 2,936 (577) 3,864
Accrued compensation 2,085 (3,081) 2,203
Income taxes payable / receivable 1,125 (1,304) (186)
Deferred payroll taxes (3,150) 6,658  
Advance billings on contracts 1,813 1,267 (2,830)
Other current liabilities (561) (818) (1,061)
Other long-term liabilities (40) (478) (250)
Net cash provided by operating activities 7,411 30,738 8,530
Cash flow from investing activities:      
Cash paid for acquisitions, net of cash received   (4,324) (8,461)
Additions to property and equipment (1,940) (1,780) (1,773)
Additions to capitalized software   (1,105) (669)
Proceeds from the sale of property and equipment   2,442  
Premiums paid for life insurance (531) (616) (618)
Proceeds from life insurance   400  
Net cash used in investing activities (2,471) (4,983) (11,521)
Cash flow from financing activities:      
Proceeds from long-term debt   40,845 170,920
Payments on long-term debt   (46,135) (169,270)
Deferred debt financing costs (1,206)    
Proceeds from stock option plan exercises 366   91
Taxes remitted for shares withheld from equity-based compensation transactions (399) (168) (172)
Proceeds from Employee Stock Purchase Plan 165 143 147
Change in cash overdraft, net   (370) 78
Net cash provided by (used in) financing activities (1,074) (5,685) 1,794
Effect of exchange rates on cash and cash equivalents (1,147) 2,014 (453)
Net increase (decrease) in cash and cash equivalents 2,719 22,084 (1,650)
Cash and cash equivalents at beginning of year 32,865 10,781 12,431
Cash and cash equivalents at end of year $ 35,584 $ 32,865 $ 10,781