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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net Income $ 135,536 $ 29,174 $ 32,461
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation and amortization 28,389 28,850 28,305
Non-cash operating lease cost 3,349 3,157 2,669
Stock-based compensation expense 11,212 9,299 7,161
Deferred income taxes 1,768 327 (1,830)
(Recovery of) provision for credit losses (454) 231 186
Noncash loss on extinguishment of debt 0 0 180
Insurance recoveries related to loss on operating assets 0 8,546 0
Gain on sale-leaseback (132,522) 0 0
Other (505) 826 942
Changes in Assets and Liabilities:      
Accounts receivable (11,689) 8,877 2,380
Contract assets (22,377) (47,358) (20,005)
Inventories (17,129) (20,183) (8,491)
Production cost of contracts (2,311) (1,488) (1,079)
Other assets (4,902) (212) 1,358
Accounts payable 2,793 (19,714) 11,620
Contract liabilities 13,813 13,747 (2,628)
Operating lease liabilities (3,531) (2,953) (2,713)
Accrued and other liabilities (2,005) 1,485 515
Net Cash (Used in) Provided by Operating Activities (565) 12,611 51,031
Cash Flows from Investing Activities      
Purchases of property and equipment (16,863) (12,510) (18,290)
Proceeds from sale-leaseback 143,100 0 0
Proceeds from sale of assets 553 5 3
Insurance recoveries related to property and equipment 0 4,954 0
Life insurance proceeds 439 1,889 0
Payments for acquisition of Magnetic Seal LLC, net of cash acquired (69,479) 0 0
Post closing cash received from the acquisition of Nobles Worldwide, Inc., net 0 190 0
Payments for acquisition of Nobles Worldwide, Inc., net of cash acquired 0 0 (76,647)
Net Cash Provided by (Used in) Investing Activities 57,750 (5,472) (94,934)
Cash Flows from Financing Activities      
Borrowings from senior secured revolving credit facility 96,000 65,900 298,400
Repayments of senior secured revolving credit facility (121,000) (40,900) (298,400)
Borrowings from term loans 0 0 140,000
Repayments of term loans (7,926) (14,362) (63,000)
Repayments of other debt (362) (288) (169)
Debt issuance costs 0 0 (1,135)
Net cash paid upon issuance of common stock under stock plans (4,047) (607) (2,472)
Net Cash (Used in) Provided by Financing Activities (37,335) 9,743 73,224
Net Increase in Cash and Cash Equivalents 19,850 16,882 29,321
Cash and Cash Equivalents at Beginning of Year 56,466 39,584 10,263
Cash and Cash Equivalents at End of Year $ 76,316 $ 56,466 $ 39,584