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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Cash Flows from Operating Activities    
Net Income $ 20,708 $ 24,702
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:    
Depreciation and amortization 23,335 21,112
Non-cash operating lease cost 5,184 2,586
Inventory write down and property and equipment impairment due to restructuring 1,018 0
Stock-based compensation expense 7,904 8,149
Deferred income taxes (6,981) 1,403
Recovery of credit losses (483) (65)
Noncash loss on extinguishment of debt 295 0
Other 603 531
Changes in Assets and Liabilities:    
Accounts receivable (21,584) (11,715)
Contract assets (18,091) (28,731)
Inventories (21,690) (14,956)
Production cost of contracts 276 (1,481)
Other assets (139) (2,678)
Accounts payable 23,166 2,074
Contract liabilities (8,020) (4,990)
Operating lease liabilities (4,700) (2,545)
Accrued and other liabilities (171) (5,667)
Net Cash Provided by (Used in) Operating Activities 630 (12,271)
Cash Flows from Investing Activities    
Purchases of property and equipment (14,365) (10,798)
Proceeds from sale of assets 51 551
Proceeds from life insurance 0 439
Post closing cash received from the acquisition of Magnetic Seal LLC, net 365 0
Net Cash Used in Investing Activities (13,949) (9,808)
Cash Flows from Financing Activities    
Borrowings from senior secured revolving credit facility 4,000 21,000
Repayments of senior secured revolving credit facility (4,000) (36,000)
Borrowings from term loans 250,000 0
Repayments of term loans (287,712) (6,176)
Repayments of other debt (246) (266)
Debt issuance costs (2,511) 0
Net cash paid upon issuance of common stock under stock plans (1,281) (3,972)
Net Cash Used in Financing Activities (41,750) (25,414)
Net Decrease in Cash and Cash Equivalents (55,069) (47,493)
Cash and Cash Equivalents at Beginning of Period 76,316 56,466
Cash and Cash Equivalents at End of Period $ 21,247 $ 8,973