XML 26 R8.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 flows from operating activities:      
Net income $ 1,983 $ 8,172 $ 17,707
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 9,853 9,921 10,609
Unrealized foreign currency loss (gain) 2,047 346 (526)
Net gain on interest rate swaps 0 0 (248)
Impairment of intangible assets 0 850 0
Fair value adjustments to earnout liabilities 704 1,193 0
Earnout payments (587)
(Gain) loss on sale of property and equipment (83) 63 78
Loss on divestitures (70)
Amortization of debt discount 404 415 1,060
Share based compensation expense 3,335 1,758 2,668
Bad debt expense 688 928 295
Inventory reserve expense 82 494 316
Deferred income tax expense (benefit) 87 1,038 (940)
Changes in operating assets and liabilities, net of acquisitions and divestitures:      
Accounts receivable (13,165) 8,367 (15,616)
Cost and estimated earnings of billings on uncompleted contracts (7,007) (9,561) (5,029)
Inventories (203) 4,366 (207)
Prepaid expenses and other current assets 5,911 (962) (7,097)
Deferred charges and other assets 300 (4,095) 758
Accounts payable and accrued expenses 440 336 (4,028)
Billings in excess of costs and estimated earnings on uncompleted contracts 8,431 (17,635) 14,274
Income taxes payable 1,047 460 (1,671)
Other liabilities (882) (2,033) (2,246)
Net cash provided by operating activities 13,298 4,421 10,227
Cash flows from investing activities:      
Acquisitions of property and equipment (2,616) (3,945) (5,655)
Net proceeds from sale of assets 533 605 509
Cash paid for acquisitions (5,895)
Net cash used in investing activities (2,083) (9,235) (5,146)
Cash flows from financing activities:      
Borrowings on revolving credit lines 51,400 96,000 45,300
Repayments on revolving credit lines. (57,100) (86,800) (52,947)
Repayments of long-term debt (2,738) (5,009) (2,950)
Deferred financing fees paid (801) (1,117)
Payments on capital leases and sale-leaseback financing liability (603) (467) (478)
Earnout payments (823)
Proceeds from employee stock purchase plan, exercise of stock options, and dividend reinvestment plan 230 76
Distributions to non-controlling interest (107)
Common stock repurchases (5,014)
Net cash (used in) provided by financing activities (15,556) 3,724 (12,116)
Effect of exchange rate changes on cash and cash equivalents (1,475) 1,943 (445)
Net (decrease) increase in cash, cash equivalents and restricted cash (5,816) 853 (7,480)
Cash, cash equivalents and restricted cash at beginning of year 37,811 36,958 44,438
Cash, cash equivalents and restricted cash at end of year 31,995 37,811 36,958
Cash paid (received) during the period for:      
Interest 2,146 3,172 3,549
Income taxes $ (2,570) $ 2,156 $ 5,908