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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Net income $ 6,902 $ 6,315
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 6,385 6,145
Deferred income taxes 297 (290)
Stock-based compensation expense 1,211 1,267
Debt issue cost amortization recorded in interest expense 156 75
Other 411 395
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (292) (10,587)
Inventories (119) 1,340
Prepaid expenses and other assets (1,236) (1,115)
Accounts payable (2,022) 1,548
Accrued liabilities (2,514) (1,507)
Net cash provided by operating activities 9,179 3,586
Cash Flows From Investing Activities:    
Consideration paid for acquisitions, net of cash acquired (25,527) (6,250)
Purchase of property and equipment (2,973) (3,554)
Net cash used in investing activities (28,500) (9,804)
Cash Flows From Financing Activities:    
Proceeds from issuance of long-term debt 76,850 4,000
Principal payments of long-term debt and finance lease obligations (53,230) (3,116)
Payment of contingent consideration (2,450)  
Payment of debt issuance costs (1,532)  
Tax withholdings related to net share settlements of restricted stock (100) (146)
Net cash provided by financing activities 19,538 738
Effect of foreign exchange rate changes on cash (604) 11
Net decrease in cash and cash equivalents (387) (5,469)
Cash and cash equivalents at beginning of period 31,901 30,614
Cash and cash equivalents at end of period $ 31,514 $ 25,145
Supplemental disclosure of cash flow information:    
Stock issued for acquisitions 6,250 6,250
Stock issued to settle contingent consideration $ 4,874  
Property, plant and equipment purchases in accounts payable or accrued expenses 1,037 $ 554
Debt issuance costs in accounts payable or accrued expenses $ 431