XML 25 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 19,674 $ 16,315
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on change in fair value of contingent consideration, net (1,513) (427)
Depreciation and amortization 7,477 6,255
Deferred income taxes 366 (216)
Non-cash compensation expense 3,510 2,867
Changes in other operating items:    
Accounts and other receivables 6,164 917
Costs and estimated earnings in excess of billings on uncompleted contracts (15,937) (9,269)
Prepaid expenses and other current assets (2,725) (2,586)
Accounts payable and accrued expenses 6,129 (71)
Billings in excess of costs and estimated earnings on uncompleted contracts (3,778) (2,110)
Excess Tax Benefit from Share-based Compensation, Operating Activities (1,539) (249)
Contingent consideration payments in excess of fair value on acquisition date (1,043) (708)
Other (121) (469)
Net cash provided by operating activities 16,664 10,249
Cash flows from investing activities:    
Additions to property, plant and equipment (2,315) (4,608)
Acquisitions, net of cash acquired (8,666) (13,524)
Proceeds from Sale of Productive Assets 246 0
Net cash used in investing activities (10,735) (18,132)
Cash flows from financing activities:    
Proceeds from short-term borrowings 4,473 4,820
Contingent consideration payments (977) (1,026)
Change in negative cash book balance (2,576) 1,829
Payments Related to Tax Withholding for Share-based Compensation (1,978) (523)
Excess Tax Benefit from Share-based Compensation, Financing Activities 1,539 249
Repurchases of common stock in the open market (3,051) (935)
Proceeds from Stock Options Exercised 81 62
Other (4) (3)
Net cash provided by (used in) financing activities (2,493) 4,473
Effect of exchange rate changes on cash and cash equivalents 35 22
Net increase (decrease) in cash and cash equivalents 3,471 (3,388)
Cash and cash equivalents at beginning of period 5,647 7,761
Cash and cash equivalents at end of period 9,118 4,373
Supplemental disclosures of cash flow information:    
Cash paid during the period for income taxes $ 14,502 $ 10,765