XML 27 R6.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 12,537 $ 19,674
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss (gain) on change in fair value of contingent consideration, net 314 (1,513)
Depreciation and amortization 6,014 7,477
Deferred Income Tax Expense (Benefit) 0 366
Non-cash compensation expense 4,473 3,510
Changes in other operating items:    
Accounts and other receivables (1,418) 6,164
Costs and estimated earnings in excess of billings on uncompleted contracts (9,914) (15,937)
Prepaid expenses and other current assets 220 (2,725)
Accounts payable and accrued expenses 5,275 6,129
Billings in excess of costs and estimated earnings on uncompleted contracts (6,695) (3,778)
Excess Tax Benefit from Share-based Compensation, Operating Activities 435 1,539
Contingent consideration payments in excess of fair value on acquisition date (325) (1,043)
Other (518) (121)
Net cash provided by operating activities 9,528 16,664
Cash flows from investing activities:    
Additions to property, plant and equipment (1,831) (2,315)
Acquisitions, net of cash acquired 0 (8,666)
Other investing activities 85 246
Net cash used in investing activities (1,746) (10,735)
Cash flows from financing activities:    
Proceeds from short-term borrowings 12,108 4,473
Repayment of long-term debt (10,000) 0
Contingent consideration payments (2,284) (977)
Change in negative cash book balance (1,865) (2,576)
Tax withholding payments for employee stock-based compensation in exchange for shares surrendered 650 1,978
Income tax benefit of stock-based compensation 435 1,539
Repurchases of common stock in the open market (6,535) (3,051)
Proceeds from stock option exercises 115 81
Other financing activities (10) (4)
Net cash used in financing activities (8,686) (2,493)
Effect of exchange rate changes on cash and cash equivalents (6) 35
Net decrease in cash and cash equivalents (910) 3,471
Cash and cash equivalents at beginning of period 14,541 5,647
Cash and cash equivalents at end of period 13,631 9,118
Cash paid during the period for income taxes $ 5,655 $ 14,502