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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities    
Net income $ 3,544,000 $ 2,080,000
Non-cash charges:    
Depreciation and amortization 1,720,000 1,551,000
Amortization of other intangible assets 1,295,000 718,000
Amortization of debt issue costs 111,000 94,000
Provision for/(recovery of) doubtful accounts 18,000 (90,000)
Stock-based compensation 86,000 220,000
Restricted stock-based compensation 43,000 27,000
(Gain) loss on sale of fixed assets (2,000) 14,000
Deferred income taxes 382,000 1,458,000
Fair value reduction in contingent consideration (126,000) 0
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (215,000) 1,233,000
Inventories 223,000 1,670,000
Prepaid expenses and other current assets 401,000 250,000
Other assets 101,000 79,000
Accounts payable 408,000 (318,000)
Accrued compensation and benefits (595,000) 492,000
Accrued other liabilities (804,000) (746,000)
Other liabilities (17,000) (16,000)
Total adjustments 3,029,000 6,636,000
Net cash provided by operating activities 6,573,000 8,716,000
Cash Flows from Investing Activities:    
Capital expenditures (1,422,000) (1,072,000)
Proceeds from disposal of assets 48,000 15,000
Purchase of net assets Air Tool Service Company 0 (7,659,000)
Purchase of Exhaust Technologies, Inc. 0 (10,377,000)
Purchase of Universal Air Tool Company Limited, net of cash acquired of $14,000 0 (1,792,000)
Net cash used in investing activities (1,374,000) (20,885,000)
Cash Flows from Financing Activities:    
Proceeds from exercise of stock options 73,000 745,000
Purchase of Class A common stock 0 (1,583,000)
Proceeds from short-term borrowings 72,347,000 84,167,000
Repayments of short-term borrowings (74,541,000) (72,710,000)
Proceeds from term loan 0 3,000,000
Repayments of term loans (3,127,000) (793,000)
Proceeds from notes payable 0 66,000
Repayments of notes payable (39,000) (21,000)
Bank financing costs 0 (44,000)
Excess tax benefit on stock-based compensation 18,000 0
Net cash (used in) provided by financing activities (5,269,000) 12,827,000
Effect of exchange rate changes on cash (14,000) (60,000)
Net (decrease) increase in cash (84,000) 598,000
Cash at beginning of year 1,011,000 413,000
Cash at end of year 927,000 1,011,000
Supplemental disclosures of cash flow information:    
Cash paid for: Interest 615,000 415,000
Cash paid for: Income taxes 1,626,000 143,000
Supplemental disclosures of non-cash investing and financing activities:    
Exchange of fixed assets 64,000 0
Contingent Consideration on Acquisition $ 0 $ 425,000