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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows from Operating Activities:    
Net loss from continuing operations $ (38,000) $ (5,590,000)
Net income from discontinued operations 0 12,430,000
Non-cash charges:    
Depreciation and amortization 975,000 1,227,000
Amortization of other intangible assets 620,000 803,000
Amortization of debt issue costs 42,000 118,000
Recovery for losses on accounts receivable - net (12,000) 0
Stock-based compensation 20,000 13,000
Restricted stock-based compensation 30,000 39,000
(Gain) loss on sale of fixed assets (8,000) 3,000
Deferred income taxes 142,000 (3,163,000)
Fair value change in contingent consideration 14,000 0
Impairment of goodwill and other intangible assets 0 8,311,000
Changes in operating assets and liabilities:    
Accounts receivable (2,252,000) (2,166,000)
Inventories 1,468,000 (681,000)
Prepaid expenses and other current assets 2,154,000 (1,947,000)
Other assets 45,000 60,000
Accounts payable 842,000 1,304,000
Accrued compensation and benefits (129,000) (209,000)
Accrued other liabilities (623,000) 287,000
Other liabilities (14,000) (14,000)
Total adjustments 3,314,000 3,985,000
Net cash provided by (used in) operating activities - continuing operations 3,276,000 (1,605,000)
Net cash used in operating activities - discontinued operations 0 (653,000)
Net cash provided by (used in) operating activities 3,276,000 (2,258,000)
Cash Flows from Investing Activities:    
Capital expenditures (444,000) (894,000)
Purchase of net assets of Jiffy Air Tool, Inc. (6,845,000) 0
Purchase of patents (200,000) 0
Proceeds from disposal of assets 8,000 30,000
Net cash used in investing activities - continuing operations (7,481,000) (864,000)
Net cash provided by investing activities - discontinued operations 0 20,149,000
Net cash (used in) provided by investing activities (7,481,000) 19,285,000
Cash Flows from Financing Activities:    
Dividend payments (542,000) (2,156,000)
Proceeds from exercise of stock options 62,000 23,000
Purchase of Class A Common Stock (89,000) (255,000)
Net proceeds from short-term borrowings 2,334,000 10,536,000
Repayments of term loans 0 (6,343,000)
Repayments of notes payable (14,000) (27,000)
Payments of debt issue costs (74,000) (30,000)
Net cash provided by financing activities - continuing operations 1,677,000 1,748,000
Net cash used in financing activities - discontinued operations 0 (18,716,000)
Net cash provided by (used in) financing activities 1,677,000 (16,968,000)
Effect of exchange rate changes on cash 34,000 (45,000)
Net (decrease) increase in cash (2,494,000) 14,000
Cash at beginning of period 3,699,000 927,000
Cash at end of period 1,205,000 941,000
Supplemental disclosures of cash flow information:    
Cash paid for: Interest 74,000 123,000
Cash paid for: Income taxes 342,000 88,000
Supplemental disclosure of non-cash investing and financing activities:    
Contingent consideration on acquisition $ 692,000 $ 0