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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 20,559,000 $ 20,964,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 11,342,000 5,240,000
Amortization of debt issuance costs 675,000 0
Deferred income taxes 2,022,000 164,000
Loss on disposal of fixed assets 41,000 28,000
Stock compensation expense 1,265,000 780,000
Change in assets and liabilities:    
Receivables (41,943,000) (2,273,000)
Contract receivables 4,108,000 (424,000)
Inventories (114,226,000) (845,000)
Other current assets (9,791,000) (993,000)
Other assets (152,000) (80,000)
Accounts payable 78,626,000 4,459,000
Accrued and other liabilities 2,432,000 2,566,000
Income taxes (5,313,000) 1,019,000
Contract liabilities (4,520,000) 836,000
Net cash (used in) provided by operating activities (54,875,000) 31,441,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (21,055,000) (11,716,000)
Acquisition of business, net of cash acquired (212,408,000) 0
Proceeds from sales of fixed assets 0 5,000
Net cash used in investing activities (233,463,000) (11,711,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 180,072,000 20,000,000
Repayments on revolving credit facility (34,000,000) (20,000,000)
Proceeds from term loan 130,000,000 0
Repayments on term loan (2,438,000) 0
Debt issuance costs (4,266,000) 0
Proceeds from stock options 825,000 136,000
Repurchase of common stock 0 (2,938,000)
Dividends paid on common stock (4,299,000) (4,093,000)
Net cash provided by (used in) financing activities 265,894,000 (6,895,000)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (22,444,000) 12,835,000
CASH AND CASH EQUIVALENTS:    
BEGINNING OF PERIOD 28,353,000 15,518,000
END OF PERIOD $ 5,909,000 $ 28,353,000