CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands |
3 Months Ended |
Jun. 30, 2018 |
Jun. 30, 2017 |
| OPERATING ACTIVITIES |
|
|
| Net loss |
$ (30,407)
|
$ (42,121)
|
| Adjustments to reconcile net loss to cash provided by operating activities: |
|
|
| Depreciation, amortization and accretion |
11,405
|
12,268
|
| Bad debt expense |
608
|
3,015
|
| Deferred tax benefit |
(1,225)
|
(2,932)
|
| Stock-based compensation |
3,526
|
2,704
|
| Employee stock purchase plan |
45
|
35
|
| Excess tax benefits from stock compensation |
106
|
25
|
| Loss on sale of assets |
58
|
126
|
| Impairment of intangible and other long-lived assets |
0
|
131
|
| Restructuring charges |
0
|
1,518
|
| Changes in operating assets and liabilities: |
|
|
| Trade accounts receivable, net |
11,940
|
46,733
|
| Inventories, net |
(136,641)
|
(142,797)
|
| Prepaid expenses and other current assets |
(9,295)
|
10,112
|
| Income tax receivable |
(229)
|
(8,218)
|
| Other assets |
1,418
|
(118)
|
| Trade accounts payable |
168,569
|
132,108
|
| Accrued expenses |
(1,795)
|
(13,273)
|
| Income taxes payable |
(5,700)
|
(7,228)
|
| Long-term liabilities |
(4,310)
|
564
|
| Net cash provided by (used in) operating activities |
8,073
|
(7,348)
|
| INVESTING ACTIVITIES |
|
|
| Purchases of property and equipment |
(7,286)
|
(3,835)
|
| Proceeds from sales of property and equipment, net |
47
|
0
|
| Net cash used in investing activities |
(7,239)
|
(3,835)
|
| FINANCING ACTIVITIES |
|
|
| Cash paid for shares withheld for taxes |
(499)
|
(893)
|
| Cash paid for repurchases of common stock |
(10,000)
|
0
|
| Repayment of mortgage principal |
(139)
|
(133)
|
| Net cash used in financing activities |
(10,638)
|
(1,026)
|
| Effect of foreign currency exchange rates on cash |
(2,315)
|
385
|
| Net change in cash and cash equivalents |
(12,119)
|
(11,824)
|
| Cash and cash equivalents at beginning of period |
429,970
|
291,764
|
| Cash and cash equivalents at end of period |
417,851
|
279,940
|
| Cash paid during the period |
|
|
| Income taxes paid, net of refunds ($2,744 and $886 as of June 30, 2018 and 2017, respectively) |
1,961
|
2,266
|
| Income tax refunds |
2,744
|
866
|
| Interest |
1,494
|
580
|
| Non-cash investing and financing activities |
|
|
| Accrued for purchases of property and equipment |
2,315
|
1,557
|
| Accrued for asset retirement obligations |
$ 27
|
$ 113
|