Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 31, 2020 |
Mar. 31, 2019 |
| Operating activities |
|
|
| Net (loss) income |
$ (2,933)
|
$ 3,497
|
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: |
|
|
| Deferred income taxes |
1,038
|
2,176
|
| Noncash stock compensation expense |
4,608
|
2,806
|
| Noncash interest expense |
1,491
|
1,994
|
| Change in contingent consideration due to seller |
30
|
290
|
| Depreciation and amortization |
9,792
|
9,468
|
| Change in assets: |
|
|
| Accounts receivable |
(48,384)
|
2,509
|
| Income taxes (payable) receivable |
(425)
|
3,366
|
| Prepaid expenses and other assets |
885
|
2,441
|
| Change in liabilities: |
|
|
| Accounts payable |
49,417
|
2,865
|
| Accrued expenses and other liabilities |
(5,852)
|
(6,237)
|
| Payments of contingent consideration in excess of costs over estimated earnings |
0
|
(1,097)
|
| Net cash provided by operating activities |
9,668
|
24,076
|
| Investing activities |
|
|
| Purchases of property and equipment |
(5,101)
|
(6,382)
|
| Payments for acquisitions, net of cash acquired |
0
|
(33)
|
| Net cash used in investing activities |
(5,101)
|
(6,415)
|
| Financing activities |
|
|
| Payments of contingent consideration due to seller |
0
|
(253)
|
| Proceeds from exercise of stock options |
381
|
37
|
| Employee tax withholdings related to net share settlements of equity-based awards |
(1,541)
|
(1,978)
|
| Purchases of treasury stock |
(10,349)
|
(10,371)
|
| Purchases of Convertible Notes |
(88,961)
|
(7,783)
|
| Proceeds from borrowing on ABL facility |
100,000
|
0
|
| Net cash used in financing activities |
(470)
|
(20,348)
|
| Increase (Decrease) in cash and cash equivalents |
4,097
|
(2,686)
|
| Cash and cash equivalents, beginning of period |
34,626
|
40,281
|
| Cash and cash equivalents, end of period |
38,722
|
37,595
|
| Supplemental disclosure of cash flow information |
|
|
| Cash paid during the period for interest |
1,156
|
298
|
| Cash received during the period for income taxes refunded |
0
|
3,348
|
| Noncash financing activity |
|
|
| Liability for purchases of treasury stock not yet settled |
$ 0
|
$ 257
|