Consolidated Statement of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Cash flows from operating activities: |
|
|
|
| Net (loss) income: |
$ (5,324)
|
$ 6,967
|
$ 10,178
|
| Adjustments to reconcile net income to cash used for operating activities: |
|
|
|
| Depreciation and amortization |
12,082
|
4,188
|
3,573
|
| Changes in allowances for doubtful accounts |
(167)
|
165
|
172
|
| Acquisition expenses financed by seller |
|
183
|
|
| (Gain) loss on disposal of assets |
(119)
|
3
|
(100)
|
| Changes in inventory reserves |
1,069
|
156
|
(110)
|
| Deferred income taxes |
(2,074)
|
(254)
|
(168)
|
| Amortization of deferred financing cost |
1,204
|
259
|
205
|
| Amortization of debt discount |
743
|
|
|
| Change in value of interest rate swaps |
(706)
|
|
|
| Loss in non-marketable equity interest |
199
|
|
|
| Share-based compensation |
1,481
|
1,104
|
664
|
| Deferred gain on sale and lease back |
301
|
|
|
| Reserves for uncertain tax provisions |
60
|
(35)
|
(83)
|
| Loss on sale of discontinued operations |
1,378
|
|
|
| Changes in operating assets and liabilities: |
|
|
|
| (Increase) decrease in accounts receivable |
23,475
|
(13,889)
|
980
|
| (Increase) decrease in accounts receivable finance |
|
315
|
271
|
| (Increase) decrease in inventory |
(10,286)
|
(7,010)
|
(7,931)
|
| (Increase) decrease in prepaid expenses |
(3,258)
|
(16)
|
(427)
|
| (Increase) decrease in other assets |
111
|
(123)
|
|
| Increase (decrease) in accounts payable |
6,717
|
2,676
|
(3,832)
|
| Increase (decrease) in accrued expense |
(2,458)
|
565
|
(115)
|
| Increase (decrease) in income tax payable on ASV conversion |
(16,231)
|
|
|
| Increase (decrease) in other current liabilities |
(1,472)
|
641
|
(122)
|
| Increase (decrease) in other long-term liabilities |
2,524
|
(30)
|
(36)
|
| Discontinued operations - cash provided by (used) for operating activities |
(214)
|
2,632
|
59
|
| Net cash provided by used for operating activities |
9,035
|
(1,503)
|
3,178
|
| Cash flows from investing activities: |
|
|
|
| Acquisition of businesses, net of cash acquired |
(13,747)
|
(24,998)
|
(13,000)
|
| Proceeds from the sale of fixed assets |
518
|
|
139
|
| Purchase of property and equipment |
(2,369)
|
(784)
|
(963)
|
| Investment in intangibles other than goodwill |
(233)
|
|
|
| Proceeds from the sale of discontinued operations |
6,525
|
|
|
| Discontinued operations - cash used for investing activities |
(96)
|
(140)
|
(252)
|
| Net cash used for investing activities |
(9,402)
|
(25,922)
|
(14,076)
|
| Cash flows from financing activities: |
|
|
|
| New borrowings—term loan |
14,000
|
|
15,000
|
| Repayment of term loan |
(11,800)
|
|
(15,000)
|
| Net proceeds from stock offering |
|
12,500
|
13,927
|
| New borrowings—convertible notes |
15,000
|
7,500
|
|
| Borrowing on revolving term credit facilities |
443
|
5,563
|
5,409
|
| Net borrowings (repayments) on working capital facilities |
(7,731)
|
2,532
|
(1,960)
|
| New borrowings—other |
7,289
|
677
|
809
|
| Bank fees and cost related to new financing |
(1,274)
|
(519)
|
(1,102)
|
| Note payments |
(8,466)
|
(947)
|
(809)
|
| Shares repurchased for income tax withholding on share-based compensation |
(75)
|
(114)
|
(70)
|
| Excess tax benefits related to vesting of restricted stock |
|
22
|
86
|
| Proceeds from capital leases |
|
942
|
|
| Payments on capital lease obligations |
(1,446)
|
(1,397)
|
(1,185)
|
| Discontinued operations - cash used for financing activities |
|
(113)
|
(107)
|
| Net cash provided by financing activities |
5,940
|
26,646
|
14,998
|
| Net increase (decrease) in cash and cash equivalents |
5,573
|
(779)
|
4,100
|
| Effect of exchange rate changes on cash |
(1,363)
|
(944)
|
102
|
| Cash and cash equivalents at the beginning of the year |
4,368
|
6,091
|
1,889
|
| Cash and cash equivalents at end of period |
$ 8,578
|
$ 4,368
|
$ 6,091
|