Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Operating activities |
|
|
|
| Net income |
$ 23,655
|
$ 30,973
|
$ 22,812
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization expense |
1,920
|
3,138
|
2,149
|
| Loss on disposal of property, plant, and equipment |
405
|
686
|
103
|
| Stock-based compensation |
4,649
|
6,658
|
2,324
|
| Amortization of debt issuance costs |
1,198
|
1,130
|
185
|
| Changes in assets and liabilities: |
|
|
|
| Receivables |
37,814
|
(9,886)
|
21,608
|
| Other assets |
(13,903)
|
12,005
|
(1,329)
|
| Accounts payable |
(3,766)
|
8,874
|
6,169
|
| Billings in excess of costs |
(4,605)
|
219
|
(5,266)
|
| Deferred taxes |
(2,163)
|
(9,404)
|
11,282
|
| Compensation and other employee benefits |
(1,808)
|
275
|
(13,245)
|
| Other liabilities |
(6,778)
|
(25,788)
|
(3,813)
|
| Net cash provided by operating activities |
36,618
|
18,880
|
42,979
|
| Investing activities |
|
|
|
| Purchases of capital assets |
(741)
|
(793)
|
(3,847)
|
| Proceeds from the disposition of assets |
116
|
387
|
497
|
| Distributions from equity investment |
573
|
524
|
0
|
| Net cash (used in) provided by investing activities |
(52)
|
118
|
(3,350)
|
| Financing activities |
|
|
|
| Proceeds from issuance of long-term debt |
0
|
0
|
140,000
|
| Repayments of long-term debt |
(29,000)
|
(23,375)
|
(2,625)
|
| Proceeds from revolver |
74,000
|
324,000
|
23,000
|
| Repayments of revolver |
(74,000)
|
(324,000)
|
(23,000)
|
| Distribution to subsidiary of Exelis |
0
|
0
|
(136,281)
|
| Proceeds from exercise of stock options |
2,146
|
239
|
0
|
| Payment of debt issuance costs |
(221)
|
0
|
(3,701)
|
| Proceeds from insurance financing |
0
|
14,857
|
0
|
| Repayments of insurance financing |
0
|
(12,130)
|
0
|
| Payments of employee withholding taxes on share-based compensation |
(987)
|
(1,301)
|
(229)
|
| Working capital adjustment payment from Exelis |
0
|
0
|
2,600
|
| Transfer to Former Parent, net |
0
|
0
|
(6,371)
|
| Net cash (used in) financing activities |
(28,062)
|
(21,710)
|
(6,607)
|
| Exchange rate effect on cash |
(848)
|
(116)
|
(645)
|
| Net change in cash |
7,656
|
(2,828)
|
32,377
|
| Cash-beginning of year |
39,995
|
42,823
|
10,446
|
| Cash-end of year |
47,651
|
39,995
|
42,823
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
|
| Interest paid |
5,278
|
6,047
|
1,201
|
| Income taxes paid |
26,068
|
16,096
|
2,667
|
| Non-cash investing activities: |
|
|
|
| Non-cash investing activities: Purchase of capital assets on account |
$ 0
|
$ 0
|
$ 92
|