Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
| Operating activities |
|
|
|
| Net income |
$ 59,497
|
$ 23,655
|
$ 30,973
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation expense |
1,686
|
1,920
|
3,138
|
| Loss on disposal of property, plant, and equipment |
0
|
405
|
686
|
| Stock-based compensation |
4,467
|
4,649
|
6,658
|
| Amortization and write-off of debt issuance costs |
1,464
|
1,198
|
1,130
|
| Changes in assets and liabilities: |
|
|
|
| Receivables |
178
|
37,814
|
(9,886)
|
| Other assets |
3,455
|
(13,903)
|
12,005
|
| Accounts payable |
(4,346)
|
(3,766)
|
8,874
|
| Billings in excess of costs |
2,345
|
(4,605)
|
219
|
| Deferred taxes |
(35,321)
|
(2,163)
|
(9,404)
|
| Compensation and other employee benefits |
3,256
|
(1,808)
|
275
|
| Other liabilities |
(1,271)
|
(6,778)
|
(25,788)
|
| Net cash provided by operating activities |
35,410
|
36,618
|
18,880
|
| Investing activities |
|
|
|
| Purchases of capital assets |
(2,344)
|
(741)
|
(793)
|
| Proceeds from the disposition of assets |
0
|
116
|
387
|
| Distributions from equity investment |
0
|
573
|
524
|
| Net cash (used in) provided by investing activities |
(2,344)
|
(52)
|
118
|
| Financing activities |
|
|
|
| Proceeds from issuance of long-term debt |
80,000
|
0
|
0
|
| Repayments of long-term debt |
(86,000)
|
(29,000)
|
(23,375)
|
| Proceeds from revolver |
42,500
|
74,000
|
324,000
|
| Repayments of revolver |
(42,500)
|
(74,000)
|
(324,000)
|
| Proceeds from exercise of stock options |
2,031
|
2,146
|
239
|
| Payment of debt issuance costs |
(1,844)
|
(221)
|
0
|
| Proceeds from insurance financing |
0
|
0
|
14,857
|
| Repayments of insurance financing |
0
|
0
|
(12,130)
|
| Payments of employee withholding taxes on share-based compensation |
(1,317)
|
(987)
|
(1,301)
|
| Net cash (used in) financing activities |
(7,130)
|
(28,062)
|
(21,710)
|
| Exchange rate effect on cash |
3,866
|
(848)
|
(116)
|
| Net change in cash |
29,802
|
7,656
|
(2,828)
|
| Cash-beginning of year |
47,651
|
39,995
|
42,823
|
| Cash-end of year |
77,453
|
47,651
|
39,995
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
|
| Interest paid |
5,886
|
5,278
|
6,047
|
| Income taxes paid |
$ 4,802
|
$ 26,068
|
$ 16,096
|