Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 26, 2015 |
Jun. 28, 2014 |
| Operating activities |
|
|
| Net income |
$ 10,985
|
$ 17,367
|
| Adjustments to reconcile net income to net cash used in operating activities: |
|
|
| Depreciation and amortization expense |
1,753
|
1,569
|
| Loss on disposal of property, plant, and equipment |
328
|
0
|
| Stock-based compensation |
3,852
|
0
|
| Amortization of debt issuance costs |
370
|
0
|
| Changes in assets and liabilities: |
|
|
| Receivables |
(9,922)
|
(13,563)
|
| Other assets |
(6,586)
|
3,021
|
| Accounts payable |
(12,062)
|
6,068
|
| Billings in excess of costs |
9,321
|
(4,377)
|
| Deferred taxes |
(3,504)
|
(1,087)
|
| Compensation and other employee benefits |
9,637
|
(4,008)
|
| Other liabilities |
(4,353)
|
(2,353)
|
| Investing activities |
(181)
|
2,637
|
| Investing activities |
|
|
| Purchases of capital assets |
(734)
|
(1,004)
|
| Net cash used in investing activities |
(734)
|
(1,004)
|
| Financing activities |
|
|
| Repayments of long-term debt |
(11,250)
|
0
|
| Proceeds from revolver |
132,500
|
0
|
| Repayments of revolver |
(132,500)
|
0
|
| Proceeds from exercise of stock options |
107
|
0
|
| Proceeds from insurance financing |
14,857
|
0
|
| Repayments of insurance financing |
(4,018)
|
0
|
| Payments of employee withholding taxes on share-based compensation |
(752)
|
0
|
| Transfer to Former Parent, net |
0
|
(2,105)
|
| Net cash used in financing activities |
(1,056)
|
(2,105)
|
| Exchange rate effect on cash |
(849)
|
(657)
|
| Net change in cash |
(2,820)
|
(1,129)
|
| Cash-beginning of year |
42,823
|
10,446
|
| Cash-end of period |
40,003
|
9,317
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
2,393
|
16
|
| Income taxes paid |
6,234
|
0
|
| Non-cash investing activities: |
|
|
| Purchase of capital assets on account |
$ 35
|
$ 167
|