Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Apr. 01, 2016 |
Mar. 27, 2015 |
| Operating activities |
|
|
| Net income |
$ 6,589
|
$ 4,965
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization expense |
605
|
920
|
| Loss on disposal of property, plant, and equipment |
277
|
0
|
| Stock-based compensation |
1,713
|
1,879
|
| Amortization of debt issuance costs |
228
|
185
|
| Changes in assets and liabilities: |
|
|
| Receivables |
17,709
|
(9,589)
|
| Other assets |
147
|
(14,409)
|
| Accounts payable |
(36,832)
|
(10,784)
|
| Billings in excess of costs |
1,094
|
4,967
|
| Deferred taxes |
(1,103)
|
(2,071)
|
| Compensation and other employee benefits |
11,687
|
(3,393)
|
| Other liabilities |
(429)
|
101
|
| Net cash provided by (used in) operating activities |
1,685
|
(27,229)
|
| Investing activities |
|
|
| Purchases of capital assets |
(31)
|
(465)
|
| Proceeds from the disposition of assets |
111
|
0
|
| Net cash provided by (used in) investing activities |
80
|
(465)
|
| Financing activities |
|
|
| Repayments of long-term debt |
(3,500)
|
0
|
| Proceeds from revolver |
59,000
|
55,000
|
| Repayments of revolver |
(59,000)
|
(55,000)
|
| Proceeds from insurance financing |
0
|
14,857
|
| Payments of employee withholding taxes on share-based compensation |
(627)
|
(724)
|
| Net cash (used in) provided by financing activities |
(4,127)
|
14,133
|
| Exchange rate effect on cash |
989
|
(513)
|
| Net change in cash |
(1,373)
|
(14,074)
|
| Cash-beginning of year |
39,995
|
42,823
|
| Cash-end of period |
38,622
|
28,749
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
1,408
|
915
|
| Income taxes paid |
2,320
|
37
|
| Non-cash investing activities: |
|
|
| Purchase of capital assets on account |
$ 0
|
$ 34
|