Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jul. 01, 2016 |
Jun. 26, 2015 |
| Operating activities |
|
|
| Net income |
$ 12,640
|
$ 10,985
|
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization expense |
1,012
|
1,753
|
| Loss on disposal of property, plant, and equipment |
389
|
328
|
| Stock-based compensation |
3,268
|
3,852
|
| Amortization of debt issuance costs |
578
|
370
|
| Changes in assets and liabilities: |
|
|
| Receivables |
33,458
|
(9,922)
|
| Other assets |
1
|
(6,586)
|
| Accounts payable |
(25,459)
|
(12,062)
|
| Billings in excess of costs |
346
|
9,321
|
| Deferred taxes |
(5,265)
|
(3,504)
|
| Compensation and other employee benefits |
3,134
|
9,637
|
| Other liabilities |
(4,820)
|
(4,353)
|
| Net cash provided by (used in) operating activities |
19,282
|
(181)
|
| Investing activities |
|
|
| Purchases of capital assets |
(317)
|
(734)
|
| Proceeds from the disposition of assets |
111
|
0
|
| Distribution from equity investment |
89
|
0
|
| Net cash (used in) investing activities |
(117)
|
(734)
|
| Financing activities |
|
|
| Repayments of long-term debt |
(9,000)
|
(11,250)
|
| Proceeds from revolver |
69,000
|
132,500
|
| Repayments of revolver |
(69,000)
|
(132,500)
|
| Proceeds from exercise of stock options |
431
|
107
|
| Proceeds from insurance financing |
0
|
14,857
|
| Repayments of insurance financing |
0
|
(4,018)
|
| Payments of employee withholding taxes on share-based compensation |
(651)
|
(752)
|
| Payment of debt issuance costs |
(221)
|
0
|
| Net cash (used in) financing activities |
(9,441)
|
(1,056)
|
| Exchange rate effect on cash |
270
|
(849)
|
| Net change in cash |
9,994
|
(2,820)
|
| Cash-beginning of year |
39,995
|
42,823
|
| Cash-end of period |
49,989
|
40,003
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
3,060
|
2,393
|
| Income taxes paid |
13,494
|
6,234
|
| Non-cash investing activities: |
|
|
| Purchase of capital assets on account |
$ 0
|
$ 35
|