Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2016 |
Sep. 25, 2015 |
| Operating activities |
|
|
| Net income |
$ 19,246
|
$ 25,012
|
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization expense |
1,453
|
2,500
|
| Loss on disposal of property, plant, and equipment |
402
|
328
|
| Stock-based compensation |
3,542
|
5,621
|
| Amortization of debt issuance costs |
915
|
555
|
| Changes in assets and liabilities: |
|
|
| Receivables |
47,501
|
(13,862)
|
| Other assets |
(2,954)
|
1,893
|
| Accounts payable |
(31,593)
|
1,994
|
| Billings in excess of costs |
(2,828)
|
7,498
|
| Deferred taxes |
(7,138)
|
(5,306)
|
| Compensation and other employee benefits |
9,252
|
700
|
| Other liabilities |
(4,314)
|
(16,889)
|
| Net cash provided by operating activities |
33,484
|
10,044
|
| Investing activities |
|
|
| Purchases of capital assets |
(400)
|
(769)
|
| Proceeds from the disposition of assets |
116
|
0
|
| Distribution from equity investment |
346
|
0
|
| Net cash provided by (used in) investing activities |
62
|
(769)
|
| Financing activities |
|
|
| Repayments of long-term debt |
(20,500)
|
(16,875)
|
| Proceeds from revolver |
74,000
|
235,500
|
| Repayments of revolver |
(74,000)
|
(235,500)
|
| Proceeds from exercise of stock options |
568
|
107
|
| Proceeds from insurance financing |
0
|
14,857
|
| Repayments of insurance financing |
0
|
(8,061)
|
| Payments of employee withholding taxes on share-based compensation |
(651)
|
(759)
|
| Payment of debt issuance costs |
(221)
|
0
|
| Net cash (used in) financing activities |
(20,804)
|
(10,731)
|
| Exchange rate effect on cash |
614
|
(207)
|
| Net change in cash |
13,356
|
(1,663)
|
| Cash-beginning of year |
39,995
|
42,823
|
| Cash-end of period |
53,351
|
41,160
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
4,224
|
4,381
|
| Income taxes paid |
$ 20,598
|
$ 11,129
|