Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2017 |
Jul. 01, 2016 |
| Operating activities |
|
|
| Net income |
$ 12,129
|
$ 12,640
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization expense |
794
|
1,012
|
| Loss on disposal of property, plant, and equipment |
0
|
389
|
| Stock-based compensation |
2,995
|
3,268
|
| Amortization of debt issuance costs |
381
|
578
|
| Changes in assets and liabilities: |
|
|
| Receivables |
8,791
|
33,458
|
| Other assets |
(640)
|
1
|
| Accounts payable |
(14,793)
|
(25,459)
|
| Billings in excess of costs |
1,286
|
346
|
| Deferred taxes |
(4,553)
|
(5,265)
|
| Compensation and other employee benefits |
(1,411)
|
3,134
|
| Other liabilities |
757
|
(4,820)
|
| Net cash provided by operating activities |
5,736
|
19,282
|
| Investing activities |
|
|
| Purchases of capital assets |
(364)
|
(317)
|
| Proceeds from the disposition of assets |
0
|
111
|
| Distributions from equity investment |
0
|
89
|
| Net cash (used in) investing activities |
(364)
|
(117)
|
| Financing activities |
|
|
| Repayments of long-term debt |
(7,000)
|
(9,000)
|
| Proceeds from revolver |
18,000
|
69,000
|
| Repayments of revolver |
(18,000)
|
(69,000)
|
| Proceeds from exercise of stock options |
1,886
|
431
|
| Payment of debt issuance costs |
0
|
(221)
|
| Payments of employee withholding taxes on share-based compensation |
(612)
|
(651)
|
| Net cash (used in) financing activities |
(5,726)
|
(9,441)
|
| Exchange rate effect on cash |
2,192
|
270
|
| Net change in cash |
1,838
|
9,994
|
| Cash-beginning of year |
47,651
|
39,995
|
| Cash-end of period |
49,489
|
49,989
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
2,021
|
3,060
|
| Income taxes paid |
2,629
|
13,494
|
| Non-cash investing activities: |
|
|
| Purchase of capital assets on account |
$ 344
|
$ 0
|