Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 29, 2017 |
Sep. 30, 2016 |
| Operating activities |
|
|
| Net income |
$ 17,930
|
$ 19,246
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization expense |
1,141
|
1,453
|
| Loss on disposal of property, plant, and equipment |
0
|
402
|
| Stock-based compensation |
3,341
|
3,542
|
| Amortization of debt issuance costs |
561
|
915
|
| Changes in assets and liabilities: |
|
|
| Receivables |
(96)
|
47,501
|
| Other assets |
3,196
|
(2,954)
|
| Accounts payable |
(11,470)
|
(31,593)
|
| Billings in excess of costs |
1,649
|
(2,828)
|
| Deferred taxes |
(1,007)
|
(7,138)
|
| Compensation and other employee benefits |
6,817
|
9,252
|
| Other liabilities |
336
|
(4,314)
|
| Net cash provided by operating activities |
22,398
|
33,484
|
| Investing activities |
|
|
| Purchases of capital assets |
(901)
|
(400)
|
| Proceeds from the disposition of assets |
0
|
116
|
| Distributions from equity investment |
0
|
346
|
| Net cash (used in) investing activities |
(901)
|
62
|
| Financing activities |
|
|
| Repayments of long-term debt |
(10,500)
|
(20,500)
|
| Proceeds from revolver |
27,500
|
74,000
|
| Repayments of revolver |
(27,500)
|
(74,000)
|
| Proceeds from exercise of stock options |
1,886
|
568
|
| Payment of debt issuance costs |
0
|
(221)
|
| Payments of employee withholding taxes on share-based compensation |
(612)
|
(651)
|
| Net cash (used in) financing activities |
(9,226)
|
(20,804)
|
| Exchange rate effect on cash |
3,524
|
614
|
| Net change in cash |
15,795
|
13,356
|
| Cash-beginning of year |
47,651
|
39,995
|
| Cash-end of period |
63,446
|
53,351
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
3,014
|
4,224
|
| Income taxes paid |
3,801
|
20,598
|
| Non-cash investing activities: |
|
|
| Purchase of capital assets on account |
$ 438
|
$ 0
|