Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 30, 2018 |
Mar. 31, 2017 |
| Operating activities |
|
|
| Net income |
$ 6,111
|
$ 6,668
|
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: |
|
|
| Depreciation and amortization |
809
|
407
|
| Loss on disposal of property, plant, and equipment |
40
|
0
|
| Stock-based compensation |
1,415
|
1,086
|
| Amortization of debt issuance costs |
106
|
194
|
| Changes in assets and liabilities: |
|
|
| Receivables |
(37,042)
|
7,441
|
| Other assets |
(1,164)
|
4,202
|
| Accounts payable |
9,497
|
(22,599)
|
| Billings in excess of costs |
0
|
2,415
|
| Deferred taxes |
(827)
|
(2,506)
|
| Compensation and other employee benefits |
5,788
|
12,059
|
| Other liabilities |
3,630
|
547
|
| Net cash (used in) provided by operating activities |
(11,637)
|
9,914
|
| Investing activities |
|
|
| Purchases of capital assets |
(73)
|
(24)
|
| Acquisition of business, net of cash acquired |
(37,210)
|
0
|
| Net cash used in investing activities |
(37,283)
|
(24)
|
| Financing activities |
|
|
| Repayments of long-term debt |
(1,000)
|
(3,500)
|
| Proceeds from revolver |
31,000
|
18,000
|
| Repayments of revolver |
(31,000)
|
(18,000)
|
| Proceeds from exercise of stock options |
1,309
|
50
|
| Payments of employee withholding taxes on share-based compensation |
(785)
|
(577)
|
| Net cash used in financing activities |
(476)
|
(4,027)
|
| Exchange rate effect on cash |
690
|
175
|
| Net change in cash |
(48,706)
|
6,038
|
| Cash-beginning of year |
77,453
|
47,651
|
| Cash-end of period |
28,747
|
53,689
|
| Supplemental Disclosure of Cash Flow Information: |
|
|
| Interest paid |
991
|
1,036
|
| Income taxes paid |
$ 198
|
$ 161
|