Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Mar. 29, 2019 |
Mar. 30, 2018 |
| Operating activities |
|
|
| Net income |
$ 7,091
|
$ 6,111
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation expense |
788
|
403
|
| Amortization of intangible assets |
571
|
406
|
| Loss on disposal of property, plant, and equipment |
0
|
40
|
| Stock-based compensation |
1,462
|
1,415
|
| Amortization of debt issuance costs |
99
|
106
|
| Changes in assets and liabilities: |
|
|
| Receivables |
(12,650)
|
(37,042)
|
| Other assets |
94
|
(1,164)
|
| Accounts payable |
(11,367)
|
9,497
|
| Deferred taxes |
(1,090)
|
(827)
|
| Compensation and other employee benefits |
6,724
|
5,788
|
| Other liabilities |
1,892
|
3,630
|
| Net cash used in operating activities |
(6,386)
|
(11,637)
|
| Investing activities |
|
|
| Purchases of capital assets and intangibles |
(9,886)
|
(73)
|
| Acquisition of business, net of cash acquired |
0
|
(37,210)
|
| Net cash used in investing activities |
(9,886)
|
(37,283)
|
| Financing activities |
|
|
| Repayments of long-term debt |
(1,000)
|
(1,000)
|
| Proceeds from revolver |
48,000
|
31,000
|
| Repayments of revolver |
(48,000)
|
(31,000)
|
| Proceeds from exercise of stock options |
602
|
1,309
|
| Payments of employee withholding taxes on share-based compensation |
(683)
|
(785)
|
| Net cash used in financing activities |
(1,081)
|
(476)
|
| Exchange rate effect on cash |
(618)
|
690
|
| Net change in cash |
(17,971)
|
(48,706)
|
| Cash-beginning of year |
66,145
|
77,453
|
| Cash-end of period |
48,174
|
28,747
|
| Supplemental disclosure of cash flow information: |
|
|
| Interest paid |
988
|
991
|
| Income taxes (refunded) paid |
(296)
|
|
| Income taxes (refunded) paid |
|
198
|
| Non-cash investing activities: |
|
|
| Purchase of capital assets on account |
$ (966)
|
$ 0
|