Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (5,219) $ (417)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization 4,216 7,383
Provision for doubtful accounts 57 289
Stock-based compensation expense 1,663 924
Amortization of debt issuance costs 229 135
Deferred income tax benefit (1,031) (349)
Accretion of preferred stock discount to redemption value 0 19
(Gain) loss on sale of property and equipment (76) 130
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (11,043) (5,712)
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts 599 2,280
(Increase) decrease in other current assets (33,976) 71
(Increase) decrease in other assets 430 1
Increase (decrease) in accounts payable (7,300) (704)
Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts 23,877 (6,123)
Increase (decrease) in accrued taxes (2,220) 0
Increase (decrease) in accrued expenses and other current liabilities 31,687 (3,206)
Increase (decrease) in other long-term liabilities 326 (62)
Net cash provided by (used in) operating activities 2,219 (5,341)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 160 48
Advances to joint ventures 1 (1)
Purchase of property and equipment (3,448) (2,329)
Net cash used in investing activities (3,287) (2,282)
Cash flows from financing activities:    
Increase in bank overdrafts 757 0
Payments on Credit Agreement term loan (2,400) (4,115)
Proceeds from Credit Agreement revolver 101,016 74,762
Payments on Credit Agreement revolver (94,698) (62,547)
Payments on term loan 0 (33)
Proceeds from Bridge Term Loan 10,000 0
Payments on Bridge Term Loan (2,014) 0
Payments on financed insurance premium 0 (1,747)
Payments on capital leases (1,417) (1,250)
Convertible preferred stock redeemed (9,191) (4,092)
Convertible preferred stock dividends paid (875) 0
Taxes paid related to net-share settlement of equity awards (210) 0
Net cash provided by financing activities 968 978
Decrease in cash and cash equivalents (100) (6,645)
Cash and cash equivalents, beginning of period 626 7,406
Cash and cash equivalents, end of period 526 761
Noncash investing and financing transactions:    
Property and equipment acquired financed with capital leases 1,989 1,344
Interest paid 2,125 1,427
Financed insurance premium $ 0 $ 2,135