Mobile Navigation

Cash Flow

Cash Flow

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (2,424) $ (1,214)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization 1,371 2,646
Allowance for doubtful accounts 20 266
Stock-based compensation expense 467 0
Amortization of debt issuance costs 68 45
Deferred income tax benefit (1,043) (1,083)
Accretion of preferred stock discount to redemption value 0 2
(Gain) loss on sale of property and equipment (16) 37
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable 2,481 6,231
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts 3,037 2,237
(Increase) decrease in other current assets (1,129) (573)
(Increase) decrease in other assets (210) 0
Increase (decrease) in accounts payable (5,362) (3,197)
Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts 2,639 (5,075)
Increase (decrease) in accrued taxes (134) 0
Increase (decrease) in accrued expenses and other current liabilities (16) (4,955)
Increase (decrease) in other long-term liabilities 177 (94)
Net cash used in operating activities (74) (4,727)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 71 7
Decrease (increase) in advances to joint ventures 1 0
Purchase of property and equipment (775) (630)
Net cash used in investing activities (703) (623)
Cash flows from financing activities:    
Increase (decrease) in bank overdrafts (4,299) 0
Payments on Credit Agreement term loan (750) (750)
Proceeds from Credit Agreement revolver 41,296 13,034
Payments on Credit Agreement revolver (34,849) (7,034)
Payments on term loan 0 (20)
Proceeds from Bridge Term Loan 10,000 0
Payments on Bridge Term Loan (250) 0
Payments on financed insurance premium 0 (591)
Payments on capital leases (475) (404)
Convertible preferred stock redeemed (9,191) 0
Convertible preferred stock dividends paid (875) 0
Taxes paid related to net-share settlement of equity awards (81) 0
Net cash provided by financing activities 526 4,235
Decrease in cash and cash equivalents (251) (1,115)
Cash and cash equivalents, beginning of period 626 7,406
Cash and cash equivalents, end of period 375 6,291
Noncash investing and financing transactions:    
Property and equipment acquired financed with capital leases 718 393
Interest paid 729 409
Financed insurance premium $ 0 $ 2,135

Source