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Cash Flow

Cash Flow

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (1,715) $ (545)
Adjustments to reconcile net loss to cash provided by operating activities:    
Depreciation and amortization 2,798 5,359
Provision for doubtful accounts 47 245
Stock-based compensation expense 1,121 0
Amortization of debt issuance costs 144 90
Deferred income tax benefit (750) (679)
Accretion of preferred stock discount to redemption value 0 4
(Gain) loss on sale of property and equipment (40) 136
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (8,060) 11,218
(Increase) decrease in costs and estimated earnings in excess of billings on uncompleted contracts 283 1,840
(Increase) decrease in other current assets (1,394) (72)
(Increase) decrease in other assets (289) 0
Increase (decrease) in accounts payable (6,017) (11,201)
Increase (decrease) in billings in excess of costs and estimated earnings on uncompleted contracts 15,407 (8,987)
Increase (decrease) in accrued taxes (2,222) 0
Increase (decrease) in accrued expenses and other current liabilities 1,112 2,789
Increase (decrease) in other long-term liabilities 255 97
Net cash provided by operating activities 680 294
Cash flows from investing activities:    
Proceeds from sale of property and equipment 123 7
Purchase of property and equipment (2,117) (1,656)
Net cash used in investing activities (1,994) (1,649)
Cash flows from financing activities:    
Increase in bank overdrafts 4,869 0
Payments on Credit Agreement term loan (1,500) (3,365)
Proceeds from Credit Agreement revolver 67,039 44,553
Payments on Credit Agreement revolver (66,594) (44,553)
Payments on term loan 0 (33)
Proceeds from Bridge Term Loan 10,000 0
Payments on Bridge Term Loan (1,764) 0
Payments on financed insurance premium 0 (1,164)
Payments on capital leases (957) (804)
Convertible preferred stock redeemed (9,191) 0
Convertible preferred stock dividends paid (875) 0
Taxes paid related to net-share settlement of equity awards (83) 0
Net cash provided by (used in) financing activities 944 (5,366)
Decrease in cash and cash equivalents (370) (6,721)
Cash and cash equivalents, beginning of period 626 7,406
Cash and cash equivalents, end of period 256 685
Noncash investing and financing transactions:    
Property and equipment acquired financed with capital leases 1,521 718
Interest paid 1,184 927
Financed insurance premium $ 0 $ 2,135

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