| Apr'19 | Apr'18 | Apr'17 | Apr'16 | Apr'15 | Apr'14 | Apr'13 | Apr'12 | Apr'11 | Apr'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net income | |||||||||
18,410 | 20,128 | 127,854 | 93,958 | 49,613 | 89,305 | 78,713 | 16,105 | -82,769 | 32,510 |
Adjustments to reconcile net income to net cash (used in)/provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
53,859 | 52,075 | 50,213 | 41,237 | 30,893 | 21,704 | 16,730 | 15,487 | 13,230 | 13,623 |
Loss on sale of discontinued operations | |||||||||
- | - | - | - | - | - | -1,222 | -5,688 | - | 0 |
Loss/(gain) on sale/disposition of assets | |||||||||
454 | -44 | -99 | -256 | -267 | -150 | -315 | -285 | -202 | -516 |
Provision for losses on notes and accounts receivable | |||||||||
1,060 | 991 | 1,546 | 511 | 122 | -214 | 720 | -465 | 1,379 | -278 |
Impairment of long-lived tangible assets | |||||||||
- | 282 | - | - | - | - | - | - | 90,503 | - |
Goodwill impairment | |||||||||
10,396 | - | - | - | - | - | - | - | - | - |
Deferred income taxes | |||||||||
-2,795 | -8,775 | -7,840 | -4,448 | 2,341 | -1,463 | -4,009 | 1,558 | 480 | 6,927 |
Change in fair value of contingent consideration | |||||||||
-60 | -1,640 | - | - | - | - | - | - | 3,060 | 9,587 |
Change in disposal group assets and liabilities | |||||||||
- | - | - | - | - | - | -1,215 | 5,467 | 10,143 | - |
Stock-based compensation expense | |||||||||
7,992 | 7,815 | 8,590 | 6,472 | 5,808 | 8,212 | 4,073 | 2,484 | 1,680 | 3,284 |
Changes in operating assets and liabilities: | |||||||||
Excess book deduction of stock-based compensation | |||||||||
- | - | - | - | - | - | - | 144 | 739 | 148 |
Accounts receivable | |||||||||
28,997 | -51,380 | 40,709 | 2,254 | -10,983 | 9,588 | -1,505 | -5,089 | 1,443 | 14,872 |
Inventories | |||||||||
10,533 | 16,971 | 22,171 | 804 | -25,662 | 23,744 | 7,702 | 9,235 | 1,732 | 5,024 |
Prepaid expenses and other current assets | |||||||||
-359 | -514 | 1,619 | -1,999 | 569 | 1,856 | 285 | -950 | 1,680 | 298 |
Income taxes | |||||||||
-1,780 | -5,848 | 13,745 | 328 | -8,965 | 1,534 | 3,384 | -4,804 | 657 | -7,986 |
Accounts payable | |||||||||
3,392 | -20,998 | 1,233 | 13,048 | -7,345 | 6,468 | 2,602 | -8,716 | 11,712 | 3,703 |
Accrued payroll and incentives | |||||||||
10,959 | -10,754 | 988 | 11,228 | -9,525 | 2,720 | 3,489 | 3,693 | -4,031 | 1,357 |
Accrued profit sharing | |||||||||
1,547 | -11,721 | 1,545 | 5,294 | -4,895 | 1,473 | 1,547 | 3,959 | -3,118 | 991 |
Accrued expenses and deferred revenue | |||||||||
-7,193 | -8,424 | 21,238 | 3,929 | 1,361 | -467 | -5,125 | - | - | - |
Accrued taxes other than income | |||||||||
- | - | - | - | - | - | 1,079 | -7,151 | 8,892 | -169 |
Accrued warranty | |||||||||
-1,224 | 1,915 | -1,415 | -275 | 891 | -244 | 408 | 2,169 | -529 | -580 |
Accrued other expenses | |||||||||
- | - | - | - | - | - | - | -877 | 2,374 | 1,369 |
Accrued product/municipal liability | |||||||||
- | - | - | - | - | - | - | -1,187 | -193 | -641 |
Other assets | |||||||||
671 | 417 | -1,029 | 237 | 348 | 356 | 1,930 | 189 | 1,453 | 72 |
Other non-current liabilities | |||||||||
-377 | 351 | -3,260 | -1,029 | 583 | -360 | 1,327 | 714 | -1,186 | -1,533 |
Net cash (used in)/provided by operating activities | |||||||||
57,450 | 61,643 | 123,576 | 168,557 | 114,807 | 90,206 | 98,098 | 37,372 | 38,359 | 23,092 |
Cash flows from investing activities: | |||||||||
Acquisition of businesses, net of cash acquired | |||||||||
1,772 | 23,120 | 211,069 | 1,220 | 159,242 | - | - | - | - | - |
Payments to acquire PowerTech, Inc. | |||||||||
- | - | - | - | - | - | - | - | - | 21,074 |
Proceeds from sale of the net assets of SWSS LLC | |||||||||
- | - | - | - | - | - | 7,500 | - | - | - |
Refunds on machinery and equipment | |||||||||
- | - | -2,776 | 1,128 | -1,431 | 9,269 | - | - | - | - |
Receipts from note receivable | |||||||||
74 | - | 65 | 84 | 81 | 77 | 73 | 19 | - | - |
Proceeds from sale of business | |||||||||
- | - | - | - | - | - | - | 500 | - | - |
Payments to acquire patents and software | |||||||||
516 | 560 | 638 | 315 | 392 | 243 | 102 | 164 | 149 | 889 |
Proceeds from sale of property and equipment | |||||||||
1,336 | 6 | - | 61 | 264 | 101 | 1,040 | 26 | 53 | 23 |
Payments to acquire property and equipment | |||||||||
33,949 | 18,490 | 34,876 | 29,474 | 28,199 | 53,282 | 41,421 | 13,770 | 19,837 | 16,831 |
Net cash used in investing activities | |||||||||
-34,827 | -42,164 | -243,742 | -31,992 | -186,057 | -62,616 | -32,910 | -13,389 | -19,933 | -38,771 |
Cash flows from financing activities: | |||||||||
Proceeds from loans and notes payable | |||||||||
50,000 | 150,000 | 100,000 | 105,000 | 175,000 | 101,584 | 1,753 | 1,532 | 51,365 | 2,950 |
Cash paid for debt issuance costs | |||||||||
- | 158 | 525 | 1,024 | 2,558 | 3,791 | - | 1,850 | 1,145 | 81 |
Proceeds from energy efficiency incentive programs | |||||||||
- | - | - | - | - | - | - | 225 | - | - |
Payments on finance lease obligation | |||||||||
741 | 646 | 558 | 596 | 596 | 596 | 600 | - | - | - |
Proceeds from issuance of common stock, net of issuance costs | |||||||||
- | - | - | - | - | - | - | - | - | 35,017 |
Cash paid for redemption of convertible notes | |||||||||
- | - | - | - | - | - | - | 30,000 | - | - |
Payments on notes and loans payable | |||||||||
81,300 | 181,300 | 56,300 | 104,725 | 100,000 | 45,143 | 8,195 | 1,532 | 51,365 | 23,283 |
Proceeds from Economic Development Incentive Program | |||||||||
- | - | 101 | - | 640 | 722 | - | 4,400 | - | - |
Payments to acquire treasury stock | |||||||||
- | - | 50,052 | - | 30,040 | 115,887 | 20,000 | - | - | - |
Proceeds from exercise of options to acquire common stock, including employee stock purchase plan | |||||||||
2,222 | 2,213 | 2,442 | 11,265 | 3,103 | 3,315 | 4,808 | 1,667 | 1,206 | 1,232 |
Payment of employee withholding tax related to restricted stock units | |||||||||
649 | 2,277 | 4,672 | 2,646 | 1,708 | 2,068 | 209 | - | 50 | 123 |
Excess tax benefit of stock-based compensation | |||||||||
- | - | - | 5,218 | 771 | 2,647 | 1,025 | - | - | - |
Net cash provided by/(used in) financing activities | |||||||||
-30,468 | -32,168 | -9,564 | 12,492 | 44,612 | -59,217 | -21,418 | -25,558 | 11 | 15,712 |
Net increase/(decrease) in cash and cash equivalents | |||||||||
-7,845 | -12,689 | -129,730 | 149,057 | -26,638 | -31,627 | 43,770 | -1,575 | 18,437 | 33 |
Supplemental disclosure of cash flow information Cash paid for: | |||||||||
Interest | |||||||||
9,473 | 10,624 | 7,650 | 13,007 | 8,617 | 7,688 | 5,295 | 5,865 | 3,820 | 3,614 |
Income taxes | |||||||||
10,567 | 1,387 | 85,216 | 50,924 | 16,926 | 48,778 | 44,087 | 3,963 | 2,146 | 16,729 |
Supplemental Disclosure of Non-cash Investing and Financing Activities: | |||||||||
Purchases of property and equipment included in accounts payable | |||||||||
565 | 2,406 | 2,474 | 2,005 | - | - | - | - | - | - |
Change in fair value of interest rate swap | |||||||||
1,393 | 1,531 | 1,860 | - | - | - | - | - | - | - |
Contingent consideration | |||||||||
- | 100 | 1,700 | - | - | - | - | - | - | - |
Purchases of property and equipment funded by capital lease | |||||||||
24,271 | 21,974 | - | - | - | - | - | - | - | - |
Debt issue costs not paid at year end | |||||||||
- | - | - | - | - | - | - | - | 1,837 | - |
Capital lease obligation | |||||||||
24,271 | 21,974 | - | - | - | - | - | 3,281 | - | - |
Changes in note receivable | |||||||||
1,007 | - | - | - | - | - | - | - | - | - |
Shares issued in connection with the acquisition of Smith & Wesson Security Solutions, Inc. (Note 3) | |||||||||
- | - | - | - | - | - | - | - | 15,178 | - |