| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 | Dec'16 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | |||||||||||||
Net income (loss) | |||||||||||||
7,910 | 53,506 | 1,954 | 4,290 | 1,573 | -16,288 | -3,128 | 1,037 | 12,980 | -3,005 | 12,960 | 1,755 | 4,895 | -13,200 |
Reconciliation of net income (loss) to cash flows provided by operating activities: | |||||||||||||
Depreciation and amortization | |||||||||||||
27,371 | 25,143 | 26,839 | 24,145 | 24,162 | 23,090 | 23,936 | 21,561 | 20,480 | 19,883 | 22,073 | 18,293 | 18,873 | 18,647 |
Amortization of debt related costs (includes $1,795 and $0 write off of deferred financing fees) | |||||||||||||
2,402 | 701 | 696 | 685 | 675 | 556 | 3,147 | 781 | 303 | 3,842 | 2,541 | 1,394 | 1,003 | 3,573 |
Deferred income taxes | |||||||||||||
-530 | -679 | 6,063 | 7,296 | -10,645 | -766 | 1,840 | -2,059 | -2,925 | -3,088 | 1,380 | 10,908 | -3,951 | -7,064 |
Share-based compensation | |||||||||||||
2,304 | 3,680 | 5,655 | 4,978 | 4,745 | 4,525 | 4,485 | 4,395 | 4,250 | 2,612 | 617 | 614 | 554 | 466 |
Loss (gain) on sale of property, plant and equipment | |||||||||||||
3 | -173 | 344 | 466 | 22 | 100 | 243 | 6,609 | 80 | -182 | -881 | -795 | -18 | 464 |
Gain on sale of business | |||||||||||||
9,772 | 58,279 | - | - | 0 | 0 | - | - | - | - | - | - | - | - |
Foreign currency exchange losses on intercompany loans and other non-cash items | |||||||||||||
-7,600 | 6,086 | -6,711 | 1,226 | -567 | -4,661 | -707 | -7,993 | 1,351 | 1,583 | 4,136 | 6,584 | 2,390 | -7,485 |
Changes in assets and liabilities | |||||||||||||
Accounts receivable | |||||||||||||
3,831 | -11,087 | 20,730 | 13,105 | -7,605 | -12,995 | 17,648 | 14,437 | -10,082 | -18,864 | 37,593 | 1,361 | -6,895 | 11,988 |
Inventories | |||||||||||||
3,187 | 14,613 | -16,195 | 3,489 | -6,327 | 20,502 | -8,334 | 5,449 | 6,677 | 8,259 | -2,016 | -862 | 2,203 | 6,623 |
Contract assets | |||||||||||||
8,419 | -3,042 | 16,915 | -1,247 | 15,379 | -7,220 | -14,975 | 10,671 | 9,753 | -1,905 | 8,396 | 10,301 | 4,279 | -5,680 |
Prepaids and other current assets | |||||||||||||
3,084 | 631 | -2,187 | 227 | -1,499 | -5,988 | -1,786 | 403 | 6,094 | -938 | -6,168 | 8,049 | -254 | 1,344 |
Accounts payable | |||||||||||||
17,060 | -11,056 | 12,227 | 6,056 | 268 | -9,143 | -1,965 | 4,089 | 23,334 | -513 | 5,716 | 543 | 13,213 | -14,765 |
Accrued expenses and other liabilities | |||||||||||||
-7,416 | -9,378 | 10,419 | -8,400 | 4,216 | -15,394 | 10,697 | -2,738 | 2,000 | -32,810 | 8,435 | 2,474 | -2,475 | -10,677 |
Contract liabilities | |||||||||||||
-9,571 | 4,651 | 8,260 | 7,277 | -6,238 | 12,012 | -3,687 | -3,535 | -11,345 | 9,313 | 1,052 | 1,454 | -2,672 | 1,467 |
Income taxes | |||||||||||||
752 | 1,388 | 3,135 | -5,044 | 2,761 | -4,503 | -694 | 1,622 | 4,190 | -2,341 | 7,837 | 2,316 | -1,666 | -1,831 |
Other non‑current assets and liabilities | |||||||||||||
2,335 | -2,083 | -8,487 | -2,996 | -1,096 | 217 | -1,687 | 640 | 3,124 | 359 | 8,841 | -1,025 | -2,414 | -1,809 |
Net cash provided by operating activities | |||||||||||||
17,251 | 4,732 | 70,839 | 27,013 | 23,210 | 4,134 | 44,229 | -5,063 | 36,270 | 5,581 | 12,710 | 16,138 | 28,483 | -28,829 |
Investing activities | |||||||||||||
Payments to Acquire Property, Plant, and Equipment | |||||||||||||
21,187 | 17,572 | 24,921 | 23,266 | 23,113 | 17,569 | 26,144 | 22,899 | 16,413 | 15,257 | 17,300 | 13,246 | 13,626 | 13,603 |
Purchase of intangibles | |||||||||||||
412 | 210 | 1,651 | 1,877 | 2,557 | 341 | 414 | 1,245 | 291 | 0 | - | - | - | - |
Proceeds from sale of property, plant and equipment | |||||||||||||
20 | 251 | 776 | -15 | 2,638 | 237 | 8,394 | 12,708 | 152 | 387 | 201 | 4,796 | -321 | 746 |
Proceeds from sale of business, net of cash of $12,117 | |||||||||||||
9,973 | 108,921 | - | - | 0 | 0 | - | - | - | - | - | - | - | - |
Acquisitions, net of $0 cash received | |||||||||||||
4 | 11,160 | 62 | 4,859 | -2,048 | 0 | - | - | - | - | -209 | 67,107 | 0 | 10,730 |
Net cash provided by (used in) investing activities | |||||||||||||
-11,610 | 80,230 | -25,858 | -30,017 | -20,984 | -17,673 | -154,372 | -11,017 | -26,776 | -14,870 | -17,629 | -79,322 | -14,357 | -23,587 |
Financing activities | |||||||||||||
Issuance of debt, net of deferred issuance costs | |||||||||||||
- | 3,532 | - | - | - | 4,022 | 151,876 | 5,186 | 0 | -1,792 | 258,502 | 7,100 | 0 | 150,000 |
Capitalized deferred issuance costs related to refinancing | |||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 0 | 270 | 3,928 |
Borrowings under credit facility | |||||||||||||
2,584 | 13 | 62,825 | 115,000 | 100,000 | 15,000 | 82,188 | 40,812 | 0 | 6,000 | 18,000 | 80,000 | 18,000 | 15,000 |
Repayment of debt | |||||||||||||
105,540 | 3,793 | 68,901 | 118,052 | 102,965 | 17,891 | 87,718 | 43,591 | 2,498 | 108,663 | 267,112 | 23,568 | 21,380 | 111,358 |
Repayment of capital lease obligation | |||||||||||||
2,532 | 4,162 | 3,627 | 4,348 | 1,640 | 3,285 | 4,484 | 501 | 3,206 | 2,283 | 3,120 | 2,186 | 543 | 2,113 |
Payment of earn-out related to previous acquisitions | |||||||||||||
- | 175 | - | - | - | 0 | - | - | - | - | - | - | - | - |
Proceeds from issuance of common stock | |||||||||||||
11,324 | 4,046 | 22 | 0 | 273 | 68 | 0 | 0 | 0 | 137,605 | 0 | 1,370 | 99 | 4,052 |
Taxes paid related to net share settlements of share-based compensation awards | |||||||||||||
0 | 0 | 22 | 312 | 921 | 15 | 1,040 | 399 | 7,368 | 0 | - | - | - | - |
Stock repurchases | |||||||||||||
- | - | - | - | - | - | 0 | 0 | 0 | 230 | 398 | 533 | 423 | 120 |
Cash paid for interest rate cap | |||||||||||||
0 | 0 | 0 | 0 | 0 | 2,235 | 0 | 0 | 0 | 0 | - | - | - | - |
Distribution to non‑controlling interest | |||||||||||||
200 | 1,250 | 400 | 150 | 0 | 600 | 1,300 | 875 | 1,050 | 500 | 0 | 1,250 | 2,750 | 750 |
Net cash used in financing activities | |||||||||||||
-89,684 | -1,789 | 12,313 | -2,560 | 927 | -4,936 | 135,713 | -1,087 | -14,122 | 30,137 | 10,070 | 60,933 | -7,267 | 50,783 |
Effect of exchange rate changes on cash | |||||||||||||
-2,365 | 1,849 | -1,244 | -64 | 431 | -724 | -512 | -1,268 | 120 | 148 | 86 | 1,266 | -3,438 | 2,852 |
Change in cash and cash equivalents | |||||||||||||
-86,408 | 85,022 | 48,759 | -5,628 | 3,584 | -19,199 | 25,058 | -18,435 | -4,508 | 20,996 | 5,237 | -985 | 3,421 | 1,219 |
Supplemental disclosure of cash flow information | |||||||||||||
Cash paid for taxes | |||||||||||||
751 | 1,382 | 1,609 | 4,146 | 3,548 | 1,037 | 430 | 1,943 | 1,891 | 186 | 682 | 576 | 522 | 1,237 |
Cash paid for interest | |||||||||||||
10,685 | 12,268 | 13,377 | 13,229 | 12,857 | 13,323 | 12,417 | 10,676 | 9,754 | 10,749 | 11,880 | 10,842 | 10,254 | 10,450 |
Non‑cash investing and financing activities | |||||||||||||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | |||||||||||||
- | 1,782 | - | - | - | 2,584 | - | - | - | - | - | - | - | - |
Finance lease transactions | |||||||||||||
-426 | 4,734 | 6,852 | 3,492 | 8,296 | 0 | 5,320 | 1,327 | 1,612 | 2,336 | 2,827 | 5,632 | 6,662 | 392 |
Option and Purchase Right | |||||||||||||
-506 | 7,673 | - | - | 0 | 0 | - | - | - | - | - | - | - | - |