| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net (loss) income | ||||||||||
14,846 | 28,723 | 12,623 | 1,590 | 7,845 | 16,787 | 14,202 | 12,321 | 12,048 | 8,404 | 5,195 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||||||
Deferred income taxes | ||||||||||
-4,783 | -7,124 | 4,166 | -4,149 | 5 | -729 | -632 | 1,198 | -5 | -3,074 | -792 |
Noncash stock compensation expense | ||||||||||
10,194 | 9,289 | 9,022 | 13,134 | 14,023 | 4,405 | 3,338 | 2,726 | 1,343 | 592 | 521 |
Noncash interest expense | ||||||||||
7,345 | 9,077 | 8,065 | 7,614 | 4,867 | 0 | 0 | - | - | - | - |
Change in contingent consideration due to seller | ||||||||||
1,050 | 410 | 1,070 | -113 | 201 | 2,160 | 101 | -129 | -246 | 4,700 | 982 |
Change in contingent consideration due from seller | ||||||||||
0 | 0 | 79 | -5 | 0 | 0 | - | - | - | - | - |
Loss on disposal of assets | ||||||||||
0 | 0 | -13 | -409 | 0 | 0 | - | - | - | - | - |
Acquisition related impairment loss | ||||||||||
- | - | - | - | - | - | - | 2,490 | 0 | 0 | - |
Depreciation and amortization | ||||||||||
38,387 | 36,638 | 32,728 | 32,138 | 24,142 | 13,876 | 10,564 | 9,139 | 8,329 | 6,926 | 4,990 |
Change in assets: | ||||||||||
Accounts receivable | ||||||||||
-50,469 | 12,700 | 78,303 | 35,010 | -12,508 | 24,018 | 10,955 | 1,550 | 23,887 | 15,353 | 16,540 |
Income taxes (payable) receivable | ||||||||||
469 | 2,542 | 2,858 | -8,534 | -1,464 | -631 | -633 | -67 | -761 | 469 | 436 |
Prepaid expenses and other assets | ||||||||||
700 | 4,492 | -1,440 | 5,528 | 450 | 2,401 | 53 | -2,310 | -3,613 | 1,131 | 3,274 |
Change in liabilities: | ||||||||||
Accounts payable | ||||||||||
-28,586 | 11,225 | 58,056 | 31,401 | 5,745 | 11,460 | 4,713 | -4,763 | 15,153 | 10,425 | 6,351 |
Accrued expenses and other liabilities | ||||||||||
-12,628 | 6,783 | 5,389 | 18,481 | 3,421 | 9,994 | 2,891 | 1,510 | 149 | -64 | -1,508 |
Payments of contingent consideration in excess of costs over estimated earnings | ||||||||||
1,097 | 375 | 0 | 0 | - | - | - | - | - | - | - |
Net cash provided by operating activities | ||||||||||
84,532 | 94,245 | 48,716 | 59,736 | 70,836 | 32,362 | 24,803 | 22,787 | 15,749 | 8,642 | -5,602 |
Investing activities | ||||||||||
Purchases of property and equipment | ||||||||||
23,926 | 24,101 | 20,729 | 46,888 | 14,744 | 15,155 | 9,238 | 8,860 | 6,372 | 6,214 | 4,273 |
Investments in business entities | ||||||||||
0 | 1,000 | 0 | 0 | - | - | - | - | - | - | - |
Payments for acquisitions, net of cash acquired | ||||||||||
33 | 6,720 | 0 | 0 | 390,395 | 33,768 | 1,958 | 16,425 | 4,972 | 8,623 | 7,226 |
Net cash used in investing activities | ||||||||||
-23,959 | -31,821 | -20,729 | -46,888 | -405,139 | -48,923 | -11,197 | -25,285 | -11,344 | -14,838 | -11,499 |
Financing activities | ||||||||||
Receipt of contingent consideration due from seller | ||||||||||
0 | 0 | 500 | 750 | 0 | 0 | - | - | - | - | - |
Payments of contingent consideration due to seller | ||||||||||
1,206 | 550 | 695 | 2,274 | 2,945 | 4,859 | 3,615 | 5,170 | 1,305 | 0 | 0 |
Tax benefit of stock options exercised | ||||||||||
- | - | - | 1,661 | 2,222 | 1,495 | 460 | 1,092 | 154 | 790 | 112 |
Proceeds from exercise of stock options | ||||||||||
37 | 4,230 | 1,539 | 1,157 | 1,057 | 1,077 | 1,130 | - | - | - | - |
Employee tax withholdings related to net share settlements of equity-based awards | ||||||||||
2,131 | 2,623 | 1,793 | 4,869 | 1,922 | 1,116 | 832 | 193 | 0 | 0 | - |
Purchases of treasury stock | ||||||||||
29,014 | 9,497 | 20,669 | 49,149 | 0 | 0 | - | - | - | - | - |
Purchases of Convertible Notes | ||||||||||
33,915 | 37,217 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from borrowing on ABL facility | ||||||||||
- | - | - | - | 34,782 | 5,000 | 0 | 0 | - | - | - |
Repayments of amounts borrowed on ABL facility | ||||||||||
- | - | - | - | 34,782 | 5,000 | 0 | 0 | - | - | 5,000 |
Proceeds from borrowing on ABL facility | ||||||||||
35,000 | 12,000 | 84,000 | 48,500 | 40,000 | 0 | - | - | - | - | - |
Repayments of amounts borrowed on ABL facility | ||||||||||
35,000 | 12,000 | 84,000 | 48,500 | 40,000 | 0 | - | - | - | - | - |
Borrowings on subordinated debt from related party | ||||||||||
- | - | - | - | - | - | - | - | - | - | 7,500 |
Payments on subordinated debt from related party | ||||||||||
- | - | - | - | - | - | - | - | - | - | 7,500 |
Payment of costs associated with initial public offering | ||||||||||
- | - | - | - | - | - | - | - | - | 327 | 2,676 |
Proceeds from sale of common stock, net of underwriting discounts and commissions | ||||||||||
- | - | - | - | 158,412 | 0 | - | 1,717 | 797 | 1,449 | 152 |
Proceeds from issuance of convertible notes, net of underwriting discounts and commissions | ||||||||||
- | - | - | - | 223,100 | 0 | - | - | - | - | - |
Payment of common stock and debt issuance costs | ||||||||||
- | - | - | - | 4,133 | 0 | - | - | - | - | - |
Payment to former owners of One Stop Logistics | ||||||||||
- | - | - | - | 17,507 | 0 | - | - | - | - | - |
Repayments of Long-term Capital Lease Obligations | ||||||||||
- | - | - | - | - | - | 24 | 175 | 262 | 302 | 246 |
Payment of dividends on preferred shares | ||||||||||
- | - | - | - | - | - | - | - | - | - | 3,522 |
Initial public offering proceeds | ||||||||||
- | - | - | - | - | - | - | - | - | - | 74,214 |
Net cash used in financing activities | ||||||||||
-66,229 | -45,657 | -21,117 | -52,724 | 358,283 | -3,403 | -2,880 | -2,729 | -615 | 1,610 | 63,032 |
Increase (Decrease) in cash and cash equivalents | ||||||||||
-5,656 | 16,766 | 6,869 | -39,876 | 23,980 | -19,964 | 10,725 | -5,226 | 3,789 | -4,585 | 45,930 |
Supplemental disclosure of cash flow information | ||||||||||
Cash paid during the period for interest | ||||||||||
5,430 | 6,594 | 6,720 | 6,913 | 5,450 | 105 | 1 | 9 | 21 | 51 | 741 |
Cash paid during the year for income taxes | ||||||||||
5,173 | 174 | 259 | 3,100 | 3,074 | 8,901 | 8,191 | 8,038 | 7,337 | 581 | 125 |
Cash received during the period for income taxes refunded | ||||||||||
3,363 | 189 | 6,659 | 0 | 0 | - | - | - | - | - | - |
Issuance of common stock in connection with Command acquisition | ||||||||||
- | - | - | - | 14,746 | 0 | 0 | 4,000 | 0 | 0 | - |
Issuance of common stock in connection with Mountain Logistics acquisition | ||||||||||
- | - | - | - | - | - | - | - | - | - | 3,850 |
Purchases of furniture and equipment with capital lease | ||||||||||
- | - | - | - | - | - | - | - | - | - | 353 |
Vesting of restricted shares | ||||||||||
- | - | - | - | - | - | - | - | - | - | 78 |
Fair value of due to seller obligation at acquisition date | ||||||||||
- | - | - | - | 1,500 | 880 | 0 | 3,111 | 4,610 | 8,633 | 7,252 |
Liability for purchases of treasury stock not yet settled | ||||||||||
909 | 255 | 0 | 0 | 784 | 0 | 0 | - | - | - | - |
Current liability to former owners of One Stop Logistics | ||||||||||
- | - | - | - | - | 17,507 | 0 | 0 | - | - | - |