| Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net income (loss) | |||||||||
-7,849 | 19,264 | 38,735 | 10,563 | 11,453 | 107,359 | -91,511 | -48,514 | 12,220 | 9,646 |
Less income from discontinued operations | |||||||||
- | - | - | - | - | 100,877 | -106,069 | -62,862 | - | - |
Income from continuing operations | |||||||||
- | - | - | - | - | 6,482 | 14,558 | 14,348 | - | - |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||||||||
Depreciation and amortization | |||||||||
6,135 | 3,798 | 3,101 | 2,315 | 1,851 | 2,003 | 2,076 | 2,692 | 3,126 | 3,238 |
Amortization of intangible assets | |||||||||
1,194 | 710 | 613 | 621 | 670 | 739 | 773 | 774 | 774 | 644 |
Amortization of deferred gain on sale-leaseback | |||||||||
- | - | - | - | - | - | - | - | 307 | 524 |
Amortization and write-off of debt issuance costs | |||||||||
951 | 1,060 | 716 | 790 | 1,702 | 4,574 | 1,702 | 576 | 86 | 35 |
Write-off of debt issuance costs | |||||||||
- | - | - | 5,108 | 0 | 0 | - | - | - | - |
Refers to the amortization of interest on accrued core payments. | |||||||||
909 | 670 | 704 | 736 | 0 | 0 | - | - | - | - |
The amount amortization of core premiums paid to customers. | |||||||||
4,127 | 3,588 | 3,232 | - | - | - | - | - | - | - |
Gain due to the change in the fair value of the warrant liability | |||||||||
0 | -2,313 | -3,764 | 5,137 | -459 | -10,443 | - | - | - | - |
Amount of gain (loss) recognized on the income statement related to adjustment to fair value of contingent consideration. | |||||||||
-324 | 0 | 16 | 990 | 0 | 0 | - | - | - | - |
(Gain) loss on short-term investments | |||||||||
89 | 0 | 0 | - | - | - | - | - | - | - |
Gain on extinguishment of warrant liability | |||||||||
- | - | - | - | - | 216 | 0 | 0 | - | - |
Amortization of finished goods inventory step-up valuation | |||||||||
- | - | - | - | - | - | - | - | 0 | 0 |
Loss due to change in fair value measurements using significant unobservable inputs | |||||||||
- | - | - | - | - | - | -389 | 0 | 0 | - |
Gain on redemption of short-term investment | |||||||||
- | - | - | - | 4 | 0 | 0 | - | 25 | -5 |
Net provision for inventory reserves | |||||||||
11,153 | 8,491 | 3,864 | 4,518 | 1,635 | 1,620 | 1,814 | 3,216 | 1,804 | 878 |
Amount of recovery of customer payment discrepancies which had been fully or partially written-off. | |||||||||
731 | 998 | 718 | -299 | 91 | - | - | - | - | - |
Amount of provisions for the amount of expense related to write-down of receivables to the amount expected to be collected and (recoveries) of receivables doubtful of collection that were previously charged off. | |||||||||
224 | 21 | 3 | - | - | - | - | - | - | - |
Net (recovery of) provision for customer payment discrepancies | |||||||||
- | - | - | - | - | -10 | 536 | 270 | 850 | 182 |
Net provision for doubtful accounts | |||||||||
- | - | - | 4,404 | 184 | -47 | 166 | -14 | -38 | 898 |
Deferred income taxes | |||||||||
-3,063 | 1,548 | 6,840 | -3,781 | 5,831 | 20,124 | 1,561 | 1,673 | 2,358 | -70 |
Share-based compensation expense | |||||||||
5,564 | 3,766 | 3,383 | 2,584 | 2,209 | 969 | 1,083 | 52 | 59 | 136 |
Loss on disposal of plant and equipment | |||||||||
-41 | -161 | -13 | -7 | -16 | -9 | -3 | -14 | -37 | -13 |
Gain on acquisition | |||||||||
- | - | - | - | - | - | - | - | - | -1,331 |
Impact of tax benefit on APIC pool from stock options exercised | |||||||||
- | - | - | - | - | 569 | 70 | 83 | 33 | 24 |
Impairment of goodwill and intangible assets | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Impairment of plant and equipment | |||||||||
- | - | - | - | - | - | - | - | 0 | 0 |
Changes in operating assets and liabilities, net of effects of acquisitions: | |||||||||
Accounts receivable | |||||||||
-10,214 | 3,298 | 9,319 | -4,647 | 2,790 | 18,342 | -5,940 | 4,113 | 5,894 | -11,917 |
Inventory | |||||||||
76,213 | 33,655 | 20,713 | -3,054 | 10,239 | 14,478 | 1,491 | 1,753 | -1,305 | 3,936 |
The net change during the reporting period in the amount recorded for the added unit value of finished goods shipped to customers that the Company expects to be returned within the normal operating cycle. | |||||||||
961 | -73 | -2,939 | 2,687 | 299 | 552 | 1,296 | 654 | 1,107 | -784 |
Income tax receivable | |||||||||
2,039 | 6,312 | 1,631 | -3,981 | - | - | - | - | - | - |
Prepaid expenses and other current assets | |||||||||
-234 | 965 | 1,307 | 1,216 | 3,451 | -3,689 | 4,063 | -2,982 | 3,527 | 1,054 |
Other assets | |||||||||
299 | 120 | 304 | 477 | 491 | 463 | 321 | 234 | 245 | 832 |
Accounts payable and accrued liabilities | |||||||||
16,572 | -11,671 | 12,447 | 6,620 | 3,621 | 18,965 | -10,300 | 12,834 | 8,885 | 7,122 |
The net change during the reporting period in the customer finished goods returns accrual. | |||||||||
4,588 | 138 | -8,709 | 6,698 | 3,427 | 1,961 | 3,242 | 1,886 | 1,707 | -1,097 |
Contract assets, net | |||||||||
2,096 | 25,028 | 24,584 | - | - | - | - | - | - | - |
Contract liabilities, net | |||||||||
-11,894 | 23,871 | -11,182 | - | - | - | - | - | - | - |
Income tax payable | |||||||||
- | - | - | - | - | - | - | - | -381 | -518 |
Deferred core revenue | |||||||||
- | - | - | - | -15,065 | 3,051 | 2,239 | 1,046 | 2,668 | 127 |
Long-term core inventory | |||||||||
- | - | - | 53,408 | 46,466 | 26,519 | 22,993 | 18,554 | 13,885 | 5,692 |
Long-term core inventory deposits | |||||||||
- | - | - | -26,002 | 2,196 | 1,766 | 671 | 955 | 216 | 1,317 |
Accrued core payment | |||||||||
- | - | - | -11,266 | 37,070 | 0 | 0 | - | - | - |
Customer core returns accrual | |||||||||
- | - | - | - | - | - | - | - | 0 | 0 |
Other liabilities | |||||||||
1,214 | 1,261 | -1,048 | 1,673 | 1,325 | 485 | 225 | -367 | 448 | -931 |
Net cash (used in) provided by operating activities | |||||||||
- | - | - | - | -9,457 | 13,290 | -4,758 | 15,802 | - | - |
Net cash provided by operating activities from discontinued operations | |||||||||
- | - | - | - | - | 227 | -26,303 | -54,290 | - | - |
Net cash used in operating activities | |||||||||
-40,328 | -13,944 | -5,269 | 15,334 | - | 13,517 | -31,061 | -38,488 | 10,735 | 18,347 |
Cash flows from investing activities: | |||||||||
Purchase of plant and equipment | |||||||||
11,149 | 9,933 | 4,929 | 3,747 | 3,734 | 2,978 | 2,330 | 1,010 | 1,566 | 1,055 |
Purchase of business | |||||||||
- | - | - | 2,701 | 0 | - | - | - | - | - |
Purchase of business, net of cash acquired | |||||||||
11,106 | 4,993 | 705 | - | - | 0 | - | - | - | 2,622 |
Purchase of businesses | |||||||||
- | - | - | - | - | - | - | - | 464 | - |
Long-term note receivable | |||||||||
- | - | - | - | - | - | - | - | 4,863 | 0 |
Change in short-term investments | |||||||||
355 | 352 | 49 | 1,134 | 134 | 54 | 41 | 37 | -170 | -11 |
Net cash used in investing activities from discontinued operations | |||||||||
- | - | - | - | - | -295 | -1,698 | -544 | - | - |
Net cash used in investing activities | |||||||||
-22,610 | -15,278 | -5,683 | -7,582 | -3,868 | -3,327 | -4,069 | -1,591 | -6,723 | -3,666 |
Cash flows from financing activities: | |||||||||
Borrowings under revolving loan | |||||||||
102,900 | 84,000 | 65,001 | 29,000 | 0 | 10,000 | 0 | 53,000 | 46,200 | 31,600 |
Repayments of revolving loan | |||||||||
46,500 | 41,000 | 61,001 | 22,000 | 10,000 | 0 | 0 | 53,000 | 46,200 | 53,200 |
Net cash used in investing activities | |||||||||
- | - | - | - | - | -3,032 | -2,371 | -1,047 | - | - |
Borrowings under term loan | |||||||||
13,594 | 0 | 0 | 25,000 | 0 | 20,000 | 10,000 | 75,000 | 0 | 10,000 |
Repayments of term loan | |||||||||
2,656 | 3,125 | 3,125 | 86,063 | 8,400 | 11,600 | 500 | 7,500 | 2,000 | 500 |
Payments for debt issuance costs | |||||||||
1,815 | 462 | 433 | 2,337 | 0 | 5,221 | 799 | 6,560 | 16 | 414 |
Payments on finance lease obligations | |||||||||
1,460 | 905 | 591 | 374 | 64 | 196 | 289 | 373 | 975 | 1,630 |
Payment of contingent consideration | |||||||||
0 | 0 | 314 | 0 | 0 | - | - | - | - | - |
Exercise of stock options | |||||||||
257 | 481 | 1,662 | 5,392 | 1,247 | 5,766 | 74 | 320 | 199 | 152 |
Excess tax benefits from stock-based compensation | |||||||||
- | - | - | 5,313 | 1,131 | 286 | 101 | 172 | 123 | 69 |
Impact of tax benefit on APIC pool from stock options exercised | |||||||||
- | - | - | - | - | - | - | - | 33 | 24 |
Cash used to net share settle equity awards | |||||||||
322 | 596 | 1,058 | 913 | 806 | 0 | 163 | 0 | 0 | - |
Repurchase of common stock, including fees | |||||||||
4,062 | 9,251 | 1,990 | 0 | 0 | 627 | 755 | 0 | 89 | 0 |
Exercise of warrant | |||||||||
0 | 4,000 | 0 | 0 | - | - | - | - | - | - |
Repurchase of warrants | |||||||||
- | - | - | - | - | 2,194 | 0 | 0 | - | - |
Proceeds from issuance of common stock | |||||||||
- | - | - | - | 71,760 | 0 | 15,004 | 1 | 1 | 0 |
Stock issuance costs | |||||||||
- | - | - | - | 4,787 | 0 | 1,034 | 0 | 0 | - |
Net cash used in financing activities from discontinued operations | |||||||||
- | - | - | - | - | -20,636 | 263 | 9,122 | - | - |
Net cash provided by financing activities | |||||||||
59,936 | 33,142 | -1,849 | -46,982 | 50,081 | -4,994 | 21,902 | 70,182 | -2,790 | -13,947 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||
-136 | 100 | -67 | -103 | -125 | -31 | 45 | 37 | 45 | 24 |
Net decrease in cash and cash equivalents | |||||||||
-3,138 | 4,020 | -12,868 | -39,333 | 36,631 | 5,165 | -13,183 | 30,140 | 1,267 | 758 |
Net cash provided by (used in) financing activities | |||||||||
- | - | - | - | - | 15,642 | 21,639 | 61,060 | - | - |
Supplemental disclosures of cash flow information: | |||||||||
Cash paid for interest, net | |||||||||
21,148 | 13,623 | 11,674 | 9,812 | 11,369 | 14,647 | 22,923 | 11,905 | 5,270 | - |
Interest | |||||||||
- | - | - | - | - | - | - | - | - | 4,568 |
Cash paid for income taxes, net of refunds | |||||||||
3,588 | 19,657 | 12,378 | 3,762 | 4,918 | -16,472 | 8,128 | 3,036 | 8,073 | 5,636 |
Property acquired under capital lease | |||||||||
902 | 3,478 | 802 | 2,454 | 274 | 303 | 155 | 0 | 351 | - |
The fair value of the noncash (or part noncash) consideration given (for example, liability, equity) in a transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period. | |||||||||
4,400 | 0 | 0 | 1,320 | 0 | 0 | - | - | - | - |
Warrants issued in connection with debt | |||||||||
- | - | - | - | - | - | 1,625 | 0 | 0 | - |
Common stock issued in business combination | |||||||||
- | - | - | - | - | - | - | 4,946 | 0 | 0 |