Willdan group, inc. (WLDN)
CashFlow / Quarterly
Apr'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Sep'18Jun'18Jun'18Mar'18Mar'18Dec'17Dec'17Sep'17Jun'17Mar'17Dec'16Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net loss

-8,154

3,202

416

1,640

-417

1,201

-

3,311

-

3,315

2,203

2,203

-

3,290

2,886

3,312

2,641

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,078

-

782

1,602

1,495

2,047

4,161

1,893

1,315

701

842

688

399

300

787

-16,976

-1,411

-779

2,165

735

-291

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

4,519

3,848

5,912

2,973

2,739

2,820

-

1,148

-

1,142

1,101

1,101

-

1,106

1,106

951

919

-

906

748

956

610

796

355

492

429

131

124

102

103

133

142

144

166

168

182

196

191

211

214

245

274

Deferred income taxes, net

-2,136

76

-118

-236

69

-1,430

-

-668

-

-666

-126

-126

-

-1,163

1,039

717

28

-

-1,331

1,700

587

269

-722

1,540

464

476

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease abandonment recovery, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-17

0

0

-13

1

3

-26

-4

-

-

-

-

Lease abandonment expense (recovery), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-4

13

(Gain) loss on sale/disposal of equipment

16

3

-3

-17

25

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

45

-5

-8

5

-14

5

0

-2

3

-3

1

5

-

-

-

-

-1

6

-9

2

Provision for doubtful accounts

366

795

54

175

27

153

-

-27

-

248

96

96

-

-91

-78

-28

8

-

124

31

30

31

228

-9

214

226

109

210

113

78

-118

57

97

65

-120

361

374

58

-

-

-

-

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67

54

10

Stock-based compensation

4,595

3,964

4,107

2,224

1,817

1,831

-

1,705

-

1,662

1,064

1,064

-

782

896

620

476

-

507

268

257

207

-

-

-

-

-

-

-

-

-

-

-

-

-

-

77

54

-

40

54

54

Stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

190

154

124

-

81

52

41

32

30

38

50

-

-

-

-

-

-

-

-

Accretion and fair value adjustments of contingent consideration

334

238

87

-738

111

-713

-

-1,335

-

284

338

338

-

377

498

114

167

-

160

-249

138

-28

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of effects from business acquisitions:
Accounts receivable

4,451

1,864

2,507

2,045

-18,043

16,315

-

-3,198

-

1,453

-17,747

-17,747

-

2,351

7,225

-3,127

963

-

3,860

-2,991

-4,416

2,259

3,033

-4,277

2,546

3,052

-802

2,089

1,543

-2,298

2,656

-590

-937

-3,345

1,285

-7,408

7,672

-2,174

2,105

3,550

-2,419

-729

Contract assets

-36,798

14,377

12,073

2,383

5,765

-6,713

-

1,342

-

114

16,796

16,796

-

-2,456

-2,550

559

10,191

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Costs and estimated earnings in excess of billings on uncompleted contracts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,899

-

-2,556

8,281

2,231

-4,465

1,376

1,399

2,870

-1,876

1,023

2,295

1,093

70

-676

-898

1,279

-1,294

548

-13,358

3,292

3,352

735

3,710

630

Other receivables

253

-290

1,285

1,023

696

-2,563

-

-462

-

-1,208

152

152

-

55

220

1,322

-471

-

-2,000

1,982

-84

20

32

-178

111

4

-680

439

99

138

150

-6

-33

6

-33

42

9

-98

-67

69

63

-66

Prepaid expenses and other current assets

-704

1,403

-183

41

-918

232

-

307

-

110

-495

-495

-

929

-378

-14

559

-

184

117

-18

236

380

227

-856

46

869

136

-661

-477

807

348

-34

-526

710

-421

-202

-29

719

-415

-118

-176

Other assets

-607

6,184

-279

300

315

700

-

-16

-

-4

98

98

-

19

-15

-4

-25

-

225

56

-102

-10

44

2

-449

372

-19

-92

-2

315

19

16

-2

-7

-46

4

-101

67

-12

9

-11

-10

Accounts payable

9,938

-458

779

-6,488

-127

377

-

4,955

-

-1,709

-5,206

-5,206

-

-2,222

236

2,697

2,475

-

-1,554

3,466

-1,070

-636

-855

-1,092

2,266

1,523

-961

-887

1,509

-381

525

-8

-991

-2,552

2,037

-6,062

512

2,314

1,256

2,940

-644

-750

Changes in excess of outstanding checks over bank balance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-283

-687

633

-

351

-70

-300

-308

167

-838

390

788

-523

406

-117

Accrued liabilities

-28,001

15,597

-872

7,835

-5,799

-273

-

-2,394

-

7,314

-6,592

-6,592

-

7,669

-6,587

-130

3,377

-

3,163

-1,346

7,456

-864

537

-2,074

1,575

-1,358

1,946

1,581

-183

1,516

-118

816

-650

454

-2,230

-611

-674

-1,371

553

1,148

2,266

239

Contract liabilities

1,602

-390

640

461

-396

48

-

-1,162

-

-295

-863

-863

-

219

-533

-1,023

-256

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Billings in excess of costs and estimated earnings on uncompleted contracts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-310

-

-940

999

2,410

-5

132

1,095

1,063

-567

1,760

191

232

-367

-945

247

-107

-188

1,792

628

435

-404

-157

-533

805

Deferred lease obligations

-

-

-

-

-

-

-

-32

-

-45

62

62

-36

-

-31

-27

-6

-

-14

-19

-22

32

459

29

22

63

121

-10

-29

-47

-52

-82

-79

-71

-60

-40

-46

-40

-76

-82

-43

-33

Right-of-use assets

-3

-1

-189

63

-303

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,627

-

2,890

5,141

-2,308

6,114

1,374

-313

4,721

-2,952

2,133

1,327

705

77

3,686

1,743

-824

-3,746

1,479

914

670

Net cash provided by operating activities

16,455

3,332

-4,206

2,008

10,487

-4,001

-

7,525

-

10,771

-6,727

-6,727

-

9,034

-5,044

8,467

-1,388

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows from investing activities:
Purchase of equipment and leasehold improvements

2,156

1,001

2,017

1,690

1,929

1,385

-

209

-

367

144

144

-

352

416

827

583

-

276

397

732

257

797

349

1,118

211

313

-151

297

33

58

162

21

65

84

55

147

73

86

46

62

201

Proceeds from sale of equipment

17

0

1

9

35

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11

5

6

5

-

-

-

-

0

5

0

1

Cash paid for acquisitions, net of cash acquired

-

25,217

24,739

0

21,800

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,857

0

0

1,125

7,043

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-2,139

-26,218

-26,755

-1,681

-23,694

-122,717

-

-204

-

-3,325

-144

-144

-

-352

-15,019

-827

-583

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash flows from financing activities:
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,114

-

-349

-2,243

-7,254

-313

156

-297

-33

-47

-157

-15

-60

-78

-49

-139

-73

-86

-2,774

-62

-200

Payments on contingent consideration

1,434

0

0

176

1,205

528

-

569

-

577

2,622

2,622

-

50

150

1

1,508

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on notes payable

151

471

442

457

472

94

-

0

-

0

383

383

-

894

968

1,030

1,272

-

1,295

984

1,160

939

462

497

640

491

-355

115

204

198

17

145

213

246

81

93

232

257

163

5

8

35

Proceeds from notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

606

0

50

1,950

-

-

-

-

-

-

-

-

-

-

-

-

644

0

0

23

Borrowings under term loan facility and line of credit

9,000

33,000

5,000

86,000

14,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

6,194

5,469

11,283

9,015

6,430

7,237

Repayments under term loan facility and line of credit

13,250

5,500

2,500

68,250

1,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

6,194

2,725

13,947

6,095

7,638

7,029

Principal payments on finance leases

96

301

38

212

88

46

-

114

-

117

-

90

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on capital lease obligations

-

-

-

-

-

-

114

-

117

-

90

-

67

-

101

101

121

-

111

66

217

128

132

111

52

55

54

390

-224

41

12

-16

30

36

38

38

40

48

50

51

53

48

Proceeds from stock option exercise

260

73

335

232

291

192

-

135

-

62

279

279

-

150

76

375

1,300

-

163

115

2

47

143

22

236

111

170

196

39

45

-

-

-

-

-

-

-

10

-

-

-

-

Proceeds from sales of common stock under employee stock purchase plan

1,073

0

991

0

749

1

-

683

-

0

616

616

-

0

486

0

344

-

0

96

0

113

92

0

0

78

0

48

0

28

0

36

0

37

0

45

10

65

0

51

0

42

Shares used to pay taxes on stock grants

2,867

18

0

346

2,516

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted Stock Award and Units

-1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-907

-

-586

-406

1,593

471

-261

59

-166

494

-97

-3,243

-245

777

91

-1,110

2,904

-1,442

2,396

-863

73

Net increase (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-11,648

-

1,955

2,492

-7,969

6,272

1,269

-551

4,522

-2,505

1,879

-1,931

400

776

3,728

494

2,007

-5,274

1,101

-11

543

Net cash (used in) provided by financing activities

-7,464

28,338

3,359

16,214

9,009

125,296

-

-1,865

-

-1,574

-2,200

-2,200

-

139

-657

-757

-1,257

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase (decrease) in cash and cash equivalents

6,852

5,452

-27,602

16,541

-4,198

-1,422

-

5,456

-

5,872

-

-9,071

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-9,071

-

-

-

-

-

-3,228

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental disclosures of cash flow information:
Cash paid during the period for:
Interest

1,735

855

1,158

1,191

965

419

-

22

-

30

23

23

-

23

23

32

33

-

42

43

45

49

47

52

56

48

5

4

3

4

14

5

54

27

27

28

30

21

26

14

14

23

Income taxes

529

-

-

-

-

1,102

-

1,846

-

179

36

36

-

608

514

1,379

249

-

-171

912

448

686

-2

584

5

362

73

-59

105

15

160

9

106

49

80

14

28

17

-

-

-

-

Supplemental disclosures of noncash investing and financing activities:
Other working capital adjustment

-

-

-

-

579

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of notes payable related to business acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

4,569

0

0

0

4,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance of common stock related to business acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-2

0

2,230

0

0

0

1,485

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration related to business acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-932

0

368

5,742

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equipment acquired under finance leases

193

-

-

152

261

181

-

94

-

25

162

162

-

31

116

115

32

-

187

113

-811

884

-

-

-

-

201

142

287

47

-

-

-

-

58

83

0

10

88

56

0

103