v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,941 $ 2,550
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 2,382 2,506
Noncash lease expense 679 669
Provision for bad debts 236 410
Stock compensation expense 386 339
Amortization of debt issuance costs and loan fees 161 213
Loss on disposal of assets 0 17
Change in assets and liabilities:    
Receivables (1,942) 5,977
Contract receivables 0 927
Inventories (8,806) 4,072
Other current assets (2,891) (2,676)
Other assets (14) (17)
Accounts payable 5,589 2,760
Operating lease liability (699) 0
Accrued and other liabilities 515 (133)
Income taxes 693 715
Contract liabilities 0 (927)
Net cash provided by operating activities 1,230 17,402
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (701) (280)
Proceeds from the sale of fixed assets 0 8
Net cash used in investing activities (701) (272)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 8,338 1,750
Repayments on revolving credit facility (6,500) (15,500)
Repayments on term loan (2,090) (3,642)
Payments of loan fees (101) 0
Proceeds from stock options 19 0
Repurchase of common stock (201) 0
Dividends paid on common stock (1,156) (1,149)
Net cash used in financing activities (1,691) (18,541)
DECREASE IN CASH AND CASH EQUIVALENTS (1,162) (1,411)
CASH AND CASH EQUIVALENTS:    
BEGINNING OF PERIOD 3,719 4,470
END OF PERIOD $ 2,557 $ 3,059

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