v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,586 $ 3,713
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 7,805 8,251
Noncash lease expense 1,943 0
Loss on term loan extinguishment 1,111 0
Provision for bad debts 1,172 526
Stock compensation expense 965 922
Amortization of debt issuance costs and loan fees 454 640
Loss on disposal of assets 0 143
Gain on sale of business 0 (1,341)
Change in assets and liabilities:    
Receivables (1,217) (3,015)
Contract receivables 927 (2,990)
Inventories (2,646) 34,502
Other current assets (1,843) (918)
Other assets (131) 2,959
Accounts payable 12,363 (8,396)
Operating lease liability (1,931) 0
Accrued and other liabilities 2,150 (3,315)
Income taxes 1,591 (3,538)
Contract liabilities (927) 2,990
Net cash provided by operating activities 28,372 31,133
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of fixed assets (3,170) (2,931)
Proceeds from sale of business 1,700 17,300
Net cash (used in) provided by investing activities (1,470) 14,369
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 128,394 50,496
Repayments of revolving credit facility (118,713) (66,400)
Proceeds from long-term debt 50,000 0
Repayments of long-term debt (82,205) (27,738)
Payment of debt issuance costs and loan fees (2,287) 0
Proceeds from stock options 599 83
Dividends paid on common stock (3,455) (3,422)
Net cash used in financing activities (27,667) (46,981)
DECREASE IN CASH AND CASH EQUIVALENTS (765) (1,479)
CASH AND CASH EQUIVALENTS:    
BEGINNING OF PERIOD 4,470 5,719
END OF PERIOD $ 3,705 $ 4,240

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