XML 57 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Condensed Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 27, 2014
Sep. 28, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Income from continuing operations $ 3,664 $ 3,761
Loss from discontinued operations (98) (67)
Net income 3,566 3,694
Adjustments to reconcile net income to net cash used in operating activities, net of acquisitions:    
Depreciation and amortization 9,581 7,821
Provision (benefit) for deferred income taxes 2,539 (291)
Net gain on property, plant and equipment disposals (18) 0
Impairment of assets 759 0
Gain on purchase of business (10,736) 0
Stock-based compensation expense 900 669
Excess tax benefits from stock-based compensation (367) (126)
Write-off of deferred financing costs 0 94
Changes in operating assets and liabilities:    
Receivables (7,361) (15,573)
Inventories (2,974) (16,283)
Other current assets 1,627 (979)
Accounts payable and accrued expenses 1,902 16,479
Other operating assets and liabilities (495) (381)
NET CASH USED IN OPERATING ACTIVITIES (1,077) (4,876)
CASH FLOWS FROM INVESTING ACTIVITIES    
Net proceeds from sales of property, plant and equipment 369 13
Deposits on property, plant and equipment (119) 0
Purchase of property, plant and equipment (6,753) (8,738)
Proceeds from sale of equity investment 870 0
Net cash paid in business acquisitions, including working capital adjustments (17,657) (2,170)
NET CASH USED IN INVESTING ACTIVITIES (23,290) (10,895)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net borrowings on revolving credit facility 4,331 25,814
Payments on mortgage note payable 0 (10,141)
Payments on notes payable related to acquisitions (1,513) (623)
Borrowings on equipment financing 1,929 4,128
Payments on equipment financing (1,265) (836)
Payments on capital leases (966) (461)
Borrowings on notes payable 266 0
Payments on notes payable (807) (632)
Change in outstanding checks in excess of cash (1,848) (1,051)
Proceeds from equity offering, net of issuance costs 24,559 0
Proceeds from exercise of stock options 145 141
Repurchases of Common Stock (518) (207)
Excess tax benefits from stock-based compensation 367 126
Payments for debt issuance costs (84) (388)
NET CASH PROVIDED BY FINANCING ACTIVITIES 24,596 15,870
INCREASE IN CASH AND CASH EQUIVALENTS 229 99
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 255 491
CASH AND CASH EQUIVALENTS AT END OF PERIOD 484 590
SUPPLEMENTAL CASH FLOW INFORMATION:    
Interest paid 2,799 2,308
Income taxes paid, net of tax refunds 325 35
Equipment purchased under capital leases 8,709 1,787
Assets acquired in acquisitions, net of cash acquired 35,855 8,391
Liabilities assumed in acquisitions (6,414) (836)
Note payable related to acquisition 0 (3,749)
Accrued consideration for working capital adjustment in acquisitions (180) (1,636)
Accrued consideration for holdbacks in acquisition (869) 0
Deposits on property, plant & equipment financed 3,977 0
Shortfall of tax benefits from stock-based compensation $ (607) $ 0