Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities:    
Net income (loss) $ 16,391 $ (493)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Depreciation of property and equipment 2,071 3,732
Amortization of other intangible assets 4,900 6,499
Gain on sale of business (40,585)  
Amortization of debt issuance costs 1,209 464
Gain on disposition of property and equipment (123) (44)
Noncash lease expense 1,527 1,475
Contingent consideration benefit (125) (1,565)
Stock-based compensation 2,711 2,869
Deferred income taxes 4,434 (1,569)
Changes in operating assets and liabilities, net of disposition:    
Accounts receivable 11,653 10,495
Inventories (4,607) (1,953)
Prepaid and other assets 295 1,237
Accounts payable (10,848) 1,233
Accrued liabilities (3,163) (5,063)
Income taxes (1,267) (31)
Net cash (used in) provided by operating activities (15,527) 17,286
Cash Flows From Investing Activities:    
Proceeds from the sale of business, net of cash 175,674  
Proceeds from disposition of property and equipment 213 169
Purchase of intangible assets (250)  
Purchases of property and equipment (3,475) (3,252)
Net cash provided by (used in) investing activities 172,162 (3,083)
Cash Flows From Financing Activities:    
Proceeds from revolving credit facilities 31,205 19,801
Repayments on revolving credit facilities (41,580) (26,879)
Repayments on term loans and other debt (109,463) (4,837)
Proceeds from issuance of other debt 49  
Purchase of treasury stock (185) (222)
Proceeds from exercise of options 285 35
Cash dividends paid (1,913) (1,860)
Net cash used in financing activities (121,602) (13,962)
Effect of foreign exchange rates on cash (136) (987)
Change in cash 34,897 (746)
Cash, beginning of year 11,324 12,061
Cash, end of period 46,221 11,315
Supplemental Disclosure of Cash Flow Information:    
Cash paid for income taxes 1,888 1,010
Cash paid for interest 1,947 5,127
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Property and equipment purchased with accounts payable 224 159
Lease liabilities arising from obtaining right-of-use assets $ 161 $ 4,066