v3.19.3
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net loss $ (15,069,000) $ (15,696,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and lease asset amortization 7,264,000 7,788,000
Other amortization, net 37,000 (458,000)
Bad debt expense 59,000 2,776,000
Asset impairments 622,000 1,360,000
(Gain) loss on sale of assets held for sale, net (369,000) (3,701,000)
(Gain) loss on sale of fixed assets and other assets, net (565,000) 87,000
(Gain) loss on insurance recoveries, net 0 (3,342,000)
Stock-based compensation expense 1,808,000 2,134,000
Changes in operating assets and liabilities:    
Contracts receivable and retainage, net (7,822,000) (6,211,000)
Contract assets (20,873,000) (11,814,000)
Prepaid expenses, inventory and other current assets 1,502,000 (1,722,000)
Accounts payable 29,244,000 1,791,000
Contract liabilities (1,164,000) 6,588,000
Accrued expenses and other liabilities (470,000) 632,000
Noncurrent assets and liabilities, net (including long-term retainage) (910,000) 1,122,000
Net cash used in operating activities (6,706,000) (18,666,000)
Cash flows from investing activities:    
Capital expenditures (1,990,000) (2,362,000)
Purchases of short-term investments (45,366,000) (9,174,000)
Maturities of short-term investments 28,761,000 0
Proceeds from sale of property, plant and equipment 1,598,000 57,716,000
Recoveries from insurance claims 0 9,362,000
Net cash provided by (used in) investing activities (16,997,000) 55,542,000
Cash flows from financing activities:    
Proceeds from borrowings under Credit Agreement 0 15,000,000
Repayment of borrowings under Credit Agreement 0 (15,000,000)
Payment of financing cost (48,000) (44,000)
Tax payments for vested stock withholdings (795,000) (795,000)
Net cash used in financing activities (843,000) (839,000)
Net increase (decrease) in cash and cash equivalents (24,546,000) 36,037,000
Cash and cash equivalents, beginning of period 70,457,000 8,983,000
Cash and cash equivalents, end of period $ 45,911,000 $ 45,020,000

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