v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ 5,905 $ (3,042)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and lease asset amortization 2,220 2,552
Other amortization, net 13 12
Bad debt expense   53
Asset impairments   299
(Gain) loss on sale of assets held for sale, net   (369)
(Gain) loss on sale of fixed assets and other assets, net (5) 101
Stock-based compensation expense 95 560
Changes in operating assets and liabilities:    
Contracts receivable and retainage, net 9,917 796
Contract assets (12,777) (8,725)
Prepaid expenses, inventory and other current assets 1,829 1,095
Accounts payable 9,663 7,542
Contract liabilities (14,700) (7,611)
Accrued expenses and other current liabilities (1,918) (1,558)
Noncurrent assets and liabilities, net (including long-term retainage) (235) (182)
Net cash provided by (used in) operating activities 7 (8,477)
Cash flows from investing activities:    
Capital expenditures (2,124) (250)
Proceeds from sale of property, plant and equipment 1,080 424
Purchases of short-term investments   (20,041)
Maturities of short-term investments   8,500
Net cash used in investing activities (1,044) (11,367)
Cash flows from financing activities:    
Payment of financing cost (30)  
Tax payments for vested stock withholdings (74) (715)
Net cash used in financing activities (104) (715)
Net decrease in cash and cash equivalents (1,141) (20,559)
Cash and cash equivalents, beginning of period 49,703 70,457
Cash and cash equivalents, end of period $ 48,562 $ 49,898

Source