v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income (loss) $ 368 $ (8,290)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and lease asset amortization 4,287 4,974
Other amortization, net 31 26
Bad debt expense   59
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) (565)
Stock-based compensation expense 440 1,346
Changes in operating assets and liabilities:    
Contracts receivable and retainage, net 12,704 (896)
Contract assets (25,732) (21,352)
Prepaid expenses, inventory and other current assets 668 212
Accounts payable 2,081 26,269
Contract liabilities 702 (3,023)
Accrued expenses and other current liabilities (1,840) (1,108)
Noncurrent assets and liabilities, net (including long-term retainage) 2,538 (466)
Net cash used in operating activities (3,758) (2,884)
Cash flows from investing activities:    
Capital expenditures (7,745) (1,359)
Proceeds from sale of property, plant and equipment 1,080 1,598
Purchases of short-term investments (19,991) (45,366)
Maturities of short-term investments 20,000 8,500
Net cash used in investing activities (6,656) (36,627)
Cash flows from financing activities:    
Proceeds from borrowings 10,000  
Payment of financing cost (31) (40)
Tax payments for vested stock withholdings (74) (714)
Net cash provided by (used in) financing activities 9,895 (754)
Net decrease in cash and cash equivalents (519) (40,265)
Cash and cash equivalents, beginning of period 49,703 70,457
Cash and cash equivalents, end of period $ 49,184 $ 30,192

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