Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net Income (loss) $ 3,999 $ (3,570)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,415 15,215
Asset impairments   7,690
Anticipated loss on contract 9,484  
Deferred income taxes 1,721 (2,525)
Compensation expense - restricted stock 594 689
Excess tax benefit from share-based payment arrangements (3) (29)
Changes in operating assets and liabilities:    
Contracts receivable (19,312) (43,768)
Contract retainage 3,169 6,288
Costs and estimated earnings in excess of billings on uncompleted contracts (3,770) (13,767)
Billings in excess of costs and estimated earnings on uncompleted contracts (35,482) 29,570
Accounts payable 38,422 12,222
Prepaid expenses and other assets (18,279) 1,334
Inventory 947 (1,609)
Accrued employee costs 3,135 (665)
Accrued expenses 1,702 2,278
Current income taxes (1,467) (339)
Net cash provided by operating activities 2,275 9,014
Cash flows from investing activities:    
Capital expenditures, net (26,849) (33,408)
Net cash used in investing activities (26,849) (33,408)
Cash flows from financing activities:    
Proceeds from exercise of stock options 18 98
Excess tax benefit from share-based payment arrangements 3 29
Payments of dividends on common stock (4,368) (2,613)
Net cash used in financing activities (4,347) (2,486)
Net change in cash and cash equivalents (28,921) (26,880)
Cash and cash equivalents at beginning of period 55,287 88,072
Cash and cash equivalents at end of period $ 26,366 $ 61,192