Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net income $ 83us-gaap_NetIncomeLoss $ 3,535us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Bad debt expense 400gifi_BadDebtExpenseRecovery  
Depreciation 6,599us-gaap_Depreciation 6,379us-gaap_Depreciation
Loss on sale of asset   85us-gaap_GainLossOnDispositionOfAssets1
Deferred income taxes (149)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 1,824us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Compensation expense - restricted stock 435us-gaap_ShareBasedCompensation 316us-gaap_ShareBasedCompensation
Changes in operating assets and liabilities:    
Contracts receivable and retainage 28,536gifi_IncreaseDecreaseInContractReceivablesAndRetainage 6,075gifi_IncreaseDecreaseInContractReceivablesAndRetainage
Costs and estimated earnings in excess of billings on uncompleted contracts 795us-gaap_IncreaseDecreaseInUnbilledReceivables 4,035us-gaap_IncreaseDecreaseInUnbilledReceivables
Prepaid expenses and other assets 897gifi_IncreaseDecreaseInPrepaidExpenseAndOtherAssets 1,276gifi_IncreaseDecreaseInPrepaidExpenseAndOtherAssets
Inventory (5)us-gaap_IncreaseDecreaseInInventories 134us-gaap_IncreaseDecreaseInInventories
Accounts payable (14,469)us-gaap_IncreaseDecreaseInAccountsPayable (18,363)us-gaap_IncreaseDecreaseInAccountsPayable
Billings in excess of costs and estimated earnings on uncompleted contracts (5,558)us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings (6,389)us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings
Accrued employee costs (932)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities (974)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Accrued expenses 325us-gaap_IncreaseDecreaseInAccruedLiabilities (111)us-gaap_IncreaseDecreaseInAccruedLiabilities
Accrued contract losses (650)gifi_AccruedContractLosses  
Current income taxes 189us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable (83)us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
Net cash provided by (used in) operating activities 16,496us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (2,261)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Capital expenditures (1,001)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (10,589)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds on the sale of equipment   925us-gaap_ProceedsFromSaleOfMachineryAndEquipment
Net cash used in investing activities (1,001)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (9,664)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Borrowings against line of credit   15,000us-gaap_ProceedsFromLinesOfCredit
Payments on line of credit   (15,000)us-gaap_RepaymentsOfLinesOfCredit
Payments of dividends on common stock (1,465)us-gaap_PaymentsOfDividendsCommonStock (1,466)us-gaap_PaymentsOfDividendsCommonStock
Net cash used in financing activities (1,465)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (1,466)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net change in cash and cash equivalents 14,030us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (13,391)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 36,085us-gaap_CashAndCashEquivalentsAtCarryingValue 36,569us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period $ 50,115us-gaap_CashAndCashEquivalentsAtCarryingValue $ 23,178us-gaap_CashAndCashEquivalentsAtCarryingValue