Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ (49,394,000) $ (20,378,000) $ (44,766,000)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and lease asset amortization 9,564,000 10,350,000 12,745,000
Other amortization, net 50,000 80,000 (1,844,000)
Bad debt expense 59,000 30,000 21,000
Asset impairments 17,223,000 4,445,000 7,672,000
(Gain) loss on assets held for sale, net (369,000) (7,724,000) 259,000
Gain on insurance recoveries   (3,571,000)  
(Gain) loss on sale of fixed assets and other assets, net (584,000) 268,000 (35,000)
Deferred income taxes (10,000) 200,000 (23,234,000)
Stock-based compensation expense 1,774,000 2,795,000 2,741,000
Changes in operating assets and liabilities:      
Contracts receivable and retainage, net (3,650,000) 2,962,000 (8,319,000)
Contract assets (22,145,000) (26,932,000) (1,544,000)
Prepaid expenses, inventory and other current assets 2,556,000 (3,162,000) 782,000
Accounts payable 30,950,000 10,515,000 9,354,000
Contract liabilities 9,425,000 12,371,000 8,390,000
Accrued expenses and other liabilities (1,099,000) (3,352,000) (3,177,000)
Noncurrent assets and liabilities, net (including long-term retainage) (1,490,000) 711,000 1,570,000
Net cash used in operating activities (7,140,000) (20,392,000) (39,385,000)
Cash flows from investing activities:      
Purchases of short-term investments (65,284,000) (9,610,000)  
Maturities of short-term investments 54,086,000 1,200,000  
Capital expenditures (3,790,000) (3,481,000) (4,834,000)
Proceeds from sale of property, plant and equipment 2,217,000 85,247,000 2,155,000
Recoveries from insurance claims   9,362,000 1,544,000
Net cash provided by (used in) investing activities (12,771,000) 82,718,000 (1,135,000)
Cash flows from financing activities:      
Proceeds from borrowings under Credit Agreement   15,000,000 2,000,000
Repayment of borrowings under Credit Agreement   (15,000,000) (2,000,000)
Payment of financing cost (48,000) (42,000) (150,000)
Tax payments for vested stock withholdings (795,000) (810,000) (916,000)
Payments of dividends on common stock     (598,000)
Net cash used in financing activities (843,000) (852,000) (1,664,000)
Net increase (decrease) in cash and cash equivalents (20,754,000) 61,474,000 (42,184,000)
Cash and cash equivalents, beginning of period 70,457,000 8,983,000 51,167,000
Cash and cash equivalents, end of period 49,703,000 70,457,000 8,983,000
Supplemental cash flow information:      
Interest paid 470,000 352,000 349,000
Income taxes paid (refunds received), net 63,000 6,000 189,000
Reclassification of property, plant and equipment to assets held for sale 294,000   $ 109,488,000
Reclassification of assets held for sale to property, plant and equipment $ 1,162,000 866,000  
Reclassification of accrued expenses to assets held for sale   $ 3,245,000