Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Operating activities:      
Net income (loss) $ 15,320us-gaap_NetIncomeLoss $ 7,232us-gaap_NetIncomeLoss $ (4,091)us-gaap_NetIncomeLoss
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation 26,436us-gaap_Depreciation 25,087us-gaap_Depreciation 23,396us-gaap_Depreciation
Provision for losses on contract receivables     14,501us-gaap_ProvisionForDoubtfulAccounts
Asset impairment 3,200us-gaap_ProductionRelatedImpairmentsOrCharges    
Allowance for doubtful accounts 3,168gifi_AllowanceForDoubtfulAccountsProvisions 887gifi_AllowanceForDoubtfulAccountsProvisions  
Loss on the sale of assets 86us-gaap_GainLossOnDispositionOfAssets1 353us-gaap_GainLossOnDispositionOfAssets1  
Deferred income taxes 8,264us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 3,788us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (1,848)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Stock-based compensation expense 1,139us-gaap_ShareBasedCompensation 672us-gaap_ShareBasedCompensation (259)us-gaap_ShareBasedCompensation
Excess tax benefits from share-based payment arrangements   (116)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities 1,222us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Changes in operating assets and liabilities:      
Contracts receivable, net 14,963us-gaap_IncreaseDecreaseInContractReceivablesNet (55,353)us-gaap_IncreaseDecreaseInContractReceivablesNet (1,937)us-gaap_IncreaseDecreaseInContractReceivablesNet
Contract retainage 111gifi_IncreaseDecreaseInContractRetainage 1,187gifi_IncreaseDecreaseInContractRetainage 3,015gifi_IncreaseDecreaseInContractRetainage
Costs and estimated earnings in excess of billings on uncompleted contracts (2,262)us-gaap_IncreaseDecreaseInUnbilledReceivables 1,590us-gaap_IncreaseDecreaseInUnbilledReceivables (13,335)us-gaap_IncreaseDecreaseInUnbilledReceivables
Billings in excess of costs and estimated earnings on uncompleted contracts (16,240)us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings 9,418us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings (20,865)us-gaap_IncreaseDecreaseInBillingInExcessOfCostOfEarnings
Accounts payable (25,782)us-gaap_IncreaseDecreaseInAccountsPayable 16,569us-gaap_IncreaseDecreaseInAccountsPayable 28,983us-gaap_IncreaseDecreaseInAccountsPayable
Prepaid subcontractor costs   33,145us-gaap_IncreaseDecreaseInPrepaidExpensesOther (23,414)us-gaap_IncreaseDecreaseInPrepaidExpensesOther
Prepaid expenses and other assets 352gifi_IncreaseDecreaseInPrepaidExpenseAndOtherAssets (385)gifi_IncreaseDecreaseInPrepaidExpenseAndOtherAssets (1,113)gifi_IncreaseDecreaseInPrepaidExpenseAndOtherAssets
Inventory 1,189us-gaap_IncreaseDecreaseInInventories (6,325)us-gaap_IncreaseDecreaseInInventories 1,254us-gaap_IncreaseDecreaseInInventories
Accrued contract losses 817gifi_AccruedContractLosses (3,790)gifi_AccruedContractLosses 3,790gifi_AccruedContractLosses
Accrued employee costs (154)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities 1,854us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities 944us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Accrued expenses 1,488us-gaap_IncreaseDecreaseInAccruedLiabilities (1,462)us-gaap_IncreaseDecreaseInAccruedLiabilities 2,551us-gaap_IncreaseDecreaseInAccruedLiabilities
Current income taxes 15us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable 3,652us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable (1,757)us-gaap_IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
Net cash provided by operating activities 32,110us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 38,003us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 11,037us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:      
Capital expenditures, net (27,658)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (21,353)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (35,890)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds on the sale of equipment 929us-gaap_ProceedsFromSaleOfMachineryAndEquipment 551us-gaap_ProceedsFromSaleOfMachineryAndEquipment  
Net cash used in investing activities (26,729)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (20,802)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (35,890)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:      
Borrowings against notes payable 22,000us-gaap_ProceedsFromNotesPayable 45,000us-gaap_ProceedsFromNotesPayable  
Payments on notes payable (22,000)us-gaap_RepaymentsOfNotesPayable (45,000)us-gaap_RepaymentsOfNotesPayable  
Proceeds from exercise of stock options 0us-gaap_ProceedsFromStockOptionsExercised 203us-gaap_ProceedsFromStockOptionsExercised 17us-gaap_ProceedsFromStockOptionsExercised
Excess tax benefit from share-based payment arrangements 0us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 116us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 259us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Payments of dividends on common stock (5,865)us-gaap_PaymentsOfDividendsCommonStock (5,839)us-gaap_PaymentsOfDividendsCommonStock (5,822)us-gaap_PaymentsOfDividendsCommonStock
Net cash used in financing activities (5,865)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (5,520)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (5,546)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net (decrease) increase in cash and cash equivalents (484)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 11,681us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (30,399)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 36,569us-gaap_CashAndCashEquivalentsAtCarryingValue 24,888us-gaap_CashAndCashEquivalentsAtCarryingValue 55,287us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 36,085us-gaap_CashAndCashEquivalentsAtCarryingValue 36,569us-gaap_CashAndCashEquivalentsAtCarryingValue 24,888us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental cash flow information:      
Interest paid 169us-gaap_InterestPaid 843us-gaap_InterestPaid 99us-gaap_InterestPaid
Income taxes paid (received), net of payments (refunds) 225us-gaap_IncomeTaxesPaidNet 3,138us-gaap_IncomeTaxesPaidNet 2,291us-gaap_IncomeTaxesPaidNet
Schedule of Noncash Financing Activities      
Reclassification of assets to held for sale   $ 14,527gifi_FinancedReceivablesReclassifiedToAssetsHeldForSale