Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.19.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (8,861) $ (16,356)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 12,440 11,078
Gain on disposition of assets (3,270) (458)
Non-cash interest expense 87 764
Loss on debt extinguishment 0 8,594
Provision for doubtful accounts 257 159
Deferred income tax expense 40 0
Stock-based compensation 2,751 9,886
Changes in operating assets and liabilities:    
Accounts receivable 4,869 (1,411)
Unbilled receivables 5,338 1,422
Inventories (1,172) (3,789)
Prepaid expenses and other current assets 1,867 459
Other noncurrent assets 3 0
Accounts payable (2,078) 1,508
Accrued liabilities (1,518) (1,448)
Other long-term liabilities (99) (7)
Net cash provided by operating activities 10,654 10,401
Cash flows from investing activities:    
Purchases of property, plant and equipment (12,284) (10,705)
Advances of deposit on equipment (354) (1,709)
Proceeds from sale of property, plant and equipment 3,754 998
Net cash used in investing activities (8,884) (11,416)
Cash flows from financing activities:    
Proceeds from revolving debt 7,500 15,000
Payments on revolving debt 0 (81,071)
Payments on term loans 0 (11,225)
Payments on finance leases (122) (90)
Payments on financed payables (617) 0
Payment of deferred financing costs 0 (1,416)
Prepayment premiums on early debt extinguishment 0 (1,346)
Payments for treasury shares (1,445) (1,271)
Proceeds from new shares issuance, net of underwriting commissions 0 90,541
Costs incurred for stock issuance 0 (212)
Net cash provided by financing activities 5,316 8,910
Net increase in cash and cash equivalents 7,086 7,895
Cash and cash equivalents beginning of period 13,804 8,751
Cash and cash equivalents end of period 20,890 16,646
Supplemental cash flow information    
Cash paid for interest 548 792
Income taxes refund 6 0
Supplemental non-cash investing and financing activities    
Fixed asset purchases in accounts payable and accrued liabilities 1,096 832
Financed payables 392 0
Non-cash finance lease additions 720 0
Non-cash payment for property, plant and equipment 0 682
Debt conversion of Former Term Loan to equity 0 33,632
Issuance of common shares for members’ equity 0 212,630
Stock issuance cost included in accounts payable $ 0 $ 1,967