Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities:    
Net income $ 935 $ 85
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 497 524
Amortization 58 58
Amortization of unrecognized prior service cost and actuarial losses 263 348
Stock-based compensation (income) expense (67) 42
Loss (gain) on disposal or sale of property, plant and equipment   1
Deferred income taxes 185 106
(Increase) decrease in operating assets:    
Accounts receivable 276 (3,511)
Unbilled revenue 4,394 (1,868)
Inventories 1,338 3,560
Prepaid expenses and other current and non-current assets (334) (792)
Income taxes payable 72 (214)
Prepaid pension asset (239)  
Increase (decrease) in operating liabilities:    
Accounts payable (3,170) (1,011)
Accrued compensation, accrued expenses and other current and non-current liabilities (1,462) (115)
Customer deposits 101 6,694
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 29 (93)
Net cash provided by operating activities 2,876 3,814
Investing activities:    
Purchase of property, plant and equipment (117) (129)
Purchase of investments (25,000) (9,000)
Redemption of investments at maturity 9,000 9,000
Net cash used by investing activities (16,117) (129)
Financing activities:    
Principal repayments on capital lease obligations (24) (11)
Issuance of common stock   4
Dividends paid (879) (866)
Purchase of treasury stock (119) (30)
Excess tax deficiency on stock awards   (35)
Net cash used by financing activities (1,022) (938)
Effect of exchange rate changes on cash 49 (114)
Net (decrease) increase in cash and cash equivalents (14,214) 2,633
Cash and cash equivalents at beginning of year 39,474 24,072
Cash and cash equivalents at end of period $ 25,260 $ 26,705