Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 2,640 $ 676
Adjustments to reconcile net income to net cash provided(used) by operating activities:    
Depreciation 793 856
Amortization of intangible Assets 446 619
Amortization of actuarial losses 211 168
Amortization of debt issuance costs 59 34
Equity-based compensation expense 293 114
Deferred income taxes 855 225
(Increase) decrease in operating assets:    
Accounts receivable (5,769) (34)
Unbilled revenue 5,171 (2,580)
Inventories 780 (930)
Prepaid expenses and other current and non-current assets (1,065) (745)
Income taxes receivable (159) (6)
Operating lease assets 293 467
Prepaid pension asset (72) (163)
Increase (decrease) in operating liabilities:    
Accounts payable (4,745) 3,016
Accrued compensation, accrued expenses and other current and non-current liabilities (868) (878)
Customer deposits 10,002 (504)
Operating lease liabilities (256) (431)
Long-term portion of accrued compensation, accrued pension and postretirement benefit liabilities (6) (593)
Net cash provided (used) by operating activities 8,603 (689)
Investing activities:    
Purchase of property, plant and equipment (1,499) (284)
Net cash used by investing activities (1,499) (284)
Financing activities:    
Principal repayments on debt (500) (2,500)
Proceeds from the issuance of debt 0 2,000
Principal repayments on finance lease obligations (11) (6)
Repayments on financing lease obligations (74) (67)
Payment of debt issuance costs 0 (122)
Purchase of treasury stock (57) (22)
Net cash used by financing activities (642) (717)
Effect of exchange rate changes on cash (57) (146)
Net increase (decrease) in cash and cash equivalents 6,405 (1,836)
Cash and cash equivalents at beginning of period 18,257 14,741
Cash and cash equivalents at end of period $ 24,662 $ 12,905