Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities:    
Net income $ 85 $ 2,361
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 524 563
Amortization 58 58
Amortization of unrecognized prior service cost and actuarial losses 348 303
Stock-based compensation expense 42 220
Loss on disposal or sale of property, plant and equipment 1  
Deferred income taxes 106 390
(Increase) decrease in operating assets:    
Accounts receivable (3,511) 1,701
Unbilled revenue (1,868) 177
Inventories 3,560 2,284
Prepaid expenses and other current and non-current assets (792) (462)
Income taxes payable/receivable (214) 361
Prepaid pension asset   (305)
Increase (decrease) in operating liabilities:    
Accounts payable (1,011) (1,145)
Accrued compensation, accrued expenses and other current and non-current liabilities (115) (2,284)
Customer deposits 6,694 (796)
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits (93) (95)
Net cash provided by operating activities 3,814 3,331
Investing activities:    
Purchase of property, plant and equipment (129) (264)
Purchase of investments (9,000) (9,000)
Redemption of investments at maturity 9,000 9,000
Net cash used by investing activities (129) (264)
Financing activities:    
Principal repayments on capital lease obligations (11) (15)
Issuance of common stock 4 96
Dividends paid (866) (813)
Purchase of treasury stock (30)  
Excess tax (deficiency) benefit on stock awards (35) 12
Net cash used by financing activities (938) (720)
Effect of exchange rate changes on cash (114) (2)
Net increase in cash and cash equivalents 2,633 2,345
Cash and cash equivalents at beginning of year 24,072 27,271
Cash and cash equivalents at end of period $ 26,705 $ 29,616