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, 2018
Jun. 30, 2017
Operating activities:    
Net income $ 2,323 $ 935
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 490 497
Amortization 59 58
Amortization of unrecognized prior service cost and actuarial losses 219 263
Stock-based compensation expense 260 (67)
Loss on disposal or sale of property, plant and equipment 31  
Deferred income taxes 201 185
(Increase) decrease in operating assets:    
Accounts receivable 5,543 276
Unbilled revenue (6,539) 4,394
Inventories 5,150 1,338
Prepaid expenses and other current and non-current assets (451) (334)
Income taxes receivable 485 72
Prepaid pension asset (288) (239)
Increase (decrease) in operating liabilities:    
Accounts payable (7,122) (3,170)
Accrued compensation, accrued expenses and other current and non-current liabilities 322 (1,462)
Customer deposits (643) 101
Long-term portion of accrued compensation, accrued pension liability and accrued postretirement benefits 28 29
Net cash provided by operating activities 68 2,876
Investing activities:    
Purchase of property, plant and equipment (163) (117)
Purchase of investments (55,611) (25,000)
Redemption of investments at maturity 33,023 9,000
Net cash used by investing activities (22,751) (16,117)
Financing activities:    
Principal repayments on capital lease obligations (26) (24)
Issuance of common stock 102  
Dividends paid (885) (879)
Purchase of treasury stock (146) (119)
Net cash used by financing activities (955) (1,022)
Effect of exchange rate changes on cash (141) 49
Net decrease in cash and cash equivalents (23,779) (14,214)
Cash and cash equivalents at beginning of year 40,456 39,474
Cash and cash equivalents at end of period $ 16,677 $ 25,260