Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES      
NET (LOSS) $ (846) $ (5,723) $ (2,535)
Adjustments to reconcile net (loss) to net cash provided by operating activities, net of business acquisition:      
Impact of tax valuation allowance     (2,066)
Depreciation 15,596 15,937 6,730
Impairment/loss on sale of assets 253 3,464  
Loss on sale of business 1,058    
Amortization of intangibles 6,995 7,272 412
Loss on extinguishment of debt   1,099  
Amortization of debt issue costs 440 3,497  
Stock based compensation 6,441 5,438 3,479
Provision for bad debts 18,649 11,856 2,318
Changes in assets and liabilities, net of business acquisition:      
(Increase) in accounts receivable, net of write-offs (24,243) (18,425) (3,215)
(Increase) in inventories (1,423) (1,145) (896)
(Increase) decrease in other assets (29) (44) 11
(Increase) decrease in other current assets (310) 354 (3,748)
Increase (decrease) in accounts payable and other liabilities (4,544) (2,103) 5,903
Net cash provided by operating activities 18,037 21,477 6,393
CASH FLOWS FROM INVESTING ACTIVITIES      
Acquisition, net of cash acquired of $0, $0 and $890   1,035 (72,940)
Purchases of property and equipment (13,690) (7,536) (2,215)
Net cash used in investing activities (13,690) (6,501) (75,155)
CASH FLOWS FROM FINANCING ACTIVITIES      
Advances from revolving credit facility 2,496 12,856 10,002
Repayment of capital lease obligations (5,424) (5,293) (4,115)
Proceeds from term loan   75,000 55,022
Redemption of preferred stock   (55,000)  
Repayment of term loan (3,753) (55,000)  
Payments of debt issue costs   (2,202) (3,351)
Issuance of common stock for the exercise of options, warrants and ESPP shares, net of transaction expenses 2,586 3,768 935
Net cash (used in) provided by financing activities (4,095) (25,871) 58,493
Effects of foreign exchange rate changes on cash and cash equivalents 44    
Net change in cash and cash equivalents 296 (10,895) (10,269)
Cash and cash equivalent, beginning of year 12,525 23,420 33,689
Cash and cash equivalents, end of year 12,821 12,525 23,420
Supplemental disclosure of cash flow information:      
Interest paid 5,155 5,423 911
Income taxes paid 284 290 25
Supplemental disclosure of non-cash investing and financing information:      
Equipment acquired under capital lease/loan obligations 5,728 $ 6,057 4,813
Fair value of common stock issued to fund acquisition     102,510
Fair value of preferred stock issued to fund acquisition     $ 73,200
Fair value of restricted stock issued to fund purchase of customer list $ 4,095