v3.24.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net (loss) income $ (26,629) $ 22,066
Income from discontinued operations, net of tax 7,522 4,488
Net (loss) income from continuing operations (34,151) 17,578
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation expense 6,161 6,421
Amortization expense 1,505 1,853
Amortization of debt issuance costs 99 99
Goodwill impairment 11,389 0
Deferred income taxes (6,924) (5,568)
Payments of earn-out liabilities in excess of acquisition date fair value 0 (372)
(Reduction of) provision for losses on accounts receivable (180) 478
Provision for losses on inventories 3,318 2,615
Loss (gain) on disposal of property, plant and equipment 246 (18)
Non-cash lease expense 242 414
Issuance of treasury stock for director fees 0 364
Share-based compensation expense 1,023 1,355
Changes in operating assets and liabilities:    
Accounts receivable 6,778 (264)
Inventories 12,245 (13,685)
Other assets and liabilities 515 (211)
Accounts payable 1,650 (6,269)
Accounts payable - related parties 0 (2)
Accrued expenses (401) (2,127)
Accrued income taxes 3,129 (7,923)
Net cash provided by (used in) operating activities - continuing operations 6,644 (5,262)
Net cash provided by operating activities - discontinued operations 16,434 10,839
Net cash provided by operating activities 23,078 5,577
Cash flows from investing activities:    
Purchases of property, plant and equipment (2,885) (3,394)
Proceeds from disposal of property, plant and equipment 0 99
Net cash used in investing activities - continuing operations (2,885) (3,295)
Net cash provided by (used in) investing activities - discontinued operations 53,386 (1,680)
Net cash provided by (used in) investing activities 50,501 (4,975)
Cash flows from financing activities:    
Borrowings from long-term debt 256,606 443,363
Proceeds from note payable 900 967
Proceeds from exercise of stock options 0 175
Payments on long-term debt (328,155) (442,206)
Payments on note payable (928) (580)
Principal payments on finance lease obligations (305) (266)
Payments on earn-out liabilities 0 (484)
Repurchase of common stock (1,287) (1,343)
Net cash used in financing activities - continuing operations (73,169) (374)
Net cash used in financing activities - discontinued operations 0 (808)
Net cash used in financing activities (73,169) (1,182)
Increase (decrease) in cash and cash equivalents 410 (580)
Less: Cash and cash equivalents of discontinued operations 0 4
Cash and cash equivalents, beginning of period 1,441 2,017
Cash and cash equivalents, end of period 1,851 1,441
Supplemental Disclosure of Cash Flow Information    
Income taxes 864 7,859
Noncash Investing Activities:    
Capital expenditures, not yet paid $ 653 $ 751

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