v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net loss $ (6,419) $ (19,835)
Loss from discontinued operations, net of tax (2,127) (7,898)
Net loss from continuing operations (4,292) (11,937)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation expense 3,051 3,112
Amortization expense 744 752
Amortization of debt issuance costs 50 50
Deferred income taxes (1,210) (5,515)
Provision for losses on accounts receivable 264 32
Provision for losses on inventories 906 1,194
Loss on disposal of property, plant and equipment 0 182
Non-cash lease expense 111 126
Stock-based compensation expense 368 404
Changes in operating assets and liabilities:    
Accounts receivable (3,813) 2,286
Inventories 5,483 16,086
Other assets and liabilities (907) (251)
Accounts payable 202 4,780
Accrued expenses 1,364 (402)
Accrued income taxes 630 (743)
Net cash provided by operating activities - continuing operations 2,951 10,156
Net cash (used in) provided by operating activities - discontinued operations (521) 7,916
Net cash provided by operating activities 2,430 18,072
Investing activities    
Purchases of property, plant and equipment (770) (1,235)
Net cash used in investing activities - continuing operations (770) (1,235)
Net cash used in investing activities - discontinued operations 0 (390)
Net cash used in investing activities (770) (1,625)
Financing activities    
Borrowings from long-term debt 107,700 139,137
Proceeds from note payable 914 900
Payments on long-term debt (107,700) (156,166)
Payments on note payable (359) (387)
Principal payments on finance lease obligations (151) (151)
Repurchase of common stock (320) (504)
Net cash provided by (used in) financing activities 84 (17,171)
Increase (decrease) in cash and cash equivalents 1,744 (724)
Less: Cash and cash equivalents of discontinued operations 0 1
Cash and cash equivalents at beginning of period 1,851 1,440
Cash and cash equivalents at end of period 3,595 717
Supplemental Disclosure of Cash Flow Information    
Interest 138 1,999
Income taxes 0 817
Noncash Investing Activities:    
Capital expenditures, not yet paid $ 172 $ 575

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