Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net income $ 5,154 $ 10,996
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization of long-lived assets 7,138 5,675
Amortization of deferred debt issuance costs and debt discount 27 19
Provision for bad debt 145 145
Gain on sale of equipment (334) (145)
Earnings from investment in joint venture (306) 0
Deferred income taxes 0 (3,470)
Changes in operating assets and liabilities:    
Contracts receivable including retainage, net 26,174 25,479
Costs and estimated earnings in excess of billings on uncompleted contracts (858) (2,466)
Inventories (3,982) (706)
Other current assets (2,277) (2,600)
Other assets 298 (549)
Accounts payable (25,290) (11,268)
Billings in excess of costs and estimated earnings on uncompleted contracts 733 4,599
Accrued expenses and other current liabilities (5,402) (6,214)
Other long-term liabilities (9) (5)
Net cash provided by operating activities 1,211 19,490
Cash flows from investing activities:    
Purchases of property, plant and equipment (7,406) (9,509)
Proceeds from sale of equipment 536 191
Distributions received from investment in joint venture (1,800) 0
Net cash used in investing activities (5,070) (9,318)
Cash flows from financing activities:    
Repayments on revolving credit facility 0 (5,000)
Repayments of long-term debt (3,711) (2,500)
Net cash used in financing activities (3,711) (7,500)
Net change in cash and cash equivalents (7,570) 2,672
Cash and cash equivalents:    
Beginning of period 99,137 27,547
End of period 91,567 30,219
Supplemental cash flow information:    
Cash paid for interest 747 489
Cash paid for income taxes 60 916
Non-cash items:    
Property, plant and equipment financed with accounts payable 178 0
Note receivable obtained in consideration for disposition of assets $ 0 $ 1,013