Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 22,244 $ 7,361
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization of long-lived assets 11,308 10,501
Amortization of deferred debt issuance costs 39 366
Provision for bad debt 290 290
Gain on sale of equipment, net (1,031) (2,437)
Equity-based compensation expense 604 156
Earnings from investment in joint venture (230)  
Deferred income taxes (3,470) 23
Changes in operating assets and liabilities:    
Contracts receivable including retainage, net 44,811 27,896
Costs and estimated earnings in excess of billings on uncompleted contracts (5,540) (3,078)
Inventories (2,342) (2,535)
Other current assets (8,090) (6,350)
Other assets (11,960) (1,081)
Accounts payable (15,078) (11,258)
Billings in excess of costs and estimated earnings on uncompleted contracts (1) 3,455
Accrued expenses and other current liabilities (3,247) (4,426)
Other long-term liabilities (183) 511
Net cash provided by operating activities 28,124 19,394
Cash flows from investing activities:    
Purchases of property, plant and equipment (21,966) (12,076)
Proceeds from sales of equipment 2,487 3,254
Investment in joint venture (400)  
Net cash used in investing activities (19,879) (8,822)
Cash flows from financing activities:    
Repayments of revolving credit facility (5,000)  
Proceeds from revolving credit facility   312
Repayments of long-term debt (5,000) (7,911)
Proceeds from reissuance of treasury stock 5  
Common stock dividend paid   (31,292)
Net cash used in financing activities (9,995) (38,891)
Net change in cash (1,750) (28,319)
Cash:    
Beginning of Period 27,547 51,085
End of Period 25,797 22,766
Supplemental cash flow information:    
Cash paid for interest 970 1,784
Cash paid for income taxes 2,707 2,975
Non cash investing activities:    
Property, plant and equipment financed by accounts payable $ 2,347 $ 315