v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net (loss) income $ (368) $ 661
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Provision for doubtful accounts 47 (70)
Depreciation 2,706 2,527
Loss on disposal of and reserve adjustments for medical equipment 275 597
(Gain) loss on sale of medical equipment (228) 89
Amortization of intangible assets 710 1,043
Amortization of deferred debt issuance costs 18 96
Stock-based compensation 1,047 1,635
Deferred income taxes (462) (180)
Changes in assets - (increase)/decrease:    
Accounts receivable (1,278) (420)
Inventories 61 (154)
Other current assets (50) (244)
Other assets (41) (40)
Changes in liabilities - increase/(decrease):    
Accounts payable and other liabilities 1,641 (2,889)
NET CASH PROVIDED BY OPERATING ACTIVITIES 4,078 2,651
INVESTING ACTIVITIES    
Acquisition of business 0 (1,204)
Purchase of medical equipment (2,931) (2,336)
Purchase of property and equipment (178) (138)
Proceeds from sale of medical equipment, property and equipment 966 876
NET CASH USED IN INVESTING ACTIVITIES (2,143) (2,802)
FINANCING ACTIVITIES    
Principal payments on long-term debt (10,696) (40,093)
Cash proceeds from long-term debt 12,529 34,000
Debt issuance costs 0 (386)
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans (54) (565)
Common stock repurchased as part of share repurchase program (4,006) 0
Cash proceeds from stock plans 511 308
NET CASH USED IN FINANCING ACTIVITIES (1,716) (6,736)
Net change in cash and cash equivalents 219 (6,887)
Cash and cash equivalents, beginning of period 186 9,648
Cash and cash equivalents, end of period $ 405 $ 2,761

Source