Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES    
Net income (in thousands) $ 6,662 $ 556
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 534 (30)
Depreciation 7,267 5,727
Loss on disposal of medical equipment and other assets 150 390
Gain on sale of medical equipment (2,949) (1,264)
Amortization of intangible assets 3,225 3,326
Amortization of deferred debt issuance costs 13 29
Stock-based compensation 1,222 780
Deferred income taxes 16 76
Changes in assets - (Increase)/Decrease:    
Accounts receivable (1,490) (735)
Inventories (1,074) (514)
Other current assets 75 (233)
Other assets (114) (326)
Changes in liabilities - Increase/(Decrease):    
Accounts payable and other liabilities (869) 1,752
NET CASH PROVIDED BY OPERATING ACTIVITIES 12,668 9,534
INVESTING ACTIVITIES    
Purchase of medical equipment (11,955) (15,005)
Purchase of property and equipment (865) (1,415)
Proceeds from sale of medical equipment, property and equipment 3,870 2,239
NET CASH USED IN INVESTING ACTIVITIES (8,950) (14,181)
FINANCING ACTIVITIES    
Principal payments on term loans, equipment line, revolving credit facility and other financing (35,458) (3,915)
Cash proceeds from 2019 equipment line, equipment line, revolving credit facility and other financing 31,861 7,462
Debt issuance costs (3)
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans (1,269) (295)
Cash proceeds from stock plans 190 237
Common stock - issued 250
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (4,426) 3,486
Net change in cash and cash equivalents (708) (1,161)
Cash and cash equivalents, beginning of period 2,647 4,318
Cash and cash equivalents, end of period $ 1,939 $ 3,157