Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
OPERATING ACTIVITIES    
Net income (loss) $ 1,361 $ (1,095)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for doubtful accounts 37 (218)
Depreciation 7,940 6,659
Loss on disposal of medical equipment 638 434
Gain on sale of medical equipment (1,453) (1,340)
Amortization of intangible assets 4,402 4,649
Amortization of deferred debt issuance costs 37 33
Stock-based compensation expense 997 957
Deferred income tax expense (benefit) 104 (62)
Changes in Assets - (Increase)/Decrease:    
Accounts receivable (1,560) 1,909
Inventories (645) (490)
Other current assets (290) (222)
Other assets (129) (6)
Changes in Liabilities - Increase:    
Accounts payable and other liabilities 2,436 183
NET CASH PROVIDED BY OPERATING ACTIVITIES 13,875 11,391
INVESTING ACTIVITIES    
Purchases of medical equipment (19,669) (8,022)
Purchases of property and equipment (2,926) (281)
Proceeds from sale of medical equipment, property and equipment 2,952 3,319
NET CASH USED IN INVESTING ACTIVITIES (19,643) (4,984)
FINANCING ACTIVITIES    
Principal payments on term loans, capital lease obligations and other financing (4,868) (6,319)
Cash proceeds from term loans, equipment line and other financing 9,436 11,162
Debt issuance costs (6) (27)
Cash proceeds from stock plans 252 91
Common stock repurchased as part of Repurchase Program (10,395)
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans (717) (70)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 4,097 (5,558)
Net change in cash and cash equivalents (1,671) 849
Cash and cash equivalents, beginning of year 4,318 3,469
Cash and cash equivalents, end of year 2,647 4,318
SUPPLEMENTAL DISCLOSURES    
Cash paid for interest 1,705 1,383
Cash paid for income taxes 111 159
NON-CASH TRANSACTIONS    
Additions to medical equipment and property [1] $ 2,773 $ 998
[1] Amounts consist of current liabilities for medical equipment that have not been included in investing activities. These amounts have not been paid for as of December 31, 2019 and 2018, respectively, but will be included as a cash outflow from investing activities for purchases of medical equipment and property when paid.