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, 2020
Dec. 31, 2019
OPERATING ACTIVITIES    
Net income $ 17,332 $ 1,361
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 791 37
Depreciation 9,740 7,940
Loss on disposal of medical equipment and other assets 418 638
Gain on sale of medical equipment (3,577) (1,453)
Amortization of intangible assets 4,285 4,402
Amortization of deferred debt issuance costs 17 37
Stock-based compensation 2,610 997
Deferred income taxes (10,071) 104
Changes in Assets - Increase:    
Accounts receivable (2,631) (1,560)
Inventories (102) (645)
Other current assets (740) (290)
Other assets (186) (129)
Changes in Liabilities - Increase:    
Accounts payable and other liabilities 2,394 2,436
NET CASH PROVIDED BY OPERATING ACTIVITIES 20,280 13,875
INVESTING ACTIVITIES    
Purchase of medical equipment (15,820) (19,669)
Purchase of property and equipment (1,094) (2,926)
Proceeds from sale of medical equipment, property and equipment 4,752 2,952
NET CASH USED IN INVESTING ACTIVITIES (12,162) (19,643)
FINANCING ACTIVITIES    
Principal payments on term loans, equipment line, revolving credit facility and other financing (37,180) (4,868)
Cash proceeds from 2019 equipment line, equipment line, revolving credit facility and other financing 37,587 9,436
Debt issuance costs (6)
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans (1,714) (717)
Cash proceeds from stock plans 190 252
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (1,117) 4,097
Net change in cash and cash equivalents 7,001 (1,671)
Cash and cash equivalents, beginning of year 2,647 4,318
Cash and cash equivalents, end of year 9,648 2,647
SUPPLEMENTAL DISCLOSURES    
Cash paid for interest 1,214 1,705
Cash paid for income taxes 102 111
NON-CASH TRANSACTIONS    
Additions to medical equipment and property [1] $ 793 $ 2,773
[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, 2020 and 2019, respectively, but will be included as a cash outflow from investing activities for purchases of medical equipment and property when paid.