Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES    
Net income $ 1,481 $ 3,722
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts (109) 523
Depreciation 5,090 4,782
Loss on disposal of and reserve adjustments for medical equipment 640 77
Gain on sale of medical equipment (375) (3,224)
Amortization of intangible assets 2,139 2,150
Amortization of deferred debt issuance costs 114 9
Stock-based compensation 3,007 563
Deferred income taxes (658) 12
Changes in assets - (increase)/decrease:    
Accounts receivable (329) (2,115)
Inventories (647) (1,363)
Other current assets 138 205
Other assets (70) (123)
Changes in liabilities - (decrease)/increase:    
Accounts payable and other liabilities (1,607) (956)
NET CASH PROVIDED BY OPERATING ACTIVITIES 8,814 4,262
INVESTING ACTIVITIES    
Acquisition of business (7,490) 0
Purchase of medical equipment (4,943) (8,783)
Purchase of property and equipment (334) (680)
Proceeds from sale of medical equipment, property and equipment 1,503 971
NET CASH USED IN INVESTING ACTIVITIES (11,264) (8,492)
FINANCING ACTIVITIES    
Principal payments on long-term debt (53,982) (23,777)
Cash proceeds from long-term debt 47,913 26,259
Debt issuance costs (386) 0
Common stock repurchased to satisfy statutory withholding on employee stock-based compensation plans (1,141) (741)
Cash proceeds from stock plans 562 74
Common stock - issued 0 250
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (7,034) 2,065
Net change in cash and cash equivalents (9,484) (2,165)
Cash and cash equivalents, beginning of period 9,648 2,647
Cash and cash equivalents, end of period $ 164 $ 482