Who is Williams Industrial

Cash Flow

v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities:    
Net income (loss) $ (1,001) $ 303
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Net loss from discontinued operations 72 92
Deferred income tax provision (benefit) 33 45
Depreciation and amortization on plant, property and equipment 41 72
Amortization of deferred financing costs 182 154
Bad debt expense 3 189
Stock-based compensation 472 305
Changes in operating assets and liabilities, net of businesses sold:    
Accounts receivable 5,444 (2,421)
Contract assets (9,413) (2,923)
Other current assets (2) (54)
Other assets (596) 403
Accounts payable (3,122) 5,964
Accrued and other liabilities 4,230 517
Contract liabilities 701 (76)
Net cash provided by (used in) operating activities, continuing operations (2,956) 2,570
Net cash provided by (used in) operating activities, discontinued operations (83) (212)
Net cash provided by (used in) operating activities (3,039) 2,358
Investing activities:    
Purchase of property, plant and equipment (42) (68)
Net cash provided by (used in) investing activities (42) (68)
Financing activities:    
Repurchase of stock-based awards for payment of statutory taxes due on stock-based compensation (65) (121)
Proceeds from issuance of common stock 6,532  
Debt issuance costs (442)  
Proceeds from short-term borrowings 53,460 42,266
Repayments of short-term borrowings (57,913) (45,497)
Repayments of long-term debt   (88)
Net cash provided by (used in) financing activities 1,572 (3,440)
Effect of exchange rate change on cash, continuing operations (136)  
Net change in cash, cash equivalents and restricted cash (1,645) (1,150)
Cash, cash equivalents and restricted cash, beginning of period 7,818 4,942
Cash, cash equivalents and restricted cash, end of period 6,173 3,792
Supplemental Disclosures:    
Cash paid for interest 716 $ 1,092
Noncash amendment fee related to MidCap facility $ 150  

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