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, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash Flows from Operating Activities:      
Net loss $ (53,907) $ (522) $ (2,382)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization and depreciation 7,549 6,115 4,868
Stock-based compensation 2,976 2,141 2,719
Change in fair value of contingent consideration (1,433) (2,248) 864
Impairment of goodwill 10,702    
Impairment of intangible assets 10,480    
Restructuring expense, including $9,256 recorded in Cost of sales 16,908    
Other noncash items affecting net income (185) 1,349  
Changes in operating assets and liabilities, net of the effect of the acquisition:      
(Increase) decrease in trade receivables, net 13,613 (11,780) (15,111)
(Increase) decrease in unbilled contracts receivable 4,084 (5,224) (2,246)
(Increase) decrease in inventories, net (7,371) (4,430) (7,234)
(Increase) decrease in prepaid and other assets (4,857) (4,822) (699)
Increase (decrease) in accounts payable and accrued liabilities (5,559) 13,216 2,532
Net cash used in operating activities (7,000) (6,205) (16,689)
Cash Flows from Investing Activities:      
Payment of acquisition obligations (284) (1,015)  
Purchase of property and equipment and other (1,059) (555) (462)
Acquisition of business and other, net of cash acquired (530) (11,360) (10,499)
Net cash used in investing activities (1,873) (12,930) (10,961)
Cash Flows from Financing Activities:      
Net proceeds from revolving credit facility 12,640 3,967 13,266
Proceeds from related party notes payable 10,655    
Repayments of notes payable and short-term borrowings (12,360) (360) (390)
Repayments of related party notes payable (2,000)    
Proceeds from issuance of common stock, net of issuance costs   16,192 8,960
Net cash provided by financing activities 8,935 19,799 21,836
Net increase (decrease) in cash and cash equivalents 62 664 (5,814)
Cash and cash equivalents, beginning of year 883 219 6,033
Cash and cash equivalents, end of year 945 883 219
Supplemental Disclosure of Cash Flow Information:      
Cash paid during the period for interest 3,099 1,837 688
Non-Cash Investing and Financing Activities:      
Contingent consideration for acquisitions   4,132 1,550
Issuance of promissory notes for acquisition   2,000 10,000
Deferred consideration for acquisition     350
Common Stock | Contingent Consideration      
Non-Cash Investing and Financing Activities:      
Issuance of stock $ 1,196 $ 6,629 6,316
Common Stock | Value Lighting      
Non-Cash Investing and Financing Activities:      
Issuance of stock     $ 9,702