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, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net loss $ (1,148) $ (7,234) $ (9,779)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 46,908 43,761 42,050
Loss on dispositions of property and equipment 777 292 53
Deferred income tax benefit (3,624) (5,613) (4,227)
Deferred financing and original issue discount amortization 2,492 2,180 2,011
Stock-based compensation expense 9,006 714 0
Other non-cash interest and change in value of interest rate swap (418) (787) 1,250
Changes in operating items:      
Accounts receivable (9,098) 1,459 (4,579)
Inventories (11,467) (10,239) (2,379)
Other assets (4,089) (4,109) (4,047)
Accounts payable 8,409 (2,184) 600
Other accrued liabilities 2,712 4,968 2,217
Other items, net 1,065 72 1,291
Net cash provided by operating activities 41,525 23,280 24,461
Cash flows from investing activities:      
Paulin Acquisition (103,416)     
Ook acquisition       (15,323)
Tagworks acquisition       (40,271)
Capital expenditures (38,038) (24,305) (17,927)
Proceeds from sale of property and equipment 799 3  
Net cash used for investing activities (140,655) (24,302) (73,521)
Cash flows from financing activities:      
Borrowings of senior term loans 76,800    30,000
Repayments of senior term loans (3,776) (3,200) (2,975)
Discount on senior term loans (3,152)   (2,000)
Borrowings of revolving credit loans    19,000 9,444
Repayments of revolving credit loans    (19,000) (21,444)
Payment of additional acquisition consideration    (12,387) (12,490)
Principal payments under capitalized lease obligations (503) (47) (30)
Borrowings of senior notes    65,000 50,000
Premium on senior notes    4,225 4,625
Financing fees, net      (1,372)
Borrowings under other credit obligations 324 1,119  
Repayments of other credit obligations (683) (297)  
Net cash provided by financing activities 69,010 54,413 53,758
Effect of exchange rate changes on cash (459) 130 (256)
Net (decrease) increase in cash and cash equivalents (30,579) 53,521 4,442
Cash and cash equivalents at beginning of period 65,548 12,027 7,585
Cash and cash equivalents at end of period $ 34,969 $ 65,548 $ 12,027