XML 20 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 394,000 $ 1,160,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation expense 145,000 134,000
Incremental tax benefits from stock options exercised   (3,000)
Depreciation and amortization 360,000 454,000
Foreign currency transaction (gains) losses 8,000 (37,000)
Changes in operating assets and liabilities:    
Accounts receivable 329,000 5,133,000
Inventories (41,000) (900,000)
Prepaid income taxes 198,000  
Other current and long term assets (212,000) (282,000)
Accounts payable (27,000) (2,398,000)
Accrued liabilities and other liabilities (10,000) (942,000)
Net cash provided by operating activities 1,144,000 2,319,000
Cash flows from investing activities:    
Capital expenditures (288,000) (226,000)
Additions to capitalized software   (42,000)
Net cash used in investing activities (288,000) (268,000)
Cash flows from financing activities:    
Proceeds from stock option exercises 56,000 80,000
Payment of dividends on common stock (582,000) (519,000)
Purchases of common stock for treasury   (692,000)
Incremental tax benefits from stock options exercised   3,000
Net cash used in financing activities (582,000) (1,128,000)
Effect of exchange rate changes on cash and cash equivalents (5,000) (11,000)
Increase in cash and cash equivalents 269,000 912,000
Cash and cash equivalents, beginning of period 2,936,000 7,537,000
Cash and cash equivalents, end of period $ 3,205,000 $ 8,449,000