XML 30 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 9,456 $ 12,165 $ 5,519
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 4,754 4,645 4,187
Deferred income tax expense 8,864 3,932 1,327
Stock-based compensation 2,745 2,260 2,269
Other (gain) loss (46) (3) 36
Changes in operating assets and liabilities:      
Accounts receivable 5,156 (4,700) (4,216)
Inventories (13,834) (4,731) (7,240)
Due from related parties 99 (59) 851
Lease receivable, current (1,244) (736) (89)
Other current assets (469) 883 (1,000)
Accounts payable 3,143 (688) 3,059
Due to related parties 250 1,356 (30)
Accrued liabilities and other (1,293) (351) 73
Lease receivable, non-current (4,782) (3,867) (967)
Other non-current assets (989) (1,951) (1,463)
Deferred revenue and other (1,401) (2,300) (191)
Net cash provided by operating activities 10,409 5,855 2,125
CASH FLOWS FROM INVESTING ACTIVITIES:      
Proceeds from sale of equity investment 0 115 0
Purchase of minority interest (13,757) 0 0
Purchases of property and equipment (3,469) (3,417) (3,773)
Proceeds from disposition of property and equipment 57 0 0
Net cash used in investing activities (17,169) (3,302) (3,773)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 2,452 2,382 2,143
Repurchase of common stock (1,076) (762) (885)
Distributions to non-controlling interest members (965) 0 0
Proceeds from line of credit borrowings 40,307 34,792 26,809
Repayments of line of credit borrowings (34,979) (34,262) (26,714)
Repayments of other debt (68) (747) (141)
Payment of debt issuance costs (120) 0 0
Excess tax benefit from stock-based compensation 0 0 1,514
Net cash provided by financing activities 5,551 1,403 2,726
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH 74 (52) (43)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (1,135) 3,904 1,035
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 10,794 6,890 5,855
CASH AND CASH EQUIVALENTS, END OF YEAR 9,659 10,794 6,890
NON-CASH TRANSACTIONS:      
Common stock issued as partial consideration of acquisition of Cuattro Veterinary International, LLC $ 0 $ 6,349 $ 0