XML 36 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Income from continuing operations $ 5,748 $ 5,524
Loss from discontinued operations (374) (365)
Net income 5,374 5,159
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 865 818
Bad debt expense 30 169
Inventory lower-of-cost-or-market adjustments 589 0
Stock-based compensation expense 265 214
Loss on asset dispositions 1 14
Deferred income taxes, net of valuation allowance 2,321 257
Excess tax deficiency related to stock-based awards 102 0
Changes in operating assets and liabilities:    
Trade receivables, net 11,752 9,280
Inventories 1,765 5,130
Prepaids and other current assets 2,617 1,498
Income taxes payable 356 (105)
Trade payables (9,830) (14,968)
Accrued liabilities, including warranty obligations (1,085) (1,431)
Net cash provided by operating activities 15,122 6,035
Cash flows from investing activities:    
Purchase of marketable securities (13,518) 0
Proceeds from sale of assets of discontinued operations 0 96
Purchases of property, plant and equipment (521) (762)
Net cash used in investing activities (14,039) (666)
Cash flows from financing activities:    
Proceeds from exercise of stock options 42 147
Excess tax deficiency related to stock-based awards (102) 0
Net cash provided by (used in) financing activities (60) 147
Effect of exchange rate changes on cash and cash equivalents 33 (43)
Increase in cash and cash equivalents 1,056 5,473
Cash and cash equivalents:    
Beginning of period 40,979 23,207
End of period 42,035 28,680
Supplemental disclosure of cash flow information:    
Cash paid for interest 7 10
Cash paid for income taxes, net $ 95 $ 109