XML 40 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Income from continuing operations $ 16,951 $ 9,910
Loss from discontinued operations (67) (1,492)
Net income 16,884 8,418
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 2,511 2,887
Provision for (benefit from) allowance for doubtful accounts (118) 38
Inventory lower-of-cost-or-market adjustments 136 305
Stock-based compensation expense 1,073 887
Loss on asset dispositions 289 13
Deferred income taxes, net of valuation allowance 9,503 4,142
Excess tax deficiency related to stock-based awards 1 288
Changes in operating assets and liabilities:    
Trade receivables 7,514 6,855
Inventories (10,748) (5,844)
Prepaids and other current assets 1,205 763
Income taxes (82) 469
Trade payables (9,030) (16,079)
Accrued liabilities, including warranty obligations (630) 196
Net cash provided by operating activities 18,508 3,338
Cash flows from investing activities:    
Purchases of available-for-sale securities (55,230) (20,973)
Proceeds from maturities of available-for-sale securities 33,186 2,980
Proceeds from sales of available-for-sale securities 3,381 0
Purchases of property, plant and equipment and intangible assets (3,604) (2,558)
Net cash used in investing activities (22,267) (20,551)
Cash flows from financing activities:    
Proceeds from exercise of stock options 1,001 270
Payments for stock repurchases (11,568) 0
Tax payments related to stock award issuances (775) 0
Excess tax deficiency related to stock-based awards (1) (288)
Net cash used in financing activities (11,343) (18)
Effect of exchange rate changes on cash and cash equivalents (1,083) (8)
Decrease in cash and cash equivalents (16,185) (17,239)
Cash and cash equivalents:    
Beginning of period 45,206 40,979
End of period 29,021 23,740
Supplemental disclosure of cash flow information:    
Cash paid for interest (17) (21)
Cash paid for income taxes, net (917) (384)
Supplemental disclosure of non-cash investing activities:    
Capital expenditures incurred but not yet paid $ 602 $ 107