XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Income from continuing operations $ 23,127 $ 16,951
Loss from discontinued operations (559) (67)
Net income 22,568 16,884
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 5,748 2,511
Provision for (benefit from) allowance for doubtful accounts 183 (118)
Inventory lower-of-cost-or-market adjustments 72 136
Stock-based compensation expense 2,045 1,073
Loss on asset dispositions 107 289
Deferred income taxes, net of valuation allowance 5,707 9,503
Excess tax (benefit) deficiency related to stock-based awards (1,852) 1
Other 6 0
Changes in operating assets and liabilities:    
Trade receivables 13,633 7,514
Inventories (4,716) (10,748)
Prepaids and other current assets (413) 1,205
Income taxes receivable (5,397) (82)
Trade payables (15,475) (9,030)
Accrued liabilities, including warranty obligations (7,286) (630)
Net cash provided by operating activities 14,930 18,508
Cash flows from investing activities:    
Purchases of available-for-sale securities (22,972) (55,230)
Proceeds from maturities of available-for-sale securities 24,818 33,186
Proceeds from sales of available-for-sale securities 71 3,381
Acquisition of business, net of cash acquired (3,468) 0
Purchases of property, plant and equipment (3,237) (3,604)
Net cash used in investing activities (4,788) (22,267)
Cash flows from financing activities:    
Payments on long-term debt (12,000) 0
Payments for stock repurchases 0 (11,568)
Proceeds from exercise of stock options and employee stock plan purchases 531 1,001
Tax payments related to stock award issuances (221) (775)
Excess tax benefit (deficiency) related to stock-based awards 1,852 (1)
Net cash used in financing activities (9,838) (11,343)
Effect of exchange rate changes on cash and cash equivalents 87 (1,083)
Increase (decrease) in cash and cash equivalents 391 (16,185)
Cash and cash equivalents:    
Beginning of period 30,778 45,206
End of period 31,169 29,021
Supplemental disclosure of cash flow information:    
Cash paid for interest (1,462) (17)
Cash paid for income taxes, net (11,331) (917)
Supplemental disclosure of non-cash investing activities:    
Capital expenditures incurred but not yet paid $ 922 $ 602