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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 3,174 $ 3,513
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,538 1,284
Stock-based compensation 779 746
Fair value adjustment to contingent consideration obligations 64 44
Provision for doubtful accounts 71 121
Provision for inventory write-downs 196 238
Foreign currency transaction loss 208 (54)
Changes in operating assets and liabilities:    
Accounts receivable (368) 30
Inventory and other deferred costs (1,861) (2,370)
Prepaid expenses and other assets 659 (261)
Accounts payable and other liabilities (3,271) (3,510)
Net cash provided by (used in) operating activities 1,189 (219)
Investing activities    
Purchases of property and equipment and other assets (863) (802)
Purchases of short-term marketable securities (2,103) (10,954)
Sales of short-term marketable securities 3,000
Payments related to acquisitions (59)
Net cash used in investing activities (25) (11,756)
Financing activities    
Payments of deferred acquisition consideration (33)
Proceeds from issuance of common stock 233 457
Purchase of treasury stock (57)
Common stock cash dividend paid (1,917)
Net cash provided by (used in) financing activities (1,741) 424
Effect of exchange rate changes on cash and cash equivalents (265) (1)
Net increase (decrease) in cash and cash equivalents (842) (11,552)
Cash and cash equivalents at beginning of period 11,786 26,318
Cash and cash equivalents at end of period $ 10,944 $ 14,766