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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 6,038 $ 5,929
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,373 2,624
Stock-based compensation 1,167 927
Fair value adjustment to contingent consideration obligations (32) 47
Provision for doubtful accounts 60 59
Provision for inventory write-downs 498 1,005
Foreign currency transaction loss (428) 33
Changes in operating assets and liabilities:    
Accounts receivable (1,951) (857)
Inventory and other deferred costs (1,267) (1,346)
Prepaid expenses and other assets 1,692 638
Accounts payable and other liabilities (3,439) (2,985)
Net cash provided by operating activities 4,711 6,074
Investing activities    
Purchases of property and equipment and other assets (536) (1,059)
Purchases of short-term marketable securities 0 (1)
Net cash used in investing activities (536) (1,060)
Financing activities    
Payments of long-term debt 0 (7,000)
Proceeds from stock option exercises 508 1,385
Purchase of treasury stock for net settlement of equity awards (145) (88)
Common stock cash dividend paid (2,743) (2,262)
Net cash used in financing activities (2,380) (7,965)
Effect of exchange rate changes on cash and cash equivalents (90) (288)
Net increase (decrease) in cash and cash equivalents 1,705 (3,239)
Cash and cash equivalents at beginning of period 13,855 26,764
Cash and cash equivalents at end of period $ 15,560 $ 23,525