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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net income $ 6,040 $ 6,038
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,351 2,373
Stock-based compensation 1,290 1,167
Provision for inventory write-downs 334 498
Loss on divestitures 305 0
Foreign currency effect on net income 54 (428)
Fair value adjustment to contingent consideration obligations 25 (32)
Provision for doubtful accounts (7) 60
Changes in operating assets and liabilities:    
Accounts receivable (3,242) (1,951)
Inventory and other deferred costs (3,755) (1,267)
Prepaid expenses and other assets 1,224 1,692
Accounts payable and other liabilities (2,340) (3,439)
Net cash provided by operating activities 2,279 4,711
Investing activities    
Purchases of property and equipment and other assets (2,130) (536)
Purchases of short-term marketable securities (564) 0
Payments related to acquisitions (270) 0
Net cash used in investing activities (2,964) (536)
Financing activities    
Proceeds from stock option exercises 1,446 508
Purchase of treasury stock for net settlement of equity awards (172) (145)
Common stock cash dividend paid (3,099) (2,743)
Net cash used in financing activities (1,825) (2,380)
Effect of exchange rate changes on cash and cash equivalents 53 (90)
Net increase (decrease) in cash and cash equivalents (2,457) 1,705
Cash and cash equivalents at beginning of period 19,134 13,855
Cash and cash equivalents at end of period $ 16,677 $ 15,560