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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows provided by (used in) operating activities:    
Net income $ 32,414 $ 10,292
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 3,955 3,171
Amortization of purchased intangible assets 795 1,596
Amortization of deferred debt issuance costs 83 224
Stock-based compensation 2,666 1,792
Deferred income taxes 424 33
Loss on disposal of property, plant and equipment (317) (26)
Restructuring expenses 402 361
Transition tax liability 0 (268)
Change in:    
Accounts receivable, net (16,123) (14,198)
Inventories (8,636) (18,790)
Prepaid expenses and other 3,850 (513)
Accounts payable 12,657 8,813
Contract liabilities 936 (3,509)
Accrued anti-dumping duties and penalties (8,000) 2,958
Accrued expenses and other liabilities (2,438) 6,433
Net cash provided by (used in) operating activities 23,302 (1,579)
Cash flows used in investing activities:    
Acquisition of property, plant and equipment (16,283) (16,201)
Proceeds on sale of property, plant and equipment 1,258 0
Net cash used in investing activities (15,025) (16,201)
Cash flows provided by (used in) financing activities:    
(Repayments) borrowings on bank lines of credit, net (3,999) 4,822
(Repayments) borrowings on capital expenditure facility (1,562) 11,803
Payment of dividends (598) (593)
Payment of debt issuance costs 0 (131)
Net proceeds from issuance of common stock to employees and directors 358 230
Treasury stock purchases (956) (383)
Net cash provided by (used in) financing activities (6,757) 15,748
Effects of exchanges rates on cash (14) (322)
Net increase (decrease) in cash and cash equivalents 1,506 (2,354)
Cash and cash equivalents, beginning of the period 13,375 8,983
Cash and cash equivalents, end of the period 14,881 $ 6,629
Supplemental disclosure of cash flow information:    
Non-cash lease liabilities arising from obtaining right-of-use assets (Note 6) $ 8,821