XML 20 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows provided by operating activities:    
Net income $ 2,319 $ 2,139
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,419 3,400
Amortization of purchased intangible assets 5,292 5,667
Amortization of deferred debt issuance costs 190 138
Stock-based compensation 1,549 5,027
Deferred income taxes (546) 178
Other (985) (405)
Change in:    
Accounts receivable, net 962 (14,664)
Inventories (5,910) (22,678)
Prepaid expenses and other 3,022 1,131
Accounts payable 10,660 24,336
Contract liabilities (2,391) (906)
Accrued expenses and other liabilities (4,141) 3,702
Net cash provided by operating activities 13,440 7,065
Cash flows provided by (used in) investing activities:    
Proceeds from maturities of marketable securities 3,000 0
Proceeds from sales of marketable securities 9,619 0
Acquisition of property, plant and equipment (2,968) (2,226)
Net cash provided by (used in) investing activities 9,651 (2,226)
Cash flows used in financing activities:    
Repayments on term loan (117,500) (6,250)
Borrowings on term loan 50,000 0
Borrowings on revolving loans 70,450 0
Repayments on revolving loans (30,450) 0
Payment of debt issuance costs (2,735) 0
Distributions to redeemable noncontrolling interest holder (3,125) (2,600)
Treasury stock purchases (936) (2,157)
Net cash used in financing activities (34,296) (11,007)
Effects of exchange rates on cash 609 671
Net decrease in cash and cash equivalents (10,596) (5,497)
Cash and cash equivalents, beginning of the period 31,040 25,144
Cash and cash equivalents, end of the period $ 20,444 $ 19,647