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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net (loss) income $ (211) $ 7,806
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization expense 2,099 1,184
Stock-based compensation 1,042 850
Net pension cost (payment) 180 (365)
Deferred income taxes (326) 0
Changes in assets and liabilities:    
Accounts receivable and contract assets 3,313 (581)
Prepaid expenses, income tax receivable and other current assets 2,710 526
Accounts payable and accrued expenses (4,433) 1,510
Deferred revenue and customer advances 2,111 2,222
Customer postage and program deposits 440 (1,745)
Other accrued expenses and liabilities (2,338) (1,545)
Net cash provided by operating activities 4,587 9,862
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (1,256) (3,616)
Proceeds from sale of property, plant and equipment 1 57
Net cash used in investing activities (1,255) (3,559)
Cash Flows from Financing Activities    
Borrowings 0 5,000
Debt financing costs (6) (123)
Payment of finance leases (95) (101)
Repurchase of common stock (1,879) 0
Treasury stock activities (332) (268)
Net cash (used in) provided by financing activities (2,312) 4,508
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,980 (3,111)
Net increase in cash and cash equivalents and restricted cash 3,000 7,700
Cash and cash equivalents and restricted cash at beginning of period 11,364 15,133
Cash and cash equivalents and restricted cash at end of period 14,364 22,833
Supplemental disclosures    
Cash paid for interest 164 186
Cash (received) paid for income taxes, net (4,668) 478
Non-cash investing and financing activities    
Purchases of property, plant and equipment included in accounts payable 2,009 2,576
Cash and cash equivalents 13,364 10,570
Restricted cash 0 2,337
Cash held in Escrow account included in other current assets (see Note L) 1,000 9,926
Cash and cash equivalents and restricted cash at end of period $ 14,364 $ 22,833