XML 26 R8.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows From Operating Activities:      
Net income $ 17,022 $ 15,925 $ 8,036
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 14,857 11,576 10,274
Deferred income taxes (112) (76) 3,713
Loss on sale of assets 247 19  
Provision for doubtful accounts (5) 192 39
Provision for excess and obsolete inventory 408 682 480
Provision for warranty 210 (13) 234
Debt issue cost amortization recorded in interest expense 174 148 165
Restricted stock compensation 3,203 2,643 2,026
Other 21 57 (756)
Changes in operating assets and liabilities, net of acquisition:      
(Increase) decrease in trade receivables (1,456) (4,110) (4,051)
(Increase) decrease in inventories 70 (17,327) 18
(Increase) decrease in prepaid expenses and other assets (517) (835) (328)
Increase (decrease) in accounts payable (1,809) 6,533 1,277
Increase (decrease) in accrued liabilities and other liabilities 2,217 2,038 4,280
Net cash provided by operating activities 34,530 17,452 25,407
Cash Flows From Investing Activities:      
Consideration paid for acquisitions, net of cash acquired   (77,413)  
Purchase of property and equipment (14,882) (14,333) (6,201)
Net cash used in investing activities (14,882) (91,746) (6,201)
Cash Flows From Financing Activities:      
Borrowings (repayments) on lines-of-credit   (454) (518)
Principal payments of long-term debt (22,500) (13,278) (18,389)
Proceeds from issuance of long-term debt 9,639 83,163  
Payment of debt issuance costs   (72)  
Sale of restricted stock   1,076  
Dividends paid to stockholders (1,170) (1,079) (959)
Tax withholdings related to net share settlements of restricted stock (746) (1,579) (1,513)
Stock transactions under employee benefit stock plans     1,213
Net cash (used in) provided by financing activities (14,777) 67,777 (20,166)
Effect of foreign exchange rate changes on cash (128) (400) 1,067
Net increase (decrease) in cash and cash equivalents 4,743 (6,917) 107
Cash and cash equivalents at beginning of period 8,673 15,590 15,483
Cash and cash equivalents at end of period 13,416 8,673 15,590
Net cash paid during the period for:      
Interest 5,342 2,272 2,261
Income taxes $ 2,051 $ 7,014 $ 2,087