XML 26 R7.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows From Operating Activities:      
Net income $ 13,643 $ 17,022 $ 15,925
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 15,985 14,857 11,576
Deferred income taxes (519) (112) (76)
Loss on sale of assets 97 247 19
Provision for doubtful accounts 91 (5) 192
Provision for excess and obsolete inventory 1,106 408 682
Provision for warranty 34 210 (13)
Debt issue cost amortization recorded in interest expense 144 174 148
Restricted stock compensation 3,550 3,203 2,643
Other (521) 21 57
Changes in operating assets and liabilities, net of acquisition:      
Trade receivables 2,711 (1,456) (4,110)
Inventories (4,686) 70 (17,327)
Prepaid expenses and other assets (2,264) (517) (835)
Accounts payable (1,874) (1,809) 6,533
Accrued liabilities (2,659) 2,217 2,038
Net cash provided by operating activities 24,838 34,530 17,452
Cash Flows From Investing Activities:      
Consideration paid for acquisitions, net of cash acquired (14,728)   (77,413)
Purchase of property and equipment (9,371) (14,882) (14,333)
Net cash used in investing activities (24,099) (14,882) (91,746)
Cash Flows From Financing Activities:      
Repayments on lines of credit     (454)
Principal payments of long-term debt (16,897) (22,500) (13,278)
Proceeds from issuance of long-term debt 26,979 9,639 83,163
Payment of debt issuance costs (401)   (72)
Sale of restricted stock     1,076
Dividends paid to stockholders (1,160) (1,170) (1,079)
Tax withholdings related to net share settlements of restricted stock (1,032) (746) (1,579)
Net cash provided by (used in) financing activities 7,489 (14,777) 67,777
Effect of foreign exchange rate changes on cash 1,487 (128) (400)
Net increase (decrease) in cash and cash equivalents 9,715 4,743 (6,917)
Cash and cash equivalents at beginning of period 13,416 8,673 15,590
Cash and cash equivalents at end of period 23,131 13,416 8,673
Supplemental disclosure of cash flow information:      
Interest paid 3,586 5,342 2,272
Income taxes paid 8,563 2,051 7,014
Property, plant and equipment purchases in accounts payable or accrued expenses $ 596 $ 378 $ 599