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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
shares in Thousands, $ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities:    
Net income $ 19,750 $ 13,693
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation and amortization 18,956 19,222
Deferred income taxes 122 2,775
Stock-based compensation expense 4,165 3,752
Debt issue cost amortization recorded in interest expense 225 127
Other 987 785
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (14,358) (27,560)
Inventories (1,344) (25,782)
Prepaid expenses and other assets (1,553) (3,133)
Accounts payable 2,871 6,501
Accrued liabilities (2,689) 3,796
Net cash provided by (used in) operating activities 27,132 (5,824)
Cash Flows From Investing Activities:    
Consideration paid for acquisitions, net of cash acquired (11,004) (44,596)
Purchase of property and equipment (7,850) (11,026)
Net cash used in investing activities (18,854) (55,622)
Cash Flows From Financing Activities:    
Proceeds from issuance of long-term debt 11,000 69,952
Principal payments of long-term debt and finance lease obligations (22,325) (6,514)
Dividends paid to stockholders (1,348) (1,147)
Tax withholdings related to net share settlements of restricted stock (1,827) (1,334)
Net cash (used in) provided by financing activities (14,500) 60,957
Effect of foreign exchange rate changes on cash (556) (2,269)
Net (decrease) increase in cash and cash equivalents (6,778) (2,758)
Cash and cash equivalents at beginning of period 30,614 22,463
Cash and cash equivalents at end of period $ 23,836 $ 19,705
Supplemental disclosure of cash flow information:    
Stock issued for acquisition 7,329 11,103
Property, plant and equipment purchases in accounts payable or accrued expenses $ 1,960 $ 719
Accrued consideration for acquisitions $ 185