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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities    
Net income $ 7,305 $ 16,726
Adjustments to reconcile net income to net cash provided by (used for) operating activities    
Depreciation 3,966 3,553
Amortization 1,295 2,271
Non-cash stock-based compensation expense 1,153 653
Gain on disposal of fixed assets 0 (7)
Gain on sale of notes receivable 0 (11,924)
Other (1,288) 241
Other long-term liabilities 8 (104)
Cash flows provided by (used for) working capital    
Accounts receivable (10,901) (3,524)
Inventories (3,861) (5,209)
Prepaid expenses and other current assets (4,854) (218)
Accounts payable and accrued expenses 13,765 2,569
Net cash provided by (used for) operating activities 6,588 5,027
Cash Flows From Investing Activities    
Capital expenditures (5,238) (2,490)
Acquisition of business (1,223) (691)
Proceeds on sale of notes receivable 0 1,200
Net cash provided by (used for) investing activities (6,461) (1,981)
Cash Flows From Financing Activities    
Net borrowings from revolving credit facility 33,000 0
Repayments of long-term debt (40,000) 0
Payments on finance lease (40) 0
Cash dividends paid (4,906) (4,899)
Proceeds from issuance of common stock 1,900 125
Shares withheld for employee taxes on equity awards (663) (362)
Deferred financing fees (1,095) 0
Net cash provided by (used for) financing activities (11,804) (5,136)
Foreign exchange rate effect on cash 42 (223)
Net decrease in cash (11,635) (2,313)
Cash at January 1 28,301 75,527
Cash at March 31 $ 16,666 $ 73,214