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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net income $ 9,080 $ 8,569
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,449 2,965
Stock-based compensation expense 2,668 1,386
Deferred tax expense 218 261
Loss on revaluation of contingent consideration 2,114 126
Loss on disposal of assets 1 3
Bad debt reserve 11  
Changes in assets and liabilities:    
Accounts receivable (2,767) (763)
Other receivables 183 6,678
Inventories (4,051) (1,347)
Prepaid expenses and other current assets 699 88
Accounts payable (749) 921
Accrued liabilities 1,085 (1,984)
Long-term liabilities (240) (255)
Net cash provided by operating activities 11,701 16,648
Cash flows from investing activities:    
Purchases of marketable securities (14,090) (24,236)
Redemptions of marketable securities 18,264 30,117
Acquisition of assets of Refine Technology, LLC   (21,236)
Increase in restricted cash   (250)
Purchases of property, plant and equipment (2,055) (2,964)
Net cash provided by (used in) investing activities 2,119 (18,569)
Cash flows from financing activities:    
Exercise of stock options 927 1,486
Payment of contingent considerations (99) (604)
Net cash provided by financing activities 828 882
Effect of exchange rate changes on cash and cash equivalents (1,927) (2,884)
Net increase (decrease) in cash and cash equivalents 12,721 (3,923)
Cash and cash equivalents, beginning of period 35,363 39,830
Cash and cash equivalents, end of period 48,084 35,907
Supplemental disclosure of non-cash investing activities:    
Income taxes paid $ 2,671 $ 671