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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 5,496 $ 6,542
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 2,465 2,295
Non-cash interest expense 382  
Stock-based compensation expense 2,059 1,687
Deferred tax expense 218 173
Loss on revaluation of contingent consideration 2,642 1,881
Gain on sale of fixed assets (15)  
Loss on disposal of assets 26 1
Changes in assets and liabilities:    
Accounts receivable 892 (6,820)
Other receivables (318) (283)
Inventories (5,093) (2,380)
Prepaid expenses and other current assets 793 981
Accounts payable 511 586
Accrued liabilities (3,239) 875
Long-term liabilities (66) (425)
Net cash provided by operating activities 6,753 5,113
Cash flows from investing activities:    
Acquisition of Atoll GmbH, net of cash received (8,767)  
Purchases of marketable securities (3,952) (8,119)
Redemptions of marketable securities 14,100 10,359
Proceeds from sale of fixed assets 45  
Purchases of property, plant and equipment (1,406) (1,737)
Net cash provided by investing activities 20 503
Cash flows from financing activities:    
Proceeds from issuance of convertible senior notes, net of costs 111,323  
Exercise of stock options 958 686
Payment of contingent considerations (498) (99)
Net cash provided by financing activities 111,783 587
Effect of exchange rate changes on cash and cash equivalents (26) (1,554)
Net increase in cash and cash equivalents 118,530 4,649
Cash and cash equivalents, beginning of period 54,092 35,363
Cash and cash equivalents, end of period 172,622 40,012
Supplemental disclosure of non-cash activities:    
Income taxes paid 1,981 $ 1,629
Payment of contingent consideration in common stock 875  
Stock tendered for acquisition of Atoll GmbH $ 14,135