XML 15 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,591,000 $ 1,441,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 569,000 634,000
Non-cash operating lease expense 136,000 152,000
Provision for doubtful accounts 30,000 30,000
Deferred taxes 18,000 122,000
Foreign currency transaction (gains) losses (33,000) 6,000
Share-based compensation 353,000 334,000
Unrealized loss (gain) on available-for-sale equity security 2,000 (17,000)
Changes in operating assets and liabilities:    
Accounts receivable (2,480,000) (1,124,000)
Inventories (2,624,000) (721,000)
Prepaid expenses and other assets (363,000) (73,000)
Accounts payable 2,082,000 2,703,000
Advance customer payments and other 486,000 (120,000)
Accrued expenses (798,000) (738,000)
Operating leases (203,000) (211,000)
Net cash provided by operating activities 766,000 2,418,000
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from maturities of available-for-sale marketable securities 3,184,000 2,597,000
Purchases of available-for-sale marketable securities (7,077,000) (2,767,000)
Additions to equipment and leasehold improvements (491,000) (650,000)
Additions to patents (29,000) (34,000)
Net cash used in investing activities (4,413,000) (854,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 183,000 57,000
Tax payments for shares withheld related to stock option exercises (1,000) 0
Net cash provided by financing activities 182,000 57,000
Effects of exchange rate changes on cash and cash equivalents 7,000 11,000
Net (decrease) increase in cash and cash equivalents (3,458,000) 1,632,000
Cash and cash equivalents – beginning of period 13,684,000 8,399,000
Cash and cash equivalents – end of period $ 10,226,000 $ 10,031,000