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Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
OPERATING ACTIVITIES    
Net income $ 1,824 $ 5,528
Adjustments to reconcile net income to net cash provided by (used in) operations:    
Depreciation and amortization 3,140 3,265
Provision for accounts receivable allowances 440 201
Provision for inventory reserves 87 869
Deferred income taxes 96 (154)
Share-based compensation expense 928 731
Gain on sale of property and equipment (33) (31)
Other - net (137) 183
Changes in operating assets and liabilities    
Accounts receivable 391 (2,635)
Inventories (2,376) (4,818)
Trade accounts payable and accrued liabilities 1,481 (3,112)
Income taxes - net (775) 1,733
Other - net (4,565) (2,787)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 501 (1,027)
INVESTING ACTIVITIES    
Capital expenditures (2,396) (2,699)
Purchase of marketable securities (496) (4,308)
Acquisition, net of cash acquired (10,173) 0
NET CASH USED IN INVESTING ACTIVITIES (13,065) (7,007)
FINANCING ACTIVITIES    
Increase (decrease) in notes payable to banks (1,307) 936
Proceeds from long-term debt 33,132 20,303
Payments of long-term debt (17,354) (11,112)
Dividends paid (1,043) (1,008)
Purchase of common shares for treasury (239) (110)
Purchase of common shares for treasury from related parties (2,055) (723)
NET CASH PROVIDED BY FINANCING ACTIVITIES 11,134 8,286
Effects of exchange rate changes on cash and cash equivalents 1,292 939
Net (decrease) increase in cash, cash equivalents and restricted cash (138) 1,191
Cash, cash equivalents and restricted cash at beginning of year 43,910 45,579
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD [1] $ 43,772 $ 46,770
[1] Includes restricted cash of $.3 million at March 31, 2019 and $.3 million at December 31, 2018. For further information regarding restricted cash, refer to Note P, “Debt Arrangements.”