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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES:    
Net income $ 21,063 $ 15,454
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 12,646 13,011
Amortization of deferred financing costs 7 23
Deferred income taxes 3,999 1,119
Loss on disposition of property, plant and equipment 628 466
Stock-based compensation 1,104 1,144
Changes in operating assets and liabilities:    
Trade receivables, net (3,578) (1,900)
Inventories, net (391) 358
Prepaid expenses and other current assets 32 670
Other assets 85 118
Accounts payable and accrued expenses 681 1,566
Other liabilities (96) (191)
Net cash provided by operating activities 36,180 31,838
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (20,423) (31,687)
Proceeds from sale of property, plant and equipment 195 460
Net cash used in investing activities (20,228) (31,227)
FINANCING ACTIVITIES:    
Cash dividends paid (2,273) (2,267)
Proceeds from exercise of stock options 75 73
Purchase of treasury shares (241) (251)
Net cash used in financing activities (2,439) (2,445)
Net increase (decrease) in cash and cash equivalents 13,513 (1,834)
Cash and cash equivalents at beginning of period 67,218 85,000
Cash and cash equivalents at end of period $ 80,731 $ 83,166