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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES:    
Net income $ 7,031 $ 5,544
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 5,341 4,655
Amortization of deferred financing costs 2 2
Deferred income taxes 750 990
Loss (gain) on disposition of property, plant and equipment 3 (13)
Stock-based compensation 547 379
Changes in operating assets and liabilities:    
Trade receivables, net (978) (200)
Inventories, net (199) (146)
Prepaid expenses and other current assets (183) 249
Other assets 16 14
Accounts payable and accrued expenses (719) 21
Other liabilities 11 13
Net cash provided by operating activities 11,622 11,508
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (4,543) (6,106)
Proceeds from sale of property, plant and equipment 10 16
Net cash used in investing activities (4,533) (6,090)
FINANCING ACTIVITIES:    
Cash dividends paid (905) (899)
Proceeds from exercise of stock options   81
Purchase of treasury shares (95) (64)
Net cash used in financing activities (1,000) (882)
Net increase in cash and cash equivalents 6,089 4,536
Cash and cash equivalents at beginning of period 83,562 54,260
Cash and cash equivalents at end of period $ 89,651 $ 58,796