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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
OPERATING ACTIVITIES:    
Net income $ 18,124 $ 11,645
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 10,575 9,453
Amortization of deferred financing costs 2 2
Deferred income taxes 1,779 2,484
(Gain) loss on disposition of property, plant and equipment (78) 239
Stock-based compensation 1,118 842
Changes in operating assets and liabilities:    
Trade receivables, net (4,483) 1,756
Inventories, net 587 (1,034)
Prepaid expenses and other current assets 445 896
Other assets (132) 40
Accounts payable and accrued expenses (618) 779
Other liabilities 53 27
Net cash provided by operating activities 27,372 27,129
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (17,776) (10,599)
Proceeds from sale of property, plant and equipment 10 46
Net cash used in investing activities (17,766) (10,553)
FINANCING ACTIVITIES:    
Cash dividends paid (1,809) (1,800)
Proceeds from exercise of stock options 83 81
Purchase of treasury shares (95) (282)
Net cash used in financing activities (1,821) (2,001)
Net increase in cash and cash equivalents 7,785 14,575
Cash and cash equivalents at beginning of period 83,562 54,260
Cash and cash equivalents at end of period $ 91,347 $ 68,835