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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
OPERATING ACTIVITIES:    
Net income $ 29,432 $ 20,969
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 15,632 14,391
Amortization of deferred financing costs 6 5
Deferred income taxes 2,049 4,369
Loss on sale of property, plant and equipment 41 144
Stock-based compensation 1,678 1,344
Changes in operating assets and liabilities:    
Trade receivables, net (6,263) (758)
Inventories, net 450 (1,242)
Prepaid expenses and other current assets 844 289
Other assets (86) 165
Accounts payable and accrued expenses 266 2,296
Other liabilities 78 (65)
Net cash provided by operating activities 44,127 41,907
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (23,731) (13,621)
Acquisition of a business   (8,392)
Proceeds from sale of property, plant and equipment 171 58
Net cash used in investing activities (23,560) (21,955)
FINANCING ACTIVITIES:    
Cash dividends paid (2,715) (2,701)
Proceeds from exercise of stock options 83 81
Purchase of treasury shares (95) (282)
Net cash used in financing activities (2,727) (2,902)
Net increase in cash and cash equivalents 17,840 17,050
Cash and cash equivalents at beginning of period 83,562 54,260
Cash and cash equivalents at end of period $ 101,402 $ 71,310