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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES:    
Net income $ 8,668 $ 7,031
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 5,250 5,341
Amortization of deferred financing costs 2 2
Deferred income taxes 438 750
(Gain) loss on disposition of property, plant and equipment (52) 3
Stock-based compensation 651 547
Changes in operating assets and liabilities:    
Trade receivables, net (5,678) (978)
Inventories, net (1,255) (199)
Prepaid expenses and other current assets 992 (183)
Other assets 6 16
Accounts payable and accrued expenses (988) (719)
Other liabilities 25 11
Net cash provided by operating activities 8,059 11,622
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (5,517) (4,543)
Acquisition of a business (5,889)  
Proceeds from sale of property, plant and equipment 75 10
Net cash used in investing activities (11,331) (4,533)
FINANCING ACTIVITIES:    
Cash dividends paid (1,133) (905)
Purchase of treasury shares (86) (95)
Net cash used in financing activities (1,219) (1,000)
Net (decrease) increase in cash and cash equivalents (4,491) 6,089
Cash and cash equivalents at beginning of period 105,355 83,562
Cash and cash equivalents at end of period $ 100,864 $ 89,651