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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES:    
Net income $ 18,906 $ 18,124
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 10,796 10,575
Amortization of deferred financing costs 2 2
Deferred income taxes 1,220 1,779
Gain on disposition of property, plant and equipment (26) (78)
Stock-based compensation 1,291 1,118
Changes in operating assets and liabilities:    
Trade receivables, net (9,969) (4,483)
Inventories, net (1,434) 587
Prepaid expenses and other current assets 1,047 445
Other assets 7 (132)
Accounts payable and accrued expenses 443 (618)
Other liabilities 70 53
Net cash provided by operating activities 22,353 27,372
INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (11,485) (17,776)
Acquisition of a business, net of cash acquired (5,630)  
Proceeds from sale of property, plant and equipment 221 10
Net cash used in investing activities (16,894) (17,766)
FINANCING ACTIVITIES:    
Cash dividends paid (2,267) (1,809)
Proceeds from exercise of stock options 120 83
Purchase of treasury shares (86) (95)
Net cash used in financing activities (2,233) (1,821)
Net increase in cash and cash equivalents 3,226 7,785
Cash and cash equivalents at beginning of period 105,355 83,562
Cash and cash equivalents at end of period $ 108,581 $ 91,347