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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES:      
Net income $ 74,549 $ 45,429 $ 37,045
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 23,827 22,199 20,898
Amortization of deferred financing costs 17 2 6
Deferred income taxes (923) 2,527 1,524
Loss (gain) on disposition of property, plant and equipment 363 (312) 10
Stock-based compensation 3,182 2,636 2,236
Changes in operating assets and liabilities:      
Trade receivables, net (4,460) (6,438) (3,736)
Inventories (4,734) (4,294) 94
Prepaid expenses and other current assets (1,140) (191) (999)
Other assets (142) 8 (41)
Accounts payable and accrued expenses 1,666 2,701 (1,101)
Other liabilities 54 96 (247)
Net cash provided by operating activities 92,259 64,363 55,689
INVESTING ACTIVITIES:      
Purchase of property, plant and equipment (34,250) (26,815) (29,914)
Acquisition of a business, net of cash acquired   (5,630)  
Proceeds from sale of property, plant and equipment 2,286 1,294 285
Net cash used in investing activities (31,964) (31,151) (29,629)
FINANCING ACTIVITIES:      
Cash dividends paid (4,554) (4,536) (3,620)
Proceeds from exercise of stock options 113 120 84
Purchase of treasury shares (1,274) (767) (731)
Net cash used in financing activities (5,715) (5,183) (4,267)
Net increase in cash and cash equivalents 54,580 28,029 21,793
Cash and cash equivalents at beginning of period 133,384 105,355 83,562
Cash and cash equivalents at end of period $ 187,964 $ 133,384 $ 105,355