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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 27,523 $ 20,121 $ 23,802
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 53,582 43,755 37,425
Gain on bargain purchase (11,039) 0 0
Losses (gains) on sales and/or abandonment of property and equipment 427 530 (23)
Write-off of patents and intangible assets 988 101 141
Acquired in-process research and development 12,136 461 1,000
Amortization of deferred credits (147) (170) (171)
Amortization of long-term debt issuance costs 685 952 987
Deferred income taxes (1,304) (962) 3,450
Excess tax benefits from stock-based compensation 0 (669) (2,124)
Stock-based compensation expense 4,075 2,506 2,243
Changes in operating assets and liabilities, net of effects from acquisitions:      
Trade receivables (12,844) (6,816) (5,872)
Other receivables (3,557) 1,161 335
Inventories (17,834) (3,656) (13,113)
Prepaid expenses and other current assets (1,236) 271 (696)
Prepaid income taxes (611) 404 (1,788)
Income tax refund receivables (588) 406 (784)
Other assets (3,735) (3,763) (362)
Trade payables 417 (6,835) 14,766
Accrued expenses 6,461 3,242 5,873
Income taxes payable 21 1,451 2,199
Long-term income taxes payable 4,846 0 0
Liabilities related to unrecognized tax benefits (19) 597 536
Deferred compensation payable 1,970 712 (135)
Other long-term obligations 2,510 (200) 1,769
Total adjustments 35,204 33,478 45,656
Net cash provided by operating activities 62,727 53,599 69,458
Capital expenditures for:      
Property and equipment (38,623) (32,837) (50,959)
Intangible assets (2,577) (2,217) (1,956)
Proceeds from sale-leaseback transactions 0 0 2,017
Proceeds from sale of cost method investment 0 1,089 0
Proceeds from the sale of property and equipment 21 19 1,247
Cash paid in acquisitions, net of cash acquired (105,582) (125,161) (12,368)
Net cash used in investing activities (146,761) (159,107) (62,019)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of common stock 143,810 5,271 6,668
Offering costs (816) 0 0
Proceeds from issuance of long-term debt 197,214 219,505 152,375
Payments on long-term debt (243,214) (102,098) (169,272)
Excess tax benefits from stock-based compensation 0 669 2,124
Long-term debt issuance costs (416) (1,948) 0
Contingent payments related to acquisitions (61) (218) (1,212)
Payment of taxes related to an exchange of common stock 0 (86) (918)
Net cash provided by (used in) financing activities 96,517 121,095 (10,235)
EFFECT OF EXCHANGE RATES ON CASH 682 (593) (382)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 13,165 14,994 (3,178)
CASH AND CASH EQUIVALENTS:      
Beginning of year 19,171 4,177 7,355
End of year 32,336 19,171 4,177
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION      
Interest (net of capitalized interest of $513, $460 and $325, respectively) 7,707 8,872 6,273
Income taxes 6,049 2,318 3,409
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Property and equipment purchases in accounts payable 1,992 2,398 3,199
Cost method investment converted to intangible asset in acquisition in lieu of additional cash payment 0 0 1,010
Contingent receivable in exchange for sale of cost method investment 0 711 0
Receivable for issuance of common stock associated with option exercises 137 0 0
Acquisition purchases in accrued expenses and other long-term obligations 10,488 0 1,300
Merit common stock surrendered (0, 14 and 185 shares, respectively) in exchange for exercise of stock options $ 0 $ 346 $ 3,802