XML 18 R5.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows related to operating activities:    
Net Income $ 2,863,000 $ 812,000
Adjustments to reconcile net income to net cash generated by operating activities:    
Depreciation and amortization 718,000 563,000
Stock based compensation 172,000 153,000
Decrease in allowance doubtful accounts (181,000) (26,000)
Increase/(Decrease) in inventory reserve 132,000 (4,000)
Decrease in warranty reserve (133,000) (8,000)
Change in assets and liabilities:    
Accounts receivable 3,106,000 (357,000)
Inventories (5,076,000) (1,780,000)
Prepaid income taxes 583,000 104,000
Other current assets (120,000) (41,000)
Other non-current assets   6,000
Accounts payable (715,000) 1,195,000
Accrued employee compensation and benefit costs 3,000 (20,000)
Other accrued liabilities 124,000 41,000
Net cash generated by operating activities 1,476,000 638,000
Cash flows related to investing activities:    
Capital expenditures - property, plant and equipment (593,000) (1,140,000)
Note Receivable   (125,000)
Net cash used by investing activities (593,000) (1,265,000)
Cash flows related to financing activities:    
Principal payments on long-term debt (274,000) (274,000)
Principal payments on equipment financing lease/note obligations (148,000) (87,000)
Proceeds from equipment note and equipment financing lease   388,000
Proceeds from line of credit 750,000  
Proceeds from paycheck protection program 4,000,000  
Purchase of treasury shares (100,000) (149,000)
Net cash generated/(used) by financing activities 4,228,000 (122,000)
Net increase/(decrease) in cash 5,111,000 (749,000)
Cash at beginning of period 2,029,000 2,598,000
Cash at end of period $ 7,140,000 1,849,000
Supplemental Cash Flow Information:    
Equipment acquired through financing paid directly to vendor   $ 213,000