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Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Activities    
Net income $ 15,253 $ 14,583
Adjustment to reconcile net income to net cash used in operating activities:    
Provision for doubtful accounts (24) (94)
Depreciation - Property, plant and equipment 3,338 3,135
Depreciation - Rental equipment 2,088 1,405
Amortization of intangibles 855 881
Amortization of debt issuance costs 55 55
Stock-based compensation expense 627 458
Provision for deferred income tax expense 1,865 930
Gain on sale of property, plant and equipment (180) (17)
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (34,936) (27,998)
Inventories (17,098) (12,291)
Rental equipment (7,453) (5,663)
Prepaid expenses and other assets (1,472) (1,765)
Trade accounts payable and accrued liabilities 1,563 (1,483)
Income taxes payable 2,925 (386)
Long-term tax payable 258 0
Other assets and long-term liabilities (25) 104
Net cash used in operating activities (32,361) (28,146)
Investing Activities    
Acquisitions, net of cash acquired (50,477) 0
Purchase of property, plant and equipment (5,284) (7,645)
Proceeds from sale of property, plant and equipment 472 97
Net cash used in investing activities (55,289) (7,548)
Financing Activities    
Borrowings on bank revolving credit facility 103,000 90,000
Repayments on bank revolving credit facility (8,000) (3,000)
Principal payments on finance leases 37 0
Dividends paid (1,404) (1,276)
Proceeds from exercise of stock options 237 266
Cost of common stock repurchased (1,490) 0
Net cash provided by financing activities 92,306 85,990
Effect of exchange rate changes on cash and cash equivalents 324 181
Net change in cash and cash equivalents 4,980 50,477
Cash and cash equivalents at beginning of the year 34,043 25,373
Cash and cash equivalents at end of the period 39,023 75,850
Cash paid during the period for:    
Interest 1,061 1,123
Income taxes $ 2,814 $ 5,066