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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income (loss) $ 18,409 $ 6,801 $ (5,340)
Adjustments required to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 13,149 13,140 13,108
Capital loss (gain) from disposal of property and equipment 275 245 (88)
Stock-based compensation of options and RSUs 1,006 856 908
Accrued severance pay, net 57 118 (267)
Exchange rate differences on long-term loans (34) 186 (43)
Deferred income taxes, net (3,672) 189 4
Decrease (increase) in trade receivables, net 2,061 (2,512) 4,127
Decrease (increase) in contract assets 11,029 (17,076) (41,713)
Increase in other assets and receivables (4,917) (9,147) (2,966)
Decrease (increase) in inventories 5,743 (10,763) 2,221
Increase (decrease) in trade payables (8,926) 4,087 12,454
Increase (decrease) in accrued expenses (7,206) 19,633 30,149
Increase (decrease) in advances from customers and deferred revenues 12,433 (20,858) (50,008)
Decrease in advances from customers held by trustees (1,478) (6,185) (18)
Increase (decrease) in other liabilities (5,912) 4,063 593
Net cash provided by (used in) operating activities 32,017 (17,223) (36,879)
Cash flows from investing activities:      
Purchase of property and equipment (10,759) (3,692) (4,307)
Net cash used in investing activities (10,759) (3,692) (4,307)
Cash flows from financing activities:      
Capital lease payments (309)
Issuance of shares in a rights offering, net of issuance costs 35,085
Proceeds from exercise of stock option and restricted stock units 2,149 661 588
Short-term bank credit and loans, net (7,000)
Repayment of long-term loans (4,470) (4,673) (4,443)
Net cash provided by (used in) financing activities (2,321) (4,012) 23,921
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,490) 51 981
Increase (decrease) in cash, cash equivalents and restricted cash 17,447 (24,876) (16,284)
Cash, cash equivalents and restricted cash at the beginning of the year 86,757 111,633 127,917
Cash, cash equivalents and restricted cash at the end of the year 104,204 86,757 111,633
Cash paid during the year for:      
Interest 303 906 1,448
Income taxes 3,900 2,410 2,105
Non-cash transactions:      
Purchases of property and equipment that were not paid for and reclassification from inventories to property and equipment 2,307 5,710 2,452
Reclassification from property and equipment to inventories $ 343 $ 129 $ 733