XML 43 R7.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 6,229 $ 4,462
Adjustments required to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 5,681 7,322
Stock-based compensation of options and RSUs 1,293 488
Accrued severance pay, net 382 47
Deferred income taxes, net 1,385 (29)
Decrease in trade receivables, net 2,506 15,089
(Increase) decrease in contract assets (232) 14,380
Increase in other assets and receivables (29) (9,147)
(Increase) decrease in inventories, net (6,137) 332
Increase (decrease) in trade payables 3,933 (11,634)
Decrease in accrued expenses (7,076) (1,980)
Decrease in advances from customers and deferred revenues (8,405) (4,980)
Decrease in advances from customers held by trustees (1,478)
Increase (decrease) in other liabilities (1,950) 5,562
Net cash (used in) provided by operating activities (2,420) 18,434
Cash flows from investing activities:    
Purchase of property and equipment (3,587) (5,014)
Net cash used in investing activities (3,587) (5,014)
Cash flows from financing activities:    
Proceeds from exercise of stock option and restricted stock units 375 573
Dividend payment (24,864)
Repayment of long-term loans (4,231) (4,249)
Net cash used in financing activities (28,720) (3,676)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 21 (709)
Increase (decrease) in cash, cash equivalents and restricted cash (34,706) 9,035
Cash, cash equivalents and restricted cash at the beginning of the period 104,204 86,757
Cash, cash equivalents and restricted cash at the end of the period 69,498 95,792
Cash paid during the period for:    
Interest 320 398
Income taxes 640 2,495
Non-cash transactions:    
Purchases of property and equipment that were not paid for and reclassification from inventories to property and equipment $ 2,349 $ 1,768