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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities:    
Net income $ 14,785 $ 7,963
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 13,818 13,583
Deferred income taxes (184) (1,786)
Stock based compensation 3,789 2,023
Loss on disposition of property and equipment 69 16
Provisions for inventory 296 1,704
Other (842) (44)
Changes in assets and liabilities:    
Accounts receivable, net (14,856) (8,237)
Inventory (16,648) (1,137)
Other assets (29,226) (6,417)
Accounts payable 12,337 24,289
Other liabilities 6,340 (6,848)
Net cash (used in) provided by operating activities (10,322) 25,109
Investing Activities:    
Purchases of property and equipment (11,320) (6,294)
Proceeds from the sale of property and equipment 22 17
Proceeds from deferred purchase price of factored receivables 2,732 3,728
Cost of technology investments (265)  
Net cash used in investing activities (8,831) (2,549)
Financing Activities:    
Borrowings on debt 10,000  
Repayments of debt (10,324) (564)
Proceeds from the exercise of Common Stock options 812 263
Taxes withheld and paid on employees' share-based payment awards (2,022) (2,667)
Cash paid for the repurchase of Common Stock   (9,997)
Net cash used in financing activities (1,534) (12,965)
Foreign currency effect (3,879) 3,144
Net (decrease) increase in cash and cash equivalents (24,566) 12,739
Cash and cash equivalents at beginning of period 149,673 153,891
Cash and cash equivalents at end of period 125,107 166,630
Supplemental disclosure of cash flow information:    
Cash paid for taxes 4,900 5,536
Cash paid for interest 3,310 3,235
Non-Cash Investing Activities:    
Period-end balance of accounts payable for property and equipment 8,643 2,370
Deferred purchase price of receivables factored in the period $ 4,447 $ 4,739