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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended 36 Months Ended
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2019
Operating Activities                
Net income $ 19,881 $ 20,750 $ 15,653 $ 12,222 $ 77,916 $ 55,789 $ 27,721  
Adjustments to reconcile net income to cash provided by operating activities                
Depreciation and amortization         4,624 4,435 4,209  
Share-based compensation         4,520 3,124 4,267  
Loss on sale of disposal of property, plant and equipment         17 48 94  
Amortization of premium on investment securities         454 571 703  
Deferred income taxes         1,598 (2,687) (623)  
Bad debt expense         3,638 1,058 151  
Change in operating assets and liabilities:                
Accounts receivable         (4,064) (936) 664  
Inventory         (9,883) (18,658) (1,017)  
Income taxes, prepaid         (5,169) 2,272 (1,023)  
Prepaid expenses and other current assets         (1,510) (282) (686)  
Other assets         9 65 (1,876)  
Accounts payable and accrued expenses         12,111 16,017 10,653  
Net cash flow provided by operating activities         84,261 60,816 43,237  
Investing Activities                
Sale and maturities of investment securities         3,730 3,545 6,954  
Purchase of investment securities             (6,956)  
Sale of property and equipment           196 81  
Purchase of property and equipment         (10,058) (4,940) (3,242)  
Net cash flow used in investing activities         (6,328) (1,199) (3,163)  
Financing Activities                
Options exercised by executives and directors         278 547 568  
Net shares repurchased for employee taxes         (14,092) (720) (2,540)  
Cash dividends paid to stockholders         (35,396) (23,160) (15,390)  
Stock repurchases         (33,114) (29,995)    
Net cash flow used in financing activities         (82,324) (53,328) (17,362)  
Foreign currency impact         1 (2) (71)  
Increase (Decrease) in cash and cash equivalents         (4,390) 6,287 22,641  
Cash and cash equivalents - beginning of the period   $ 81,364   $ 75,077 81,364 75,077 52,436 $ 52,436
Cash and cash equivalents - end of period $ 76,974   $ 81,364   76,974 81,364 75,077 $ 76,974
Supplemental disclosure of cash flow information:                
Income taxes paid         17,314 14,606 13,622  
Dividends declared included in accounts payable         $ 13,719 $ 9,137 $ 6,105