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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income from consolidated operations $ 19,750 $ 14,311 $ 9,210
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 8,172 7,831 5,635
(Gain) loss on sales of property, plant and equipment (47) 7
Share-based compensation 1,591 1,212 1,068
Deferred income taxes 792 1,881 (1,019)
Changes in operating assets and liabilities:      
Receivables, net (327) (2,556) (132)
Inventories 1,300 (2,295) 1,288
Prepaid expenses (98) (249) 446
Refundable income taxes 2,006 (1,268) (210)
Other assets 110 (76) (228)
Accounts payable (2,472) 1,113 93
Accrued expenses 25 1,472 974
Deferred revenue 67 35 91
Non-qualified deferred compensation plan and other liabilities 313 (44) 246
Net cash provided by operating activities 31,229 21,320 17,469
Cash flows from investing activities:      
Additions to property, plant and equipment (5,778) (5,428) (10,382)
Acquisition of Dieletrics, net of cash acquired (76,978)
Proceeds from sale of property, plant and equipment 4 77 7
Net cash used in investing activities (5,774) (82,329) (10,375)
Cash flows from financing activities:      
Proceeds from advances on revolving line of credit 36,000
Payments on revolving line of credit (8,000) (28,000)
Proceeds from the issuance of long-term debt 20,000
Principal repayment of long-term debt (17,143) (2,857) (856)
Proceeds from the exercise of stock options, net of shares presented for exercise 705 1,270 677
Payment of statutory withholding for stock options exercised and restricted stock units vested (512) (144) (296)
Net cash (used in) provided by financing activities (24,950) 26,269 (475)
Net change in cash and cash equivalents 505 (34,740) 6,619
Cash and cash equivalents at beginning of year 3,238 37,978 31,359
Cash and cash equivalents at end of year $ 3,743 $ 3,238 $ 37,978