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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 $ (1,957) $ (3,003) $ 4,813
Adjustments required to reconcile net income to net cash provided by operating activities:      
Depreciation 1,593 1,781 1,704
Equity-based compensation expenses related to employees’ stock options, SARs and RSUs 6,804 5,861 5,088
Capital loss from sale and disposal of property and equipment 19 10
Realized losses from sale of marketable securities, net 41 50 17
Amortization of intangible assets 1,700 1,700 1,457
Accrued interest and amortization of premium on marketable securities and short-term deposits 601 372 610
Change in operating assets and liabilities:      
Deferred income tax assets and liabilities, net (2,814) (459) 320
Trade receivables, net (107) 5,728 168
Other accounts receivable and prepaid expenses (76) (1,142) 953
Inventories (431) 363 1,702
Long-term prepaid expenses and lease deposits (159) (212) (166)
Trade payables 927 (3,893) (575)
Accrued compensation and benefits 1,598 1,878 2,566
Income tax accruals 180 39 (724)
Accrued expenses and other accounts payable 767 (704) (1,379)
Accrued severance pay, net (8) 117 (91)
Accrued pensions 32 18 42
Net cash provided by operating activities 8,691 8,513 16,515
Cash flows from investing activities:      
Purchase of marketable securities (27,564) (38,924) (47,934)
Purchase of short-term deposits (8,668) (10,884) (7,601)
Proceeds from maturity of marketable securities 20,501 21,499 35,090
Proceeds from sales of marketable securities 5,113 19,226 14,277
Proceeds from redemption of short-term deposits 5,668 8,309 5,601
Purchases of property and equipment (1,181) (838) (2,103)
Other investing activities (104)
Acquisition of initially consolidated subsidiary (1) (494)
Proceeds from sale of fixed assets 9
Net cash used in investing activities (6,235) (1,612) (3,155)
Cash flows from financing activities:      
Issuance of common stock and treasury stock upon exercise of stock options 738 1,509 1,457
Repayment of short-term loan (168)
Purchase of treasury stock (12,343) (4,465) (10,727)
Net cash used in financing activities (11,605) (2,956) (9,438)
Increase (decrease) in cash and cash equivalents and restricted cash (9,149) 3,945 3,922
Cash and cash equivalents and restricted cash at the beginning of the year 21,848 17,822 13,872
Cash (erosion) due to exchange rate differences (60) 81 28
Cash and cash equivalents and restricted cash at the end of the year 12,639 21,848 17,822
Taxes on income $ 902 $ 219 $ 1,018