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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES:      
Net income $ 39,111 $ 33,746 $ 23,016
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 9,127 7,745 6,147
(Gain) Loss on disposal of property, plant and equipment (21) 156 (608)
Provision for doubtful accounts 15 214 86
Issuance of non-employee director shares 150 150 150
Deferred tax provision 1,708 568 (868)
Changes in operating assets and liabilities:      
Accounts receivable (19,605) (19,353) (6,668)
Inventories 5,453 (23,865) (2,844)
Prepaid expenses (1,529) 989 765
Other assets 609 60 8
Accounts payable (2,165) 19,425 (5,806)
Accrued liabilities 2,279 2,062 575
Net cash flows from operating activities 35,132 21,897 13,953
INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (17,391) (13,342) (24,693)
Proceeds from sale of property, plant and equipment 328 141 1,303
Net cash flows from investing activities (17,063) (13,201) (23,390)
FINANCING ACTIVITIES:      
Net proceeds (payments) under credit facility (10,002) 5,000 5,000
Payments of cash dividends (8,208) (8,200) (8,188)
Net proceeds (payments) on other long-term obligations (367) 56 146
Finance lease obligation payments (20)
Proceeds from exercise of stock options 179 606
Net cash flows from financing activities (18,597) (2,965) (2,436)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND TEMPORARY INVESTMENTS (437) (589) 2,653
NET CHANGE IN CASH AND TEMPORARY INVESTMENTS (965) 5,142 (9,220)
CASH AND TEMPORARY INVESTMENTS, beginning of period 27,037 21,895 31,115
CASH AND TEMPORARY INVESTMENTS, end of period 26,072 27,037 21,895
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash payments for interest 3,249 2,437 1,877
Cash payments for income taxes, net of refunds $ 10,067 $ 7,457 $ 11,605