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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES:    
Net income $ 17,810 $ 27,419
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 6,915 6,612
(Gain) loss on disposal of property, plant and equipment 4 (8)
Provision for doubtful accounts 148 (33)
Issuance of non-employee director shares 194 150
Deferred tax provision 399 59
Changes in operating assets and liabilities:    
Accounts receivable 19,188 (16,841)
Inventories 1,836 (5,063)
Prepaid expenses 484 (1,483)
Other assets 352 781
Accounts payable (3,355) 17,186
Accrued liabilities 154 (755)
Net cash flows from operating activities 44,129 28,024
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (12,691) (15,434)
Proceeds from sale of property, plant and equipment 43 31
Net cash flows from investing activities (12,648) (15,403)
FINANCING ACTIVITIES:    
Net proceeds (payments) under credit facility (4,998) (5,000)
Payments of cash dividends (6,159) (6,156)
Net payments on other long-term obligations (297) (275)
Finance lease obligation payments (16) (15)
Net cash flows from financing activities (11,470) (11,446)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND TEMPORARY INVESTMENTS 1,429 (753)
NET CHANGE IN CASH AND TEMPORARY INVESTMENTS 21,440 422
CASH AND TEMPORARY INVESTMENTS, beginning of period 26,072 27,037
CASH AND TEMPORARY INVESTMENTS, end of period 47,512 27,459
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash payments for interest 1,659 2,500
Cash payments for income taxes, net of refunds $ 3,925 $ 9,050