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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
OPERATING ACTIVITIES:    
Net income $ 5,822 $ 9,694
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 5,623 5,334
(Gain) Loss on disposal of property, plant and equipment (36) (1)
Provision for credit losses 81 71
Issuance of non-employee director shares 200 200
Stock-based compensation on nonvested restricted stock units 297  
Deferred tax provision 56 113
Changes in operating assets and liabilities:    
Accounts receivable (37,708) (19,784)
Inventories (27,482) (7,314)
Prepaid expenses (1,716) (4,270)
Other assets 34 104
Accounts payable 19,194 22,115
Accrued liabilities 808 (1,043)
Net cash flows from operating activities (34,827) 5,219
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (22,840) (5,418)
Proceeds from sale of property, plant and equipment 8 4
Net cash flows from investing activities (22,832) (5,414)
FINANCING ACTIVITIES:    
Net borrowings under credit facility 40,000  
Payments of cash dividends (4,109) (4,108)
Finance lease obligation payments (11) (11)
Net cash flows from financing activities 35,880 (4,119)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND TEMPORARY INVESTMENTS (1,424) 727
NET CHANGE IN CASH AND TEMPORARY INVESTMENTS (23,203) (3,587)
CASH AND TEMPORARY INVESTMENTS, beginning of period 54,332 57,521
CASH AND TEMPORARY INVESTMENTS, end of period 31,129 53,934
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash payments for interest 1,022 663
Cash payments for income taxes, net of refunds $ 1,496 $ 3,585