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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES:    
Net income $ 11,054 $ 13,540
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 8,628 8,124
(Gain) Loss on disposal of property, plant and equipment (52) 7
Provision for credit losses 126 118
Issuance of non-employee director shares 200 200
Stock-based compensation on nonvested restricted stock units 520  
Deferred tax provision 19 9
Changes in operating assets and liabilities:    
Accounts receivable (15,147) 10,312
Inventories (32,625) (24,990)
Prepaid expenses (359) (3,209)
Other assets 51 190
Accounts payable (10,190) 2,204
Accrued liabilities 6,173 531
Net cash flows from operating activities (31,602) 7,036
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (25,127) (7,857)
Proceeds from sale of property, plant and equipment 8 6
Net cash flows from investing activities (25,119) (7,851)
FINANCING ACTIVITIES:    
Net borrowings under credit facility 45,000  
Payments of cash dividends (6,165) (6,162)
Finance lease obligation payments (15) (16)
Net cash flows from financing activities 38,820 (6,178)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND TEMPORARY INVESTMENTS (3,223) (121)
NET CHANGE IN CASH AND TEMPORARY INVESTMENTS (21,124) (7,114)
CASH AND TEMPORARY INVESTMENTS, beginning of period 54,332 57,521
CASH AND TEMPORARY INVESTMENTS, end of period 33,208 50,407
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash payments for interest 1,902 1,104
Cash payments for income taxes, net of refunds $ 1,277 $ 5,153