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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES:      
Net Income $ 20,346 $ 16,255 $ 29,830
Adjustments to reconcile net income to net cash flows from operating activities:      
Depreciation and amortization 11,762 11,036 9,598
(Gain) Loss on disposal of property, plant and equipment (53) (38) 17
Provision for credit losses 174 (137) 195
Issuance of non-employee director shares 200 200 194
Stock-based compensation on nonvested restricted stock units 743    
Deferred tax provision 1,061 1,012 752
Changes in operating assets and liabilities:      
Accounts receivable (24,345) (12,723) 27,375
Inventories (40,748) (32,071) 5,466
Prepaid expenses 1,130 (2,603) 1,652
Other assets 24 116 321
Accounts payable 4,485 33,939 (10,881)
Accrued liabilities 5,137 400 (5,194)
Income taxes payable 929 (118) 1,384
Net cash flows from operating activities (19,155) 15,268 60,709
INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (28,939) (9,150) (17,500)
Proceeds from sale of property, plant and equipment 8 91 276
Net cash flows from investing activities (28,931) (9,059) (17,224)
FINANCING ACTIVITIES:      
Net borrowings under credit facility 45,000   (4,998)
Payments of cash dividends (8,220) (8,216) (8,212)
Net payments on other long-term obligations     (400)
Finance lease obligation payments (15) (22) (21)
Net cash flows from financing activities 36,765 (8,238) (13,631)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND TEMPORARY INVESTMENTS (2,858) (1,160) 1,595
NET CHANGE IN CASH AND TEMPORARY INVESTMENTS (14,179) (3,189) 31,449
CASH AND TEMPORARY INVESTMENTS, beginning of period 54,332 57,521 26,072
CASH AND TEMPORARY INVESTMENTS, end of period 40,153 54,332 57,521
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash payments for interest 3,332 1,570 2,052
Cash payments for income taxes, net of refunds $ 1,806 $ 5,890 $ 6,721