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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 17,023 $ 9,220
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 3,506 3,148
(Gain) Loss on disposal of property, plant and equipment (7)  
Provision for credit losses 52 45
Issuance of common stock, net of shares withheld for employee taxes (214) 61
Stock-based compensation 383 223
Deferred tax provision 37 (66)
Changes in operating assets and liabilities:    
Accounts receivable (52,972) (55,235)
Inventories 5,003 (10,320)
Prepaid expenses (4,230) (2,193)
Other assets 116 88
Accounts payable 37,588 44,003
Accrued liabilities 2,738 1,895
Income taxes payable (46) 2,367
Net cash flows provided by (used in) operating activities 8,977 (6,764)
Cash flows from investing activities:    
Purchases of property, plant and equipment (4,672) (1,749)
Proceeds from sale of property, plant and equipment 9  
Net cash flows provided by (used in) investing activities (4,663) (1,749)
Cash flows from financing activities:    
Payments on credit facility (5,000)  
Payments of cash dividends (2,179) (2,059)
Finance lease obligation payments 0 0
Net cash flows provided by (used in) financing activities (7,179) (2,059)
Effect of exchange rate changes on cash and temporary investments (235) 139
Net change in cash and temporary investments (3,100) (10,433)
Cash and temporary investments, beginning of period 29,909 40,153
Cash and temporary investments, end of period 26,809 29,720
Supplemental information:    
Cash payments for interest 1,003 1,493
Cash payments for income taxes, net of refunds $ 277 $ 495