XML 20 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
OPERATING ACTIVITIES:    
Net income $ 9,947 $ 8,930
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 2,198 2,031
Provision for doubtful accounts 86 101
Excess tax benefit from stock-based compensation   (101)
Issuance of non-employee director shares 96 96
Deferred income tax provision 42 (18)
Gain/Loss on Disposal of Equipment 3  
Changes in operating assets and liabilities:    
Accounts receivable (28,757) (15,901)
Inventories (2,796) (2,067)
Prepaid expenses (2,097) (1,628)
Other assets (38) (299)
Accounts payable 5,864 11,939
Accrued liabilities 3,552 1,348
Net cash flows from (used in) operating activities (11,900) 4,431
INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (13,200) (3,072)
Proceeds from sale of plant, property & equipment 5  
Net (payments on) proceeds from notes receivable (650) 1
Net cash flows from (used in) investing activities (13,845) (3,071)
FINANCING ACTIVITIES:    
Net borrowings under credit facility 20,000  
Payments of cash dividends (3,858) (3,624)
Proceeds from stock option exercises   181
Excess tax benefit from stock-based compensation   101
Net cash flows from (used in) financing activities 16,142 (3,342)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND TEMPORARY INVESTMENTS 706 (1,644)
NET CHANGE IN CASH AND TEMPORARY INVESTMENTS (8,897) (3,626)
CASH AND TEMPORARY INVESTMENTS, beginning of period 38,449 39,597
CASH AND TEMPORARY INVESTMENTS, end of period 29,552 35,971
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash payments for interest 820 661
Cash payments for income taxes, net of refunds $ 3,443 $ 3,352