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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,335,443 $ 5,667,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,333,000 1,890,000
Provision for bad debts - accounts receivable 180,000 211,000
Share-based compensation expense 983,000 964,000
Deferred income tax provision (benefit) (69,000) (881,000)
Loss on sales of property, plant and equipment 12,000
Accretion of acquisition-related contingent liability 81,000 65,000
Changes in assets and liabilities, net of acquisition of business:    
Accounts receivable - trade (2,181,000) (2,079,000)
Accounts receivable - other 1,125,000 892,000
Inventories 653,000 (2,493,000)
Prepaid expenses and other current assets (1,648,000) (1,419,000)
Other assets (353,000) (41,000)
Accounts payable 2,238,000 4,386,000
Other current liabilities (1,350,000) (2,233,000)
Long-term pension liability 259,000 567,000
Other long-term liabilities 40,000 40,000
Net cash provided by operating activities 7,626,000 5,548,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (5,527,000) (2,099,000)
Acquisition of business, net of acquired cash (15,252,000)
Net cash used in investing activities (20,779,000) (2,099,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from long-term debt 90,514,000 25,040,000
Repayment of long-term debt (71,138,000) (26,638,000)
Payment of cash dividends (2,270,000) (2,006,000)
Payment of contingent liability (1,800,000)
Proceeds received on exercise of stock options 781,000 1,383,000
Excess tax benefit from exercise of stock options and SARS 683,000 588,000
Net cash provided by (used in) financing activities 16,770,000 (1,633,000)
Effect of currency exchange rates on cash 82,000
Net increase in cash and cash equivalents 3,699,000 1,816,000
Cash and cash equivalents balance, beginning of year 1,036,000 4,586,000
Cash and cash equivalents balance, end of period $ 4,735,000 $ 6,402,000