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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 23,251 $ 28,485
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,719 5,972
Provision for bad debts - accounts receivable 1,715 6,099
Share-based compensation expense 2,757 1,790
Deferred income tax benefit (1,127) (3,654)
Change in fair value of acquisition-related contingent liabilities 2,310 2,759
Pension plan termination charge 6,945 0
Changes in assets and liabilities, net of acquisition of business:    
Accounts receivable 7,544 (12,225)
Accounts receivable - other (732) (1,121)
Contract assets 1,656 3,049
Inventories (13,667) (7,306)
Prepaid expenses and other current assets (4,445) (3,592)
Other assets (1,462) 1
Accounts payable and other current liabilities (12,287) 29,167
Payment of acquisition-related contingent liabilities (4,220) 0
Long-term pension liability 860 864
Other long-term liabilities 2,344 779
Net cash provided by operating activities 18,161 51,067
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (14,455) (5,711)
Acquisition of business (6,026) 0
Net cash used in investing activities (20,481) (5,711)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 173,436 137,559
Repayment of debt (165,023) (180,112)
Payment of cash dividends (5,334) (4,574)
Payment of acquisition-related contingent liability (1,641) (1,966)
Proceeds received on exercise of stock options 2,452 1,407
Tax withholdings on exercise of performance based stock (405) (32)
Tax (provision) benefit from vesting of acquisition-related restricted stock 171 (13)
Common stock reacquired and retired 0 (500)
Net cash provided by (used in) financing activities 3,656 (48,231)
Effect of currency exchange rates on cash (100) (512)
Net increase (decrease) in cash and cash equivalents 1,236 (3,387)
Cash and cash equivalents balance, beginning of period 5,172 9,038
Cash and cash equivalents balance, end of period $ 6,408 $ 5,651