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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income used in the computation of basic and diluted net income per share (in thousands) $ 16,855 $ 18,541
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,373 3,959
Provision for bad debts - accounts receivable 1,244 4,517
Share-based compensation expense 1,669 1,061
Deferred income tax benefit (2,926) (2,417)
Change in fair value of acquisition-related contingent liabilities 1,741 1,165
Pension plan termination charge 6,945 0
Changes in assets and liabilities, net of acquisition of business:    
Accounts receivable (896) (12,261)
Accounts receivable - other (1,392) 264
Contract assets (1,868) 3,404
Inventories (8,738) 492
Prepaid expenses and other current assets (2,565) (1,479)
Other assets (1,401) 390
Accounts payable and other current liabilities (14,535) 21,023
Payment of acquisition-related contingent liabilities (4,220) 0
Long-term pension liability 384 639
Other long-term liabilities 2,320 464
Net cash provided by (used in) operating activities (3,010) 39,762
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (11,326) (4,893)
Acquisition of business (6,026) 0
Net cash used in investing activities (17,352) (4,893)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 127,574 77,525
Repayment of debt (101,801) (111,838)
Payment of cash dividends (3,437) (1,521)
Payment of acquisition-related contingent liability (1,641) (1,966)
Proceeds received on exercise of stock options 2,122 33
Tax withholdings on exercise of performance based stock (405) 0
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 22,583 (38,280)
Effect of currency exchange rates on cash 137 (525)
Net increase (decrease) in cash and cash equivalents 2,358 (3,936)
Cash and cash equivalents balance, beginning of period 5,172 9,038
Cash and cash equivalents balance, end of period $ 7,530 $ 5,102