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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,230 $ 10,478
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 2,923 2,217
Provision for bad debts - accounts receivable 639 359
Share-based compensation expense 1,212 832
Deferred income tax provision (benefit) 46 (1,145)
Change in fair value of acquisition-related contingent liabilities 406 1,199
Changes in assets and liabilities, net of acquisition of businesses:    
Accounts receivable 760 (1,731)
Accounts receivable - other (907) (798)
Contract assets (2,969) (1,447)
Inventories (8,713) 1,881
Prepaid expenses and other current assets (1,897) (331)
Other assets (524) (771)
Accounts payable and other current liabilities (5,744) (15,057)
Long-term pension liability 553 446
Other long-term liabilities 258 1,613
Net cash used in operating activities (8,727) (2,255)
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (4,188) (6,736)
Acquisition of businesses (125) (6,000)
Net cash used in investing activities (4,313) (12,736)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 62,858 72,359
Repayment of debt (48,998) (49,835)
Payment of cash dividends (1,918) (1,548)
Proceeds received on exercise of stock options 196 130
Tax withholdings on vesting of restricted shares and performance based shares (232) (372)
Tax benefit from vesting of acquisition-related restricted stock 0 171
Net cash provided by financing activities 11,906 20,905
Effect of currency exchange rates on cash 514 (175)
Net increase (decrease) in cash and cash equivalents (620) 5,739
Cash and cash equivalents balance, beginning of period 8,935 5,172
Cash and cash equivalents balance, end of period $ 8,315 $ 10,911