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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 888 $ 5,230
Adjustments to reconcile net income to net cash provided by (used) in operating activities:    
Depreciation and amortization 3,388 2,923
Provision for bad debts - accounts receivable (97) 639
Share-based compensation expense 1,080 1,212
Deferred income tax provision 0 46
Change in fair value of acquisition-related contingent liabilities (563) 406
Change in fair value of written put options (442) 0
Changes in assets and liabilities, net of acquisition of businesses:    
Accounts receivable 10,150 760
Accounts receivable - other 2,928 (907)
Contract assets 1,590 (2,969)
Inventories 2,807 (8,713)
Prepaid expenses and other current assets 2,403 (1,897)
Other assets (657) (524)
Accounts payable and other current liabilities 1,596 (5,744)
Long-term pension liability 209 553
Other long-term liabilities (230) 258
Net cash provided by (used in) operating activities 25,050 (8,727)
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (2,114) (4,188)
Acquisition of businesses 0 (125)
Net cash used in investing activities (2,114) (4,313)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 1,000 62,858
Repayment of debt (12,938) (48,998)
Payment of cash dividends (2,295) (1,918)
Proceeds received on exercise of stock options 35 196
Tax withholdings on vesting of restricted shares and performance based shares 0 (232)
Net cash provided by (used in) financing activities (14,198) 11,906
Effect of currency exchange rates on cash 140 514
Net increase (decrease) in cash and cash equivalents 8,878 (620)
Cash and cash equivalents balance, beginning of period 17,722 8,935
Cash and cash equivalents balance, end of period $ 26,600 $ 8,315