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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 5,215 $ (34,164)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,331 9,504
Goodwill impairment charge 0 45,918
Intangible assets impairment charge 0 5,581
Inventory write-downs 1,609 5,781
Provision for bad debts - accounts receivable 64 1,565
Share-based compensation expense 3,523 3,382
Deferred income tax benefit 0 (6,361)
Change in fair value of acquisition-related contingent liabilities (442) 284
Change in fair value of written put options (460) (1,791)
Changes in assets and liabilities, net of acquisition of businesses:    
Accounts receivable 6,410 3,521
Accounts receivable - other 3,240 978
Contract assets 6,208 (10,222)
Inventories 18,280 (19,242)
Prepaid expenses and other current assets 3,462 579
Other assets (844) 2,677
Accounts payable and other current liabilities 2,148 (9,561)
Payment of acquisition-related contingent liabilities (279) (3,346)
Long-term pension liability 561 1,662
Other long-term liabilities 362 (1,249)
Net cash provided by (used in) operating activities 59,388 (4,504)
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (4,023) (11,221)
Acquisition of businesses 0 (11,202)
Net cash used in investing activities (4,023) (22,423)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 4,000 320,143
Repayment of debt (51,813) (274,898)
Debt issuance costs (300) (869)
Payment of cash dividends (6,886) (6,380)
Payment of acquisition-related contingent liabilities (553) (1,416)
Proceeds received on exercise of stock options 97 684
Tax withholdings on vesting of restricted shares and performance based shares 0 (232)
Net cash provided by (used in) financing activities (55,455) 37,032
Effect of currency exchange rates on cash 97 (132)
Net increase in cash and cash equivalents 7 9,973
Cash and cash equivalents balance, beginning of period 17,722 8,935
Cash and cash equivalents balance, end of period $ 17,729 $ 18,908