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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 8,772 $ (31,970)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,995 13,004
Goodwill impairment charge 0 45,918
Intangible assets impairment charge 0 5,581
Inventory write-downs 2,346 13,569
Provision for bad debts - accounts receivable 539 2,891
Share-based compensation expense 3,787 4,289
Deferred income tax benefit (1,635) (12,352)
Gain on sale of property, plant and equipment 0 (3,435)
Change in fair value of acquisition-related contingent liabilities (189) (450)
Change in fair value of written put options 489 (1,565)
Changes in assets and liabilities, net of acquisition of businesses:    
Accounts receivable 1,051 680
Accounts receivable - other 3,019 1,347
Contract assets 4,310 (15,092)
Inventories 24,672 (15,898)
Prepaid expenses and other current assets 5,496 5,225
Other assets (2,012) 1,858
Accounts payable and other current liabilities 13,310 (14,614)
Payment of acquisition-related contingent liabilities (279) (3,346)
Long-term pension liability 407 2,190
Other long-term liabilities 851 (434)
Net cash provided by (used in) operating activities 78,929 (2,604)
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (4,963) (11,018)
Proceeds from disposals of property, plant and equipment 0 4,795
Acquisition of businesses 0 (11,202)
Other investments (545) 0
Net cash used in investing activities (5,508) (17,425)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 6,000 332,143
Repayment of debt (67,750) (292,773)
Debt issuance costs (300) (869)
Payment of cash dividends (9,188) (8,653)
Payment of acquisition-related contingent liabilities (553) (1,416)
Proceeds received on exercise of stock options 175 728
Tax withholdings on vesting of restricted shares and performance based shares and on exercise of stock rights 0 (314)
Net cash provided by (used in) financing activities (71,616) 28,846
Effect of currency exchange rates on cash 369 (30)
Net increase in cash and cash equivalents 2,174 8,787
Cash and cash equivalents balance, beginning of year 17,722 8,935
Cash and cash equivalents balance, end of year 19,896 17,722
Supplemental disclosure of cash flow information:    
Income taxes paid (refunded), net (978)  
Income taxes paid (refunded), net   1,348
Interest paid $ 9,588 $ 4,767