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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 3,912 $ 888
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,252 3,388
Inventory write-downs 420 0
Provision for bad debts - accounts receivable 83 (97)
Share-based compensation expense 1,015 1,080
Change in fair value of acquisition-related contingent liabilities 152 (563)
Change in fair value of written put options 392 (442)
Changes in assets and liabilities, net of acquisition of businesses:    
Accounts receivable 9,419 10,150
Accounts receivable - other 188 2,928
Contract assets (3,835) 1,590
Inventories 5,010 2,807
Prepaid expenses and other current assets 2,252 2,403
Other assets (803) (657)
Accounts payable and other current liabilities (12,122) 1,596
Long-term pension liability 108 209
Other long-term liabilities 4 (230)
Net cash provided by operating activities 9,447 25,050
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (675) (2,114)
Net cash used in investing activities (675) (2,114)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings of debt 7,000 1,000
Repayment of debt (10,937) (12,938)
Payment of cash dividends (2,330) (2,295)
Payment of acquisition-related contingent liabilities (557) 0
Proceeds received on exercise of stock options 449 35
Net cash used in financing activities (6,375) (14,198)
Effect of currency exchange rates on cash (253) 140
Net increase in cash and cash equivalents 2,144 8,878
Cash and cash equivalents balance, beginning of period 19,896 17,722
Cash and cash equivalents balance, end of period $ 22,040 $ 26,600