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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Operating Activities      
Net income $ 32,070 $ 21,117 $ 18,633
Adjustment to reconcile net income to net cash used by operating activities:      
Provision for doubtful accounts 992 1,112 546
Depreciation 10,418 10,558 8,706
Amortization of intangibles 0 342 79
Amortization of debt issuance 188 375 63
Gain on bargain purchase (7,745) 0 (30,177)
Goodwill impairment charge 1,898 0 14,104
Stock-based compensation 986 674 543
Excess tax benefits from stock-based payment arrangements (63) 0 (122)
Provision for deferred income tax (benefit) expense 850 (6,384) 8,896
Gain on sale of equipment (263) (833) (59)
Changes in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable (15,152) (16,615) 40,285
Inventories (8,673) 24,603 32,432
Prepaid expenses and other (73) (1,061) 3,177
Trade accounts payable and accrued liabilities (4,178) 9,133 (25,408)
Income taxes payable 400 (268) 2,423
Other assets and liabilities, net (740) (876) (2,035)
Net cash provided by operating activities 10,915 41,877 72,086
Investing Activities      
Acquisitions, net of cash acquired (5,933) 0 0
Purchase of property, plant and equipment (6,369) (4,980) (3,453)
Proceeds from sale of property, plant and equipment 440 2,014 922
Net cash used in investing activities (11,862) (2,966) (2,531)
Financing Activities      
Net change in bank revolving credit facility (14,000) (20,000) (54,000)
Principal payments on long-term debt and capital leases (2,570) (4,545) (2,255)
Proceeds from issuance of long-term debt 0 368 1,387
Debt issuance cost 0 0 (938)
Dividends paid (2,845) (2,826) (2,399)
Proceeds from sale of common stock 281 990 1,118
Excess tax benefits from stock-based payment arrangements 63 0 122
Net cash provided by (used in) financing activities (19,071) (26,013) (56,965)
Effect of exchange rate changes on cash 63 (429) 652
Net change in cash and cash equivalents (19,955) 12,469 13,242
Cash and cash equivalents at beginning of the period 30,243 17,774 4,532
Cash and cash equivalents at end of the period 10,288 30,243 17,774
Cash paid during the period for:      
Interest 2,295 3,597 5,179
Income taxes $ 15,247 $ 12,999 $ 5,181