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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net earnings $ 42,347 $ 22,102
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 6,571 8,316
Stock-based compensation 1,851 1,087
Amortization of deferred financing costs 33 34
Deferred tax benefit (3,128) (2,965)
Net unrealized losses (gains) on foreign currency revaluation 505 (373)
Gain on sale of property (3,672) 0
Gain on sale of business (1,115) 0
Other, net (1,124) 90
Changes in operating assets and liabilities:    
Accounts receivable, net (236) (12,704)
Unbilled receivables 5,018 4,998
Inventories 13,473 (25,284)
Accounts payable (11,544) 6,323
Accrued expenses 2,448 4,421
Accrued restructuring costs 2,343 (12)
Income taxes payable 3,856 2,214
Other operating assets/liabilities, net (16,970) 2,899
Net cash provided by operating activities 40,656 11,146
Cash flows from investing activities:    
Purchases of property, plant and equipment (7,081) (3,546)
Payments for equity method investment (9,975) 0
Proceeds from sale of property, plant and equipment 5,239 87
Proceeds from sale of business 5,198 0
Net cash used in investing activities (6,619) (3,459)
Cash flows from financing activities:    
Dividends paid to common stockholders (1,658) (1,646)
Repayments under revolving credit line (40,000) 0
Borrowings under revolving credit line 5,000 0
Purchase of treasury stock 0 (349)
Net cash used in financing activities (36,658) (1,995)
Effect of exchange rate changes on cash and cash equivalents (2,592) (1,618)
Net (decrease) increase in cash and cash equivalents (5,213) 4,074
Cash and cash equivalents - beginning of period 70,266 61,756
Cash and cash equivalents - end of period 65,053 65,830
Supplementary information:    
Income taxes, net of refunds received 10,358 4,614
Interest payments 2,762 1,105
ROU assets obtained in exchange for lease obligations $ 5,172 $ 5,734