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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 13,973 $ 9,901
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,120 5,820
Gain on sale of fixed assets (51)
Share-based compensation 1,169 963
Deferred income taxes 1,252 1,007
Changes in operating assets and liabilities:    
Receivables, net (475) (4,379)
Inventories 357 (2,621)
Prepaid expenses (453) (262)
Refundable income taxes 249 51
Other assets 35 (439)
Accounts payable (220) 2,249
Accrued expenses 689 157
Deferred revenue 25 872
Non-qualified deferred compensation plan and other liabilities (335) 281
Net cash provided by operating activities 22,386 13,549
Cash flows from investing activities:    
Additions to property, plant, and equipment (4,381) (4,521)
Acquisition of Dielectrics, net of cash acquired (76,978)
Proceeds from sale of fixed assets 77
Net cash used in investing activities (4,381) (81,422)
Cash flows from financing activities:    
Proceeds from advances on revolving line of credit 36,000
Payments on revolving line of credit (8,000) (20,000)
Proceeds from the issuance of long-term debt 20,000
Principal repayments of long-term debt (2,143) (2,143)
Proceeds from exercise of stock options, net of shares presented for exercise 561 1,270
Payment of statutory withholdings for stock options exercised and restricted stock units vested (271) (144)
Net cash (used in) provided by financing activities (9,853) 34,983
Net increase (decrease) in cash and cash equivalents 8,152 (32,890)
Cash and cash equivalents at beginning of period 3,238 37,978
Cash and cash equivalents at end of period $ 11,390 $ 5,088