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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 12,667 $ 9,197
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,209 6,210
(Gain) Loss on disposal of property, plant & equipment (43) 298
Share-based compensation 1,771 1,338
Deferred income taxes 482 977
Changes in operating assets and liabilities:    
Receivables, net (6,028) 1,284
Inventories (3,032) (1,212)
Prepaid expenses and other current assets (517) (1,396)
Refundable income taxes (848) (297)
Other assets 72 76
Accounts payable 3,210 (255)
Accrued expenses 417 (68)
Deferred revenue (216) (628)
Non-qualified deferred compensation plan and other liabilities (469) 1,214
Net cash provided by operating activities 13,675 16,738
Cash flows from investing activities:    
Additions to property, plant, and equipment (4,277) (3,057)
Proceeds from sale of fixed assets 51 105
Net cash used in investing activities (4,226) (2,952)
Cash flows from financing activities:    
Proceeds from advances on revolving line of credit 0 5,500
Payments on revolving line of credit 0 (5,500)
Principal payments on finance lease obligation (11) (7)
Proceeds from exercise of stock options 162 474
Payment of statutory withholdings for restricted stock units vested (740) (561)
Net cash used in financing activities (589) (94)
Net increase in cash and cash equivalents 8,860 13,692
Cash and cash equivalents at beginning of period 24,234 3,743
Cash and cash equivalents at end of period $ 33,094 $ 17,435