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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 11,120 $ 17,702
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,325 7,095
Pension expense 5,006 1,411
Stock based compensation (95) 474
Contributions to pension plan (2,000) 0
Changes in operating assets and liabilities:    
Accounts receivable, net 4,652 (7,707)
Inventories, net (7,257) 8,765
Accounts payable 721 (2,396)
Commissions payable (468) (836)
Deferred revenue and customer deposits (1,104) 2,028
Income taxes 994 1,577
Accrued expenses and other (799) (900)
Benefit obligations (21) (725)
Net cash provided by operating activities 17,074 26,488
Capital additions (3,457) (3,464)
Proceeds (purchases) of short-term investments, net 0 (2)
Net cash used for investing activities (3,457) (3,466)
Cash used for financing activities:    
Cash dividends (7,562) (7,053)
Treasury share repurchases (361) 0
Other (285) (452)
Net cash used for financing activities (8,208) (7,505)
Effect of exchange rate changes on cash (179) 190
Net increase in cash and cash equivalents 5,230 15,707
Cash and cash equivalents:    
Beginning of period 80,555 46,458
End of period $ 85,785 $ 62,165