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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities:    
Net income $ 7,963 $ 11,747
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,583 9,577
Deferred income taxes (1,786) (778)
Stock based compensation 2,023 2,279
Loss on disposition of property and equipment 16 107
Provisions for inventory 1,704 747
Other (44) 256
Changes in assets and liabilities:    
Accounts receivable, net (8,237) (25,788)
Inventory (1,137) (18,863)
Other assets (6,417) (10,716)
Accounts payable 24,289 34,097
Other liabilities (6,848) (3,349)
Net cash provided by (used in) operating activities 25,109 (684)
Investing Activities:    
Purchases of property and equipment (6,294) (5,659)
Proceeds from the sale of property and equipment 17 52
Proceeds from deferred purchase price of factored receivables 3,728  
Cost of technology investments   (350)
Net cash used in investing activities (2,549) (5,957)
Financing Activities:    
Repayments of debt (564)  
Proceeds from the exercise of Common Stock options 263 569
Taxes withheld and paid on employees' share-based payment awards (2,667) (4,319)
Cash paid for the repurchase of Common Stock (9,997)  
Net cash used in financing activities (12,965) (3,750)
Foreign currency effect 3,144 (2,298)
Net increase (decrease) in cash and cash equivalents 12,739 (12,689)
Cash and cash equivalents at beginning of period 153,891 190,606
Cash and cash equivalents at end of period 166,630 177,917
Supplemental disclosure of cash flow information:    
Cash paid for taxes 5,536 3,267
Cash paid for interest 3,235 421
Non-Cash Investing Activities:    
Period-end balance of accounts payable for property and equipment 2,370 $ 2,437
Deferred purchase price of receivables factored in the period $ 4,739