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Statements of Consolidated Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
OPERATING ACTIVITIES      
Net income $ 23,336 $ 26,581 $ 12,654
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation and amortization 13,748 12,444 12,790
Provision for accounts receivable allowances 2,132 1,206 1,165
Provision for inventory reserves 1,283 2,402 1,205
Deferred income taxes (1,274) 314 2,436
Share-based compensation expense 4,396 4,236 3,055
Loss (gain) on sale of property and equipment 10 (156) 160
Other - net 292 192 213
Changes in operating assets and liabilities assets:      
Accounts receivable (9,777) (4,499) (9,205)
Inventories (9,455) (13,703) (2,208)
Trade accounts payables and accrued liabilities 6,087 3,048 4,957
Income taxes, net 634 (1,896) 7,134
Contributions to company pension plan 0 (5,340) (225)
Other - net (4,195) (1,853) (301)
NET CASH PROVIDED BY OPERATING ACTIVITIES 27,217 22,976 33,830
INVESTING ACTIVITIES      
Capital expenditures (29,467) (9,528) (11,233)
Proceeds from the sale of property and equipment 54 195 142
Purchase of marketable securities (496) (4,690) 0
Proceeds from sale of marketable securities 2,309 2,953 0
Purchase of company owned life insurance policies (2,309) (2,953) 0
Acquisition of businesses, net of cash (18,894) 0 0
Fixed-term deposits 0 0 8,527
NET CASH USED IN INVESTING ACTIVITIES (48,803) (14,023) (2,564)
FINANCING ACTIVITIES      
(Decrease) increase in notes payable to banks (355) 8,446 (537)
Proceeds from long-term debt 93,036 76,030 55,581
Payments of long-term debt (64,124) (85,496) (63,981)
Dividends paid (4,230) (4,088) (4,099)
Proceeds from issuance of common shares 213 222 1,962
Purchase of common shares for treasury (2,800) (191) (2)
Purchase of common shares for treasury from related parties (4,026) (3,974) (8,475)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 17,714 (9,051) (19,551)
Effects of exchange rate changes on cash and cash equivalents (775) (1,591) 1,359
Net (decrease) increase in cash, cash equivalents and restricted cash (4,647) (1,689) 13,074
Cash, cash equivalents and restricted cash at beginning of year 43,910 [1] 45,599 [1] 32,525
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR [1] $ 39,263 $ 43,910 $ 45,599
[1] Includes restricted cash of $.3 million, $.3 million and $1.2 million for the years ended December 31, 2019, 2018 and 2017, respectively. For further information regarding restricted cash, refer to Note E, “Debt Arrangements.”