XML 16 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 29, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 26,301 $ 31,086
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 2,528 2,468
Amortization expense   154
Amortization of debt issuance costs 54 43
Non-cash stock based compensation expense 7,930 7,828
Provision for doubtful accounts 219 295
Loss (gain) on foreign currency translation 263 (1,383)
Deferred income tax expense 1,617 360
Changes in assets and liabilities:    
Increase in accounts receivable and contract assets (14,134) (1,446)
(Increase) decrease in prepaid expenses and other assets (1,482) 3,566
Decrease in accounts payable (3,701) (2,992)
Decrease in accrued expenses and other liabilities (5,619) (9,783)
Decrease in contract liabilities (409) (2,201)
(Decrease) increase in income tax payable (1,750) 6,083
Net cash provided by operating activities 11,817 34,078
Cash flows from investing activities:    
Purchases of property and equipment (3,203) (3,163)
Net cash used in investing activities (3,203) (3,163)
Cash flows from financing activities:    
Debt issuance costs (14) (10)
Proceeds from borrowings 5,000  
Repayment of borrowings (21,000)  
Proceeds from ESPP 481 407
Proceeds from the exercise of stock options   120
Dividends paid (8,978) (6,954)
Repurchase of common stock (4,446) (3,211)
Net cash used in financing activities (28,957) (9,648)
Effect of exchange rate on cash (33) (16)
Net (decrease) increase in cash (20,376) 21,251
Cash at beginning of period 30,255 45,794
Cash at end of period 9,879 67,045
Supplemental disclosure of cash flow information:    
Cash paid (refunded) for income taxes 8,719 (34)
Cash paid for interest 2,690 43
Supplemental disclosure of non-cash flow investing and financing activities:    
Dividend declared during the quarter and paid the following quarter $ 2,994 $ 3,483