XML 13 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 29, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 8,731 $ 8,161
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 942 830
Amortization of debt issuance costs 18 18
Non-cash stock based compensation expense 2,599 2,447
Provision for doubtful accounts 88 16
Loss on foreign currency translation 77 237
Deferred income tax expense 2,001 1,961
Changes in assets and liabilities:    
Increase in accounts receivable and contract assets (5,928) (3,676)
Increase in prepaid expenses and other assets (162) (1,799)
Decrease in accounts payable (1,341) (1,855)
Decrease in accrued expenses and other liabilities (7,185) (11,563)
Increase in contract liabilities 2,869 2,306
Increase (decrease) in income tax payable 83 (146)
Net cash provided by (used in) operating activities 2,792 (3,063)
Cash flows from investing activities:    
Purchases of property and equipment (948) (1,063)
Net cash used in investing activities (948) (1,063)
Cash flows from financing activities:    
Debt issuance costs   (13)
Debt proceeds   5,000
Repayments of debt (2,000) (7,000)
Taxes paid to satisfy employee withholding tax obligations (3,782) (3,526)
Dividends paid (2,996) (2,997)
Repurchase of common stock (1,055) (711)
Net cash used in financing activities (9,833) (9,247)
Effect of exchange rate on cash (10) (18)
Net decrease in cash (7,999) (13,391)
Cash at beginning of period 20,957 30,255
Cash at end of period 12,958 16,864
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 114 330
Cash paid for interest 596 861
Supplemental disclosure of non-cash flow investing and financing activities:    
Dividend declared during the quarter and paid the following quarter $ 3,036 $ 2,990