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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 17,479 $ 16,881
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 1,883 1,636
Amortization of debt issuance costs 36 36
Non-cash stock based compensation expense 5,449 5,219
Provision for doubtful accounts 184 303
Loss on foreign currency translation 94 605
Deferred income tax expense 1,491 2,390
Changes in assets and liabilities:    
Increase in accounts receivable and contract assets (6,172) (9,772)
Increase in prepaid expenses and other assets (2,074) (1,710)
Decrease in accounts payable (3,267) (3,266)
Decrease in accrued expenses and other liabilities (1,685) (6,459)
Increase in contract liabilities 1,211 1,174
Increase (decrease) in income tax payable 1,882 (2,387)
Net cash provided by operating activities 16,511 4,650
Cash flows from investing activities:    
Purchases of property and equipment (1,832) (2,125)
Net cash used in investing activities (1,832) (2,125)
Cash flows from financing activities:    
Debt issuance costs   (13)
Debt proceeds   5,000
Repayments of debt (6,000) (12,000)
Proceeds from ESPP 535 481
Taxes paid to satisfy employee withholding tax obligations (3,925) (3,645)
Dividends paid (6,032) (5,987)
Repurchase of common stock (1,055) (734)
Net cash used in financing activities (16,477) (16,898)
Effect of exchange rate on cash (13) (48)
Net decrease in cash (1,811) (14,421)
Cash at beginning of period 20,956 30,255
Cash at end of period 19,145 15,834
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 1,949 5,192
Cash paid for interest 1,149 1,819
Supplemental disclosure of non-cash flow financing activities:    
Dividend declared during the quarter and paid the following quarter $ 3,037 $ 2,991