XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 26,953,000 $ 48,302,000
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 2,274,000 2,213,000
Amortization of intangible assets 2,368,000 2,095,000
Impairment of long lived assets 441,000  
Lower of cost or net realizable value inventory adjustment 3,811,000 (2,195,000)
Allowance for credit losses 14,000 800,000
Share based compensation 808,000 2,061,000
Amortization of deferred finance costs 171,000 669,000
Loss on extinguishment of debt   3,427,000
Deferred tax expense (1,020,000) 4,280,000
Changes in assets and liabilities:    
Trade accounts receivable (733,000) (24,863,000)
Inventories 52,189,000 8,341,000
Prepaid and other assets (6,732,000) (684,000)
Lease obligations (6,000) 1,000
Income taxes receivable 1,794,000 (4,212,000)
Accounts payable and accrued expenses (11,229,000) 3,283,000
Cash provided by operating activities 71,103,000 43,518,000
Cash flows from investing activities:    
Payments for acquisition (20,670,000)  
Additions to property, plant, and equipment (3,752,000) (2,215,000)
Cash used in investing activities (24,422,000) (2,215,000)
Cash flows from financing activities:    
Proceeds from issuance of common stock   39,000
Repurchase of common shares (2,636,000)  
Excess tax benefits from exercise of stock options (4,000) (693,000)
Borrowing of short-term debt - net   5,000,000
Repayment of long-term debt   (47,161,000)
Cash used in financing activities (2,640,000) (42,815,000)
Increase (decrease) in cash and cash equivalents 44,041,000 (1,512,000)
Cash and cash equivalents at beginning of period 12,446,000 5,295,000
Cash and cash equivalents at end of period 56,487,000 3,783,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 529,000 4,232,000
Cash paid for income taxes - net $ 7,042,000 $ 16,955,000