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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net income $ 8,097 $ 4,208
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 447 536
Stock-based compensation expense 553 576
Deferred income tax provision 154 528
(Increase) decrease in assets:    
Accounts receivable (3,021) (2,563)
Inventories (3,620) (4,393)
Prepaid expenses and other current assets (214) 614
Income taxes receivable (551) 174
Other non-current assets (232) 1,087
Increase (decrease) in liabilities:    
Accounts payable 4,768 5,917
Accrued expenses and other liabilities 999 553
Other long-term liabilities 747 (1,183)
Net cash provided by operating activities 8,127 6,054
INVESTING ACTIVITIES    
Capital expenditures (236) (665)
Net cash used for investing activities (236) (665)
FINANCING ACTIVITIES    
Payment of dividends (3,398) (4,074)
Cash paid for common stock purchased and retired (1,050) (1,055)
Net cash used for financing activities (4,448) (5,129)
Net increase in cash and cash equivalents 3,443 260
Cash and cash equivalents at beginning of period 31,573 19,804
Cash and cash equivalents at end of period 35,016 $ 20,064
Supplemental information:    
Income tax payments, net $ 2,534