XML 26 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income $ 5,230,000 $ 6,127,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,665,000 3,492,000
Deferred income taxes (54,000) (75,000)
Interest rate swaps - Mark-to-market and amortization of losses (69,000) (38,000)
Share-based compensation 329,000 314,000
Loss on disposal of assets 6,000 1,000
(Gain) loss on foreign currency translation and transaction 8,000 (14,000)
Change in operating assets and liabilities:    
Accounts receivable (4,816,000) 1,206,000
Inventories 100,000 (625,000)
Prepaid and other assets (114,000) (585,000)
Accounts payable 1,091,000 16,000
Accrued and other liabilities 772,000 (3,980,000)
Post retirement benefits liability (344,000) (516,000)
Net cash provided by operating activities 5,804,000 5,323,000
Cash flows from investing activities:    
Purchase of property, plant and equipment (7,127,000) (7,103,000)
Proceeds from sale of property, plant and equipment 92,000 37,000
Net cash used in investing activities (7,035,000) (7,066,000)
Cash flows from financing activities:    
Gross repayments on revolving line of credit 0 (41,390,000)
Gross borrowings on revolving line of credit 0 42,142,000
Payment of principal on Mexican loan (1,600,000) (1,600,000)
Payments of principal on capex loan (1,286,000) (1,286,000)
Payment of principal on industrial development revenue bond (420,000) (585,000)
Payments related to purchase of treasury stock (334,000) (253,000)
Proceeds from issuance of common stock 409,000 81,000
Net cash used in financing activities (3,231,000) (2,891,000)
Net change in cash and cash equivalents (4,462,000) (4,634,000)
Cash and cash equivalents at beginning of period 7,838,000 4,634,000
Cash and cash equivalents at end of period 3,376,000 0
Cash paid for:    
Interest (net of amounts capitalized) 176,000 173,000
Income taxes 1,056,000 3,234,000
Non Cash:    
Fixed asset purchases in accounts payable $ 82,000 $ 431,000