XML 19 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 4,350,000 $ 7,235,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,145,000 2,902,000
Interest rate swaps - Mark-to-market and amortization of losses 3,000 (14,000)
Share-based compensation 582,000 422,000
(Gain) loss on foreign currency translation and transaction (10,000) 30,000
Change in operating assets and liabilities:    
Accounts receivable 12,964,000 608,000
Inventories 1,454,000 (496,000)
Prepaid and other assets (456,000) 835,000
Accounts payable (4,770,000) 1,546,000
Increase (Decrease) in Income Taxes Receivable 670,000 2,285,000
Accrued and other liabilities (2,374,000) (6,900,000)
Post retirement benefits liability (147,000) (250,000)
Net cash provided by operating activities 15,411,000 8,203,000
Cash flows from investing activities:    
Purchase of property, plant and equipment (1,626,000) (2,408,000)
Business Combination, Purchase Price Allocated 0 (14,512,000)
Net cash used in investing activities (1,626,000) (16,920,000)
Cash flows from financing activities:    
Gross repayments on revolving line of credit 0 (10,102,000)
Gross borrowings on revolving line of credit 0 7,334,000
Excess tax benefit from equity plans (16,000) 122,000
Payments related to purchase of treasury stock (134,000) (244,000)
Proceeds from issuance of common stock 0 (19,000)
Net cash used in financing activities (2,364,000) 10,522,000
Net change in cash and cash equivalents 11,421,000 1,805,000
Cash and cash equivalents at beginning of period 8,943,000 2,312,000
Cash and cash equivalents at end of period 20,364,000 4,117,000
Cash paid for:    
Interest (net of amounts capitalized) 157,000 107,000
Income taxes 1,409,000 2,090,000
Non Cash:    
Fixed asset purchases in accounts payable 51,000 95,000
Term Loan [Member]    
Cash flows from financing activities:    
Proceeds from (Repayments of) Debt 0 15,500,000
Repayments of Short-term Debt 1,500,000 1,250,000
Capex Loan [Member]    
Cash flows from financing activities:    
Repayments of Short-term Debt $ 714,000 $ 857,000