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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 12,203 $ 4,671 $ 8,165
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 11,884 11,616 11,662
Deferred income taxes (3,469) (475) 1,097
Share-based compensation 2,329 1,886 1,355
Loss on disposal of assets 0 571 0
Loss from extinguishment of debt 1,234 0 0
Loss on foreign currency 396 172 237
Change in operating assets and liabilities:      
Accounts receivable (9,000) (8,952) 4,840
Inventories 1,258 (6,769) 3,322
Prepaid and other assets 928 (565) (2,018)
Accounts payable 5,999 5,346 (3,142)
Accrued and other liabilities (4,067) 5,481 2,910
Post retirement benefits liability (713) (436) (264)
Net cash provided by operating activities 18,982 12,546 28,164
Cash flows from investing activities:      
Purchase of property, plant and equipment (16,588) (11,569) (3,683)
Proceeds from sale of property, plant and equipment 0 154 0
Net cash used in investing activities (16,588) (11,415) (3,683)
Cash flows from financing activities:      
Gross borrowings on revolving loans 165,172 49,610 56,793
Gross repayment on revolving loans (167,732) (45,606) (68,381)
Proceeds from term loan 25,000 0 30,165
Payment of principal of term loan (25,913) (3,022) (38,725)
Payment of deferred loan costs (402) (2) (2,038)
Payments related to the purchase of treasury stock (482) (96) (20)
Net cash provided by (used in) financing activities (4,357) 884 (22,206)
Net change in cash and cash equivalents (1,963) 2,015 2,275
Cash and cash equivalents at beginning of year 6,146 4,131 1,856
Cash and cash equivalents at end of year 4,183 6,146 4,131
Cash paid for:      
Interest 1,677 1,840 3,854
Income taxes 6,649 5,067 570
Non-cash investing activities:      
Fixed asset purchases in accounts payable 868 329 147
Non-cash financing activities:      
Deposit used in payment of principal on term loans $ 1,200 $ 0 $ 0