XML 18 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 13,137 $ 16,520 $ 14,605
Adjustments required to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 3,856 2,767 996
Write-down of obsolete inventory 3,170 219 1,029
Change in liability for employees' severance benefits, net 126 (112) (86)
Discount on marketable securities, net 358 561 758
Share-based compensation expense 1,550 1,998 1,266
Deferred taxes income (260) (907) (219)
Capital gain (3)
Changes in assets and liabilities:      
Accounts receivable - trade (4,007) (4,850) (3,248)
Accounts receivable - other (1,832) 127 188
Accounts receivable - related parties 56 (83) (6)
Inventories (21,426) (939) 3,416
Trade accounts payable 1,809 234 1,321
Other accounts payable and accrued expenses 1,098 853 649
Contingent consideration adjustments (334) (3,090) 45
Accounts payable - related parties (8) (8) (30)
Net cash provided by (used in) operating activities (2,707) 13,287 20,684
Cash flows from investing activities      
Proceeds from (investments in) short term bank deposits, net 4,000 (1,000)
Sale of property, plant and equipment 19
Purchase of property, plant and equipment (1,441) (2,984) (1,858)
Investment in intangible assets (100)
Proceeds from maturity of marketable securities 8,575 15,100 14,750
Purchases of marketable securities (12,935) (11,740)
Business acquisition, net of acquired cash (see Note 3) (10,000) (10,048)
Net cash provided by (used in) investing activities 7,134 (6,800) (9,996)
Cash flows from financing activities      
Exercise of options 952 943 1,353
Dividend (7,312) (7,274) (7,183)
Payment made in connection with contingent consideration (4,463)
Net cash used in financing activities (10,823) (6,331) (5,830)
Effect of exchange rate changes on cash balances held 135 132 35
Increase (decrease) in cash and cash equivalents (6,261) 288 4,893
Cash and cash equivalents at beginning of year 18,178 17,890 12,997
Cash and cash equivalents at end of year 11,917 18,178 17,890
Supplementary cash flow information Non-cash transactions:      
Investments in PPE and intangible assets 39 72 87
Supplementary cash flow information Cash paid during the year for:      
Income taxes $ 4,648 $ 4,487 $ 1,277