XML 21 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities      
Net income $ 21,714 $ 13,137 $ 16,520
Adjustments required to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 3,799 3,856 2,767
Write-down of obsolete inventory 2,918 3,170 219
Change in liability for employees' severance benefits, net 171 126 (112)
Discount on marketable securities, net 217 358 561
Share-based compensation expense 2,425 1,550 1,998
Deferred taxes income 453 (260) (907)
Capital gain (3)
Changes in assets and liabilities:      
Accounts receivable - trade (13,237) (4,007) (4,850)
Accounts receivable - other (2,475) (1,832) 127
Accounts receivable - related parties (208) 56 (83)
Inventories (10,287) (21,426) (939)
Trade accounts payable 1,698 1,809 234
Other accounts payable and accrued expenses (1,144) 1,098 853
Contingent consideration benefit (4,642) (334) (3,090)
Accounts payable - related parties 6 (8) (8)
Net cash provided by (used in) operating activities 1,408 (2,707) 13,287
Cash flows from investing activities      
Proceeds from short term bank deposits, net 4,000
Sale of property, plant and equipment 19
Purchase of property, plant and equipment (1,690) (1,441) (2,984)
Investment in intangible assets (11)
Proceeds from maturity of marketable securities 16,175 8,575 15,100
Purchases of marketable securities (5,961) (12,935)
Business acquisition, net of acquired cash (see Note 3) (10,000)
Net cash provided by (used in) investing activities 8,513 7,134 (6,800)
Cash flows from financing activities      
Exercise of options 2,651 952 943
Dividend (7,382) (7,312) (7,274)
Payment made in connection with contingent consideration (4,463)
Net cash used in financing activities (4,731) (10,823) (6,331)
Effect of exchange rate changes on cash balances held (86) 135 132
Increase (decrease) in cash and cash equivalents 5,104 (6,261) 288
Cash and cash equivalents at beginning of year 11,917 18,178 17,890
Cash and cash equivalents at end of year 17,021 11,917 18,178
Supplementary cash flow information Non-cash transactions:      
Investments in PPE and intangible assets 119 39 72
Supplementary cash flow information Cash paid during the year for:      
Income taxes $ 4,584 $ 4,648 $ 4,487