XML 90 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 10,236 $ 14,637 $ 21,714
Adjustments required to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 1,997 3,293 3,799
Write-down of obsolete inventory 2,106 6,211 2,918
Discount on marketable securities, net 144 32 217
Share-based compensation expense 2,355 2,424 2,425
Deferred taxes, net (699) 5 453
Changes in assets and liabilities:      
Accounts receivable - trade (1,441) 16,985 (13,237)
Accounts receivable - other 4,385 (3,384) (2,475)
Accounts receivable - related parties 364 261 (208)
Change in liability for employees' severance benefits, net 175 (79) 171
Inventories 3,529 2,540 (10,287)
Trade accounts payable 769 3,059 1,698
Other accounts payable and accrued expenses 2,824 (314) (1,144)
Contingent consideration benefit (4,642)
Accounts payable - related parties (18) 8 6
Net cash provided by operating activities 26,726 45,678 1,408
Cash flows from investing activities      
Investment in short-term bank deposits, net (13,542)
Purchase of property, plant and equipment (1,441) (1,345) (1,690)
Investment in intangible assets (1,018) (1,022) (11)
Proceeds from maturity of marketable securities 1,997 7,750 16,175
Purchases of marketable securities (15,604) (41,670) (5,961)
Net cash provided by (used in) investing activities (29,608) (36,287) 8,513
Cash flows from financing activities      
Exercise of options 154 288 2,651
Dividend (7,382)
Purchase of treasury shares (7,971)
Net cash provided by (used in) financing activities (7,817) 288 (4,731)
Effect of exchange rate changes on cash balances held 360 108 (86)
Increase (decrease) in cash and cash equivalents (10,339) 9,787 5,104
Cash and cash equivalents at beginning of year 26,808 17,021 11,917
Cash and cash equivalents at end of year 16,469 26,808 17,021
Supplementary cash flow information Non-cash transactions:      
Investments in property, plant and equipment 97 146 119
Supplementary cash flow information Cash paid during the year for:      
Income taxes $ 1,103 $ 3,260 $ 4,584