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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 10,541 $ 5,725 $ 10,236
Adjustments required to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 2,437 2,384 1,997
Impairment of intangible assets 0 1,657 0
Write-down of obsolete inventory 5,246 1,578 2,106
Discount on marketable securities, net 621 244 144
Share-based compensation expense 2,862 2,711 2,355
Deferred taxes, net 48 (61) (699)
Changes in assets and liabilities:      
Accounts receivable - trade (9,472) 3,467 (1,441)
Accounts receivable - other 1,217 (1,362) 4,385
Accounts receivable - related parties 0 0 364
Change in liability for employees' severance benefits, net 138 153 175
Inventories (33,526) (13,336) 3,529
Trade accounts payable 15,031 (2,076) 769
Other accounts payable and accrued expenses 5,936 3,872 2,824
Accounts payable - related parties 0 0 (18)
Net cash provided by operating activities 1,079 4,956 26,726
Cash flows from investing activities      
Investment in short-term bank deposits, net 5,000 8,542 (13,542)
Purchase of property, plant and equipment (2,586) (1,694) (1,441)
Investment in intangible assets (3,572) (1,487) (1,018)
Proceeds from maturity of marketable securities 37,850 16,629 1,997
Purchases of marketable securities (19,927) (6,558) (15,604)
Net cash provided by (used in) investing activities 16,765 15,432 (29,608)
Cash flows from financing activities      
Exercise of options 0 276 154
Purchase of treasury shares (14,291) (16,798) (7,971)
Proceeds from reissuance of treasury shares upon exercise of options 4,514 0 0
Net cash used in financing activities (9,777) (16,522) (7,817)
Effect of exchange rate changes on cash balances held 542 341 360
Increase (decrease) in cash and cash equivalents 8,609 4,207 (10,339)
Cash and cash equivalents at beginning of year 20,676 16,469 26,808
Cash and cash equivalents at end of year 29,285 20,676 16,469
Supplementary cash flow information Non-cash transactions:      
Investments in property, plant and equipment and ROU 510 7,548 1,621
Supplementary cash flow information Cash paid during the year for:      
Income taxes $ 2,371 $ 1,284 $ 1,103