XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net income $ 14,972 $ 13,215
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense 1,764 1,968
Restructuring 0 728
Stock-based compensation 1,776 1,092
Gain from extinguishment of debt (Paycheck Protection Program Term Note) 0 (10,000)
Net pension payment (775) (692)
Changes in assets and liabilities:    
Increase in accounts receivable and contract assets (2,916) (10,761)
Decrease in prepaid expenses, income tax receivable and other current assets 2,496 199
Increase in accounts payable and accrued expenses 4,778 503
Increase in deferred revenue and customer advances 3,101 316
Decrease in customer postage and program deposits (1,912) (1,044)
Decrease in other accrued expenses and liabilities (1,032) (1,462)
Net cash provided by (used in) operating activities 22,252 (5,938)
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (5,743) (2,478)
Proceeds from sale of property, plant and equipment 57 101
Net cash used in investing activities (5,686) (2,377)
Cash Flows from Financing Activities    
Repayment of borrowings (5,000) (4,000)
Debt financing costs (123) (386)
Payment of finance leases (148) (169)
Treasury stock activities (1,150) (290)
Net cash used in financing activities (6,421) (4,845)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (6,118) (1,713)
Net increase in cash and cash equivalents and restricted cash 4,027 (14,873)
Cash and cash equivalents and restricted cash at beginning of period 15,133 33,562
Cash and cash equivalents and restricted cash at end of period 19,160 18,689
Supplemental disclosures    
Cash paid for interest 137 327
Cash paid for income taxes, net 828 1,134
Non-cash investing and financing activities    
Purchases of property, plant and equipment included in accounts payable 2,385 2,752
Cash and cash equivalents 6,907 16,044
Restricted cash 2,327 2,645
Cash held in Escrow account included in other current assets (see Note E) 9,926 0
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations $ 19,160 $ 18,689