v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (2,686) $ 4,152
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Provision for doubtful accounts 6 0
Depreciation and amortization 2,766 2,736
Non-cash lease expense 1,173 1,311
Share-based compensation expense 801 1,005
Deferred income taxes 3,844 561
Purchase of trading investment securities (12) (16)
Proceeds from sale of trading investment securities 35 175
Realized and unrealized losses (gains) on investments 58 (16)
Foreign exchange losses 402 1,529
Changes in assets and liabilities:    
Accounts receivable 1,447 (2,689)
Inventories (3,489) 536
Prepaid expenses and other current assets (2,518) (272)
Other assets (20) 24
Accounts payable (946) 598
Accrued volume incentives and service fees (464) 1,644
Accrued liabilities (5,386) (6,248)
Deferred revenue (1,632) (394)
Lease liabilities (1,031) (1,170)
Income taxes payable (191) (699)
Liability related to unrecognized tax benefits 0 (10)
Deferred compensation payable (81) (22)
Net cash provided by (used in) operating activities (7,924) 2,735
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (1,518) (983)
Net cash used in investing activities (1,518) (983)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments of long-term debt (308) (397)
Principal payments of related party borrowing (300) 0
Proceeds from the exercise of stock awards 795 914
Repurchase of common stock (7,971) 0
Net cash used in financing activities (9,374) (1,311)
Effect of exchange rates on cash and cash equivalents (827) (1,257)
Net decrease in cash and cash equivalents (19,643) (816)
Cash and cash equivalents at the beginning of the period 86,184 92,069
Cash and cash equivalents at the end of the period 66,541 91,253
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes, net of refunds 1,809 2,026
Cash paid for interest $ 45 $ 50

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