v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,152 $ 3,006
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 0 17
Depreciation and amortization 2,736 2,602
Non-cash lease expense 1,311 1,270
Share-based compensation expense 1,005 394
Tax benefit from the exercise of stock options 0 159
Loss on sale of property, plant and equipment 0 6
Deferred income taxes 561 249
Purchase of trading investment securities (16) (11)
Proceeds from sale of trading investment securities 175 73
Realized and unrealized (gains) losses on investments (16) 96
Foreign exchange losses 1,529 2,400
Changes in assets and liabilities:    
Accounts receivable (2,689) 1,318
Inventories 536 234
Prepaid expenses and other current assets (272) 165
Other assets 24 31
Accounts payable 598 704
Accrued volume incentives and service fees 1,644 4,356
Accrued liabilities (6,248) (2,206)
Deferred revenue (394) 406
Lease liabilities (1,170) (1,187)
Income taxes payable (699) (335)
Liability related to unrecognized tax positions (10) (73)
Deferred compensation payable (22) (158)
Net cash provided by operating activities 2,735 13,516
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (983) (1,209)
Net cash used in investing activities (983) (1,209)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments of long-term debt (397) 0
Payments related to tax withholding for net-share settled equity awards (914) 0
Tax benefit from exercise of stock options 0 (159)
Net cash used in financing activities (1,311) (159)
Effect of exchange rates on cash and cash equivalents (1,257) (1,632)
Net increase (decrease) in cash and cash equivalents (816) 10,516
Cash and cash equivalents at the beginning of the period 92,069 53,629
Cash and cash equivalents at the end of the period 91,253 64,145
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes, net of refunds 2,026 1,224
Cash paid for interest $ 50 $ 3

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