Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 4,155 $ 7,910
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 62 33
Depreciation and amortization 2,396 2,152
Share-based compensation expense 1,586 2,085
Loss (gain) on sale of property and equipment 78 (1,251)
Deferred income taxes 311 (46)
Purchase of trading investment securities (252) (156)
Proceeds from sale of trading investment securities 56 82
Realized and unrealized gains on investments (60) (493)
Foreign exchange (gains) losses (546) 764
Changes in assets and liabilities:    
Accounts receivable (164) (271)
Inventories (6,177) (659)
Prepaid expenses and other current assets (912) (4,057)
Other assets (1,027) 16
Accounts payable 2,402 1,124
Accrued volume incentives 2,798 (146)
Accrued liabilities 950 (2,102)
Deferred revenue 735 (727)
Income taxes payable (150) (1,452)
Liability related to unrecognized tax benefits 231 230
Deferred compensation payable (9) 93
Net cash provided by operating activities 6,463 3,129
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (4,592) (13,071)
Proceeds from sale of property, plant and equipment 0 1,373
Proceeds from sale/maturities of investments available for sale 0 810
Net cash used in investing activities (4,592) (10,888)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments of cash dividends (3,756) (3,740)
Net borrowings on revolving credit facility 1,224 0
Net proceeds from the exercise of stock options 59 3,476
Payment of withholding taxes related to the vesting of restricted stock units (169) 0
Repurchase of common stock 0 (3,783)
Net cash used in financing activities (2,642) (4,047)
Effect of exchange rates on cash and cash equivalents 779 (676)
Net increase (decrease) in cash and cash equivalents 8 (12,482)
Cash and cash equivalents at the beginning of the period 41,420 58,699
Cash and cash equivalents at the end of the period 41,428 46,217
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 3,036 6,185
Cash paid for interest $ 122 $ 59