Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (1,202) $ (13,817) $ 675
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Impairment of long-lived assets, net 0 113 221
Provision for doubtful accounts 818 215 305
Depreciation and amortization 9,806 8,634 4,808
Share-based compensation expense 2,170 2,218 3,217
(Gain) loss on sale of property and equipment (3,990) 284 149
Deferred income taxes (18) 14,134 766
Purchase of trading investment securities (165) (501) (429)
Proceeds from sale of trading investment securities 775 151 147
Realized and unrealized gains on investments 87 (216) (63)
Foreign exchange losses (gains) 1,697 (1,980) 1,348
Changes in assets and liabilities:      
Accounts receivable 189 (1,241) (343)
Inventories 1,066 5,177 (9,569)
Prepaid expenses and other (821) (1,191) 2,442
Other assets 814 2,391 (3,025)
Accounts payable 1,035 (1,123) (935)
Accrued volume incentives and service fees 1,762 1,884 1,477
Accrued liabilities 10,045 (986) 1,519
Deferred revenue (357) (324) (488)
Income taxes payable 1,297 (1,758) 1,924
Liability related to unrecognized tax positions (2,501) (2,129) (1,076)
Deferred compensation payable (674) 589 347
Net cash provided by operating activities 21,833 10,524 3,417
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (4,834) (5,501) (11,028)
Proceeds from sale of property, plant and equipment 5,045 521 0
Proceeds from sale/maturities of investments available for sale 0 1,776 5
Purchase of intangible assets 0 0 (509)
Net cash provided by (used in) investing activities 211 (3,204) (11,532)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of cash dividends 0 (1,848) (7,509)
Proceeds from new revolving credit facility 68,322 19,184 0
Principal payments of new revolving credit facility (81,503) (6,003) 0
Net borrowings on original revolving credit facility 0 (9,919) 7,223
Proceeds from borrowings from related party 1,000 506 0
Proceeds from exercise of stock options 664 (347) 0
Excess Tax Benefit from Share-based Compensation, Financing Activities (675) 0 0
Net cash provided by (used in) financing activities (12,192) 1,573 (286)
Effect of exchange rates on cash and cash equivalents (2,124) 1,733 (735)
Net increase (decrease) in cash and cash equivalents 7,728 10,626 (9,136)
Cash and cash equivalents at beginning of the year 42,910 32,284 41,420
Cash and cash equivalents at end of the year 50,638 42,910 32,284
Supplemental disclosure of cash flow information:      
Cash paid for income taxes, net of refunds 3,535 4,597 3,589
Cash paid for interest 397 257 254
Supplemental disclosure of noncash investing and financing activities:      
Purchases of property, plant and equipment included in accounts payable and accrued liabilities $ 32 $ 63 $ 178