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, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 16,416 $ 550
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 45 45
Depreciation and amortization 11,816 11,025
Noncash lease expense 4,417 4,657
Share-based compensation expense 4,893 2,901
Loss on disposal or sale of property and equipment 0 1,069
Deferred income taxes (8,525) 6,603
Purchase of trading investment securities 0 (32)
Proceeds from sale of trading investment securities 97 134
Realized and unrealized (gains) losses on investments (140) 160
Foreign exchange (gains) losses (970) 917
Changes in operating assets and liabilities:    
Accounts receivable 4,921 (5,942)
Inventories 995 (8,841)
Prepaid expenses and other (683) 552
Other assets 679 159
Accounts payable 1,422 (2,803)
Accrued volume incentives and service fees 1,242 (329)
Accrued liabilities 6,991 (5,608)
Deferred revenue (456) (1,235)
Lease liabilities (4,707) (4,654)
Income taxes payable 2,627 1,426
Liability related to unrecognized tax positions 103 218
Deferred compensation payable 43 (262)
Net cash provided by operating activities 41,226 710
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (10,478) (7,628)
Net cash used in investing activities (10,478) (7,628)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 16,294 45,005
Principal payments of revolving credit facility (16,294) (45,005)
Principal payments of long-term debt (1,174) (1,244)
Principal payments of borrowings from related party 0 (302)
Payments related to tax withholding for net-share settled equity awards (385) (1,129)
Repurchase of common stock (6,397) (13,571)
Net cash used in financing activities (7,956) (16,246)
Effect of exchange rates on cash and cash equivalents (451) (2,988)
Net increase (decrease) in cash and cash equivalents 22,341 (26,152)
Cash and cash equivalents at beginning of the year 60,032 86,184
Cash and cash equivalents at end of the year 82,373 60,032
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds 9,264 5,609
Cash paid for interest 539 264
Supplemental disclosure of noncash investing, and financing activities:    
Purchases of property, plant and equipment included in accounts payable and accrued liabilities $ 590 $ 375