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, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 17,609 $ 25,380 $ 17,601
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for doubtful accounts 535 45 (133)
Depreciation and amortization 4,466 4,078 4,362
Tax benefit from stock option exercise (653) (378)  
Share-based compensation expense 3,389 2,878 3,478
(Gain) loss on sale of property and equipment (128) 85 224
Deferred income taxes 1,092 4,270 (5,073)
Amortization of bond discount 1 9 9
Purchase of trading investment securities (88) (92) (102)
Proceeds from sale of trading investment securities 510 354 438
Realized and unrealized gains on investments (122) (90) (44)
Foreign exchange gains (1,254) (290) (466)
Changes in assets and liabilities:      
Accounts receivable (1,358) 266 (3,742)
Inventories 838 (1,466) (5,566)
Prepaid expenses and other (5,728) (1,155) 1,032
Other assets (303) (193) 2,986
Accounts payable (552) 77 1,316
Accrued volume incentives 1,286 (1,279) 805
Accrued liabilities 7,379 (1,289) (6,152)
Deferred revenue (138) 1,708 (782)
Income taxes payable 1,071 (6,259) 5,009
Liability related to unrecognized tax positions 1,831 145 (10,943)
Deferred compensation payable (305) (153) (349)
Net cash provided by operating activities 29,378 26,651 3,908
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (8,570) (6,629) (2,419)
Purchases of investments available for sale (442) (174) (6,968)
Proceeds from sale/maturities of investments available for sale 200 3,789 7,697
Proceeds from sale of property, plant and equipment 248 25 11
Net cash used in investing activities (8,564) (2,989) (1,679)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of cash dividends (30,419) (2,349)  
Borrowings on long-term debt and revolving credit facility 10,000   10,000
Principal payments of long-term debt and revolving credit facility (3,353) (3,570) (810)
Tax benefit from stock option exercise 653 378  
Proceeds from exercise of stock options 4,334 2,408 398
Repurchase of common stock (2,546)    
Net cash provided by (used in) financing activities (21,331) (3,133) 9,588
Effect of exchange rates on cash and cash equivalents (1,477) (257) (452)
Net increase (decrease) in cash and cash equivalents (1,994) 20,272 11,365
Cash and cash equivalents at beginning of the year 79,241 58,969 47,604
Cash and cash equivalents at end of the year 77,247 79,241 58,969
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 10,278 12,960 6,570
Cash paid for interest 128 128 36
Supplemental disclosure of noncash investing and financing activities:      
Purchases of property, plant and equipment included in accounts payable $ 155 $ 169 $ 19