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, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 675 $ 13,656 $ 9,800
Adjustments to reconcile net income to net cash provided by operating activities:      
Write-off of cumulative translation adjustments 0 0 4,135
Impairment of property, plant and equipment, net 221 0 2,947
Provision for doubtful accounts 305 21 (121)
Depreciation and amortization 4,808 4,525 4,409
Share-based compensation expense 3,217 4,485 3,948
Tax benefit from exercise of stock options 0 0 (307)
(Gain) loss on sale of property and equipment 149 (2,703) 132
Deferred income taxes 766 (3,373) (3,927)
Amortization of bond discount 0 0 3
Purchase of trading investment securities (429) (252) (162)
Proceeds from sale of trading investment securities 147 239 151
Realized and unrealized gains on investments (63) (470) (56)
Foreign exchange losses (gains) 1,348 1,948 (225)
Changes in assets and liabilities:      
Accounts receivable (343) (1,091) 3,457
Inventories (9,569) 933 748
Prepaid expenses and other 2,442 636 3,411
Other assets (3,025) (4,010) (1,235)
Accounts payable (935) 593 (359)
Accrued volume incentives and service fees 1,477 (1,427) (1,905)
Accrued liabilities 1,519 (3,451) (5,360)
Deferred revenue (488) (557) 544
Income taxes payable 1,924 (914) 25
Liability related to unrecognized tax positions (1,076) 1,368 (5,804)
Deferred compensation payable 347 6 (67)
Net cash provided by operating activities 3,417 10,162 14,182
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (11,028) (22,527) (26,285)
Proceeds from sale of property, plant and equipment 0 3,128 85
Purchases of investments available for sale 0 (3) (721)
Proceeds from sale/maturities of investments available for sale 5 810 247
Purchase of intangible assets (509) 0 0
Net cash used in investing activities (11,532) (18,592) (26,674)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of cash dividends (7,509) (7,490) (35,228)
Net borrowings on revolving credit facility 7,223 2,696 0
Principal payments of long-term debt 0 0 (12,267)
Net proceeds from the issuance of shares to noncontrolling interests 0 0 44,795
Investment by noncontrolling interests 0 0 4,000
Proceeds from exercise of stock options 0 3,861 772
Tax benefit from stock option exercise 0 0 307
Repurchase of common stock 0 (6,645) (7,455)
Net cash used in financing activities (286) (7,578) (5,076)
Effect of exchange rates on cash and cash equivalents (735) (1,271) (980)
Net decrease in cash and cash equivalents (9,136) (17,279) (18,548)
Cash and cash equivalents at beginning of the year 41,420 58,699 77,247
Cash and cash equivalents at end of the year 32,284 41,420 58,699
Supplemental disclosure of cash flow information:      
Cash paid for income taxes, net of refunds 3,589 9,782 6,450
Cash paid for interest 254 56 171
Supplemental disclosure of noncash investing and financing activities:      
Purchases of property, plant and equipment included in accounts payable and accrued liabilities $ 178 $ 1,081 $ 780