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, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ (13,817) $ 675 $ 13,656
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Impairment of long-lived assets, net 113 221 0
Provision for doubtful accounts 215 305 21
Depreciation and amortization 8,634 4,808 4,525
Share-based compensation expense 2,218 3,217 4,485
(Gain) loss on sale of property and equipment 284 149 (2,703)
Deferred income taxes 14,134 766 (3,373)
Purchase of trading investment securities (501) (429) (252)
Proceeds from sale of trading investment securities 151 147 239
Realized and unrealized gains on investments (216) (63) (470)
Foreign exchange losses (gains) (1,980) 1,348 1,948
Changes in assets and liabilities:      
Accounts receivable (1,241) (343) (1,091)
Inventories 5,177 (9,569) 933
Prepaid expenses and other (1,191) 2,442 636
Other assets 2,391 (3,025) (4,010)
Accounts payable (1,123) (935) 593
Accrued volume incentives and service fees 1,884 1,477 (1,427)
Accrued liabilities (986) 1,519 (3,451)
Deferred revenue (324) (488) (557)
Income taxes payable (1,758) 1,924 (914)
Liability related to unrecognized tax positions (2,129) (1,076) 1,368
Deferred compensation payable 589 347 6
Net cash provided by operating activities 10,524 3,417 10,162
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (5,501) (11,028) (22,527)
Proceeds from sale of property, plant and equipment 521 0 3,128
Purchases of investments available for sale 0 0 (3)
Proceeds from sale/maturities of investments available for sale 1,776 5 810
Purchase of intangible assets 0 (509) 0
Net cash used in investing activities (3,204) (11,532) (18,592)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of cash dividends (1,848) (7,509) (7,490)
Proceeds from new revolving credit facility 19,184 0 0
Principal payments of new revolving credit facility (6,003) 0 0
Net borrowings on original revolving credit facility (9,919) 7,223 2,696
Related party note 506    
Proceeds from exercise of stock options (347) 0 3,861
Repurchase of common stock 0 0 (6,645)
Net cash provided by (used in) financing activities 1,573 (286) (7,578)
Effect of exchange rates on cash and cash equivalents 1,733 (735) (1,271)
Net increase (decrease) in cash and cash equivalents 10,626 (9,136) (17,279)
Cash and cash equivalents at beginning of the year 32,284 41,420 58,699
Cash and cash equivalents at end of the year 42,910 32,284 41,420
Supplemental disclosure of cash flow information:      
Cash paid for income taxes, net of refunds 4,597 3,589 9,782
Cash paid for interest 257 254 56
Supplemental disclosure of noncash investing and financing activities:      
Purchases of property, plant and equipment included in accounts payable and accrued liabilities $ 63 $ 178 $ 1,081