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, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 6,929 $ (1,202)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Provision for doubtful accounts 10 818
Depreciation and amortization 10,599 9,806
Noncash lease expense 5,394  
Share-based compensation expense 2,120 2,170
Loss (gain) on sale of property and equipment 43 (3,990)
Deferred income taxes 4,279 (18)
Purchase of trading investment securities (83) (165)
Proceeds from sale of trading investment securities 464 775
Realized and unrealized losses (gains) on investments (224) 87
Foreign exchange losses 107 1,697
Loss on write-off of cumulative translation adjustment 595  
Changes in assets and liabilities:    
Accounts receivable 375 189
Inventories (4,870) 1,066
Prepaid expenses and other 1,229 (821)
Other assets 475 814
Accounts payable (960) 1,035
Accrued volume incentives and service fees (1,564) 1,762
Accrued liabilities (8,593) 10,045
Deferred revenue 69 (357)
Lease liabilities (5,039)  
Income taxes payable (1,960) 1,297
Liability related to unrecognized tax positions (693) (2,501)
Deferred compensation payable (157) (674)
Net cash provided by operating activities 8,545 21,833
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (5,104) (4,834)
Proceeds from sale of property, plant and equipment 2 5,045
Net cash provided by (used in) investing activities (5,102) 211
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 2,064 68,322
Principal payments of revolving credit facility (2,064) (81,503)
Proceeds from borrowings from related party 0 1,000
Proceeds from exercise of stock options 257 664
Tax benefit from exercise of stock options (320) (675)
Net cash used in financing activities (63) (12,192)
Effect of exchange rates on cash and cash equivalents (389) (2,124)
Net increase in cash and cash equivalents 2,991 7,728
Cash and cash equivalents at beginning of the year 50,638 42,910
Cash and cash equivalents at end of the year 53,629 50,638
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds 6,861 3,535
Cash paid for interest 64 397
Supplemental disclosure of noncash investing, and financing activities:    
Purchases of property, plant and equipment included in accounts payable and accrued liabilities 194 32
Leasehold improvements obtained in exchange asset retirement obligation $ 649 $ 0