Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,443 $ 4,155
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Provision for doubtful accounts (22) 62
Depreciation and amortization 3,585 2,396
Share-based compensation expense 1,762 1,586
(Gain) loss on sale of property and equipment (10) 78
Deferred income taxes 263 311
Purchase of trading investment securities (367) (252)
Proceeds from sale of trading investment securities 73 56
Realized and unrealized gains on investments (79) (60)
Foreign exchange gains (1,882) (546)
Changes in assets and liabilities:    
Accounts receivable (1,429) (164)
Inventories (2,359) (6,177)
Prepaid expenses and other current assets (1,221) (912)
Other assets 358 (1,027)
Accounts payable 109 2,402
Accrued volume incentives and service fees 1,082 2,798
Accrued liabilities (3,542) 950
Deferred revenue 1,586 735
Income taxes payable (636) (150)
Liability related to unrecognized tax benefits 207 231
Deferred compensation payable 395 (9)
Net cash provided by (used in) operating activities (684) 6,463
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (3,134) (4,592)
Proceeds from sale of property, plant and equipment 522 0
Proceeds from sale/maturities of investments available for sale 1,776 0
Net cash used in investing activities (836) (4,592)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments of cash dividends (1,886) (3,756)
Net borrowings on revolving credit facility 2,035 1,224
Net proceeds from the exercise of stock options 104 59
Payment of withholding taxes related to the vesting of restricted stock units (512) (169)
Net cash used in financing activities (259) (2,642)
Effect of exchange rates on cash and cash equivalents 1,316 779
Net increase (decrease) in cash and cash equivalents (463) 8
Cash and cash equivalents at the beginning of the period 32,284 41,420
Cash and cash equivalents at the end of the period 31,821 41,428
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 2,418 3,036
Cash paid for interest $ 108 $ 122