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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 94 $ 36,769
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 9,832 7,775
Stock-based compensation expense 3,216 3,192
Loss (gain) on sale of equipment 0 (13)
Deferred income taxes (1,121) (962)
Changes in operating assets and liabilities:    
Trade receivables, net 7,044 (8,942)
Inventories, net 11,591 1,899
Prepaids and other assets 3,051 8,050
Excess tax benefits of stock options and awards 0 (11)
Accounts payable and accrued expenses (22,231) 4,766
Net cash provided by operating activities 11,476 52,523
Investing activities    
Purchase of property, plant and equipment (4,847) (7,732)
Proceeds from sale of equipment 439 76
Acquisition of business, net of cash acquired (19,869) 0
Net cash used in investing activities (24,277) (7,656)
Financing activities    
Repurchase of common stock 0 0
Proceeds from exercise of stock options 403 155
Excess tax benefits of stock options and awards 0 11
Net cash used in financing activities 403 166
Effect of exchange rate changes on cash activities 3,091 (3,003)
Increase (decrease) in cash and cash equivalents (9,307) 42,030
Cash and cash equivalents at beginning of period 423,497 381,336
Cash and cash equivalents at end of period $ 414,190 $ 423,366