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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
OPERATING ACTIVITIES:    
Net income $ 49,421 $ 28,500
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 11,819 11,535
Amortization, including accretion of deferred financing costs 3,464 3,503
Deferred income taxes 3,804 1,765
Earnings of equity method investee (912) (1,186)
Gain on sale of fixed assets (26) (18)
Share-based compensation expense 3,594 2,838
Tax benefit related to share-based compensation expense (752) (879)
Gain on disposal of non-core products, net (33,599)  
Change in fair value of earn-out contingent consideration 921 1,417
Changes in operating assets and liabilities, net of effect of business combination:    
Accounts receivable, net (13,440) (11,594)
Inventories, net (21,798) (10,610)
Prepaid expenses and other assets (9,678) (8,417)
Accounts payable 13,604 8,678
Accrued expenses and other liabilities 242 3,379
Net cash provided by operating activities 6,664 28,911
INVESTING ACTIVITIES:    
Capital expenditures (17,479) (16,845)
Proceeds from sale of fixed assets 49 41
Insurance proceeds for fixed assets 0 1,403
Proceeds from disposal of non-core switch and connector products 34,386  
Investment in venture capital fund (1,200)  
Net cash provided by (used for) investing activities 15,756 (15,401)
FINANCING ACTIVITIES:    
Revolving credit facility borrowings 55,000 26,500
Revolving credit facility payments (47,500) (37,500)
Proceeds from issuance of debt 55 273
Repayments of debt (999) (2,459)
Earn-out consideration cash payment (3,394)  
Other financing costs (873)  
Repurchase of Common Shares (50,000)  
Repurchase of Common Shares to satisfy employee tax withholding (3,209) (4,242)
Net cash used for financing activities (50,920) (17,428)
Effect of exchange rate changes on cash and cash equivalents (1,089) (3,120)
Net change in cash and cash equivalents (29,589) (7,038)
Cash and cash equivalents at beginning of period 81,092 66,003
Cash and cash equivalents at end of period 51,503 58,965
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,198 2,679
Cash paid for income taxes, net $ 7,100 $ 7,967