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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities:    
Net income $ 7,432 $ 9,063
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,855 2,416
Provision for doubtful accounts 545 (103)
Stock-based compensation expense 183 289
Deferred income taxes 38 34
Excess tax benefit from exercise of equity awards   (32)
Changes in assets and liabilities:    
Accounts receivable 32,885 67,942
Inventories (9,438) 5,431
Prepaid expenses and other current assets 1,016 (1,928)
Other non-current assets 22 (128)
Accounts payable (6,177) (52,359)
Accrued expenses and other liabilities (3,936) (7,156)
Net cash provided by operating activities 25,425 23,469
Cash Flows from Investing Activities:    
Purchases of property and equipment (1,487) (2,078)
Net cash used for investing activities (1,487) (2,078)
Cash Flows from Financing Activities:    
Dividend payment (9,041) (10,591)
Exercise of stock options 1,678  
Excess tax benefit from exercise of equity awards   32
Payment of payroll taxes on stock-based compensation through shares withheld   (40)
Net cash used for financing activities (7,363) (10,599)
Increase in cash and cash equivalents 16,575 10,792
Cash and cash equivalents, beginning of period 49,180 80,188
Cash and cash equivalents, end of period 65,755 90,980
Non-cash Investing and Financing Activities:    
Accrued capital expenditures 291 578
Supplemental Cash Flow Information:    
Income taxes paid $ 1,546 $ 7,638