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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Apr. 01, 2022
Cash flows from operating activities:    
Net income $ 8,161 $ 10,505
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation expense 830 802
Amortization expense   144
Amortization of debt issuance costs 18 14
Non-cash stock based compensation expense 2,447 2,599
Provision for doubtful accounts 16 (23)
Loss (gain) on foreign currency translation 237 (298)
Deferred income tax expense 1,961 1,643
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable and contract assets (3,676) 177
(Increase) decrease in prepaid expenses and other assets (1,799) 640
(Decrease) increase in accounts payable (1,855) 363
(Decrease) in accrued expenses and other liabilities (11,563) (11,760)
Increase in contract liabilities 2,306 1,248
Decrease in income tax payable (146)  
Net cash (used in)provided by operating activities (3,063) 6,054
Cash flows from investing activities:    
Purchases of property and equipment (1,063) (993)
Net cash used in investing activities (1,063) (993)
Cash flows from financing activities:    
Debt issuance costs (13) (10)
Proceeds from borrowings 5,000  
Repayment of borrowings (7,000)  
Dividends paid (2,997)  
Repurchase of common stock (4,237) (3,066)
Net cash used in financing activities (9,247) (3,076)
Effect of exchange rate on cash (18) (27)
Net (decrease) increase in cash and cash equivalents (13,391) 1,958
Cash at beginning of period 30,255 45,794
Cash at end of period 16,864 47,752
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 330 1
Cash paid for interest 861  
Supplemental disclosure of non-cash flow investing and financing activities:    
Dividend declared during the quarter and paid the following quarter $ 2,990 $ 3,474