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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 27, 2019
Sep. 28, 2018
Cash flows from operating activities:    
Net income $ 20,992 $ 24,045
Less loss from discontinued operations (4) (599)
Net income from continuing operations 20,996 24,644
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 2,320 1,857
Amortization expense 789 1,789
Amortization of debt issuance costs 68 68
Non-cash stock compensation expense 5,733 6,932
Provision for doubtful accounts 719 313
Gain on foreign currency translation (384) (425)
Release of valuation allowance 1,277 1,565
Changes in assets and liabilities:    
Increase in accounts receivable and contract assets (3,904) (1,612)
(Increase) decrease in prepaid expenses and other assets 803 (1,352)
Decrease in accounts payable (2,213) (3,317)
Decrease in accrued expenses and other liabilities (1,463) (3,033)
Increase (decrease) in income tax payable 1,803 (2,476)
Net cash provided by operating activities 26,540 24,354
Cash flows from investing activities:    
Purchases of property and equipment (3,719) (7,273)
Net cash used in investing activities (3,719) (7,273)
Cash flows from financing activities:    
Proceeds from issuance of common stock 418 387
Proceeds from borrowings 1,000 5,000
Repayment of borrowings (5,000) (12,500)
Dividends paid (11,196) (10,048)
Repurchase of common stock (5,531) (4,272)
Net cash used in financing activities (20,309) (21,433)
Effect of exchange rate on cash 103 17
Net increase (decrease) in cash and cash equivalents 2,615 (4,335)
Cash at beginning of period 13,808 17,512
Cash at end of period 16,423 13,177
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 3,410 5,406
Cash paid for interest $ 227 $ 450