XML 24 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 35,469 $ 26,143 $ 19,311
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 13,736 9,158 7,849
Loss on disposal of fixed assets 104 17 35
Share–based compensation expense 6,970 5,468 5,651
Deferred income tax expense (benefit) 448 (728) (248)
Other charges 2 67 22
Changes in operating assets and liabilities:      
Receivables 825 (6,179) (4,468)
Inventories (7,974) (3,631) (811)
Other assets 76 (2,972) (932)
Accounts payable (5,356) 4,336 4,688
Accrued payroll and related benefits 2,795 1,006 (173)
Deferred revenue 1,864 1,194 196
Income taxes 1,297 (1,873) 3,051
Other accrued expenses and liabilities 342 (834) (1,364)
Net cash provided by operating activities 50,598 31,172 32,807
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of short term investments (19,127) (16,811) (8,225)
Proceeds from sales of short term investments 4,537 24,030 8,121
Capital additions (14,756) (12,986) (8,265)
Cash paid for acquisition of a business 0 (15,000) 0
Net cash used in investing activities (29,346) (20,767) (8,369)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Exercise of stock options 2,760 3,182 314
Employee tax withholdings related to the vesting of equity awards (2,657) (2,610) (1,476)
Excess tax benefits from share-based compensation 2,938 3,122 (58)
Payment of dividends (20,861) (20,504) (20,370)
Debt issuance costs 0 (24) 0
Net cash used in financing activities (17,820) (16,834) (21,590)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,432 (6,429) 2,848
CASH AND CASH EQUIVALENTS, beginning of year 6,191 12,620 9,772
CASH AND CASH EQUIVALENTS, end of year $ 9,623 $ 6,191 $ 12,620