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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 57,872 $ 35,469 $ 26,143
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 15,082 13,736 9,158
Loss on disposal of fixed assets 0 104 17
Share–based compensation expense 10,923 6,970 5,468
Deferred income tax expense (benefit) 3,775 448 (728)
Other charges 34 2 67
Changes in operating assets and liabilities:      
Receivables (311) 825 (6,179)
Inventories (5,762) (7,974) (3,631)
Other assets (1,895) 76 (2,972)
Accounts payable 1,916 (5,356) 4,336
Accrued payroll and related benefits 4,878 2,795 1,006
Deferred revenue 509 1,864 1,194
Income taxes (6,643) 1,297 (1,873)
Other accrued expenses and liabilities (631) 342 (834)
Net cash provided by operating activities 79,747 50,598 31,172
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of short term investments (38,479) (19,127) (16,811)
Proceeds from sales of short term investments 14,571 4,537 24,030
Capital additions (13,408) (14,756) (12,986)
Cash paid for acquisition of a business 0 0 (15,000)
Net cash used in investing activities (37,316) (29,346) (20,767)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Exercise of stock options 4,266 2,760 3,182
Employee tax withholdings related to the vesting of equity awards (4,545) (2,657) (2,610)
Excess tax benefits from share-based compensation 0 2,938 3,122
Repurchase of common shares for treasury (3,485) 0 0
Repurchase and retirement of common shares (2,285) 0 0
Payment of dividends (21,351) (20,861) (20,504)
Debt issuance costs 0 0 (24)
Net cash used in financing activities (27,400) (17,820) (16,834)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 15,031 3,432 (6,429)
CASH AND CASH EQUIVALENTS, beginning of year 9,623 6,191 12,620
CASH AND CASH EQUIVALENTS, end of year $ 24,654 $ 9,623 $ 6,191