XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 21,778 $ 21,986 $ 18,731
Discontinued operations, net of tax (1,163)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 2,234 2,134 1,966
Deferred tax expense 476 1,526 1,701
Share based compensation expense 4,235 2,892 1,681
Change in provision for doubtful debts (87) (29)
Loss on disposal of fixed assets 64 324
Changes in operating assets and liabilities:      
Trade accounts receivable, gross (9,696) 156 (8,456)
Inventories (19,330) 4,798 (10,824)
Due from related parties 72 58 548
Other assets (501) (236) (24)
Trade accounts payable 15,661 (4,100) 4,778
Other current liabilities 10,686 (3,577) 6,306
Liability for employee severance benefits, net 224 117 60
Net cash provided by operating activities from continuing operations 25,752 24,626 16,791
Net cash provided by operating activities 25,752 24,626 16,791
Cash flows from investing activities:      
Investment in short-term deposits (20,500) (51,500)
Purchase of fixed assets (2,410) (1,256) (2,243)
Purchase of intangible assets (216) (106) (92)
Proceeds from disposal of fixed assets 76
Net cash used in investing activities from continuing operations (23,126) (52,862) (2,259)
Net cash provided by investing activities from discontinued operations 1,257
Net cash used in investing activities (23,126) (51,605) (2,259)
Cash flows from financing activities:      
Share issuance, net 64,288 16,026
Proceeds from exercise of share options 629 542 1,757
Dividend payment (6,551) (5,063)
Net cash provided by (used in) financing activities 64,917 10,017 (3,306)
Effect of exchange rate changes on cash 225 74 (35)
Net (decrease) increase in cash and cash equivalents 67,768 (16,888) 11,191
Cash and cash equivalents at beginning of the year 38,047 54,935 43,744
Cash and cash equivalents at end of the year 105,815 38,047 54,935
A. Cash paid during the year for:      
Income taxes 546 666 534
Lease payments 1,025 1,077
B. Non-cash transactions:      
Fixed assets purchased with supplier credit $ 159 $ 154 $ 261