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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 $ 49,982 $ 17,034 $ 45,885
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 9,939 7,880 5,772
Gain on sale of equipment (168)    
Deferred income taxes 4,685 3,304 11,209
Stock-based compensation expense 10,485 8,173 7,784
Provision for doubtful accounts   818  
Provision for excess and obsolete inventory 3,696 2,794 2,205
Changes in operating assets & liabilities:      
Accounts receivable (1,393) (6,002) (3,877)
Inventories (17,652) (17,953) (10,512)
Prepaid expenses and other current assets (7,322) (104) (1,436)
Accounts payable and other current liabilities 18,062 (19,150) (703)
Deferred revenue (6,215) 6,672 6,055
Income taxes 332 (162) 196
Other assets and liabilities 5,272 (16,898) (15,613)
Net cash provided by (used in) operating activities 69,703 (13,594) 46,965
Cash flows from investing activities      
Proceeds from sale of equipment 168    
Expenditures for property, plant and equipment and capitalized software (7,434) (11,969) (4,715)
Net cash used in investing activities (7,266) (11,969) (4,715)
Cash flows from financing activities      
Net settlement on restricted stock grants (3,915) (1,632) (1,419)
Repurchase of common stock (7,501) (17,744)  
Proceeds from Employee Stock Purchase Plan 1,009 863 871
Principal payments on finance lease obligation (399)    
Proceeds from exercise of stock options 8,419 5,105 1,734
Net cash used in financing activities (2,387) (13,408) 1,186
Effect of exchange rate changes on cash and cash equivalents (2,352) 603 586
Net increase (decrease) in cash, cash equivalents and restricted cash 57,698 (38,368) 44,022
Cash, cash equivalents and restricted cash at beginning of period 146,534 184,902 140,880
Cash, cash equivalents and restricted cash at end of period 204,232 146,534 184,902
Supplemental disclosure of cash flow information      
Income taxes 876 1,028 858
Interest $ 5,156 $ 5,207 $ 5,470