XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 35,386 $ 24,523
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,336 4,829
Deferred income taxes 5,107 3,035
Stock-based compensation expense 5,784 4,806
Provision for excess and obsolete inventory 1,888 1,708
Changes in operating assets and liabilities:    
Accounts receivable 7,091 18,752
Inventories (32,418) (9,123)
Prepaid expenses and other current assets (3,309) (4,206)
Accounts payable and other current liabilities 7,282 11,808
Deferred revenue 12,460 1,167
Income taxes (27) 5
Other assets and liabilities 1,341 (729)
Net cash provided by operating activities 45,921 56,575
Cash flows from investing activities    
Expenditures for property, plant and equipment and capitalized software (2,392) (2,975)
Net cash used in investing activities (2,392) (2,975)
Cash flows from financing activities    
Net settlement on restricted stock grants (6,495) (3,860)
Repurchase of common stock (24,993) (7,501)
Proceeds from Employee Stock Purchase Plan 508 509
Principal payments on finance lease obligation (362) (108)
Proceeds from exercise of stock options 3,075 7,282
Net cash used in financing activities (28,267) (3,678)
Effect of exchange rate changes on cash and cash equivalents 992 560
Net increase in cash, cash equivalents and restricted cash 16,254 50,482
Cash, cash equivalents and restricted cash at beginning of period 204,232 146,534
Cash, cash equivalents and restricted cash at end of period $ 220,486 $ 197,016