XML 24 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net income $ 73,951 $ 31,234 $ 10,793
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Lower of cost or market reserve adjustment to inventory 1,866 3,707 2,832
Depreciation and amortization 20,381 14,188 9,424
Deferred income taxes, net (114) (11,426)  
Loss on disposal of assets 97 126 78
Share-based compensation 7,795 3,833 2,120
Unrealized foreign exchange loss (gain) 330 (937) 2,462
Changes in operating assets and liabilities:      
Accounts receivable, trade (10,080) (11,147) (7,531)
Notes receivable     977
Prepaid tax (1,386)    
Inventories (21,876) 10,207 (37,502)
Other current assets (4,185) 4,119 (2,624)
Accounts payable 7,249 9,105 (1,258)
Accrued income taxes 6,204 988 220
Accrued liabilities 4,052 3,107 4,797
Net cash provided by (used in) operating activities 84,284 57,104 (15,212)
Investing activities:      
Purchase of short-term investments     (175)
Maturities of short-term investments 8 7,752  
Purchase of property, plant and equipment (66,968) (49,442) (57,080)
Proceeds from disposal of equipment 171 14 351
Deposits and prepaid for equipment (2,871) 688 (4,238)
Purchase of intangible assets (499) (547) (478)
Net cash used in investing activities (70,159) (41,535) (61,620)
Financing activities:      
Proceeds from issuance notes payable and long-term debt   28,858 16,944
Principal payments of long-term debt and notes payable (42,758) (5,855) (2,413)
Proceeds from line of credit borrowings 88,003 117,172 144,386
Repayments of line of credit borrowings (39,003) (163,068) (121,386)
Proceeds from bank acceptance payable   5,850 8,257
Repayments of bank acceptance payable (309) (8,398) (6,361)
Repayments of notes payable   (1,000) (1,000)
Exercise of stock options 1,460 859 452
Payments of tax withholding on behalf of employees related to share-based compensation (10,721)    
Proceeds from common stock offering, net 21,572 27,237 38,648
Other     6
Net cash provided by financing activities 18,244 1,655 77,533
Effect of exchange rate changes on cash (385) 1,947 (592)
Net increase in cash, cash equivalents and restricted cash 31,984 19,171 109
Cash, cash equivalents and restricted cash, at beginning of period 51,964 32,793 32,684
Cash, cash equivalents and restricted cash, at end of period 83,948 51,964 32,793
Cash paid for:      
Interest 872 1,689 1,070
Income taxes $ 5,835 $ (12) $ 650