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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 5,929 $ 3,174
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,624 1,538
Stock-based compensation 927 779
Fair value adjustment to contingent consideration obligations 47 64
Provision for doubtful accounts 59 71
Provision for inventory write-downs 1,005 196
Foreign currency transaction loss 33 208
Changes in operating assets and liabilities:    
Accounts receivable (857) (368)
Inventory and other deferred costs (1,346) (1,861)
Prepaid expenses and other assets 638 659
Accounts payable and other liabilities (2,985) (3,271)
Net cash provided by operating activities 6,074 1,189
Investing activities    
Purchases of property and equipment and other assets (1,059) (863)
Purchases of short-term marketable securities (1) (2,103)
Sales of short-term marketable securities 0 3,000
Payments related to acquisitions 0 (59)
Net cash used in investing activities (1,060) (25)
Financing activities    
Payments of long-term debt (7,000) 0
Proceeds from stock option exercises 1,385 233
Purchase of treasury stock for net settlement of equity awards (88) (57)
Common stock cash dividend paid (2,262) (1,917)
Net cash used in financing activities (7,965) (1,741)
Effect of exchange rate changes on cash and cash equivalents (288) (265)
Net decrease in cash and cash equivalents (3,239) (842)
Cash and cash equivalents at beginning of period 26,764 11,786
Cash and cash equivalents at end of period $ 23,525 $ 10,944