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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 14,228 $ 6,674
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,261 3,177
Stock-based compensation 1,796 1,582
Fair value adjustment to contingent consideration obligations 99 113
Provision for doubtful accounts 133 142
Provision for inventory write-downs 2,154 609
Foreign currency transaction loss (14) 163
Changes in operating assets and liabilities:    
Accounts receivable (1,486) 441
Inventory and other deferred costs (2,044) (4,076)
Prepaid expenses and other assets 447 (197)
Accounts payable and other liabilities (4,603) (2,092)
Net cash provided by operating activities 15,971 6,536
Investing activities    
Purchases of property and equipment and other assets (2,462) (1,174)
Payments related to acquisitions 0 (72,559)
Purchases of short-term marketable securities 0 (2,178)
Proceeds from sales of marketable securities 0 18,000
Net cash used in investing activities (2,462) (57,911)
Financing activities    
Payment of long-term debt (16,000) 0
Proceeds from revolving line of credit 0 25,000
Proceeds from issuance of long-term debt 0 40,000
Payment of deferred debt issuance costs 0 (1,751)
Proceeds from issuance of common stock 2,113 276
Purchase of treasury stock for net settlement of equity awards (88) (57)
Common stock cash dividend paid (4,529) (3,834)
Net cash provided by (used in) financing activities (18,504) 59,634
Effect of exchange rate changes on cash and cash equivalents (228) (69)
Net increase in cash and cash equivalents (5,223) 8,190
Cash and cash equivalents at beginning of period 26,764 11,786
Cash and cash equivalents at end of period $ 21,541 $ 19,976