XML 18 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 20,732 $ 14,187
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,186 5,861
Stock-based compensation 2,593 2,269
Fair value adjustment to contingent consideration obligations (454) 132
Provision for doubtful accounts 136 257
Provision for inventory write-downs 3,016 1,032
Gain on sale of building 0 (470)
Foreign currency transaction loss 322 49
Changes in operating assets and liabilities:    
Accounts receivable (425) (1,326)
Inventory and other deferred costs (2,752) (3,228)
Prepaid expenses and other assets (741) 35
Accounts payable and other liabilities (567) 1,850
Net cash provided by operating activities 30,046 20,648
Investing activities    
Purchases of property and equipment and other assets (4,276) (1,767)
Proceeds from sale of building 0 2,023
Payments related to acquisitions 0 (72,627)
Purchases of short-term marketable securities (49,554) (2,193)
Proceeds from sales of marketable securities 0 18,000
Net cash used in investing activities (53,830) (56,564)
Financing activities    
Payments of deferred acquisition consideration (401) (976)
Proceeds from revolving line of credit 0 25,000
Proceeds from issuance of long-term debt 0 40,000
Payments of revolving line of credit 0 (4,000)
Payments of long-term debt (39,000) (500)
Payment of deferred debt issuance costs 0 (1,751)
Proceeds from issuance of common stock 61,566 1,437
Purchase of treasury stock for net settlement of equity awards (374) (291)
Common stock cash dividend paid (6,930) (5,759)
Net cash provided by (used in) financing activities 14,861 53,160
Effect of exchange rate changes on cash and cash equivalents (472) 249
Net increase in cash and cash equivalents (9,395) 17,493
Cash and cash equivalents at beginning of period 26,764 11,786
Cash and cash equivalents at end of period $ 17,369 $ 29,279