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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities    
Net income $ 5,278 $ 383
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 3,109 3,055
Inventory step up of acquired business included in cost of sales   1,956
Amortization of deferred financing costs and debt discount 183 167
Stock-based compensation 1,213 1,124
Provision for losses on accounts receivable (9) 58
Deferred income taxes 642 2,228
Earnout liability 66 232
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 38,751 36,953
Inventories (22,145) (24,661)
Prepaid and other assets 3,432 (3,809)
Accounts payable (4,305) 499
Accrued expenses and other current liabilities (8,640) (6,002)
Benefit obligations and other long-term liabilities 976 (857)
Net cash provided by operating activities 18,551 11,326
Investing activities    
Capital expenditures (1,165) (1,254)
Acquisition of business   (7,931)
Net cash used in investing activities (1,165) (9,185)
Financing activities    
Shares withheld on restricted stock vesting paid for employees' taxes   (27)
Dividends paid (5,361) (5,034)
Repayment of long-term debt (475) (475)
Net cash provided by (used in) financing activities (5,836) (5,536)
Change in cash and cash equivalents 11,550 (3,395)
Cash and cash equivalents at beginning of year 36,844 36,844
Cash and cash equivalents at end of year $ 48,394 $ 20,800