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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net income $ 10,140 $ 2,485 $ 18,840 $ 6,467  
Adjustments to reconcile net income to cash flows from operating activities:          
Depreciation and amortization     8,673 9,006  
Noncash amortization of debt financing costs     151 199  
Pension cash reversion     2,942 0  
Share-based compensation expense     1,526 2,818  
Deferred income taxes     201 (1,454)  
Non-cash loss (income) on derivative contracts     (689) 34  
Loss on extinguishment of debt 0 921 0 921  
Settlement of derivative contract     0 3,900  
Change in other operating items:          
Accounts receivable     (20,501) (48,157)  
Inventories     11,408 (11,802)  
Prepaid expenses     (2,292) (2,743)  
Accounts payable     (15,672) 26,191  
Other operating activities, net     6,935 10,113  
Net cash provided by (used in) operating activities     11,522 (4,507)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Purchases of property, plant and equipment     (9,179) (8,616)  
Net cash used in investing activities     (9,179) (8,616)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Borrowings under term loan facility     0 30,625  
Repayment of term loan facility     (4,375) (1,875)  
Borrowings under revolving credit facility     20,000 65,200  
Repayment of revolving credit facility     (11,000) (83,600)  
Surrender of shares to pay withholding taxes     (788) (912)  
Debt issuance and amendment costs     0 (648)  
Other financing activities     4,056 (131)  
Net cash provided by financing activities     7,893 8,659  
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH     380 (1,994)  
NET INCREASE (DECREASE) IN CASH     10,616 (6,458)  
CASH:          
Beginning of period     31,825 34,958 $ 34,958
End of period $ 42,441 $ 28,500 $ 42,441 $ 28,500 $ 31,825