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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 1,338 $ 18,840
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 8,974 8,673
Noncash amortization of debt financing costs 151 151
Pension cash reversion 0 2,942
Share-based compensation expense 2,013 1,526
Deferred income taxes 121 201
Non-cash loss (income) on derivative contracts (475) (689)
Change in other operating items:    
Accounts receivable (5,555) (20,501)
Inventories (5,456) 11,408
Prepaid expenses (3,688) (2,292)
Accounts payable 24,414 (15,672)
Other operating activities, net (11,605) 6,935
Net cash provided by operating activities 10,232 11,522
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (11,266) (9,179)
Proceeds from sale of business 3,200 0
Net cash used in investing activities (8,066) (9,179)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of term loan facility (6,563) (4,375)
Borrowings under revolving credit facility 24,500 20,000
Repayment of revolving credit facility (17,500) (11,000)
Surrender of shares to pay withholding taxes (20) (788)
Other financing activities (62) 4,056
Net cash provided by financing activities 355 7,893
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH (1,028) 380
NET INCREASE IN CASH 1,493 10,616
CASH:    
Beginning of period 37,848 31,825
End of period $ 39,341 $ 42,441