XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 8,838,000 $ (3,555,000)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 739,000 1,033,000
Amortization of intangible assets 303,000 222,000
Amortization of debt financing costs 47,000 47,000
Stock-based compensation 1,786,000 999,000
Deferred income taxes (388,000) (1,891,000)
Change in sales returns reserve 678,000 (2,553,000)
Provision for obsolete inventory 57,000 439,000
Increase in fair value of contingent consideration   21,000
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 10,819,000 34,681,000
Inventories 12,108,000 5,981,000
Accounts payable (15,669,000) (11,192,000)
Prepaid expenses and other assets (6,568,000) (1,091,000)
Income taxes payable 3,086,000 (132,000)
Other liabilities 5,251,000 (5,483,000)
Net cash provided by operating activities 21,087,000 17,526,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (2,280,000) (890,000)
Acquisition of a business, net of cash acquired (2,500,000)  
Net cash used for investing activities (4,780,000) (890,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Borrowings on revolving credit facilities 97,032,000 48,426,000
Repayment of revolving credit facilities (97,032,000) (63,780,000)
Proceeds from exercise of stock options and warrants 911,000 18,000
Repurchase of common stock to satisfy employee tax withholding obligations (215,000) (48,000)
Net cash provided by (cash used for) financing activities 696,000 (15,384,000)
Effect of exchange rate changes on cash and cash equivalents (719,000) (768,000)
Net increase in cash and cash equivalents 16,284,000 484,000
Cash and cash equivalents - beginning of period 46,681,000 8,249,000
Cash and cash equivalents - end of period 62,965,000 8,733,000
SUPPLEMENTAL DISCLOSURE OF INFORMATION    
Cash paid for interest 64,000 161,000
Cash paid for income taxes $ 5,000 $ 175,000