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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows provided by (used in) operating activities:    
Net income $ 2,179 $ 2,156
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 7,037 5,530
Amortization of purchased intangible assets 25,769 612
Amortization of deferred debt issuance costs 267 112
Amortization of acquisition-related inventory valuation step-up 430 0
Stock-based compensation 4,649 3,335
Deferred income taxes (164) (2,616)
Other 45 (283)
Restructuring expenses and asset impairments 45 127
Change in:    
Accounts receivable, net (22,250) (11,985)
Inventories (29,814) (10,477)
Prepaid expenses and other 1,161 (9,076)
Accounts payable 4,955 7,476
Contract liabilities 12,389 5,345
Accrued expenses and other liabilities (4,162) 3,723
Net cash provided by (used in) operating activities 2,536 (6,021)
Cash flows used in investing activities:    
Proceeds from escrow related to acquisition of business 640 0
Investment in marketable securities 0 (123,984)
Proceeds from maturities of marketable securities 0 4,799
Acquisition of property, plant and equipment (6,319) (3,252)
Proceeds on sale of property, plant and equipment 0 1,004
Net cash used in investing activities (5,679) (121,433)
Cash flows (used in) provided by financing activities:    
Repayments on term loan (7,500) 0
Repayments on capital expenditure facility 0 (11,750)
Payments of debt issuance costs (176) 0
Distributions to redeemable noncontrolling interest holder (7,000) 0
Net proceeds from issuance of common stock to employees and directors 0 253
Treasury stock purchases (1,094) (2,451)
Net cash (used in) provided by financing activities (15,770) 134,775
Effects of exchange rates on cash (78) 855
Net (decrease) increase in cash and cash equivalents (18,991) 8,176
Cash and cash equivalents, beginning of the period 30,810 28,187
Cash and cash equivalents, end of the period 11,819 36,363
Equity Offering    
Cash flows (used in) provided by financing activities:    
Net proceeds from issuance of common stock through at-the-market offering program 0 123,461
ATM Offering    
Cash flows (used in) provided by financing activities:    
Net proceeds from issuance of common stock through at-the-market offering program $ 0 $ 25,262