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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows From Operating Activities    
Net income $ 46,839 $ 26,283
Adjustments to reconcile net income to net cash provided by (used for) operating activities    
Depreciation and amortization 15,963 15,631
Non-cash stock-based compensation expense 5,168 2,601
Gain on disposal of fixed assets (693) (1,146)
Other 292 (2,096)
Cash flows provided by (used for) working capital    
Accounts receivable (18,751) (29,528)
Inventories (7,016) (21,827)
Prepaid expenses and other current assets (4,912) (2,378)
Accounts payable and accrued expenses 13,869 26,004
Net cash provided by (used for) operating activities 50,759 13,544
Cash Flows From Investing Activities    
Capital expenditures (17,615) (14,264)
Acquisition of business, net of cash acquired (24,253) (35,473)
Proceeds from sale of property, plant and equipment 1,525 3,051
Net cash provided by (used for) investing activities (40,343) (46,686)
Cash Flows From Financing Activities    
Net borrowings from revolving credit facility 7,000 73,400
Repayments of long-term debt 0 (40,000)
Payments on finance lease (374) (281)
Cash dividends paid (14,872) (14,701)
Proceeds from issuance of common stock 2,059 3,235
Shares withheld for employee taxes on equity awards (450) (853)
Deferred financing fees (718) (1,095)
Net cash provided by (used for) financing activities (7,355) 19,705
Foreign exchange rate effect on cash (292) (35)
Net increase (decrease) in cash 2,769 (13,472)
Cash at January 1 17,655 28,301
Cash at September 30 $ 20,424 $ 14,829