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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net income $ 12,976 $ 17,337
Adjustments to reconcile net income to net cash provided by (used for) operating activities    
Depreciation and amortization 5,618 5,200
Amortization of deferred financing costs 78 121
Non-cash stock-based compensation expense 1,904 1,727
(Gain) loss on disposal of fixed assets 27 (467)
Other (827) 521
Cash flows provided by (used for) working capital    
Accounts receivable 3,181 (31,894)
Inventories (8,778) (5,980)
Prepaid expenses and other current assets 1,220 614
Accounts payable and accrued expenses 10,387 20,113
Net cash provided by (used for) operating activities 25,786 7,292
Cash Flows From Investing Activities    
Capital expenditures (9,091) (5,060)
Acquisition of business, net of cash acquired (160) 0
Proceeds from sale of property, plant and equipment 33 1,076
Net cash provided by (used for) investing activities (9,218) (3,984)
Cash Flows From Financing Activities    
Net borrowings from revolving credit facility (5,200) 1,500
Payments on finance lease (129) (124)
Cash dividends paid (5,274) (4,939)
Proceeds from issuance of common stock 1,132 471
Shares withheld for employee taxes on equity awards (1,999) (344)
Net cash provided by (used for) financing activities (11,470) (3,436)
Foreign exchange rate effect on cash 4 49
Net increase (decrease) in cash 5,102 (79)
Cash at January 1 23,139 17,655
Cash at March 31 $ 28,241 $ 17,576