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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities    
Net income $ 36,328 $ 46,839
Adjustments to reconcile net income to net cash provided by (used for) operating activities    
Depreciation and amortization 16,904 15,600
Amortization of deferred financing costs 234 363
Non-cash stock-based compensation expense 5,078 5,168
(Gain) loss on disposal of fixed assets (78) (693)
Other 2,473 292
Cash flows provided by (used for) working capital    
Accounts receivable 13,764 (18,751)
Inventories (2,905) (7,016)
Prepaid expenses and other current assets (2,053) (4,912)
Accounts payable and accrued expenses 1,027 13,869
Net cash provided by (used for) operating activities 70,772 50,759
Cash Flows From Investing Activities    
Capital expenditures (19,292) (17,615)
Acquisition of business, net of cash acquired (160) (24,253)
Proceeds from sale of property, plant and equipment 142 1,525
Net cash provided by (used for) investing activities (19,310) (40,343)
Cash Flows From Financing Activities    
Net borrowings (repayments) from revolving credit facility (34,000) 7,000
Payments on finance lease (403) (374)
Cash dividends paid (15,266) (14,872)
Proceeds from issuance of common stock 1,948 2,059
Shares withheld for employee taxes on equity awards (2,055) (450)
Deferred financing fees 0 (718)
Net cash provided by (used for) financing activities (49,776) (7,355)
Foreign exchange rate effect on cash (57) (292)
Net increase (decrease) in cash 1,629 2,769
Cash at January 1 23,139 17,655
Cash at September 30 $ 24,768 $ 20,424