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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Cash flows from operating activities:    
Net earnings (loss) $ 20,709 $ (11,897)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Depreciation and amortization 18,207 20,718
Stock-based compensation 2,835 3,030
Amortization of deferred financing costs 531 2,259
Deferred income taxes 2,490 (315)
Unrealized (gains) losses on foreign currency revaluation (2,663) 2,770
Loss on disposal of property, plant and equipment 141 109
Other, net 795 1,897
Changes in operating assets and liabilities:    
Accounts receivable (13,004) (2,948)
Unbilled receivables (1,263) 0
Inventories (24,735) (6,160)
Other current assets 966 (2,423)
Other assets 922 (1,621)
Account payable 8,995 (1,426)
Accrued expenses 1,911 (1,861)
Other liabilities (15,708) 16,566
Income taxes payable 8,968 5,422
Net cash provided by operating activities 10,097 24,120
Cash flows from investing activities:    
Purchase of property, plant and equipment (11,594) (6,425)
Payment for acquisition, net of cash acquired (2,177) 0
Proceeds from surrender of company-owned life insurance 433 0
Purchase of company-owned life insurance (433) 0
Proceeds from sale of marketable securities within rabbi trust 1,348 0
Purchase of marketable securities within rabbi trust (1,348) 0
Proceeds from disposal/sale of property, plant and equipment 77 76
Net cash used in investing activities (13,694) (6,349)
Cash flows from financing activities:    
Dividends paid to common shareholders (3,295) (3,281)
Deferred financing costs 0 (2,012)
Borrowings under revolving credit line 7,500 6,000
Repayments under revolving credit line (7,500) (6,000)
Reduction in notes payable 0 (225)
Proceeds from long-term debt 0 125,000
Repayments of long-term debt (9,012) (143,799)
Net cash used in financing activities (12,307) (24,317)
Effect of exchange rate changes on cash 461 2,489
Net decrease in cash and cash equivalents (15,443) (4,057)
Cash and cash equivalents - beginning of year 69,354 73,411
Cash and cash equivalents - end of year 53,911 69,354
Cash paid during the year for:    
Income tax payments, net of refunds received 7,483 756
Interest payments 4,775 4,353
Details of acquisition:    
Goodwill 19,817 20,177
Cash paid for acquisition, net of cash acquired 2,177 0
BCMZ [Member]    
Cash flows from investing activities:    
Payment for acquisition, net of cash acquired (2,177) 0
Details of acquisition:    
Fair value of identifiable net assets acquired 1,298 0
Goodwill 1,290 0
Net assets acquired 2,588 0
Fair value of consideration transferred 2,588 0
Less: Cash acquired in acquisition (411) 0
Cash paid for acquisition, net of cash acquired $ 2,177 $ 0