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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net earnings $ 4,098 $ 5,332
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 8,216 9,320
Stock-based compensation 1,601 1,450
Amortization of deferred financing costs 232 294
Deferred income taxes (1,002) 1,780
Net unrealized losses on foreign currency revaluation 123 (871)
Gain on sale of property (4,257) 0
Other, net 1,316 613
Changes in operating assets and liabilities:    
Accounts receivable, net 7,734 (10,541)
Unbilled receivables 4,329 (1,051)
Inventories 1,799 (10,629)
Account payable (13,350) 12,082
Accrued expenses (2,052) (1,251)
Other operating assets/liabilities, net (1,032) (5,286)
Net cash provided by operating activities 7,755 1,242
Cash flows from investing activities:    
Purchases of property, plant and equipment (5,329) (5,870)
Proceeds from disposal/sale of property, plant and equipment 5,784 53
Net cash provided by (used in) investing activities 455 (5,817)
Cash flows from financing activities:    
Dividends paid to common stockholders (1,600) (1,589)
Borrowings under revolving credit line 12,000 0
Repayments of revolving credit line (12,000) 0
Repayments of long-term debt (1,487) (7,525)
Net cash used in financing activities (3,087) (9,114)
Effect of exchange rate changes on cash and cash equivalents (639) 65
Net increase (decrease) in cash and cash equivalents 4,484 (13,624)
Cash and cash equivalents - beginning of period 53,911 69,354
Cash and cash equivalents - end of period 58,395 55,730
Cash paid during the period for:    
Income taxes, net of refunds received 2,805 5,073
Interest payment $ 2,533 $ 2,260