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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities:    
Net (loss) earnings $ (8,743) $ 20,709
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:    
Impairment of goodwill 8,891
Depreciation and amortization 16,471 18,207
Stock based compensation 2,888 2,835
Amortization of deferred financing costs 466 531
Deferred income taxes (2,172) 2,490
Unrealized gain on foreign currency revaluation (110) (2,663)
(Gain) loss on disposal of property, plant and equipment (4,194) 141
Other, net 1,522 795
Changes in operating assets and liabilities:    
Accounts receivable 19,298 (13,004)
Unbilled receivables (519) (1,263)
Inventories 17,087 (24,735)
Other current assets (2,292) 966
Other assets (1,392) 922
Accounts payable (15,105) 8,995
Accrued expenses (5,875) 1,911
Other liabilities 8,178 (15,708)
Income taxes payable (9,949) 8,968
Net cash provided by operating activities 24,450 10,097
Cash flows from investing activities:    
Purchase of property, plant and equipment (9,891) (11,594)
Payment for acquisitions, net of cash acquired (29,003) (2,177)
Proceeds from surrender of company owned life insurance 433
Purchase of company owned life insurance (433)
Proceeds from sale of marketable securities within rabbi trust 1,348
Purchase of marketable securities within rabbi trust (1,348)
Proceeds from disposal/sale of property, plant and equipment 5,807 77
Net cash used in investing activities (33,087) (13,694)
Cash flows from financing activities:    
Dividends paid to common shareholders (3,352) (3,295)
Borrowings under revolving credit line 44,000 7,500
Repayments under revolving credit line (12,000) (7,500)
Reduction in notes payable (2,974) (9,012)
Purchase and retirement of Class A common stock (448)
Net cash provided by (used in) financing activities 25,226 (12,307)
Effect of exchange rate changes on cash and cash equivalents 1,789 461
Net increase (decrease) in cash and cash equivalents 18,378 (15,443)
Cash and cash equivalents - beginning of year 53,911 69,354
Cash and cash equivalents - end of year 72,289 53,911
Supplemental cash flow information:    
Income taxes, net of refunds received 4,686 7,483
Interest payments 4,850 4,775
Goodwill 21,993 19,817
Cash paid for acquisitions, net of cash acquired 29,003 2,177
BCMZ Precision Engineering Limited [Member]    
Cash flows from investing activities:    
Payment for acquisitions, net of cash acquired (29,003) (2,177)
Supplemental cash flow information:    
Fair value of identifiable net assets acquired 18,909 1,298
Goodwill 10,287 1,290
Fair value of net assets acquired 29,196 2,588
Fair value of consideration transferred 29,196 2,588
Less: Cash acquired in acquisitions (193) (411)
Cash paid for acquisitions, net of cash acquired $ 29,003 $ 2,177